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Evo Personal Loan

EVO helps you get a personal loan using your mobile phone, even if you don’t have a bank account!

  • icon Interest Rate
    Interest rate (p.a.)
    35.74% - 35.74%
  • icon Min. monthly income
    Loan Tenure
    0.5 - 3 years
  • icon Min. monthly income
    Approval Duration
    20 mins or less
  • icon Min. monthly income
    Min. monthly income
    ₱ 15,000

Loan Calculator

icon New Base Rate Loan Calculator

year(s)
Monthly salary 15000
Interest Rate
You Pay
/mth
Total Interest Payable
Total Amount Payable

Whats so great about Evo Personal Loan?

  • Low income requirement

  • Get approved in 20 mins or less!

  • No bank account required

  • Available to Globe subscribers or users only

Product Features

Approval Duration 1.79% per month
Min. Financing Amount ₱10,000
Max. Financing Amount ₱200,000
Min. Loan Tenure 6 months
Max. Loan Tenure 36 months

Fee & Charges

One time set up
Processing Fee 3% or PHP 500, whichever is higher

Eligibility

Min. salary requirement ₱15,000 monthly
Age requirement 23-65 years old

Other Requirements

Need to open linked bank account? No
Other details Must be Globe subscriber or user

Review by iMoney

Evo Personal Loan is a financial product offered by Evo Finance Corporation, a reputable lending institution in the Philippines. This loan option provides individuals with the opportunity to borrow money for various personal needs and expenses.

The Evo Personal Loan offers flexible loan terms, allowing borrowers to choose a repayment period that suits their financial situation. The loan amount can range from a minimum to a maximum amount, depending on the borrower's eligibility and creditworthiness.

One of the key features of Evo Personal Loan is its quick and convenient application process. Borrowers can apply online and submit their application. The required documents typically include proof of identification, income documents, and other supporting documents as requested by the lender. Another option is to apply directly through the iMoney online application form. Once your application is received, our friendly Customer Care agents will contact you and assist in your application process.

Upon approval, borrowers can expect to receive their loan funds in a timely manner. The funds can be used for various purposes such as debt consolidation, home improvement, education expenses, medical bills, or any other personal financial needs.

It is important for potential borrowers to carefully review the terms and conditions of the Evo Personal Loan before committing to it. This includes understanding the interest rates, repayment terms, fees, and any other applicable charges associated with taking out this type of loan.

Overall, Evo Personal Loan provides individuals with an accessible and convenient borrowing option for meeting their personal financial needs.

Learn more about the features and benefits of Evo Personal Loan:

  • Fast application and approval process that only takes 20 minutes or less.
  • Only 1 valid government-issued ID is required to apply.
  • Submitting proof of income is not required, no collateral needed.
  • Competitive interest rate starting from 1.79% per month.
  • High loanable amount from a minimum of ₱10,000 up to ₱200,000.
  • Loan payment ranges from 6 months up to 26 months.

Here are some frequently asked questions about Evo Personal Loan:

EVO Personal Loan FAQ

How does the Evo Personal Loan work?

Evo Personal Loan is a financial service that provides individuals with the opportunity to borrow money for various personal needs. The process of obtaining a loan through Evo Personal Loan is designed to be simple and convenient.

To begin, interested individuals can visit the Evo Personal Loan website or download their mobile app. From there, they can start the application process by providing necessary personal information such as their name, contact details, employment status, and income details.

Once the application is submitted, it will be reviewed by Evo's team of professionals who will assess the applicant's eligibility for a loan. This assessment includes evaluating factors such as credit history and income stability.

If approved, applicants will receive a loan offer with specific terms and conditions. They can review these details and decide whether to accept or decline the offer. If accepted, the funds will be disbursed directly to the borrower's designated bank account.

Repayment terms are flexible and can be customized based on individual preferences. Borrowers can choose from different repayment options such as monthly installments or bi-weekly payments.

It's important to note that Evo Personal Loan charges interest on borrowed funds. The interest rate may vary depending on factors such as creditworthiness and loan amount.

Overall, Evo Personal Loan offers a streamlined process for individuals in need of financial assistance. By providing necessary information and meeting eligibility criteria, borrowers can access funds quickly and conveniently to meet their personal financial goals.

What are the eligibility criteria for applying for an Evo Personal Loan?

To apply for an Evo Personal Loan in the Philippines, there are certain eligibility criteria that applicants need to meet. These criteria help determine whether an individual is qualified to receive a loan and ensure responsible lending practices. Here are some key factors that are typically considered:

  1. Age: Applicants must be at least 21 years old but not older than 65 years old at the time of application.
  2. Citizenship: Only Filipino citizens with a valid Philippine residence are eligible to apply.
  3. Employment status: Applicants should have a stable source of income, whether as an employee or self-employed individual. Some lenders may require a minimum length of employment or business operation.
  4. Income requirement: Lenders usually set a minimum monthly income threshold that applicants must meet to qualify for a personal loan. This requirement varies among different lenders and may depend on factors such as the loan amount and repayment term.
  5. Credit history: Lenders will assess an applicant's creditworthiness by reviewing their credit history and credit score. A good credit standing increases the chances of approval and may result in more favorable loan terms.
  6. Documentation: Applicants will need to provide necessary documents such as valid identification, proof of income (e.g., payslips, bank statements), and other supporting documents required by the lender.

It's important to note that these eligibility criteria can vary between lenders, so it's advisable for potential borrowers to check directly with Evo Philippines for their specific requirements before applying.

How can I apply for an Evo Personal Loan?

To be eligible for an Evo Personal Loan, you must be a Filipino citizen currently residing  in the Philippines. You must also be between 21 and 65 years old at the time of application. Furthermore, you need to have a stable source of income and meet the minimum monthly income requirement set by Evo.

