|Name of Organization||Loan Ranger|
|Full Name of Organization||Loan Ranger LTD|
Loan Ranger LTD - Product Features
|Min. financing amount||3000 php|
|Max. financing amount||10000 php|
|Max. financing amount||30 days|
|Approval duration||Average time from 2 to 12 hours|
Fees & Charges
|Debt consolidation||Information on debt consolidation is not listed on the site. You need to contact representatives of the organization through any source and clarify|
|Processing fee||One-time fee is not charged when making a loan|
|Stamp duty||Stamp duty is not provided in the organization|
|Annual fee||Annual fee ranges from 180% to 365% depending on the percentage under which you borrowed|
|Other fees||Other fees are not listed on the site. However, when applying for a loan, you can include insurance or any other services. For more information, you need to consult with representatives of the organization.|
|Early settlement||Early debt settlement does not charge you extra fees. For more information contact the credit organization.|
|Late payment charges||6% of overdue amount|
|Other penalties||Not provided|
|Need to bind a bank account||No|
|Other details||Payment on the loan occurs through a bank card|
LoanRanger is a fintech company, which is a part of the First Digital Finance Group, located in Manila, the capital of the Philippines, and it deals with the microloans issuance.
The feature of this company is that it provides loans to persons over the age of 18, with a minimum set of documents required. According to the rules, published on the official LoanRanger website, a citizen of the Philippines of or over the age of 18 who lives and works within the country can apply for a loan. An applicant can upload all documents necessary for approval to the website through the personal account. Communication with LoanRanger specialists is done by e-mail. According to customers reviews, approval of a loan application, filed in by a person for the first time, takes a little more than a day, and the loan is approved faster during the repeated application. Funds are usually transferred to the borrower’s account the next day after the application approval.
In order to formalize a loan, an applicant must send a scanned copy or photograph of any ID paper in good quality. He/she also needs to provide one of three documents confirming income for the last three months: a payment check, a bank statement or a screenshot from online banking (for those who don’t have a permanent job). To increase the chance of the loan approval, the company allows to download several documents, confirming the applicant’s solvency. It is mentioned by the LoanRanger that they are loyal to freelancers and to owners of stores, operating in the “Sari sari” format.
The minimum loan amount issued by the company is 3 thousand pesos, the maximum amount is 10 thousand pesos. The loan is issued for a period of up to three months. The interest rate on the loan is 0.65% per day. For the LoanRanger clients, whose credit history is good, the company can provide a repeated loan, which exceeds 10 thousand pesos. It is mentioned by the LoanRanger that they don’t issue more than one loan to one person at a time. If the applicant has received a denial, he/she can submit an application again, if he/she has changed his/her place of work or has improved the financial situation.
The First Digital Finance Corporation company was registered by the Philippine Securities and Exchange Commission in 2017, the license number – 1101.
There are several ways of a loan repayment listed on the LoanRanger website. Thus, borrowers can make a regular payment through an online banking system, as well as transfer funds to an online wallet, or simply transfer money to company through several banks, where it has bank accounts: Bank of the Philippine Islands (BPI), Banco de Oro Unibank (BDO), Security Bank.
How to take a loan in Loan Ranger?
- Fill in the application for a loan.
- Confirm the offer. The offer is signed by an SMS code sent to your Get the solution instantly!
- Transfer money to a bank account or card in one day!
Additional conditions for granting loans:
- the whole process through the Internet, without leaving home;
- for Filipino citizens who have reached the age of 21 (majority);
- the presence of a permanent registration in the territory of the Philippines;
Reasons for a loan denial:
- Poor credit score
- You are blacklisted, on debt review or had a judgement against your name
- You don’t have enough income for the loan you requestedd
- Poor track record of credit card or loan repayments