Loan Agreement and Terms
These Terms and Conditions govern your use of Peranyo Agad loan services provided by ARCH Lending Corporation, a company duly organized and existing under Philippine laws. By applying for a loan through our platform, you agree to be bound by these terms and conditions. Please read these terms carefully before submitting your loan application.
Eligibility Requirements:
1. You must be at least 21 years old and not more than 65 years old at the time of loan application.
2. You must be a Filipino citizen or a permanent resident of the Philippines with valid government-issued identification documents.
3. You must have a regular source of income and provide proof of income as required by our underwriting process. Minimum monthly income requirements may apply depending on the loan amount requested.
Loan Terms and Interest Rates
a. Interest Rates: Interest rates range from 1.8% to 2.5% per month depending on the loan type, amount, and borrower's creditworthiness. All interest rates are clearly disclosed before loan approval and are fixed for the duration of the loan term.
b. Loan Amount: Personal loans range from ₱5,000 to ₱25,000, business loans from ₱25,000 to ₱100,000, and emergency loans from ₱1,000 to ₱15,000. Final loan amounts are subject to our credit assessment and approval process.
c. Repayment Terms: Loan terms vary by product: Personal loans 90-180 days, Business loans 3-12 months, Emergency loans 90 days. Early repayment is allowed without penalty. Late payment fees may apply as disclosed in your loan agreement.
Borrower Obligations and Responsibilities
By accepting a loan from Peranyo Agad, you agree to repay the full loan amount plus interest according to the agreed schedule. You must provide accurate and complete information during the application process and notify us immediately of any changes to your contact information or financial status. Failure to comply with repayment terms may result in additional fees and impact your credit standing.