FAQ

Frequently Asked Questions about Lending

How much can I loan and for how long?

Our current loanable amounts for first-time applicants range from 2,000 to 10,000 PHP. Repeat borrowers on good standing can borrow up to 20,000. Use the Loan Calculator on the Binixo.ph website for your desired loan amount. Select a payment term of 7, 15, 21, or 30 days. The Calculator will compute for the total repayment amount.

What is the interest rate?

Upon approval, a 1% per day interest rate is applied. Late payment are subject to additional 1% daily late interest rate. A Php700 late payment fee is also applied.

Are all costs really published? Are there hidden costs?

Beside the 1% per day interest rate, we will include an additional processing surcharge. The online Calculator will compute your total repayment amount. Please note that the fee is activated for the processing of the loan and before the loan is disbursed.

About the loan

Who can use Lending’s loan services?

Our Lending currently offers loans services to customers:

  • Between 22 to 60 years old.
  • Currently employed or with a steady income and with a valid home address in Metro Manila and other select areas in the Philippines

How to apply for a loan?

Complete the online application form. Please expect a message from us immediately for the additional requirements. Check the email you registered. Make sure that you submit complete and clear copies of the document requirements so we can process your loan applications.

Why do you ask for a bank account number?

For a secured transaction, we only deposit approved loan proceeds to a bank account number under your name. We deposit, via DragonPay, to a savings account or checking account to any of the following partner banks:

  • Banco De Oro
  • Bank of the Philippine Islands
  • Chinabank
  • EastWest Bank
  • Metrobank
  • Philippine National Bank
  • RCBC
  • RCBC myWallet
  • Security Bank
  • UnionBank
  • Land Bank
  • UCPB

How will I know if I am approved?

A decision of your loan application will be sent to you through SMS/E-mail within 1-2 working days upon your submission of complete and clear document requirements. We assesses all applicants fairly and quickly.

Which cities does your lending currently offer loan solutions?

We provide loan services primarily to customers working and with a valid home address in the National Capital Region. We also serve some areas in Cavite, Laguna, and Bulacan.

About receiving money

When do I receive the loan?

We process release of your cash funds immediately after approval. We will send you a text message afterwards with instructions on how you can claim your money.

How can I get my approved loan?

This is automatically deposited to your bank account upon approval. We will send an SMS confirmation to your registered phone after the transaction is completed.

Banks we can send money to:

  • Banco De Oro
  • Bank of the Philippine Islands
  • Chinabank
  • EastWest Bank
  • Metrobank
  • Philippine National Bank
  • RCBC
  • RCBC myWallet
  • Security Bank
  • UnionBank
  • Land Bank
  • UCPB

If I can’t come at the day of release, can I come at a later time?

Our bank partners and transaction point affiliates will hold your cash funds for four (4) days. Please contact us if you weren’t able to collect your money within this period.

 

About repayment

When do I have to pay for my loan?

We have included a section in your contract with details of your loan maturity and when you need to make your loan repayment. We advise paying on or before the due date/s in order not to incur any charges.

Where can I make loan repayment?

We partner with DragonPay to easily facilitate repayments. Repayment instructions are sent through SMS and E-mail for your convenience. (Right now DragonPay is our only payment method.)

How do I make loan repayment?

Go to one of our payment partner branches. Complete a bills payment form and use the reference number we have sent you through SMS and E-mail.

Is early repayment possible?

Please refer to your contract on when early repayments are possible.

Is late repayment possible?

We advise paying your dues on or before the maturity date/s. For late repayments, you will be charged with a fee as stated in our contract.

Others

How can I reloan?

We thank you for continuing to trust us in providing you with your immediate financial needs. We welcome Repeat Loans. If you are a borrower with good payment standing at our lending, we make it very easy for you to reloan. No need to re-apply online. Simply send us an e-mail and we will process your reloan within 1-2 working days.