What is Kviku?
Kviku is an online lending platform that offers quick, easy, and convenient access to short-term loans. Through its fully automated Kviku online loan service, Filipinos can borrow small loans fast in times of emergency. Borrowers can apply for a loan without having to go through a lot of paperwork or spend time visiting different banks.
Kviku offers borrowers the chance to pay their loan back in installments, which makes it easier for them to manage their finances. Kviku Philippines users can apply for a loan, get approved, and have the money deposited into their bank account all within minutes. Loan applications are done and processed through their website.
Kviku loan, how does it work?
The Kviku loan application process is easy. You just need to go to kviku.ph and choose the desired loan amount and loan term. This will initiate the loan application. You have to complete the online application form, snap a photo of yourself, and upload your documents in the platform.
As Kviku’s entire operation is automated, there’s no human intervention when it comes to evaluating the application. Kviku uses an enhanced software that can analyze over 1,800 customer data points from the information you’ve provide on the form. This makes the assessment more objective.
Moreover, loans are granted promptly, even on weekends, holidays, and non-working days. You can get your loan approved within 24 hours. Once Kviku approves your loan, you will receive an SMS with a decision on your application in a few minutes. Your funds will be transferred to your bank account within an hour.
How much does Kviku loans?
Kviku offers loan amounts anywhere from P500 to a maximum of P25,000. With Kviku, the loan can be paid in installments to make it much easier to manage. If you’re a first-time borrower, you have the option of paying your loan for a maximum of 60 days. For repeat borrowers, the loan term can be extended to 180 days if you have good credit standing.
Kviku users can find an attractive interest rate for their loan with a 0.16% per day.
Is Kviku legit? Is it SEC registered?
Yes. The Kviku online lending platform is legit. It’s operated by Kviku Lending Co. Inc., which was registered with the Securities and Exchange Commission (SEC) on January 9, 2020. The company is authorized to operate as a lending company in the Philippines.
How long does it take to have the money?
Once your Kviku loan application is approved, it typically takes 24 hours for the money to be transferred to your bank account. This can vary depending on your bank, but it shouldn’t take more than 48 hours to receive the money.
There are many benefits to taking a loan from Kviku online loan app. Perhaps the biggest benefit is that you can get the money you need quickly and easily. You can usually apply for a loan online and receive a decision within minutes. This means you can get the money you need when you need it the most.
Another benefit is that Kviku offers competitive interest rates. This means you can get a loan at a lower interest rate than what you would receive from a traditional bank or lender. This can save you money in the long run.
Additionally, Kviku offers a variety of loan terms. This means you can find a loan that fits your needs and budget. With Kviku, you are given the option to apply for a small loan that you can repay conveniently for an extended period of time.
How to apply for a loan?
Applying for a loan using the Kviku app takes only three steps:
- Go to kviku.ph and fill out a loan application form.
- You will be asked to provide your name, date of birth, SSS number, email address, and mobile phone number.
- Wait for the approval.
- After you have submitted the necessary information, you will be notified through SMS if your application is approved or denied.
- Receive your money.
- After signing the contract, the approved cash is sent promptly.
The time it takes to complete the transaction is determined by your bank, however, it normally takes 1 to 2 working days. You can also receive the money from Kviku’s authorized channels such as Cebuana Cash Pick-up and GCash.
The requirements for a Kviku loan application:
You must be a Filipino citizen, 20-55 years old.
You must have a valid Government ID.
You must have a valid mobile phone number.
Optional documents that can help speed up the loan application process:
Certificate of Employment
DTI (if business owner or self-employed)
Kviku loan repayment? How do I pay?
After you confirm the contract, Kviku sends the money to you in a matter of seconds. Receiving banks, on the other hand, may take a little time to process the payments. You can expect to receive the fund within business hours, which are Monday through Friday from 8:00 a.m. to 4:00 p.m.
In the event that your application is approved after working hours (e.g., late at night), you will be able to receive your money the next morning. If you were approved over the weekend, you won't get your money until Monday morning.
Where do I pay my Kviku loan?
You can pay your Kviku loan repayment through bank deposit or bank transfer to Kviku’s account:
- Go to your Profile and click the “Pay Button” to generate the bank details.
- You can make your payment at the nearest bank branch or through mobile banking.
What happens if I can't pay?
Once you have received your money, you will have up to a maximum of 60 days to repay your loan if you’re a first-time borrower. You can repay your loan through the Kviku app or by bank transfer.
Payments made through bank transfers may take anywhere from 1 to 5 days, depending on the bank. To avoid being tagged as late payment,
If you do not repay your loan within the agreed time, you may be charged with late payment fee and interests. You can also expect repeated reminders from Kviku. If you default on your payment, the company may resort to legal means.
Kviku loan app
The Kviku loan app is a browser-based lending platform. There’s no need to download the app. You simply have to go to the Kviku log in page and apply for a loan. The application and processing all happen on the app when access the Kviku sign in page.
Kviku Philippines contact number
Kviku’s contact number is not disclosed on the website, but you can reach them through their e-mail at firstname.lastname@example.org.
Kviku customers complain about their high interest rates and lack of customer service. Some borrowers also complained about being automatically denied on their loan application even when they’ve submitted the basic requirements.
Kviku loan review
Kviku Philippines review on Google My Business is largely negative with an average rating of 1.3 stars. Most of the Kviku reviews we’re about high interest rates and being rejected for loan application almost automatically. There are also complaints about being charged even when the application didn’t push through. The difficulty in contacting Kviku is also a concern that users complain about.Have you used Kviku loans? Share your experience here!