How long is the loan application process?
  • The loan application process includes answering a brief application and uploading valid identification – this should take anywhere from 5-10 minutes.
  • After this, you simply wait for an App notification or for a representative to contact you.
  • The loan approval process can be completed within 24 hours and it can take up to 5 days depending on the completeness of the information you submit as well as the validity of the IDs you upload and the ease of being able to contact you directly.

What is InstaLoan?

    InstaLoan is pera247’s short-term loan offer. First-time borrowers who are in need of a fast and instant loan can apply for InstaLoan between ₱2,500 to ₱15,000 payable within 30 days.

    Rates are market competitive, please download the app to see what rates you are eligible for.


What is AffordaLoan?

    AffordaLoan is pera247’s installment loan offer with lower interest rate and longer term. Repeat borrowers with good credit record can apply for a loan between ₱10,000 to ₱30,000 payable by 6 payments in 6 months.

    Rates are market competitive, please download the app to see what rates you are eligible for.


What is ShopaLoan?

    ShopaLoan is pera247’s sales finance offering with low-interest rate and long repayment term. With ShopaLoan, you can buy the item with an amount ranging from ₱5,000 to ₱50,000, just by making down payment and the remaining balance to be paid on installments for 6 months.

    Which are the available Store’s/Merchant’s?

    Below are our LIVE partner Store/Merchant names:

    • Online Remal Trading and Services
    • Kedem Computers Trading
    • EDSA Furniture & Appliances Inc.
    • Anisah Electronics Gadgets and Accessories
    • Big Ben’s Wood & Iron Furniture Shop

    Can I order more than 1 appliance or gadget at once?

    You can only purchase one item per transaction. ShopaLoan is applicable for only one item at a time.


How do I apply?
  • Visit the Google Play Store and download pera247 App in your Android phone with version 4.1 or higher
  • After downloading the App, register for pera247 account by entering valid and in use phone number, a one-time password will be sent to your number for confirmation.You may then create a new password once confirmed


  • You will then be asked to select preferred loan amount and payment term
  • Provide your complete name, birth-date, place of birth and upload government issued valid ID
  • Please validate your identity further by uploading recent and clear selfie/photo of yourself
  • Provide a valid and in use email address, as it will be used for future notifications. An email with a 4-digit verification code will be sent to your registered email address. After entering the code in your pera247 app, you may continue with your loan application
  • Answer few other application questions as complete and accurate, as possible
  • Complete your personal information by answering employment details
  • Specify your loan purpose and upload Utility bill (optional)
  • Submit Payslip or COE (should not be older than 1 month) and additional Contact (landline, secondary and third party number) to increase your chances of loan approval (optional)
  • Carefully review all information you have provided to ensure accuracy and allow the pera247 App to access mobile data by granting needed permissions from your mobile phone

*This entire process should just take 5-10 minutes to complete and after completion of the application requirements, simply wait for a notification on your loan status or expect one of our representatives to contact you

 


Can I apply?

You may apply if you meet the following conditions:

  • You are currently employed and/or have a stable source of income from your own business
  • You own an Android smartphone with version 4.1 or higher
  • You have an active (frequently accessed and used) e-mail address that has been existing for at least for 6-months and is being used regularly to send and receive email messages
  • You are a Filipino citizen and currently residing in the Philippines
  • You are contactable and will respond to us through your mobile, landline or email address
  • You at least have 2 of the following valid government IDs:
    • Philippines Passport
    • Philippines Driving License
    • Tax Identification ID
    • Seaman’s Book
    • NBI Clearance (Not expired)
    • Digitized Postal ID
    • Police Clearance (Not more than 1 month old)
    • Senior Citizen ID
    • Voter’s ID
    • Unified Multi-Purpose ID (UMID)

*Though it’s not required but submitting recent Utility Bill (not older than one month, e.g.: electricity, water, phone line, internet connection & cable bill), showing your complete name and current billing address, may increase your chances of getting approved.

*For employed applicants, although not part of our application process, we suggest to send your Certificate of Employment or latest Payslip to pera247 team for additional chances of getting approved.


