What is MF Cash loans?
MF Cash is an online cash loan platform, that will let you loan in as fast as possible in the convenient of your mobile phone. The mobile app was released on March 8, 2019. With more than 100,000 downloads already. Offered by Microdot Lending Corporation. Already on no. 7 top free finance in Google play.
Ending the traditional bulk paper documents to sign, and cutting the amount of time and effort you consume to process. You can all do it in the comfort of your homes. It would just take a few moments and few taps to get it all done. All you need is to download the app and register. Then, viola! Your one step on the way to get your money. Do you wanna know the process? Here’s how.
Who can apply?
Filipino citizens with valid identification document are eligible to apply for the loan. Of course someone should be of good reputation, as well as should meet the standards and conditions of the loan.
So you want to apply all you need is a valid identification document (ID). A list of valid ID’s include SSS, UMID (Unified Multipurpose ID), TIN, Driver’s License, Postal ID, Passport.
So you really do want to apply? Here’s how!
- All you need is an Android mobile phone to download the MF Cash mobile app at Google Play store.
- Install the app and register.
- Confirm your identity, then viola! You can now apply for a loan.
- Select a loan product. Follow the prompts and fill in the information then submit your loan application.
- Wait for approval. You may receive a call from one of their representative for verification, so be sure you don’t missed that call.
- Once approved, it would take such 30 minutes away to be deposited to your account. (Time of loan disbursement may varies).
You can loan with the minimum amount of Php 2,500.00 up to Php 20,000.00 as the maximum loanable amount.
Terms of payment
Loan period may be 60 to 180 days. Such specific period needs to be determined by credit evaluation.
Interests & Fees
Interest rates is up to 24%. You can see the details if you tap on to selected loan products.
Service fee. Yes they do charge for one-time application only.
₱ 10,000.00 -loan amount
*24% – interest rate
= ₱2,400.00 total interest
Late payment fee. Yes, as always. Late payment fees / penalties may apply.
Within 24 hours loan disbursement time. Fastest time of money transfer is 5 minutes to 30 minutes deposited to your account.
A friendly advice and tip to borrowers. Pay your loan on time, otherwise higher overdue fees may charge. Delayed payment is not good on building your good credit standing and as well as may affect your chances of higher credit limit in the future.
MF Cash is a product of Microdot Lending Corporation, which is a legally registered loan company in the Philippines. The product operates in compliance with the policies and regulations, as well as all of its business activities. Office is located at 22nd floor, BGC Marajor Tower, Metropolitan Area, Manila.
So far, ratings and reviews are quite good somehow. I mean App standing is 4.5 out of 5 rating. Feedbacks from users are good comments giving 5 (five) star rate. Commended for easy application and fast turnover. Well, that may also vary at points.
Response is typical mostly on their page. Yes they have Facebook book page so you’re one chat away to communicate them.
Two criterias on the top most lookout in finding a great loan app is, lowest interest rates and fastest disbursement. Well, almost every lending app is offering the fast – easy loans and or quick cash loans. But it is the fastest? And if it is, higher interest rate are oh so backed with it. Great if you could find those companies offering the lowest in the market. But, disbursement or turnover time should not also be sacrificed. Why is it? Because it’s a criteria of a great loan app. Lending or credit program is supposed to help the in need. Most of it are, on the call of emergencies and urgents. It is not helpful if both of it is eliminated or even otherwise understated its importance.
Lending is supposed to be helpful not adding burden to what’s already heavy.
Right, isn’t it?
Share to us your thoughts about it.