What is TendoPay?
TendoPay is your one-stop solution to buy all your shopping desires and pay for it later through a 2 to 12 months’ installment plan. TendoPay is convenient, offers interest rates as low as 0.5%, no need for good credit scores to qualify, has a lot of partnered merchants all around the country, and provides fast approval.
With TendoPay, shop with hassle-free transactions in over 400 different stores. There are no hidden fees and you can go shopping at the comfort of your home.
TendoPay Cash Loan, how does it work?
TendoPay offer easier and more transparent shopping and will show you periods of time for your repayment. You can get started by applying through their app. A valid ID is needed and recent proof of income. Once your application is approved, you can now use the money you loaned from TendoPay to purchase a product from your favorite merchants.
What is buy now and pay later?
TendoPay lets you buy now and pay later. The latter is short-term financing that allows people to purchase and pay for the product in the future.
How much is the TendoPay loan?
You can borrow money in the amount of 2,000 pesos to 30,000 pesos in TendoPay. But the money you may borrow still depends on their assessment of your application. Don’t worry, the more purchases you make with TendoPay, the chances are higher that they’ll increase the credit limit of your account – assuming that you pay on time.
Interest rate
The monthly interest rate on TendoPay cash loan goes from 0.5% to 5% and also the Annual Percentage Rate of our TendoPay installments go from 24% APR to 72% APR.
Is TendoPay legit? Is SEC Registered?
Yes, TendoPay is legit, safe, and all of their loans are regulated under the Securities and Exchange Commission (SEC Registration No. CS201820732, Certificate of Authority no. 1228). You may also get acquainted with TendoPay’s terms & conditions before proceeding with a loan. In that way, you don’t have to second guess or have doubts about sharing your information with them.
How long does it take to claim the loan money in TendoPay?
The application can last up to 5 minutes. While the approval can last up to 24hrs. After that, the funds are going to be cleared depending on the amount, but usually, 2 to 3 banking days are enough. Just make sure that you put the right information upon opening your TendoPay account so your IDs and other requirements will match their records. Thus, creating a fast approval and fewer application problems.
TendoPay Benefits
- The interest rates of TendoPay can go higher up to 5%, which is one of the lowest in the market.
- TendoPay has one of the fastest approval transaction.
- Loans can have up to 24 months to proceed with the payments.
- In the case of repeated clients, they can access to loans up to PHP 100,000
- The loan's approval time is commonly 3 hours.
TendoPay vs BillEase
- TendoPay offers minimum interest rates of 0.5% while BillEase offers a minimum of 3.6%.
- TendoPay has a succesful rate of fast approvals for their loans compared to BillEase which can last up to a day.
How to apply for TendoPay Cash Loan?
Applying for a TendoPay Cash Loan is easy and secure. But, you need to open an account and submit all their requirements in order to get approved. Follow the preceding steps to know how you can register and open a TendoPay account.
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Go to app.tendopay.ph/register and register. Make sure to provide a clear identification card and current address.
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Take a selfie and a picture of your own income proof.
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Answer all their security questions.
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Once done, wait for the email that says your application is approved. This may take longer, especially if TendoPay is reviewing lots of applications from others.
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Now that you have the amount you loaned, use it to purchase products from different TendoPay merchant partners, particularly Shopee and Lazada.
Requirements
- Have at least 18 years.
- A valid email address and phone number.
- A valid ID such as Driver’s License, PRC, UMID/SSS card, or Passport.
- Provide a utility bill like: internet, phone, water or cable bill.
- Proof of income.
TendoPay Cash Out Process
Assuming that you are successful on your TendoPay application, the processes of cashing out in TendoPay vary depending on the merchant. But you can find your favorite merchant through the TendoPay website. Normally, it works by getting a coupon order by TendoPay and you can use that coupon upon purchasing products or e-Wallet top-ups.
How to pay TendoPay Installment?
The summary of purchases you made through TendoPay loans can be seen through their application. You can pay the monthly installment amount through online banking, bills payment center, e-Wallets, or 7/11.
What happens if I can't pay?
If there are instances that you’re not able to pay back, TendoPay will block your account from making any purchases until you settled the remaining balance. Reminders are continuous and there are no upfront or penalty fees for late payments.
How to increase credit limit?
If you are successful in following the terms & conditions of the loan agreement you'll be able to increase your credit limit are higher.
TendoPay Partner Stores
You can shop with over 400 merchants online with TendoPay, including Lazada and Shopee. Some partnered popular merchants are Zalora, Toby’s sports, Samsung, Vivo, Isetann, 7/11, Cherry Mobile, and many more!
TendoPay app
If you want to purchase products from Lazada or pay utility bills through GCash, TendoPay made it easy for you. You can do this by creating a Lazada account and activating the e-Wallet of the latter. Once done, you can find and choose the Lazada merchant site in the TendoPay app and select your preferred amount. Click the “Buy Now” icon that will lead you to the payment page. After a day or two, funds will be available on your Lazada Wallet which you can use to purchase your desired products.
For Gcash, e-wallet top-ups are available in the TendoPay app. The app is very user-friendly so you won’t have to worry about the complicated process of putting funds into your Gcash wallet.
TendoPay Phone and Contact
Unfortunately, phone numbers or email addresses are not available in case you want to raise a concern. But you may contact TendoPay through their website and filing out all the necessary details regarding any problem. Go to https://tendopay.ph/contact for more details.
TendoPay reviews
A lot of people recognize TendoPay for its authenticity and legitimacy. Many say that the app also protects your personal information as it’s TendoPay’s top priority. People also describe TendoPay as a credit card without the plastic. Perfect for a convenient shopping experience without the scary high-interest rates.
Have you used TendoPay cash loan? Share your experience here!