SOSCREDIT PH Review: App Legit? SEC Registered? How to Apply? (2023)

One of the options for obtaining a loan in the Philippines is the Soscredit review.

Is this app legitimate? How does one apply for a loan? What are the advantages and requirements of the Soscredit app? And what are the opinions of other customers regarding this company?

This article of CDNDongKhoi.edu.vn will address all these questions and more.

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Summary of Soscredit Review

✅ Soscredit Review	⭐ Good
✅ Loan limit	⭐ ₱1,000 – ₱25,000
✅ Loan term	⭐ 3 – 12 months
✅ Interest rate	⭐ 0% for new clients
✅ Age	⭐ 20 – 70 years old
✅ Requirements	⭐ Only ID Cards needed
✅ Area support	⭐ Nationwide Philippines
✅ Benefits	⭐ Fast approval
✅ Drawbacks	⭐ Not yet SEC registered
✅ Instructions	⭐ Apply Soscredit Philippines
✅ Procedure	⭐ Login
✅ Feedback	⭐ Positive
✅ Email	⭐ info@soscredit.ph

What is Soscredit?

Soscredit is a loan app that offers fast and convenient microloans to Filipinos. You can choose from various loan offers and get the money in your bank account in 15 minutes. You can borrow from 1,000 to 25,000 pesos and repay it within 90 days to 12 months. This loan app is a new way of borrowing and getting money, and it makes the process easy and secure.

Benefits of Soscredit Loan

These are some of the advantages of choosing Soscredit Loan:

• Apply online without any collateral, guarantor, or text message from your workplace.
• Choose the loan amount and term that suits your needs and budget.
• Get a loan even if you have a low credit score or no credit history.
• Receive the money in your bank account within 15 minutes after approval.
• Repay the loan in flexible installments over 3 to 12 months.
• Enjoy a 0% commission and interest rate for new clients up to ₱7,000.
• Access customer service and support anytime via phone or email.

Drawbacks of Soscredit App Philippines

There are several drawbacks to using this app that you should be aware of before applying for a Soscredit app loan. Here are some of them:

• The maximum amount is not too high, which may not be enough to cover your financial needs.
• Charge a quite high interest rate of 0.5% per day. This is a little higher than the average interest rate of other loan apps in the Philippines.
• Some users have feedback that they encounter difficulties in contacting the company’s customer service.
• The app is not yet registered with the Securities and Exchange Commission (SEC).

Soscredit Loan Requirements

According to Soscredit Philippines website and other sources, these are the basic criteria you need to meet:

• Be a Filipino citizen residing in the country;
• Be at least 20 years old and not older than 70 years old;
• Have a valid mobile phone number;
• Have an active bank account with a Filipino credit institution;
• Have a regular income and be solvent.
• If you meet these requirements, you can fill out the online application form on their website, wait for a decision, and receive the money in your bank account.

Soscredit Review of Interest Rate

If you are a new client, you have the opportunity to get up to ₱7,000 with no interest. This is a great offer for those who need some extra cash quickly.

However, you should also know that Soscredit loans have a little high interest rate: the annual percentage rate (APR) is 143%, and the highest APR possible is 180%.

Example of calculating interest at Soscredit App

To give you an example of how Soscredit loan interest calculation works, suppose you borrow ₱15,000 for 3 months with an annual percentage rate (APR) of 143%.

The monthly payment for this loan would be ₱7,716, and the total amount you would pay back would be ₱23,148. The total interest you would pay would be ₱8,148, which is the difference between the total amount paid and the loan amount.

If you want to find out how much you would pay for a different loan amount or term, you can use the Soscredit calculator on their website. The calculator will show you the monthly payment for any loan scenario.

How to apply for a Soscredit Loan Philippines step-by-step

Here are the five steps on how to apply for a Soscredit PH loan app:

Step 1: Visit the website

Go to the homepage:

SOSCREDIT Website

Select the amount of the loan that you want. Click on the “Get a loan” button.

Step 2: Enter email

Type your email address. This will be your login credentials for the Soscredit website and app. Click “Get a loan” again.

Step 3: Confirm email

Verify your email address by clicking on the link that Soscredit will send you. This will verify your identity and allow you to proceed with the application.

