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Get Cash When You Need It: Complete Guide to PondoPeso Loan Application

Moneymax Editorial Team

Moneymax Editorial Team

Last updated February 08, 2022

Gone are the days when you had to go to the bank to apply for a loan. Over the last few years, several fintech companies have developed mobile apps that allow people to borrow money online. This is a significant milestone in the Philippine financial landscape since more Filipinos get the chance to secure cash whenever they need it.

There are countless online lending apps out there, and the choices may overwhelm you. But if you’re looking for an alternative to the most popular ones, consider using PondoPeso.

Before you install the app and start your PondoPeso loan application, here are some important things that you need to keep in mind:  

Who is PondoPeso?

pondopeso loan application - Who is PondoPeso?

Owned by Fynamics Lending, Inc., PondoPeso describes itself as one of the unique fintech platforms in the Philippines that provide financial mobility anytime, anywhere. In simpler words, it’s an online lending app.  

If you’re asking if PondoPeso is running a legitimate operation, yes, this company is registered with the Securities and Exchange Commission (SEC).[1] And according to PondoPeso, its services are based on mobile internet security technology and big data analysis.[2]

What is a PondoPeso Loan?

A PondoPeso Loan is a short-term loan that will help you purchase what you need or tide you over in case you’re cash-strapped. It’s a non-collateral loan, so there’s no need to surrender an asset in exchange for cash.

PondoPeso Loan Key Features

pondopeso loan application - PondoPeso Loan Key Features
  • Loan amount: PHP 5,000 to PHP 40,000 
  • Annual contractual rate/Effective interest rate: Up to 10.05%
  • Loan terms: No less than 91 days
  • Loan processing time: One hour
  • Disbursement time: One hour (still depends on the mode of transfer you chose)

NOTE: The loan amounts and rates may change without prior notice. If you want to get an updated list of these figures, we recommend that you contact PondoPeso by sending them an email via cs@pondopeso.com or a message via their official Facebook page.[3]

Read more: Buy Now, Pay Later: How to Use TendoPay for Online Purchases

Where Can I Use a PondoPeso Loan?

A PondoPeso loan is ideal for those who need to finance short-term needs. Here are some of the situations where this loan will definitely prove useful.

1. Gadget Purchase

If you’re planning to upgrade to a new gadget yet you don’t have enough funds, you can use the PondoPeso loan proceeds to increase your budget.  

2. Online Purchase

With a PondoPeso loan, you can add items to cart and check out without worrying about your budget. You can get an extra boost during major online sales with the cash you’ll receive from PondoPeso.

Read more: Lazada Loan: What Online Shoppers Need to Know

3. Groceries

You might have miscalculated your household budget this pay cut-off, and you’ve just realized that you don’t have enough money for groceries. This shouldn’t be a problem anymore once your PondoPeso loan application is approved.

4. Emergencies

Unexpected events, such as accidents and sickness, can take a toll on your family’s budget. If you don’t want to blow up your entire emergency fund, you may borrow some cash from PondoPeso.

How to Apply for a PondoPeso Loan

The PondoPeso loan application process is pretty straightforward. It’ll only take a few minutes for you to register. But foremost, keep in mind that only Filipinos 18 years old and up are allowed to apply.

Here are the steps that you need to follow:

  1. Go to the PondoPeso website.
  2. Click Get the App. An APK file will be automatically downloaded.
  3. Install the APK file to access the PondoPeso app. 
  4. Open the app. On the application page, supply the needed details, such as job information. You’ll also be required to submit ID information.
  5. Indicate your loan amount, loan terms, and your preferred method of fund transfer. Existing options include GCash and Coins.ph. Nonetheless, PondoPeso assures borrowers that more options are coming.
  6. Double-check your details and complete the application. Once you’re done, wait for the validation of your application.
  7. Within an hour, you may get confirmation that your loan has been approved. Wait for PondoPeso’s message.

NOTE: The PondoPeso app is originally available on Google Play. But as of this writing, the PondoPeso app has been removed from the said app store.

PondoPeso assures its borrowers that the app is being improved to conform to Google Play’s updated terms and conditions. This is the main reason borrowers and would-be clients are instructed to download an APK file to access the app.

Read more: All You Need to Know About Buy Now, Pay Later Installment Loans in the Philippines

What are the Advantages of a PondoPeso Loan?

pondopeso loan application - advantages of pondopeso loan

There are a few things that will convince you to go for a PondoPeso loan application. Here are some of them:

1. Paperless and Quick Application

With this feature, you won’t have to download an application form and write down your personal details. All applications can be completed online by just using a smartphone. You can actually create an account in as fast as one minute.

2. Fast Approval

PondoPeso offers one of the fastest turnaround times in the digital lending market. Some applications are processed in eight minutes. Moreover, the maximum time for crediting the funds to your nominated account is usually just one hour.

3. Full Transparency

PondoPeso prides itself on being a transparent fintech company. It makes sure that all the fees are fully specified and the loan terms and conditions are clearly explained.

4. Ideal for Small Purchases

Because the PondoPeso loan is designed for short-term needs, you can easily borrow money that you can use for immediate expenses. Whether you need to buy groceries or pay for your kid’s school project, the loan proceeds that you’ll receive will be of great help.

What are the Disadvantages of a PondoPeso Loan?

The PondoPeso loan is not without some drawbacks. So, before you start your PondoPeso loan application, consider the following things:

1. High Interest Rates  

Just like other short-term loans, the PondoPeso loan comes with a higher interest rate. This is basically a trade-off for their easy application process. It’s also one of its ways to protect its business.

2. Limited to Mobile Application Only

While PondoPeso has a website, it’s not designed to accept PondoPeso loan applications. Instead, applicants are required to download the PondoPeso app where they can register. 

Another problem one may encounter is that the said app is only available to Android devices. So, if you’re an Apple user, applying for this loan won’t be possible at the moment.

3. Not Ideal for Big Purchases

Because the PondoPeso loan is a short-term loan, you can’t expect it to pay for big-ticket purchases, such as a house, a car, or even top-of-the-line appliances. Nevertheless, you can still use the loan proceeds to bump up your existing budget for a specific financial goal.[4]

4. Possibility of Accumulating Debts

The convenience of PondoPeso loan application and its fast approval can be a double-edged sword. Loan applicants can access PondoPeso anytime and anywhere. However, over-reliance on the app may incur financial liabilities in the long run, especially if the borrower doesn’t have the discipline or a sense of obligation.

Final Thoughts

A number of online lending platforms, such as PondoPeso, are certainly helpful for many cash-strapped Filipinos. The options can be overwhelming, which makes choosing a real challenge. If you’re looking for an alternative, make sure that the platform is accredited by the SEC. This should help you get peace of mind.

If you want to broaden your options and go beyond short-term loans, you can check out our website. Moneymax has strong partnerships with some of the country’s leading and most trusted lenders and financial companies. Our platform also makes it easy for you to apply for a loan. This  way, you get to save time, money, and energy.

Personal loan in the Philippines


The Moneymax Editorial Team consists of talented and experienced writers, editors, investors, and subject matter experts on a mission to help Filipinos build healthier financial lives. Browse the Moneymax blog for information and advice on credit cards, loans, insurance, investments, and other personal finance topics. For more financial news and articles, follow Moneymax on LinkedIn.


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