ElephantLoan

Elephant Loan is an online financial services platform regulated by the Philippine Central Bank. Elephant Loan values user experience and protects user privacy. Elephant Loan provides a free credit score test function to help you quickly obtain a loan (the loan amount varies from person to person, please refer to the audit results whether you can be approved).

**Benefits and Risks**
1- Download the Elephant Loan app via the APP Store.
2- Register an account using your mobile phone number.
3- Fill in personal information for the credit score test function.
4- When a user applies for a loan, the platform will display the periodic interest rate based on the user’s credit.
5- Once approved, the loan will be credited to the user’s personal account.
6- Repayment within the loan period can improve the user's credit rating.
Elephant Loan encourages users to apply for a loan again for a higher loan amount and build a good credit rating

**The following requirements must be met to use Elephant Loan**
1. Good credit record: Elephant Loan will verify the user's credit record to assess the user's payment ability and credit risk. Having a good credit record, such as on-time repayment, no default record, etc., can increase the user's chances of applying for a loan.
2. Stable source of income: It is necessary to be able to prove that the user has a stable source of income and the ability to repay the loan on time. Income can come from wages, self-employment, investments, etc. Having a stable employment situation or a long-term contract can play a positive role in obtaining a loan.
3. Repayment ability: Elephant Loan will evaluate the user's debt affordability to ensure that the user has enough income to repay the loan on time. Common assessment metrics include debt sustainability. Here are some conditions and considerations for getting a loan.

Elephant Loan loan features:
Loan amount range: The minimum loan amount is 2,000 pesos and the maximum loan amount is 60,000 pesos
Loan time range: 91~365 days
The maximum annual interest rate shall not exceed 18%/year, and the intraday interest rate shall not exceed 0.05%/day.
(The specific interest rate is related to the user's own credit)
Handling fee: No other hidden fees
All loan products on the Elephant Loan platform only charge interest fees, and the fees are clear and clear.

Use the following examples to calculate loan-related fees:
The loan amount is 10,000 pesos. After approval, the principal amount will be 10,000 pesos. The loan period is 120 days (4 months). The annual interest rate of this loan is 18%/year (the daily interest rate is 0.05%/day). There is no other Additional fees, then after 120 days expires, the user’s total repayment amount = 10,000+600=10,600 pesos.

You can refer to the following formula to calculate relevant costs:
Monthly interest: 10,000x0.05%x30=150 pesos
Monthly repayment: 10,000/4+150=2,650 pesos
Total interest expense: 150x4=600 pesos
Total repayment amount: 10,000+600=10,600 pesos
(If you want to borrow more money, you can calculate the corresponding loan fees through the above method. All loan products will not charge other additional fees)

Applicable Elephant Loan Platform Terms and Conditions
1. Filipino citizens with certificates
2. Over 20 years old
3. Have a job and a stable source of income.
If the user meets the above conditions. You can apply for a loan using our loan service.

If you have any questions, please contact our online consultants:
Working hours: 9:00 am – 18:00 pm (Monday to Friday)
Customer service email: fastcoinlending@outlook.com
Address: 8th FLOOR CO BAN KIAT BUILDING Il, 231 JUAN LUNA STREET. BINONDO, MANILA 1006