Step 4: Select loan offer

Choose the proposed loan offer that matches your preferences. You will see the loan amount, interest rate, repayment date, and other details in the email.

Step 5: Transfer money

Get your money in your bank account or e-wallet within 15 minutes. The Soscredit app will transfer the funds to you as soon as possible after you accept the loan offer.

If you want to see how to apply in this video below, just click on the play button and watch.

Soscredit Reviews and Feedback from customers

I’m going to share my Soscredit review with you today. I needed some extra cash to pay for my wedding expenses, so I applied for a loan of 12,000 pesos for a term of 60 days.

The application process was fast and easy, and I got approved in less than 30 minutes. The money was transferred to my bank account the same day. I was able to pay the loan on time with no hassle.

I liked that they have a customer service hotline. They also have a website where I can check my loan status and balance. I would recommend Soscredit to anyone who needs a quick loan in the Philippines.

They are reliable and have a lot of positive reviews on trustpilot.com. If you want to see some pictures of positive feedback from other borrowers, just scroll down and take a look.

Soscredit loan App Repayment

We will explain three ways to pay a Soscredit loan in the Philippines, so you can choose the one that suits you best.

• Pay online using your bank account: This is the fastest and most convenient way to pay your loan, as you can do it anytime and anywhere. All you need is your bank account number and the amount of your loan.
• Pay using a payment terminal: If you don’t have a bank account or prefer to pay in cash, you can use a payment terminal near you. You can find the nearest terminal on the Soscredit website or by calling their customer service.
• Pay using a bank deposit: Another option is to pay your loan using a bank deposit at any branch of BDO, BPI, Metrobank, or other banks that work with Soscredit. You will need the bank account number of the company, which you can find on their website or by contacting their customer service.

Compare Soscredit PH to other lending apps

Criteria	Soscredit	Credify	Moneycat
Amount	₱1,000 – ₱25,000	₱1,000 – ₱25,000	₱500 – ₱20,000
Term	3 – 12 months	3 – 12 months	3 – 6 months
Age	20 – 70 years old	20 – 70 years old	22 – 70 years old
Interest rate	0% for first time	0% for first time	0% for first time
Bad credit	No	No	No
Approval time	15 minutes	30 minutes	20 minutes
General rating	8,5/10	8,5/10	8/10

Sources: According to data from the State Bank.

Soscredit contact information

If you need to contact Soscredit, the company name is Online Media LLC. You have several options to connect:

• Address: Latvia, Saldus, Liela iela 9, LV-3801.
• Email: info@soscredit.ph
• Hotline: 02-8-631-6232
• Facebook: facebook.com/soscredit.ph
• Philippines branch: Unit 1402 The Trade and Financial Tower, 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig City, Philippines.

Read more:

• Digido
• Kviku Loan
• Crezu Loan
• Skyro Loan
• OKPeso

FAQs – Soscredit PH App

For further clarification on some other frequent inquiries regarding Soscredit Review, please refer to the answers provided below.

Is Soscredit legit?

Soscredit is a platform that connects borrowers with reliable lending partners in various countries, such as the Philippines, Ukraine, Czech Republic, Romania, Bulgaria, Vietnam, and more. Although Soscredit does not have an SEC certificate in the Philippines, it is still a trustworthy intermediary that processes information and disburses funds quickly.

Is Soscredit SEC registered?

According to the web search results, there is no information that shows Soscredit is SEC registered. In fact, this company is not listed on the SEC website as a registered company. However, Soscredit is still a fast and reliable loan application that can help you get cash in minutes.

What happens if I can’t pay the Soscredit loan?

If you can’t pay your Soscredit loan on time, you may face some consequences. You will be charged a penalty fee of 1% per day of the overdue amount. You will also receive reminders via SMS, email or phone call. If you still fail to repay your loan, your credit history may be affected and you may be reported to the credit bureau. To avoid these problems, you should contact the company as soon as possible and request an extension or a restructuring of your loan.

In conclusion – Should you apply to Soscredit Philippines?

So, that’s it for our Soscredit PH review. This loan app is a cool online lender that gives you quick and easy cash when you need it.

If you need urgent cash for your personal needs, you should apply to Soscredit Philippines and enjoy the benefits of flexible repayment terms, and minimal requirements.

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