Can I apply for all loan products – InstaLoan, AffordaLoan, and ShopaLoan?
    You can only apply and get approved for 1 loan at any given time. AffordaLoan is only available for our repeat borrowers who have established good credit record in pera247.


What is the best loan product for me?
    If you are a first-time borrower in pera247, we recommend you to apply for InstaLoan first. For repeat borrowers, we recommend applying for AffordaLoan, which will allow you to borrow a higher loan amount with better payment terms. If you are planning to purchase item/products from our listed Merchants, you may apply for ShopaLoan.


What are the application requirements?
    To apply for any type of loan, you have to fill out our basic questionnaire and submit picture of your valid ID and one selfie.


How do you handle my personal information?

Safeguarding personal data is of the utmost importance to us and there are several ways how pera247 ensures data privacy and security. Following are our security measures in place:

  • pera247 uses a secure connection (https) as default, which means, when you send us data and documents through the pera247 app and/or email, the information received by us always comes in the encrypted format
  • We strictly comply and adhere to Data Privacy standards, whenever processing your personal information
  • only authorized pera247 staff can access, read and process customer information with the purpose of processing and verifying loan application details
  • pera247 ensures and strictly complies with Philippines’ Data Privacy Act (RA 10173)
  • pera247 ensures and strictly complies with Google Privacy Policy

What happens after I apply?

Your application will be reviewed and if needed, you will be contacted through your mobile number and/or following channels:

  • SMS
  • Phone Call
  • E-mail
  • App notification

You will then be advised on the result of your loan application (approved, not approved, or request for additional information).

We recommend you to check your pera247 app periodically for any updates and/or notifications from our end. This is to avoid delays in processing your loan application. We also recommend you to keep your phone lines open to receive call from our team, if needed.

 


How do I know my AffordaLoan or ShopaLoan installment schedule?
    All payment schedules are available in the main page of your pera247 app, once your application status turns to Active Loan.

    For InstaLoan, your due date and amount to pay are reflected in the main page of your pera247 app.

    For AffordaLoan and ShopaLoan, your installment schedule and amount to pay are reflected in the main page of your pera247 app.


What happens after I am approved for an InstaLoan or AffordaLoan?

Once you are approved, you will:

  • receive push notification in your mobile phone informing the approval status of your loan application
  • be able to select your preferred disbursement channel or method to receive your approved loan amount

The following channels are available for funds withdrawal:

  1. MLhuillier Branches via Paynamics
  2. SM Bills Payment via Paynamics
  3. BDO Branches via Paynamics
  4. Transfer to your Bank Account
Withdrawal Option #1: MLhuillier Branches via Paynamics

To claim your funds at your chosen MLhuillier Branch, follow the steps below:

  1. On pera247 app screen, select “Cash pick-up partners”.
  2. Choose MLhuillier Branches from the list of available channels.
  3. Take note of your reference code and the exact amount to receive.
  4. Go to the nearest MLhuillier Branch.
  5. Ask the teller for the claim form and fill up the following:
    • Tracking Number or Control Number:
    • Name of Sender: pera247
    • Name of Receiver:
    • Exact Amount to Receive:
  6. Present your 2 valid IDs and receive your cash.
    • Valid IDs: GSIS, SSS, UMID, Passport, Driver’s Licence, Voter’s ID, PRC
  7. Secure your official receipt.

Note: There is a Php165 Transaction Fee for every disbursement made using this method. Your loan will automatically update into a Live Loan status.

Withdrawal Option #2: SM Bills Payment via Paynamics

To claim your funds at your chosen SM Bills Branch, follow the steps below:

  1. On pera247 app screen, select “Cash pick-up partners”.
  2. Choose SM Bills Payment from the list of available channels.
  3. Take note of your reference code and the exact amount to receive.
  4. Go to the nearest SM Bills Payment branch.
  5. Ask the teller for the claim form and fill up the following:
    • Tracking Number or Control Number:
    • Name of Sender: pera247
    • Name of Receiver:
    • Exact Amount to Receive:
  6. Present your 2 valid IDs and receive your cash.
    • Valid IDs: TIN, GSIS, SSS, UMID, Passport, Driver’s Licence, Voter’s ID, PRC
  7. Secure your official receipt.

