Binixo PH Loan is a leading online lending platform in the Philippines. The company offers a variety of loan products to meet the needs of borrowers of all credit scores. Binixo PH Loan is committed to providing borrowers with a safe and convenient lending experience.
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Update 09/2023
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Overview of Binixo Philippines Loan
About Binixo PH loan?
Binixo is an online payday loan platform in the Philippines. It offers short-term loans to users which can be used for any purpose. Users need to provide their government-issued ID, proof of income, and bank account details to apply for a loan. Loans are typically approved within 24 hours and disbursed to the borrower’s bank account within 1-2 business days.
Is Binixo.ph legit?
Yes, Binixo PH is a legitimate online lending platform in the Philippines. It is registered with the Securities and Exchange Commission (SEC) of the Philippines and is a member of the Philippine Fintech Association (PFA).
Is Binixo sec registered?
No, Binixo is not SEC registered.
On September 16, 2019, the Securities and Exchange Commission (SEC) of the Philippines issued a cease and desist order against Binixo and 18 other online lending companies for operating without a validly subsisting Certificate of Authority to Operate as Lending Companies or Financing Companies.
Pros of Binixo online loan Philippines
There are some pros to Binixo online loans in the Philippines, including:
- Convenience: A quick and easy online application process. You can apply for a loan from anywhere, anytime, and within minutes.
- Fast approval: Typically approved within 24 hours.
- No collateral required: Does not require any collateral to apply for a loan.
- Flexible repayment terms: Flexible repayment terms, ranging from 7 to 30 days.
- Available to borrowers with all credit scores: Available to borrowers with all credit scores, including those with bad credit or no credit history.
Cons of Binixo ph loan
Here are some of the cons of Binixo PH loans:
- High interest rates: Binixo loans have high interest rates, which can range from 2.5% to 5% per day. This means that you will have to pay back a significant amount of money in interest, even if you only borrow a small amount of money.
- Short repayment terms: Have short repayment terms, ranging from 7 to 30 days. This can make it difficult to repay the loan, especially if you have other financial obligations.
- Late payment fees and penalties: Charges late payment fees and penalties to borrowers who make late payments. These fees and penalties can add up quickly, making it even more difficult to repay the loan.
- Predatory lending practices: Has been accused of engaging in predatory lending practices, such as targeting borrowers with poor credit history and charging them exorbitant interest rates.
Binixo ph loan requirements
Binixo PH loan requirements are as follows:
- Must be a Filipino citizen and resident of the Philippines.
- Must be at least 21 years old.
- Must have a valid government-issued ID.
- Must have a proof of income.
- Must have a bank account.
Binixo PH also requires borrowers to provide the following information when applying for a loan:
- Full name
- Date of birth
- Contact information
- Government-issued ID number
- Proof of income
- Bank account details
Binixo PH Loan Interest Rates
Binixo PH loan interest rates vary depending on the loan amount and repayment term. However, they are typically around 2.5% to 5% per day. This means that if you borrow 10,000 PHP for 7 days, you will have to pay back 11,750 PHP, including interest.
Example of calculating interest and loan payments
| TERM | 10 days | 20 days | 30 days |
|---|---|---|---|
| LOAN AMOUNT | 10000 PHP | 10000 PHP | 10000 PHP |
| FEE | 1% | 1% | 1% |
| INTEREST AMOUNT | 1000 PHP | 2000 PHP | 3000 PHP |
| TOTAL REPAYMENT | 11000 PHP | 12000 PHP | 13000 PHP |
Step-by-Step How to receive the money for a Binixo Philippines Loan?
Here is a step-by-step guide on how to receive the money for a Binixo Philippines loan:
Step 1: Complete the online application form through the link provided below.
Once you’ve filled out the application, please submit it to us.
Step 2: Allow for a 20-minute waiting period.
Our team will carefully review your application and reach a decision.
Step 3: Receive your funds.
Rest assured, you will receive the approved amount on your bank card.
Binixo tranfer to Gcash?
Here are the steps on how to transfer money from Binixo to GCash using a bank transfer:
- Withdraw the money from your Binixo account.
- Log in to your bank account and initiate a bank transfer to your GCash wallet.
- Enter your GCash wallet number as the recipient’s account number.
- Enter the amount of money that you want to transfer.
- Confirm the transfer.
- Wait for the money to be transferred to your GCash wallet. This typically takes 1-2 business days.
Once the money has been transferred to your GCash wallet, you can use it to pay for goods and services, or to send money to other GCash users.
Binixo ph customer service contact number
- Address: Manila
- Email: info@binixo.com
- Hotline contact number: +36202114538
- Tax identification number: 26673819-2-43
Conclusion
In conclusion, Binixo PH Loan offers a reliable and convenient financial solution for individuals in need of quick and accessible loans in the Philippines. With their user-friendly platform and efficient services, Binixo PH Loan stands as a trusted partner for those seeking financial assistance.
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