I’m very thankful that I stumbled upon UnionBank EasyCash. My family was needing money and we were ready to take out some loan. The problem was that there were so many requirements before our loan gets approved and one of the things that the bank needed us to do was open a checking account. Then, I remembered that my Citi Simplicity+ credit card was replaced by a UnionBank Visa Platinum Card. It was sent to me by mail just recently and I was given an Php 84,000.00 credit limit. I was thinking that I could maybe get a credit card cash advance. I registered my UnionBank credit card on the app and I saw this EasyCash service. I clicked the link and I was lead to this page, where you can input the amount you need and below it shows how much you are going to pay depending on the terms that you choose.
I decided to request Php 50,000.00 with a 24-month term because the monthly amortization of Php 2,328.33 is within my budget. I could have chosen 48 months or 60 months so that the monthly amortizations would be lower, but then, that would also mean that it would take me a longer time to settle my obligation and the total interest that I would have to pay would also increase. Below are the payment plans that you can choose.
To calculate the monthly payment, the total interest is found by multiplying the loan amount by the monthly interest rate and the number of months. This interest is added to the loan amount, and the sum is then divided by the total number of months. See computations below:
After selecting your preferred payment plan, you will need to enter the details of the bank account (which must be in your name) where the proceeds will be transferred. After that, you just have to confirm the EasyCash details and then you're done. You will receive a text which says that your request for EasyCash is being processed and expect an update in your inbox within 24 hours.
I'm not sure if this is the same for everyone, but in my experience, the proceeds was credited to my account within the same day. I submitted my application at 2:54PM and it was credited to my bank account at 4:36 PM. By the way, there was a processing fee of Php 900.00 but it was not deducted from the proceeds. Instead, it was charged to my credit card. In my second EasyCash request, I applied for Php 20,000.00. I thought that the processing fee would be lower compared to my first application of Php 50,000.00. But the processing fee was still Php 900.00, so I'm guessing it's a fixed amount regardless of the loan size. Also, during the second time, I submitted my loan application at 5:33PM and the proceeds was credited on the next day.
If you need to borrow money quickly, UnionBank's EasyCash is a great option. It's a hassle-free process that doesn't require any additional documents to support your application. All you need is the UnionBank app — simply follow the on-screen instructions, and you could have the funds in your account within a few hours, or by the next day at the latest. It also has a lower interest compared to other banks, as far as I know. The only drawback might be the processing fee, but overall, I had a very nice experience with UnionBank EasyCash.
If you have any questions, feel free to ask and I will surely answer them!
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