Cashwagon Loans

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Why Cashwagon?
Cashwagon Advantages
Amount Allowed
Php2,000 up to Php20,000
Minimum Age
21
Maximum Age
65
Tenure
30 days
Interest Rate
Starting at 1.5%
Extensions
Allows for extensions of 30 days

Costs and commissions

Credit History Check
NO
Payroll Loans
Extensions
Allows for extensions of 30 days
More Information

What is Cashwagon?

In a nutshell, Cashwagon is a financing company that provides short term (or possibly long term) loans to individuals who need money quickly. Cashwagon is known for being able to process loans in just a span of twenty-four hours with just an application time of twenty minutes. That’s a lot of time saved as compared to applying for a short term bank loan or a credit card loan.

Other than that, Cashwagon is known to be rather transparent with their process as well as their fees. The company ensures that all the charges and the terms are clearly stated beforehand, and you must agree with the terms and conditions before you secure the loan.

It is for that reason that the people who apply for loans in Cashwagon are the ones that need money for emergency purposes such as salary workers who do not have extra cash on hand and need to pay sudden expenses.

How Does Cashwagon Work?

We mentioned earlier that the application process only takes around twenty to thirty minutes. In a bank, the application process may take hours because there is a line to wait in, an application form to fill, and requirements to scrutinize.

You see, the reason as to why Cashwagon’s application process is so quick is simply because everything is done online. First, you need to go to the website and access the official application form found there. Simply fill out the application form and pass the necessary documentation details to the website. From there, you just simply have to wait for the approval. This will take a day to process.

A representative will contact you within the day to notify you if your loan is approved or not. Once your loan gets approved, they will remit the money via your bank account. The money is usually remitted to you within the same day of the application.

Cashwagon Simulator

It’s pretty common to have no knowledge when it comes to loans because these things were never discussed in schools. So you might not know the amount of interest you need to pay per payment period or how many installments you need to have in order to pay off your loan. For the purpose of helping customers, Cashwagon allows you to do a Cashwagon debt simulation.

The Cashwagon debt simulator comes in the form of a calculator. All you have to do is enter the details of the loan that you’re looking at and the calculator will automatically compute the necessary details that you need to know. You’ll be able to get the details such as interest owed, tenure, and other important things.

That way, you’ll have a clear idea of how much you should put aside per payday so that you can successfully fulfill the loan amount.

Is Credit History Factored in?

One of the biggest factors as to why most loans are declined is because of credit history. Most middle-class workers either have no credit history or have a not-so-good credit history. Due to this, their loans are usually turned down since the banks that they’ve applied to are not confident that the applicant can return the loan amount.

Of course, there is always the option to get a co-signer, but the credit history of the applicant and the co-signer will also matter here. So if the co-signor also does not really have a good credit history, your loan may still get rejected.

With Cashwagon though, things are a little bit different. They usually don’t take the credit history into consideration. Short term loans are considered safer for them which is why they don’t need credit checking. They do have their own ways to keep safe from loan defaults.

Loans without Payroll Cashwagon

One of the main ways most online lenders ensure that their loans won’t default is to ask for pay stubs or auto-debit from payroll. These loans are known as payroll loans. They’re safe because they are ensured that the borrower has a job and will receive salary every twice a month.

But how about those who are not part of a payroll? Can they still get a loan from Cashwagon?

Fortunately, it is possible to still get a loan from Cashwagon even without payroll. What Cashwagon does is that it usually asks for the bank details of the borrower. Bank accounts are usually asked for. They don’t usually ask for bank statements or other bank documents, but they do need some of the important details to know if you regularly have money in your bank. If you do, then the chances of getting the loan approved will get higher.

How to Apply for a Cashwagon Loan?

Earlier, we mentioned how the process of securing a loan in Cashwagon works. With that, you have some idea as to why the process is so fast (just 20 minutes application and 24 hours approval). In this section, we’ll go deeper into the process by explaining the steps of how the application goes. You can check out the steps below:

Steps to Applying for a Cashwagon Loan

  1. Visit the website and sign up for an account.
  2. Fill up the application form by entering your personal details and your bank details.
  3. Make sure to submit a copy of your ID.
  4. You will receive an SMS with the interest rates and tenure.
  5. Confirm the loan and you will receive the money in your bank account.
  6. Withdraw the money and schedule your loans payments!

