#UNOnow Loan is available to applicants who meet ALL of the following criteria:

1. Individuals
2. At least 21 years old; must not be older than 65 years old upon loan maturity
3. Filipino citizen
4. Resides and/or works within Metro Manila, Cebu, Rizal, Cavite, Laguna, Pampanga, Bulacan, Batangas, Iloilo, or Davao Del Sur.
5. Receives a minimum gross monthly income of PHP 20,000
6. If employed, must be tenured for at least 6 months
7. If self-employed, business must be in operations for at least 2 years

No, you don’t need a bank account or credit card from other banks to apply for an #UNOnow loan.

You can apply for an #UNOnow loan by following the steps below:

1. Open the UNO Mobile App
2. Tap JOIN UNO on the login page and select LOAN ACCOUNT
3. Provide a valid PH mobile number and email address and verify the mobile number via One Time Pin (OTP)
4. Capture a valid government issued ID
   
   • Philippines Passport
   • Driver’s License
   • Unified Multi-Purpose ID (UMID)
   • Social Security System (SSS) ID
   • Philsys National ID
   • Professional Regulation Commission (PRC) ID
5. Perform the Selfie Check steps and provide your personal information
6. Review your loan application and submit it for credit evaluation
7. Once submitted, your application will be reviewed and processed.
8. If approved, you will be asked to either accept or decline the loan offer. Once accepted, the loan proceeds will be available for drawdown and an email with the loan contract and details will be sent to you.
9. Disbursed loan amount can be withdrawn via Send Money in the UNO mobile application

UNO offers loans between PHP 10,000 to PHP 200,000 with repayment tenors ranging from 6 to 36 months.

With monthly add-on rates as low as 1.79% (Corresponds to annual contractual rates or annual percentage rates ranging from 35.78% to 37.54%, depending on the loan tenor).

Monthly Add-on Rate is the process of calculating how much interest will ultimately need to be paid on a loan. The principal amount plus interest is divided by the number of months in the duration of the loan term to arrive at the amount of the monthly loan payment.

*Effective Interest Rate (EIR) is based on a loan amount of Php100,000 and processing fee of Php 3,000

To calculate the amount of interest that needs to be paid, the principal loan amount is multiplied to the Add-on-Rate and the loan term in months.

Interest = Principal amount x Monthly add on rate x Term

Then, the monthly payment is determined by the sum of the principal loan amount and interests (using the above formula on interest) and dividing it to the loan term in months.

Monthly Payment = (Principal + Interest) / Loan Term (in months)

Example:

Loan Amount: 100,000
Monthly Installment: 4,567.78
Add-On Rate: 1.79%
No. of Monthly Installment: 36

Where: 

Annual Percentage Rate

=  RATE(Term in Months,-Monthly Installment, Loan Amount, 0,0) x Loan Term in Months /     Term in Years

= RATE(36,-4567.78,100000,0,0) x 36 / 3

=  35.78%

Monthly Installment         

=  -PMT(APR / 12),No. of Monthly Installments, Loan Amount

=  -PMT(35.78%/12),36,100,000

=  4,567.78

A loan amount of PHP 100,000 with tenor of 3 years and an annual contractual rate of 35.78% requires a total repayment of PHP 4,567.78 per month, interest included. The next month’s payment is also PHP 4,567.78, but the amount of principal and interest is different because the outstanding loan amount decreased.

Below are the fees applicable to #UNOnow:

1. Processing Fee – 3% of the loan amount or PHP 500 whichever is higher, to be deducted from the loan proceeds
2. Late Payment Fee – 5% of unpaid installment or PHP 500 whichever is higher
3. Loan Pre-termination Processing Fee – 3% of unbilled amount or PHP 300 whichever is higher (applicable on loans > 30 days; none on loans < 30 days)

Application processing is straight-through which means that you get the result of the credit evaluation immediately. However, should there be a need for other documents and further checks, you can see the status when you enter the UNO Mobile App or you will be notified via SMS.

It is the amount that must be paid on the Due Date based on the Amortization/Payment Schedule provided to you. For the first payment due date, charging of the principal is deferred, so the Amount Due shall only be the Initial Interest or interest accrued from the time the loan proceeds are disbursed until the first due date. This Initial Interest will be collected from you due to the longer period to repay the principal. In case of past due, the Amount Due may consist of all unpaid monthly installments, late payment fees and other applicable charges.

Your monthly installments will be paid via automatic debit arrangement (ADA) from the UNO Savings Account (#UNOready) created for you. All you need to do is to ensure sufficient funding of the #UNOready on or before your due date for UNO to effect the payment.

A late payment fee of PHP 500 or 5% of unpaid installment will be applied to each monthly installment that will not be fully settled upon due date.

You can fund your #UNOready via Add Money option in the UNO mobile application. Your ADA will be automatically activated and your existing balance will be used to pay off your current monthly amortization.

Yes, you may make an advance payments and you can do so by first contacting UNO’s Customer Happiness Team via the Customer Center section of the UNO Mobile App.

Your loan will be recalculated based on the advance payment made and remaining loan tenor may be shortened. 

Yes, you may fully repay your total loan outstanding and you can do so by first contacting UNO’s Customer Happiness Team via the Customer Center section of the UNO Mobile App. Please note that a Pre-termination Processing Fee will be charged as follows: 3% of unbilled amount or minimum PHP 300 whichever is higher. 

Your installment due date will be based on Salary Frequency and Salary Credit Date that you declared during your loan application:

• Salary/Income once a month: 1 to 30/31; installment due date will be set 1 day after salary credit date, but for dates 29, 30 and 31 it will be automatically set to every 2nd day of the month
• Salary/Income twice a month:
  
  • 1st and 16th – installment due date will be set on the 17th
  • 5th and 20th – installment due date will be set on the 21st
  • 10th and 25th – installment due date will be set on the 26th
  • 15th and 30th – installment due date will be set on the 2nd

If the auto debit arrangement (ADA) is successful, your payment will be reflected the next day.

Yes. Please expect to receive the following documents through your registered email address after loan availment:

• Loan Agreement / Terms and Conditions
• Promissory Note
• Disclosure Statement
• Loan Amortization Schedule

To know if you have completed your installment payment, go to your personal loan dashboard and tap the loan account. From the bottom menu, tap on Statement and you will be able to see if your current installment due amount has been fully settled or not. If it has been fully settled, the status will be ‘Successful’.