LendEase is a user-friendly online lending application that helps customers address their daily financial needs conveniently and effectively. With its smart interface and straightforward process, LendEase has attracted and continues to attract many users, becoming one of the leading loan applications in the Philippines market. Everyone is encouraged to download the LendEase App to their phones and experience the seamless loan registration process this utility app offers.
Basic information about LendEase:
- Company Name: Magician of Money Lending Corp.
- Registration Number: CS201918391
- SEC Registration Number: 3157
- Contact Phone Number: 09752301596
- Address: 1806 Cityland Pasong Tamo Tower, 2210 Chino Roces Ave, Pio Del Pilar, Makati City, Philippines
For any inquiries, feedback, or hesitations, please reach out to LendEase through the provided contact methods above.
Benefits of using LendEase
Using the LendEase App offers numerous significant benefits to customers. Below are some key advantages of using this application:
- LendEase allows customers to borrow money online anytime, anywhere, with just a few taps on their mobile phones.
- The registration and loan approval process is quick, saving customers time and effort compared to visiting banks or other institutions.
- LendEase is designed with a user-friendly interface and a simple process. Customers only need to follow the instructions on the app to complete the registration and loan approval.
- LendEase offers competitive interest rates and reasonable service fees for customers. Additionally, the app applies low or waived service fees, helping customers save costs.
- The app provides fast disbursement of funds and offers multiple options for customers to withdraw cash quickly and securely.
- LendEase prioritizes the protection of customers’ personal information and privacy. There is absolutely no use of buying or selling information in any form.
Registration requirements and loan products at LendEase
To be eligible to apply for a loan through the LendEase App, customers need to meet the following requirements:
- Valid government-issued ID or driver’s license, passport, etc.
- Active bank account.
- Age between 18 and 55 years old.
- Philippine citizenship.
- Stable employment and income.
Loan Products in the App
LendEase offers the following loan products:
- Loan amounts ranging from ₱3,000.00 to ₱15,000.00.
- Flexible loan terms, from 91 days, up to a maximum repayment period of 180 days.
- Maximum annual interest rate of 30%.
- Zero service fees, ensuring customers don’t have to worry about any additional dependent fees.
Example for a loan:
Suppose you apply for a loan with a principal amount of ₱2,000 and a loan term of 180 days (6 months), with an annual interest rate (APR) of 10%, a one-time service fee of 10%, and no other fees.
- Service fee: 2,000 * 10% = ₱200
- Actual received amount: 2,000 – 200 = ₱1,800
- Total interest to be paid: 2,000 * 10% * 180/365 = ₱99
- Total amount due on the due date: Loan amount + Interest fee = 2,000 + 99 = ₱2,099
- Monthly installment: ₱2,099 / 6 = ₱350.
The process of using LendEase for loan registration
Step 1. Download and Register an Account
Firstly, customers need to download the LendEase app to their phones from cashloanapp.net. After installation, you can register and create a new account by providing the necessary personal information.
Alternatively, you can also apply for a quick loan on the website without downloading the app or creating a new account. You may log in using your social media accounts like Facebook, Instagram, Twitter, etc.
Step 2. Choose Loan Amount and Term
Once logged into the account, customers select the desired loan amount and corresponding loan term. LendEase provides loan amounts ranging from ₱3,000.00 to ₱15,000.00 and loan terms from 91 days up to 180 days.
Step 3. Fill in the Personal Form and Identity Verification
After selecting the loan amount and term, customers will be required to fill in a simple personal form. The information needed includes:
- Full name, date of birth
- Residential address, email address, etc.
- ID number, front and back images of the national ID, customer portrait
- Bank account details to receive the money
The identity verification process is essential to ensure safety and prevent fraud. Everyone needs to cooperate with the app and provide accurate information.
Step 4. Loan Approval and Disbursement
After completing the personal information and identity verification, LendEase will review the customer’s loan application. Typically, this process only takes a few minutes to complete. If the loan is approved, the funds will be disbursed into the customer’s bank account within 10 minutes.
Note: Please familiarize yourself with LendEase’s policies, conditions, and terms. If you find them suitable, feel free to proceed with the loan registration.
Payment instructions on the application
Here is the guide for making payments on LendEase:
Option 1: Online Bank Transfer
Step 1: Use your mobile banking app.
Step 2: Ensure that you have enabled online money transfer and have sufficient balance to proceed with the transaction.
Step 3: Find and select the online bank transfer option.
Step 4: Enter the recipient’s information, including the bank name, account number, and the amount you wish to transfer.
Step 5: Confirm the information and double-check for accuracy.
Step 6: Complete the transaction and save the confirmation details.
Note: Initiate the payment at least 1-2 days in advance to ensure the funds arrive on time as per the regulations.
Option 2: Payment via E-Wallet
Step 1: Ensure you have downloaded and installed an e-wallet app (e.g., GCash, PayMaya) on your mobile phone.
Step 2: Top up your e-wallet account using the supported payment methods.
Step 3: Once you have sufficient balance, find and select the option for transferring money from the e-wallet.
Step 4: Enter the recipient’s information, including the bank name, account number, and the amount you want to transfer.
Step 5: Confirm the information and double-check for accuracy.
Step 6: Proceed with the transaction and save the receipt or confirmation information.
Note: Keep the receipt or confirmation details after completing the transaction for future reference if needed.
Some questions related to LendEase
How much can I borrow for the first time?
For your first online loan application at LendEase, the application only supports a maximum loan amount of ₱10,000.00, depending on the information you provide during the registration process. However, if you wish to borrow a higher amount, you can do so by paying off your previous loan on time and maintaining a good transaction history.
Can I borrow money if I have a bad credit history?
Yes, some customers with a history of bad credit from financial companies or banks can still be eligible for a loan at LendEase. However, in such cases, the loan amount might be limited, and the interest rate could be higher compared to customers with no bad credit history. Therefore, it’s essential to consider this when applying for a loan.
My loan application is stuck in the process?
Normally, the acceptance and processing of loan applications at LendEase take around 30 minutes to 1 hour. However, if your application is stuck for more than a day, it is likely that your loan request has been rejected. In this case, you should consider seeking another loan provider.
Can I borrow on behalf of someone else?
No, you must be the registered applicant and take responsibility for the loan. LendEase App does not allow the use of other people’s personal information or bank accounts to borrow money. This measure is implemented to ensure transparency and security during the loan transaction process.
The above information about the LendEase fast and easy loan application has been compiled for your reference. We hope this article has been helpful to you. We wish you successful registration on LendEase.