The application process for an Evo Personal Loan is straightforward and convenient. You can apply online through their website. The online application allows you to fill out the necessary information from anywhere at any time.

When applying for an Evo Personal Loan, make sure to have the following documents ready:

  1. Valid government-issued ID: This includes your passport, driver's license, or any other identification document accepted by Evo.
  2. Proof of income: Provide proof of your stable income such as payslips or bank statements for self-employed individuals.
  3. Proof of residence: Any utility bill under your name showing your current address will suffice.
  4. Employment details: Prepare documents that validate your employment status such as certificate of employment or business permits if self-employed.

Once you have gathered all the required documents, submit them along with your completed application form online. The processing time may vary depending on various factors such as document verification and loan evaluation, however, Evo approximates the entire process from application to approval in less than 20 minutes.

In conclusion, if you are seeking a personal loan in the Philippines with competitive rates and flexible terms, consider applying for an Evo Personal Loan. Familiarize yourself with their eligibility criteria and ensure that you have all necessary documents ready before beginning the application process to expedite it.

What documents are required to apply for an Evo Personal Loan?

To apply for an Evo Personal Loan, you'll need essential documents for the lender to assess your eligibility:

  • A valid government-issued ID (e.g., passport or driver's license) for identity verification.
  • Proof of age to meet minimum age requirements.
  • Income-related documents like recent payslips or employment certificates.
  • For self-employed individuals, business registration papers or audited financial statements.
  • Proof of residence, such as utility bills or official correspondence showing your current address.

Document requirements may vary, so check Evo Philippines' website for a comprehensive list before applying. Having these documents ready ensures a smoother application process.

What is the minimum and maximum loan amount that can be availed through Evo Personal Loan?

Evo Personal Loan offers a range of loan amounts based on creditworthiness and eligibility. Typically, you can avail:

  • Minimum loan amount: ₱10,000, suitable for smaller financial needs.
  • Maximum loan amount: Up to ₱20,000 for more significant expenses.

The final amount depends on individual circumstances and lender approval. Contact Evo Personal Loan or visit their website for precise details on loan amounts and eligibility.

What is the interest rate charged on Evo Personal Loans Philippines?

Interest rates on Evo Personal Loans start from 1.79% per month. These rates vary based on credit history, income, and loan amount. Keep in mind that rates may change due to market conditions. Understanding the interest rate helps you plan for loan repayment and assess affordability, considering other associated fees.

How long does it take to get approval for an Evo Personal Loan?

Evo Personal Loan approvals can take as little as 20 minutes, depending on factors like document accuracy and credit history. Ensure documents are accurate and maintain good credit to expedite approval.

How long does it take to receive the Evo Personal Loan amount once approved?

With Evo, the approval process is quick and hassle-free, ensuring that you get the funds you need when you need them. In most cases, once your loan application has been approved, you can expect to receive the funds in your designated account in just 20 minutes or within the same day.

Evo understands the urgency of your financial needs, which is why they strive to disburse approved loans as quickly as possible. This rapid disbursement time ensures that you can address any immediate expenses or emergencies without delay.

Whether it's for debt consolidation, medical bills, home renovations, or any other personal expenses, Evo Personal Loan provides a convenient solution with a streamlined approval process and fast disbursement time. Rest assured that with Evo's reliable services, you can access the funds you need swiftly and efficiently.

Can self-employed individuals apply for an Evo Personal Loan?

Yes, Evo Personal Loans are tailored for self-employed individuals. Eligibility criteria include being aged 21 to 65, having a minimum monthly income of ₱15,000, and two years in your current business or profession.

Are there any additional fees or charges associated with an Evo Personal Loan?

Evo Personal Loans may include:

  • A loan processing fee, typically 3% of the loan amount or ₱500 (whichever is higher).
  • Late payment fees for missed or delayed payments.

Review terms and conditions carefully to understand all fees before committing to a loan agreement.

Is collateral required to secure an Evo Personal Loan?

No, Evo Personal Loans are unsecured and do not require collateral. They are based on creditworthiness and the ability to repay, offering convenience without risking assets.

Can I use the funds from an Evo Personal Loan for any purpose?

Yes, Evo Personal Loans have no restrictions on the purpose of the loan. You can use the funds for various needs, including emergencies, home improvements, education, or debt consolidation.

What is the repayment period for an Evo Personal Loan?

Evo Personal Loans offer flexible repayment periods ranging from 6 to 26 months. Choose a period that aligns with your financial situation and budget.

Can I prepay or settle my Evo Personal Loan before the end of the term? Are there any penalties or charges involved?

Yes, you can prepay or settle your Evo Personal Loan early, but penalties or charges may apply. Check your loan agreement and contact Evo Personal for specific details on prepayment policies to avoid surprises.

Is the Evo Personal Loan the right product for me?

If you are in need of a fast, hassle-free, and convenient personal loan, look no further than Evo Personal Loan! Evo is a leading financial institution that offers quick and convenient loan services to meet your financial needs. 

The application process for an Evo Personal Loan is straightforward. All you have to do is fill out an online application form with your personal and financial details. Once submitted, Evo's advanced AI technology will assess your application and determine your eligibility for a loan.

Once approved, the funds will be disbursed directly into your nominated bank account. It's important to note that there may be fees associated with processing the loan which will be clearly communicated during the application process.

Additionally, it's worth mentioning that Evo provides flexible repayment options that allow borrowers to choose a repayment term that suits their financial situation best. This flexibility enables borrowers to manage their monthly budget effectively while repaying their loans comfortably.

With competitive interest rates, quick application process, and flexible repayment terms, getting an Evo Personal Loan is a reliable option to consider.