Note: There is a Php165 Transaction Fee for every disbursement made using this method. Your loan will automatically update into a Live Loan status.

Withdrawal Option #3: BDO Branches via Paynamics

To claim your funds at your chosen BDO Branch, follow the steps below:

  1. On pera247 app screen, select “Cash pick-up partners”.
  2. Choose BDO Branches from the list of available channels.
  3. Take note of your reference code and the exact amount to receive.
  4. Go to the nearest BDO Branch.
  5. Ask the teller for the claim form and fill up the following:

    • Tracking Number or Control Number:
    • Name of Sender: pera247
    • Name of Receiver:
    • Exact Amount to Receive:
  6. Present your 2 valid IDs and receive your cash.
    • Valid IDs: TIN, GSIS, SSS, UMID, Passport, Driver’s Licence, Voter’s ID, PRC
  7. Secure your official receipt.

Note: There is a Php165 Transaction Fee for every disbursement made using this method. Your loan will automatically update into a Live Loan status.

Withdrawal Option #4: Transfer to your Bank Account

To have loan funds disbursed into your preferred bank account, follow the steps below:

  1. Select “To Your Bank Account” from the disbursement methods available. (List of Banks)
  2. Select the preferred bank from the list of banks available
  3. Put in the bank account number and then click on “Add New Account”
  4. Select the bank account created and click on “Transfer Money”
  5. You will see an “Approved Status” on your app
  6. Read the Agreement form and click on “Sign Agreement”
  7. You will be advised that it might take up to 1 day for the funds to be available in your account
  8. You may check your account online or via ATM regularly to see if the funds are already available for withdrawal

Note: There is a Php75 Transaction Fee for every withdrawal made using this method

 

  • be asked to read and sign the Consumer Loan Agreement

What happens after I am approved for a ShopaLoan?

    Is there an expiration in availing my ShopaLoan?

    Approved ShopaLoan is only valid for 72 hours. Your loan will be automatically cancelled and you will need to apply once again.

    Can the item be delivered?

    You must complete the ShopaLoan transaction in the branch of the retailer/merchant and opt to get your item delivered afterwards. For delivery, you need to request the retailer/merchant directly.

    I’m approved for a ShopaLoan. When can I get my item?

    • Go to the retailer/merchant branch that you have selected in your loan application.
    • Present your mobile number and the same valid ID you have used during the loan application.
    • Once retailer/merchant confirms your ShopaLoan application, you must pay the down payment and wait for the loan status to change from Loan Approved for Financing to Active Loan status in your app and only then can you can claim your item.

    I entered the wrong down payment amount. What should I do?

    You will have to cancel your ShopaLoan application and apply again with the correct down payment amount. Please note that higher down payment gives you more chances of getting your ShopaLoan approved.

    Can I still cancel my ShopaLoan?

    If your ShopaLoan is approved and you have not yet signed your Loan Agreement, you may still cancel your loan by clicking on Cancel My Application option in your pera247 app. Once you have signed your Loan Agreement and have purchased your item, you will not be able to cancel your loan application and must pay your dues to be able to close the loan.


How do I repay?
  • Repayment is as simple as typical bill payment and can be completed through the following countrywide methods/establishments:

