To get a loan application approved, there are generally a few things to consider and be aware so that you are considered as a prospect by loan providers.
Nowadays, applying for online loans has become popular in most parts of the world, including Cambodia, as it’s simpler and quicker than traditional bank loans, which require you to go through many complex processes at financial institutions and demand information from a credit bureau over the course of a year—your loan application is likely to be rejected if your credit score is low.
Through Cashwagon Cambodia, a leading financial technology service provider funded by LendTech Cambodia Co., Ltd., you can get your online loan applications approved quickly by meeting these basic and specific requirements below:
1. Meet the minimum criteria
To submit a loan application, you need to:
- Be a least 19 years old and below 60 years old
- Have a residential address in Cambodia
- Hold a valid ID card or Passport
- Monthly income shall be equal to or more than USD 100
- Verify such information supplied by our customer service
2. Apply for the right amount
As our loans offered are personal loans which are meant to settle your matters in the short term, we can only provide loans with limited amount. You can use our online loan calculator to see how much your monthly payments will be, depending on the principal amount you take out, the interest rate we agree upon, and on the number of days you think you will need to pay back the loan.
Follow the steps in our loan application to calculate the loan amount and find out repayments for different terms and interest rates on loans. Alternatively, you can call us at 016 962 512 and our customer service team will talk to you about options and help you apply for an online loan.
3. Respect our loan agreement
Before you get to apply for a loan, you are asked to read our terms and conditions specified in the loan agreement here. If you agree with all the sections stated, for example legal use of loans, repayment’s requirements, service fees, and indemnity, you may proceed to fill in your personal information and obtain your loan immediately within 30 minutes.