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Fees and Commissions

Our website, fastloan247.com, does not set any commissions for using funds. The service operates with full integrity. We do not charge any commissions. Our services are completely free for you to use.

Your financial institution sets the penalties for late payments in your agreement. Lenders in the Philippines set their own interest rates and penalties for late repayments.

It is important to note that all financial relationships are between you and your lender, not fastloan247.com. We are not a lender and never act as such. As a website, we only match borrowers and financial entities by offering a selection of lenders that provide cash loans up to ₱25000 for a period of 120 days.

The financial institution will determine its own policies regarding loan provision and payment. The user agrees to the terms remotely directly on the lender’s website. You may choose to accept or decline the terms offered in the loan agreement. Your agreement details the loan amount, currency, period of use for the funds, and your obligations.

fastloan247.com cannot access your loan agreements. If you have questions regarding your loan agreement or repayment, contact your lender directly through the means of communications detailed on their website.

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Responsible Lending

fastloan247.com matches loan offers to customers, acting as an intermediary between them and licensed financial institutions. fastloan247.com is not a financial institution, bank, or lender. It is not responsible in any way for loan agreements or terms. All calculations are approximate. Please check the lending institution’s website for the relevant terms and conditions.

Repayment Periods and Interest Rates

The APR is the cost of borrowing a loan, expressed as a nominal annual interest rate. As fastloan247.com is a credit broker and not a lender, we cannot guarantee a particular annual percentage rate. Annual percentage rates typically range from 0% to 36%. Repayment periods for loan products usually range from four months to six months. Before accepting a lender’s offer through our system, please make sure to read through the loan agreement carefully, since interest rates and repayment terms may differ from those listed on this website.

Collection Policy

Most lenders will contant you through regular mail, email, or phone to change your payment terms. Failure to pay may result in interest accruals and/or increases and may affect your credit score. Continued failing to pay may result in the lender transferring your debt to a collection agency, which will lead to additional fees.

Consequences of Nonpayment

fastloan247.com always recommends repaying on time. If you cannot, each lender has their own policies on fees/interest and how they handle debt collection. Most lenders will contact you by regular mail, email, or phone to change your payment terms. Nonpayment may result in penalties and/or increased interest. We recommend that you contact your lender as soon as you know there is an issue; otherwise, your credit history may get affected.

Late Payments

If you are unable to repay within the loan period, you need to contact your lender right away. Lenders may charge a fee for late payments, which averages about 0.03% of the amount owed for personal loans and credit cards. Please remember that you will likely incur additional fees if you pay late or not at all, which could add up. For more information about late payment fees, please contact your lender directly and be sure you have read the terms in your loan agreement.

Extensions

If you would like to extend your loan, you should contact your lender before missing a payment. Most lenders charge the same interest rate and commissions for another month on the total amount due. The loan may be renewed or extended automatically in the event of late or nonpayment. Additional interest and/or fees may be charged to your account. Please, think carefully before extending your loan, as doing so may substantially increase the amount you pay.

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