Over-the-counter

Repayment Option #1: Paynamics via Cebuana Lhuillier, SM Bills Outlet, True Money and other Partner Channels (Payment Posting: Immediate)
  • On your pera247 app, select “Payments” from the main menu of your application screen or tap “Pay My Loan” on Application status screen.
  • Click “Create Payment” and choose your preferred repayment channel.
  • Total to repay amount as of today is automatically reflected. To change payment amount, click on the box and enter your preferred payment amount. Click “Get Reference Code” to proceed. Note: A transaction fee will be added on your total amount to be paid depending on your chosen repayment channel.
  • Reference Code will be generated. Take note of your total amount to be paid and the reference code or you can view any time in the pera247 app > Payments > My Payment List.
  • Go to your nearest chosen repayment channel branch:
    • SM Bills outlets: The SM Store, SM Business Service Center, Global Pinoy Center
    • Cebuana Lhuillier
    • MLhuillier
    • TrueMoney
    • RD Pawnshop
    • JAT
    • HLhuillier
  • Present to the cashier / teller the following:
    • Biller Name: PayExpress or Paynamics
    • Reference Code
    • Total Amount to be paid
  • Reference code is only valid until 11:59pm of the date of creation.
  • Your payment will be automatically updated in your pera247 app. If you made a full payment, your loan status will change to Loan Closed. If you made a partial payment, you will see your updated loan details in your app.

We advise that you keep a copy of your payment receipt/s until your loan has successfully closed.

Repayment Option #2: Bayad Center Branches (Payment Posting: Immediate)
  • Go to any participating Bayad Center Branch. (List of Branches)
  • Fill out the transaction form slip indicating the following:

    • Biller: PERA247
    • Amount Due: Amount to be paid + Php 15 Transaction Fee
    • Account Number: Your Mobile Number (format: 639171234567)
  • Hand over your slip and cash to the cashier.

Note: Your payment will be automatically updated in your pera247 app. If you made a full payment, your loan status will change to Loan Closed. If you made a partial payment, you will see your updated loan details in your app.

We advise that you keep a copy of your payment receipt/s until your loan has successfully closed.

Repayment Option #3: 7-Eleven Cliqq Kiosk (Payment Posting: Immediate)
    • On your pera247 app, select “Payments” from the main menu of your application screen or tap “Pay My Loan” on Application status screen.
    • Click “Create Payment” and choose 7-Eleven (Cliqq kiosk) channel.
    • Total to repay amount as of today is automatically reflected. To change payment amount, click on the box and enter your preferred payment amount. Click “Get Reference Code” to proceed. Note: A transaction fee will be added on your total amount to be paid.
    • Reference Code will be generated. Take note of your total amount to be paid and the reference code or you can view any time in the pera247 app > Payments > My Payment List.
    • Go to your nearest 7-Eleven branch and look for Cliqq touch screen payment kiosk.

Note: If the Cliqq kiosk touch screen payment is offline, you can still pay using Cliqq app that you can download on Playstore and Google Play.

  • Select “Bills Payment” and then tap “More Billers” to proceed.
  • Click “Loans” and then select Biller ID: Payexpress Loans.
  • Enter the following personal details:
    • Reference number
    • Your mobile number
    • Total amount to be paid
  • Verify the details and tap “Next” to print for the payment slip.
  • Hand over your payment slip and cash to the cashier.
  • Your payment will be automatically updated in your pera247 app. If you made a full payment, your loan status will change to Loan Closed. If you made a partial payment, you will see an updated loan details in your app.

We advise that you keep a copy of your payment receipt/s until your loan has successfully closed.

 


Where do I send my payment receipt?

In order for us to confirm your payment, you need to upload a photo or scanned copy of your proof of payment/receipt using your pera247 app:

  • Go to your pera247 app.
  • Click “Send My Proof of Payment” button and upload your proof of payment/receipt.
  • Our system will update your Loan Status once it has successfully processed your payment which might take up to 1 business day depending on your payment channel.

Why should I pay on time?

Paying your loan on time or before the due date will make you a responsible borrower. In addition, you will benefit as below:

  • You will develop a good credit history, which enables you to borrow again (even from other financial institutions like banks) and at lower costs
  • You can be granted a higher loan amount the next time you re-apply for a loan
  • No additional fees or interest
  • No collection reminders or SMS notifications about the due payment
  • Avoid calls and notices from third-party collection agency
  • Avoid getting blacklisted by credit bureaus or other databases used by employers in background checks or by bank and other financial services firms in review of other financial product applications you may have applied
  • Avoid possible legal actions

What if I missed a payment?

