Is MeLoan legal?
Illegal lending company without a validly subsisting Certificate of Authority to Operate as Lending Companies or Financing Companies from the Securities and Exchange Commission.
The Securities and Exchange Commission (SEC) shut down 19 illegal online lending apps on Monday, 16 September 2019, over complaints of invasion of privacy and harassment.
Be careful! Do not be fooled!
|Min amount||Max amount||Min terms||Max terms||Rate|
|1000 PHP||10000 PHP||7||30||0,5 % per day|
2. Time to review
3. Other conditions
Example of calculating interest and loan payments
|TERM||10 days||20 days||30 days|
|LOAN AMOUNT||10000 PHP||10000 PHP||10000 PHP|
|FEE||0,5 %||0,5 %||0,5 %|
|INTEREST AMOUNT||500 PHP||1000 PHP||1500 PHP|
|TOTAL REPAYMENT||10500 PHP||11000 PHP||11500 PHP|
Meloan is a financial services provider based in Manila. The company aims to provide quality financial lending services to the market. Their goal is to help Filipinos realize your financial desires quickly and conveniently. Meloan Philippines offers short-term microcredits for both Students and Employees without collateral, with the possibility of quick approval and easy access.
Meloan’s customer requirements
For students: The borrower must be of legal age and currently be enrolled in any school in the Philippines.
For employees: The Borrower must be of legal age and currently works for any company in the country with an existing bank account.
To receive the loan you need to specify your mobile number and e-mail address, fill in all the necessary information and download the necessary documents. Then select your preferred payment method and wait for the loan to be credited.
Pay attention, please!
On September 27, 2019 Meloan Ph was announced on its official Facebook page that loan applications have been stopped. Meloan website has also stopped working. Earlier you could also use the Meloan app to get money, but now we couldn’t find it on Google Playstore.
We also tried to find someMeloan reviews on the Internet, but found nothing. It’s likely that Meloan lending still hasn’t recovered.
HOW IT WORKS
1. Fill in the form
2. Wait 20 minutes
3. Get money
Written by Mikka Montero | Modified date: February 07, 2020