MoneyCat Loan Review: Is this loan app be trusted? Everything You Need to Know Before Applying

Welcome to our comprehensive review of MoneyCat, one of the most popular loan apps in the Philippines. If you need quick financial assistance, MoneyCat promises a hassle-free loan application process, fast approval, and flexible repayment terms. In this article, we’ll explore everything you need to know about MoneyCat, from interest rates, application processes to repayment terms and customer support, we delve into the details to help you make an informed decision. Is MoneyCat the ideal solution for your financial needs? Let’s dive in and find out!

MoneyCat Loan Overview

Moneycat	First loan for FREE
Loan amount	From PHP 500 to PHP 20,000
Age	22 years old or older
Loan term	From 3 – 6 months
Interest rate	0% for first loan, up to 11.9% per month for next loan, maximum APR of 145%
Requirements	National ID
Repayment	E-wallets (GCash, Maya), Payment centers (e.g., 7-Eleven, Cebuana Lhuillier), Online Banking
Pros	⭐First Loan for Free ⭐Simple application process ⭐Fast approval ⭐Professional customer support
Cons	❌Relatively high interest rates ❌May require proof of income
Apply for a Moneycat Loan	Link Here

What is MoneyCat?

MoneyCat is a leading online platform offering instant cash loans in the Philippines. It provides a fast, convenient, and reliable way for Filipinos to access loans up to PHP 20,000 with flexible repayment terms of up to 180 days. The process is straightforward and quick: apply online, receive approval within 30 minutes, and get your funds transferred to your bank account within the same timeframe. MoneyCat is known for its simple application process, no income verification requirements, and excellent customer support, making it a popular choice for those in need of immediate financial assistance.

MoneyCat Loan interest rates

MoneyCat offers competitive interest rates on their loans:

• 0% Interest rate for the First loan
• Interest Rates: Up to 11.9% per month
• Annual Percentage Rate (APR): Maximum of 145%

These rates can vary depending on the amount borrowed, the term of the loan, and your credit profile. For precise details on the interest rates applicable to your loan, it’s best to check directly with MoneyCat or review their loan agreement.

Example of MoneyCat Loan interest rate calculation

Suppose you borrow PHP 10,000 from MoneyCat with a monthly interest rate of 11.9% for a 3-month term.

• Interest per month = Principal x Monthly Interest Rate
• Interest per month = PHP 10,000 x 0.119 = PHP 1,190

• Total Interest = Monthly Interest x Number of Months
• Total Interest = PHP 1,190 x 3 = PHP 3,570

• Total Repayment = Principal + Total Interest
• Total Repayment = PHP 10,000 + PHP 3,570 = PHP 13,570

• Monthly Repayment = Total Repayment / Number of Months
• Monthly Repayment = PHP 13,570 / 3 ≈ PHP 4,523.33

In this example, you would repay approximately PHP 4,523.33 per month for 3 months.

Pros and cons of MoneyCat loans

Overall, MoneyCat offers a convenient solution for quick financial needs.

👉 Get 0% interest loan up to ₱10,000

Conditions to receive a loan from MoneyCat

To receive a loan from MoneyCat, you need to meet the following conditions:

• Age Requirement: You must be at least 22 years old.
• Residency: Must be a Filipino citizen currently residing in the Philippines.
• Valid Identification: A valid government-issued ID (e.g., National ID).
• Contact Information: A valid phone number and email address for communication.
• Bank Account: A valid bank account where the loan funds can be deposited is needed.
• Proof of Address: Documentation to confirm your residential address, such as a utility bill, is needed.
• Stable income: To qualify, you must have a steady source of income to repay the loan amount. This requirement is typically met by employed individuals and certain professionals. While MoneyCat may ask for proof of income, the process is designed to be straightforward and hassle-free.

Meeting these conditions helps ensure that the loan application process is smooth and increases the chances of approval.

👉 Get 0% interest loan up to ₱10,000

Steps to apply for a MoneyCat loan

Step 1: Access the MoneyCat platform through their official website or mobile app. 👉 Moneycat Official Website

Step 2: Sign up by filling out the registration form with your personal details to create an account.

Step 3: Provide necessary information including your name, contact details, income, and loan amount requested.

Step 4: Confirm your application using an OTP sent to your phone or email.

Step 5: Provide proof of income (e.g., payslips), a valid ID, proof of address, and recent bank statements.

Step 6: Your application will be reviewed, and you’ll receive an approval notification via SMS or email within 30 minutes to 24 hours.

Step 7: Upon approval, funds will be transferred to your bank account within 30 minutes.

Step 8: Repay the loan through various methods available, such as online banking, mobile payment apps, or over-the-counter at designated payment centers.

👉 Get 0% interest loan up to ₱10,000

You can see details on how to register in the video below 👇

How to repay a MoneyCat loan

Step 1: Choose Your Payment Method

• Online Banking: Log in to your online banking account and transfer the payment directly to MoneyCat’s designated bank account.
• E-wallets: Use mobile payment platforms like GCash, PayMaya, ShopeePay or others to make your payment.
• Over the Counter: Visit authorized payment centers to make your payment in person. (e.g. 7-Eleven, Cebuana Lhuillier,…)

Step 2: Check Payment Details

• Ensure you have the correct payment details, including the amount due and MoneyCat’s account information. Double-check these details in your loan agreement or payment instructions.

Step 3: Make the Payment

• Follow the instructions for your chosen payment method to complete the transaction.

Step 4: Confirm Payment

• After making your payment, you should receive a confirmation receipt or notification. Keep this for your records to ensure your payment is properly recorded.