If a payment has not been made by the due date, this can result in:

  • Late fees and additional charges being assessed and applied
  • Calls and notice reminders from third-party collection agencies
  • Several missed payments could result in loan default status and could lead to blacklisting you with credit bureaus and databases used by employers and creditors for background checks

Please refer to the payment posting timelines to avoid late payments:

  • Paynamics via Cebuana Lhuillier, SM Bills Outlet, True Money, and other Partner Channels (Payment Posting: Immediate)
  • Bayad Center Branches (Payment Posting: Immediate)
  • 7-Eleven Cliqq Kiosk (Payment Posting: Immediate)

Can I pay early or make partial payments for my InstaLoan?

You can without the penalty. You will only be charged interest for the period you kept the loan


Can I pay early or make partial payments for my AffordaLoan or ShopaLoan?

Yes, you can make a full prepayment or partial repayment any time during your loan term without any penalties.

Any prepayment you make will be deducted from your current payment schedule and excess payment will be applied on your last payment installment. The amount of your monthly installment will remain unchanged and the term of the loan may decrease depending on the overpayment amount.


Can I request a different payment schedule and terms?

No, you cannot request for different payment schedule and term. You have to follow your payment schedule term and pay the necessary due amount.


Can I reloan?

Provided you pay on your due date, you will be qualified to re-loan with a simpler and quicker process.

You must not have any overdue or active loan with pera247 to qualify for the new loan.


What is the Loan Term Extension and how can I avail?

What is Loan Term Extension?

pera247 reserves the right to offer loan term extension. Just click on the Extend my Loan Term button when the offer pops up in your application. After availing, please pay interest and other fees and wait for your payment to be updated. After you have extended your loan term, your loan status will become Active Loan for 15 days and your next payment details will be reflected in the app.

For 15 days, collection activities will stop and normal interest rate will incur. Collection and reminder activities will resume 5 days prior to your new due date (based on the extended loan term) (edited)

Am I eligible to extend my loan term?

The loan term extension is available to the clients with Active Loan status from 5 days prior to payment due date to 60 days past due date

How can I extend my loan term?

The loan term extension is available to clients with Active Loan status from 5 days prior to payment due date to 60 days past due date.

Follow are the steps to extend your loan term:

  • Click on the Extend my Loan Term button in your pera247 app.
  • After clicking, the total amount to repay for extension will be shown on the screen. Click Pay Amount to Extend buttonn.
  • Select your preferred repayment channel, enter the amount to repay and click on Get Reference Code button.
  • Once you have the reference code, go to the nearest outlet of your selected repayment channel to make a payment.
  • Once your payment is reflected in your app, your pera247 app will show your updated due date and total amount to repay

When can I extend my loan term?

When can I extend my loan term?

For the clients with Active Loan status, you will see Extend my Loan Term button in your pera247 app, from 5 days prior to payment due date to 60 days past due date.

It is best to avail the loan extension offer on or before your due date so that you can keep your good record with us and avoid overdue penalty and fees. This will also help you with your next re-loan application.

If you decide to extend loan after the due date, your loan status will return to Active Loan status and this will negatively affect your credit record with us

How many times can I extend my loan term?

You can extend your loan term for only 10 times. To avoid negative credit record, penalty and interest fees, please always make payments on or before the due date for every loan extension.

How many days can I extend my loan term?

Once your loan is extended, it will be automatically extended for 15 days only. You cannot extend or shorten your loan term other than 15 days.

What will happen if I pay more than the total amount to extend?

If you decided to pay more than your total amount to extend, the excess payment will be deducted from your principal loan amount and it will help lower your remaining due amount. Please always make sure to sign loan agreement within the day of repayment to successfully extend your loan term. If ever you failed to sign the loan agreement within the day of repayment, please report to us through Contact Us form or send an email at info@pera247.com

What will happen if I pay less than the total amount to extend?

If you will pay less than the required amount to extend the loan, your payment will be considered as partial payment and your loan term will not be extended. And you will continue to incur interest.

What should I do if my payment was not updated automatically?

If your payment is not reflected immediately, please upload the payment proof using your pera247 app and report to us through Contact Us form. You can also send us an email at info@pera247.com, so we can verify your payment and assist you in signing the loan agreement.


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