Cashwagon Loan Requirements

As we mentioned above, there is actually no need for that many requirements. That is one of the aspects that make Cashwagon so attractive in the first place. That’s also why Cashwagon is the place to get a loan if you have an emergency and need some money right away. Here are a few of the loan requirements that you need in order to process your application:

  • 1 valid government-issued ID
  • Completely filled application form
  • Bank account details
  • Mobile phone number

So long as you have all of these, then you should have no problem getting your loan. Cashwagon rarely asks for any more documents. In the event that they do, the extra requirements that they need aren’t so hard to provide. You can most likely provide them within the same day of application.

How Long Does It Take to Get Money?

As mentioned above, the application will take just 20 minutes or less while the approval may take up to 24 hours. Within the same 24 hours, you will get an SMS or a call providing you with the details of your loan. Once you confirm receipt of contact from the representative, the money will be sent to you latest by the next day. In essence, you can actually say that it will take one day from the receipt of the SMS before you can get the money.

There are actually times when the process may be delayed. This may be due to holidays and other unforeseen events. However, they do have a hotline wherein you can call them up to follow up. They will usually give you the lead time as to when they’ll get back to you regarding the application. That way, you know how long you should wait.

Extensions of Cashwagon Loans

There will probably be times when you won’t be able to pay your loan on time because of some financial circumstances. In the event of these circumstances, can you extend the tenure of your loan?

Fortunately, you can ask for some loan extensions so that you won’t have to worry about defaulting the loan. Here are the conditions when asking for Cashwagon loan extensions:

Extensions Right Before the Due Date

Let’s say that you foresee financial trouble and can’t pay your loan during the due date. You can call up the company and ask for an extension. However, the max loan term extension that the company can give is only thirty days from the previous due date.

You must also take note that the extension will be subject to additional fees. These include loan term extension fees and other interest fees.

Extensions After Due Date

What if you thought you could pay but ran out of money on the due date itself? Well, you can still ask for an extension during this time. You will get an extension of 30 days from the due date. You will also be subject to loan term extension payments and other interest fees as well.

Can You Ask for Additional Extensions?

If you already asked for an extension but still can’t pay in the next due date, you can ask for an additional extension. Take note that all additional extensions will be 30 days from the due date. Also, every extension will require you to pay the loan term extension fee. Other interest fees and penalties may apply as well.

Eligibility for Loan

Is everyone eligible to take up a loan in Cashwagon? In a general sense, yes because you don’t even need to be employed to take up a loan in Cashwagon (although it is more advantageous if you are). And you just need to have a valid ID with you plus a bank account.

However, there is an age requirement that you need to take note of. First of all, you need to be at least 21 years old before you can borrow money. It makes sense since this the usual age wherein a person can get a job. So if you are found to be below 21 as per your government ID, you will not be eligible to have the loan.

Cashwagon is also pretty strict with seniors when it comes to loans. This also makes sense because most seniors above the age of 60 to 65 are already retired and most likely unemployed. So as per the terms and conditions of Cashwagon, those who are above 60 are not eligible to take up a loan from Cashwagon.

Interest Rate

Interest rates in Cashwagon are not that high either. There are a few promos wherein you may get your first loan amount at 0% with some terms and conditions that apply. However, the standard interest rate starts at around 1.5% per month for Cashwagon. However, the interest rates may go higher depending on certain factors that may affect the loan. The 1.5% can act as a starting interest rate or the bare minimum.

Conclusion

When most people talk about loans, the first thing that usually comes to mind is bank loans wherein you need to wait in very long lines and go through a lot of scrutiny before you can get the cash in your hands.

Due to recent innovations though, the bank isn’t the only place for you to get a loan. There are online lenders that can help you get loans even if you don’t have a credit history. These loans are processed quickly and without much trouble. One of these online lenders that are really well-known is none other than Cashwagon.

For those who need money on the go, Cashwagon is a very useful platform to consider. Because of the very fast processing, minimal requirements needed, low-interest rates, and flexible terms, Cashwagon has become a lending hub for those who are in dire need of short term loans.

The money that you borrow can be used for a whole range of reasons from paying for emergencies to paying off debts with bigger interest rates. The whole beauty of Cashwagon is that it reaches out to people who have difficulty getting loans from traditional lenders such as banks or big financial institutions. It is extremely helpful and popular among regular salary workers and unemployed individuals. During tough times, Cashwagon can save the day.

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