BillEase Review, Interest rates and more

Scam or Legit | Interest rate | Cash loan | Lazada loan |  Gcash loan | Paymaya loan | Requirements | Grab pay loan | Coin Ph loan

Is this online loan app [Billease] legit or a scam, this question is often raised whenever I reviewed about particular product or service; most people asked this question maybe because scammers are everywhere around the web and some of them are hiding in an online loan application. Scammers collect your personal information such as bank details to make fraudulent activity. This review will help you to determine; (1) the legitimacy of the business, (2) the product or service they offer, (3) interest rates and charges, finally  (4) the term loan repayment. 

Filipinos are often used to borrowing money from their friends, family, and relatives or to a "Bombay" a term used by a common Filipino to an Indian national living in the Philippines who has a lending business, more often, we called it 5/6 means a Php 500 that you've borrowed will become Php 600 at the end of the term usually a month. 

To begin with, Billease is a retail credit operating under the name of First Digital Finance Corporation and regulated by the Security and Exchange Commission (SEC) as a financing company and Banko Sentral ng Pilipinas (BSP) as Operators of Payment System. First Digital Finance Corporation [Billease] is located at Salustiana D. Ty Tower, 104 Paseo de Roxas, Legazpi Village, Makati, Metro Manila, they had over 100 employees across 5 major cities in two continents. 

The company offers several loan servicers such as a Lazada loan disbursed to Lazada wallet for online shopping, an e-wallet loan; a cash loan that is disbursed thru an e-wallet account, a Bank cash loan; a cash loan that is disbursed thru a bank account, also offers gaming loan, cable loan, and mobile load loan. All of these loans can be avail after passing the KYC process of the company except for the bank cash loan, based on my source the bank loan will only activate once the user becomes a "loyal customer" or a good payer which means with good standing credit ratings. 

Although some of those offerings are similar to other online loan applications, what makes Billease a bet different is that they offer a 2.05% to 3.49% interest rate per month much lower than OLP and Cashalo, and a 6.82% effective interest rate for much longer-term loan, which means if you approved a 4,000 loan you only have 416 interest is the span of 3 months installment and a 400 service charge that they will deduct to your principal loan. The term loan is from 14 days to 3 months, repayment is installment twice a month or once a month depends on your choice. At the first loan, you can apply from 1,000 to 7,000, some users are now enjoying a 34,000 credit limit.

Final thoughts
It's not bad to have debt as long as you are using it properly, in fact, most entrepreneurs capitalize on their business through loans; It is a motivation for them to work hard and do better. If you need money because you have tuition or other bills to pay Billease is much recommended, they have great customer support, a lower interest rate, a longer repayment term, a lot of loan services offer. Bellease understand the needs of its customer offering a 3 Months installment so it will be easy for the customers to repay. With that, I will give the Billease 10/10, It is legit helpful to an average Filipino who have suffering financial needs.