What is Peso Buffet?
Peso Buffet loan app is an online lending app developed by the Philippine-based financial services company, Copperstone Lending Inc. The app is designed to provide quick and easy access to cash for unbanked and underserved Filipinos.
This online lending platform makes the borrowing process easier and more accessible than ever before. Unlike traditional lenders, Peso Buffet does not require collateral or a co-signor to secure a loan. Instead, borrowers can apply for a loan based solely on the information they provide on the application form.
Peso Buffet loan, how does it work?
The app provides a simple way for users to apply for loans without having to fill out lengthy paperwork or go through extensive background checks.
Designed with convenience in mind, the Peso Buffet app allows you to view available loan offers, check eligibility, and apply for a loan on their device with just a few taps. Once approved, funds are transferred directly into your endorsed bank account or e-wallet within minutes so you can start using the money right away. What's more, all transactions are done securely over encrypted networks ensuring customers' data is protected at all times.
Interest rate
Peso Buffet’s interest rate, as shown on the Securities and Exchange Commission listing, is 60% per annum. However, on the website, the published interest rate is 10%-20% per year. The loan repayment term is anywhere from 180 to 365 days.
Is Peso Buffet loan app legit?
Yes, the Peso Buffet loan app is indeed a legitimate company owned and operated by an SEC-registered company.
How much is the Peso Buffet loan?
You can borrow anywhere from PHP2,000 to PHP10,000. If you’re a new borrower, you’re not automatically eligible for the maximum loan amount. But if you pay off your first loan on time and build good credit standing with Peso Buffet, you can get higher loan amounts on your subsequent loans.
Is Peso Buffet loan app registered?
Yes. Copperstone Lending Inc., the company that operates Peso Buffet, has been registered with the Philippine Securities and Exchange Commission (SEC) since May 6, 2021. It has a Certificate of Authority to operate as a lending company.
Peso Buffet loan app benefits
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Peso Buffet’s application process is quick and easy. The app also allows borrowers to instantly check their eligibility for the loan amount they require and receive approval in just minutes after the submission of all required documentation. Once approved, the funds are deposited directly into the borrower’s bank account within one business day.
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The Peso Buffet app asks for minimal documentary requirements when applying for a loan. Borrowers need only to submit basic information and a valid ID.
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Peso Buffet helps you track your payments and reminds you when instalments are due.
Peso Buffet loan, how to apply?
Peso Buffet’s loan application process is quick and easy. To apply for a loan, you must first download the app from the Google Play Store. Register with your mobile phone and fill out the built-in application form.
All that is required from you is your basic personal information, such as your name, address, mobile number, and email address. It will also ask about your current employment and source of income.
Select the loan amount and repayment terms and then submit the application. Peso Buffet will review your application and come up with a loan offer. The entire process usually takes less than 24 hours from application to disbursement of funds, which is much faster than traditional bank loans that can take several weeks to be approved.
Requirements
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You must be a Filipino citizen.
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You must be at least 18 years old.
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You must have a valid government-issued ID.
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You must have a regular employment or other source of income.
Peso Buffet loan, how to pay?
Go to the app and select among the different payment options. You can conveniently pay your loan through the following authorized Peso Buffet payment partners:
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GCash
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Maya
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M Lhuillier
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RD Pawnshop
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7-11
What happens if you can't pay?
If you miss your payment due date, Peso Buffet will send out reminders and notifications via SMS. These reminders include payment instructions and other details such as late fees and any extra interest that may be incurred by missing the payment deadline. If your continue to ignore these requests, additional charges may be added onto the total amount owed.
In some cases, lenders may even choose to endorse a delinquent loan account to a collections agency, where they may pursue legal action against you in order to recover the debt owed.
Not paying your loan can be detrimental to your financial health and credit score in the long run and you may not be able to get access to loans in the future.
Peso Buffet loan app
The app is downloadable from the Google Play Store, which means that it went through rigorous testing to make sure it meets Google's high standards for safety and security. In this aspect, users can trust that the app will not harm their devices or risk their personal information.
App download
The Peso Buffet app is only available for Android phones, and it can be downloaded from the Google Play Store. The app is not available for the iPhone.
Peso Buffet, customer service
Peso Buffet has no Hotline, but customer support can be reached via e-mail at Wlilkengcdeo@hotmail.com .
Peso Buffet loan app, harassment and complaints
Some Peso Buffet borrowers have shared their experiences in using the loan app. Customers have alleged that the company's aggressive collection methods include sending numerous text messages and making threats against those who are unable to pay back their loans on time.
They are accusing the company of deceptive practices and aggressive debt collection techniques, including calling people on the borrowers’ contact list. Many customers remain wary of using Peso Buffet due to its potential for causing distress, embarrassment, or financial damage if they fail to meet repayment deadlines.
Peso Buffet loan app, reviews
The Peso Buffet app has a positive rating of 4.6 stars in the Play Store, which suggests that the loan app performs satisfactorily. It delivers on its promise to provide quick short-term loans even to people with bad credit or has no credit history. However, all the things that Peso Buffet has done right have been eclipsed by abusive debt collection practices that harassed borrowers and made them feel ashamed and embarrassed.
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