Step 5: Monitor Your Loan Status

• Regularly check your loan account or contact MoneyCat’s customer service to confirm that your payment has been applied and your loan balance is updated.

Customer reviews and feedback about the MoneyCat Loan

Many borrowers appreciate MoneyCat for its quick and efficient loan process. Customers often highlight the simplicity of the online application and the rapid disbursement of funds, which can occur within 30 minutes of approval. The straightforward application procedure and fast approval times are frequently praised by users.

On the other hand, some customers have raised concerns about the high-interest rates and additional fees associated with MoneyCat loans. A few reviews mention that the overall cost of borrowing can be higher than anticipated, which may be a drawback for some borrowers.

While the customer service is generally described as professional and responsive, there are occasional complaints about delays in resolving issues and support. Despite these concerns, many users still find MoneyCat to be a reliable option for quick cash needs.

👉 Get 0% interest loan up to ₱10,000

MoneyCat Loan Alternatives

Evaluation criteria	Moneycat Loan PH	Cash-Express Loan App	Soscredit Loan
Promotion	First loan for FREE	0% Interest rate for the first 7-days	Loans to new clients up to 10000 PHP without interest and 0% commission.
Loan amount	500 – 20000 peso	1000 – 20000 peso	1000 – 25000 peso
Interest rate	11.9%/month, max APR of 145%	1% – 3,98%/day	143% – 180%/annum
Loan term	3 to 6 months	7 – 30 days	3 to 12 months
Age	22 – 65 years old	21 – 70 years old	20 – 65 years old
Approval time	15 minutes	15 minutes	15 minutes
Approval rate	80%	85%	80%

MoneyCat customer service contact information

To contact MoneyCat customer service, you can use the following methods:

• Address: Unit 1708 Tektite East Tower, Exchange Road, Ortigas Center, Pasig City 1605
• Customer Service Email: support@moneycat.ph
• Phone Number: 0917 152 7089/ 0917 152 6738 (For Globe/TM)
• Support Hours: 9 am – 6 pm Mon – Fri

Frequently asked questions about MoneyCat loan

Is MoneyCat Loan legit?

Yes, MoneyCat is a legitimate loan provider. It operates in compliance with local regulations in the Philippines, is registered with the appropriate authorities (as the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC)), and has received positive customer feedback for its transparent terms, quick disbursement, and straightforward application process.

Is MoneyCat a loan shark?

No, MoneyCat is not a loan shark. It operates legally and is regulated under Philippine financial authorities. MoneyCat adheres to regulatory requirements and offers transparent lending terms, in contrast to loan sharks.

What happens if I don’t pay my debt on time?

If you don’t pay your MoneyCat loan on time, you might face late fees and penalties, a negative impact on your credit score, and possible collection efforts. Persistent non-payment could also lead to legal actions to recover the debt. It’s crucial to contact MoneyCat if you’re having trouble repaying to discuss alternative solutions.

How much can I borrow from MoneyCat?

With MoneyCat, you can borrow amounts ranging from PHP 500 to PHP 20,000. The exact amount you can borrow depends on your application and credit evaluation.

How to pay MoneyCat Loan using GCash?

To repay a MoneyCat loan using GCash, open the GCash app, go to “Pay Bills,” select the appropriate category for loans, enter MoneyCat’s payment details, specify the amount, and confirm the transaction. Ensure you save the transaction receipt for your records.

How to pay MoneyCat Loan using Paymaya?

To repay a MoneyCat loan using PayMaya, open the PayMaya app, go to the “Pay Bills” section, choose the category for loans, input MoneyCat’s payment details, enter the repayment amount, and confirm the transaction.

Does MoneyCat call my contacts?

MoneyCat generally does not call your personal contacts during the loan application or repayment process. Mostly, they will get in touch with you directly about your loan. To help with the resolution of the matter, MoneyCat might get in touch with the contacts or personal references you supplied during the application process if you miss payments on your loan and don’t reply to their messages.

Advice for you before borrowing money from MoneyCat

Before you borrow money from MoneyCat, consider the following advice to ensure the loan application process goes smoothly and avoid potential issues:

• Compare Loan Options: It’s wise to compare MoneyCat’s loan offerings with other available options in the market. Look at different lenders’ terms, interest rates, and fees to find the best deal for your needs. This comparison can help you make a more informed decision and potentially save money on your loan.
• Understand the Terms and Conditions: Before applying for a loan with MoneyCat, make sure to thoroughly read and understand the loan terms and conditions. Pay attention to the interest rates, repayment schedule, and any additional fees that may apply. Knowing these details upfront can help you avoid unexpected costs and ensure that you’re comfortable with the loan terms.
• Assess Your Repayment Ability: Carefully evaluate your financial situation to determine if you can comfortably meet the repayment obligations. Consider your income, expenses, and any other financial commitments you have. Borrow only what you need and ensure that the monthly payments will fit within your budget to avoid potential financial strain.
• Verify Your Eligibility: Ensure you meet all the eligibility criteria set by MoneyCat before applying. This includes age, residency, and income requirements. Fulfilling these criteria will prevent your application from being rejected and speed up the approval process.
• Check Your Credit Report: Review your credit report to ensure there are no errors and to understand your credit standing. A good credit history can improve your chances of getting favorable loan terms. Even if you have a less-than-perfect credit score, knowing where you stand can help you manage your expectations and plan accordingly.
• Be Aware of the Loan’s Impact: Consider how taking out the loan will affect your overall financial situation. Ensure that the loan won’t compromise your financial stability or lead to more debt. It’s important to have a clear plan for managing your finances both during and after the loan term.

👉 Get 0% interest loan up to ₱10,000