In recent years, online platforms and mobile applications have become increasingly integral to daily life, especially in the financial sector. One such platform is Lazada, a leading e-commerce platform in Southeast Asia. Responding to the growing demand for financial services, Lazada has introduced its new Lazada Loans App, designed specifically for users in the Philippines. This app aims to simplify the loan application process, making it quick, convenient, and accessible for everyone.
For first-time borrowers, the loan amount ranges from a minimum of P500 to a maximum of P20,000, depending on the partner lender. As you build a positive repayment history by paying your loans in full and on time, your credit limit increases, allowing you to borrow larger amounts in the future. However, it is important to note that currently, none of the accredited partners offer loans exceeding P50,000.
Applying for a loan through the Lazada Loans App is a simple and straightforward process:
The introduction of Lazada Loans App is poised to have a significant impact on the Philippine financial market. It addresses a crucial gap in the market by providing accessible and quick financing options to those who may not have access to traditional banking services. This democratization of financial services can empower individuals and small businesses, fostering economic growth and stability.
Additionally, by integrating financial services with its e-commerce platform, Lazada is creating a holistic ecosystem that enhances customer loyalty and engagement. This strategy not only benefits Lazada’s business model but also contributes to the broader digital economy in the Philippines.
Lazada App represents a significant advancement in the field of digital financial services in the Philippines. With its user-friendly interface, rapid approval process, and secure transactions, it offers a compelling solution for those seeking quick and accessible loans. As it continues to evolve, the app is likely to play a pivotal role in shaping the future of digital finance in the region, making financial inclusion a reality for many Filipinos.
Yes, you can apply for a loan either through the Lazada app or on a desktop, depending on what is more convenient for you. Both methods support the submission of necessary documents and images.
Yes, if your application is denied by one lender, you can apply with another. You can apply for multiple loans with different lenders and choose the approved loan that suits you best. Additionally, it is possible to have more than one loan at a time (limited to one per lender) if you require a higher loan amount.
Yes, several of our partners offer a 0% interest loan for first-time borrowers. After this initial loan, subsequent loans will be subject to normal interest rates ranging from 2% to 4%, excluding processing fees. You can find these offers by visiting the Lazada Loans page and filtering by interest rate.
The approval time can vary depending on the partner. Once all application requirements are submitted, the process can be as quick as instant approval or take up to 24 hours.
The requirements vary by partner. At a minimum, you will need a government ID (such as a Passport, Driver’s License, SSS, or Pag-ibig ID). Some lenders may also require proof of billing and the latest pay slip.
The loan amount is disbursed directly to your Lazada Wallet, and it can only be used for purchases on Lazada. This is not a cash loan.
No, a guarantor is not required for a Lazada Loan. Unlike larger loans such as housing or auto loans, the loan amounts are smaller and do not require a financial backer.
If you apply between Monday and Friday, the funds will be credited to your Lazada Wallet within a few hours to a maximum of 24 hours after approval. Applications submitted on Saturday or Sunday will be credited by Monday afternoon. Crediting is done during business hours on weekdays.
The loan amount is credited to your wallet in full, allowing you to make purchases on Lazada. Repayment is done in monthly installments.
Yes, you must repay the loan according to the repayment schedule agreed upon, regardless of whether you use the credits.
The loan repayment is made directly to the lender, not to Lazada. Most lenders offer various repayment channels, such as bank transfers, over-the-counter payments, and bills payment centers. The lender will provide specific instructions on how and when to repay your loan.
Repayment terms depend on the loan agreement with the lender. You can choose the number of months for repayment, and once finalized, you must adhere to the agreed schedule.
You can purchase anything available on Lazada with your wallet credits. The credits function as a balance, so any unused amount will remain available for future purchases.
You will need to top up your wallet by visiting the Wallet homepage and selecting a Cash In method (e.g., bank transfer, over-the-counter, GCash). You cannot combine the Wallet with another payment method, so ensure you have enough funds in your Wallet to cover the total purchase amount. The minimum cash-in amount is P20.
No, the wallet credits from a Lazada Loan do not expire. You can shop whenever you want or save the credits for a future purchase. You can also apply for additional loans or top up your wallet to accumulate more credits, all of which do not expire.
No, as a Lazada seller, you will be paid in full for your sales just like any regular transaction. The loan repayment is strictly between the customer and the lender, and it does not affect your payment from Lazada.
Applying does NOT affect your credit score!
No credit check to apply.