Customer Review on Moola Lending

Online cash loans are popular these days. This type of facility offers convenience and ease in application – something traditional banks cannot offer (yet). Can you imagine this: applying for a loan without leaving the comfort of your own home?

One of the popular online cash lenders these days is Moola Lending. It is a Philippine-based financial technology company under Doctor Cash, which has several fin-tech companies in Asia. The company promises rapid processing of loan application, simple application procedure, and transparency in dealing with borrowers.

The question now is this: Does Moola Lending live up to its promise? Here’s what customers have to say about it:

On Applying for a Loan 

The borrowers interviewed said the same thing: applying for a loan was easy and convenient. Application and submission of loan form is coursed online. Simply go to their website to apply for a loan and you will get an answer as soon as possible. Some borrowers were able to get an approval on the same day while there are others who were contacted by Moola representatives a day or two after the loan application was submitted.

Repeat loan is also possible. One borrower shared that she was able to borrow four times from Moola and her experience was good. She was also able to get a higher amount because she was a repeat customer.

Though you have to be cautious in disclosing your employment. One borrower, Richard, initially chose “Freelance” and was rejected.

On Receiving the Cash Borrowed

Moola borrowers had different experiences in receiving the cash they borrowed. One borrower, Steph, said that she received the amount the day after she was informed that her loan was approved and the money was credited to her account.

On the other hand, most of the borrowers interviewed said that it took days before they received the amount. Even if the Moola Customer Support informed that the amount was already credited in the indicated bank account during your application, you have to wait for at least a day and send a follow-up to make sure that your loan was processed.

On Interest and Other Charges

All borrowers interviewed said the same thing about interest: it’s too high. Some borrowers also said that Moola has one of the highest interest rates compared to the other online cash loan providers they tried. Take the case of Jocelyn, another borrower. She applied for a P5,000.00 loan for 30 days, the interest she paid was P1,500.00.

Moola also charge 10 percent Handling Fee, which is automatically deducted in your loan amount. Lina, one of the borrowers interviewed mentioned that despite the P3,000 loan, only P2,700.00 was credited to her account. This means when you borrow P5,000 from Moola, deduct the 10 percent of it and that is the amount you will see in your account.

On Loan Repayment

Payment of loan is through over-the-counter payment at partner branches and DragonPay via 7/11, LBC, Cebuana, SM Department Store, SM supermarkets, or Robinson’s Payment Center. DragonPay was the method used by all of the borrowers’ interviewed in paying for the loan, which requires a specific reference number per client for easier tracking.

Because of the Handling Fee and high interest rate, the borrowers are expected to pay higher amount compared to the actual amount borrowed. In the case of Lina, she will pay a total of P3,630.00 even if her loan was only P3,000 and P2,700 was credited to her account.

Another issue raised by several borrowers was the term. Even if you chose 30 days as your loan term, which is also the maximum term, theirs was only for 21 days. When Jay, also another Moola borrower, asked about the changes in the loan term, he was informed by the customer support that the system automatically calculates the term of the loan.

On Customer Service 

When it comes to customer service, the borrowers are divided. There are borrowers who praised Moola Customer Support because of their fast response, both through their Facebook page and e-mail. On the other hand, there were customers who received no reply from their customer support, especially when raising concerns about their loan application.

Overall, not all borrowers had a pleasant experience borrowing from Moola Lending. Even if their loan application was approved faster compared to other online cash loans lenders, it took days before they were able to withdraw the money from their account. The 21 days loan term instead of 30 days that was initially applied for, payment of 10 percent handling fee, and high interest rate are also big issues, which is why most borrowers don’t recommend Moola.

Have you tried Moola? Please comment to post your experience here!

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55 thoughts on “Customer Review on Moola Lending

    1. Hi Mylene,

      Moola does not offer 1 year loans. Maximum you can borrow is 30 days and the interest will be 30%.

      For more details please contact them directly.

  1. Hi. Somebody called me today but unfortunately I wasn’t able to answer the call because I was inside a government premises that using cellphone is prohibited.. I texted the number but it didn’t called me again even I explained the situation.. I want to know the status of my loan if approved or not.. Thanks and more power

    1. Hi! As much as we want to help, we are not Moola and have no way of checking the status of your loan application. You can try calling them in their hotline – 405-5171. Thanks!

    1. Hi Kelly, yes Moola Lending has a high interest rate. That’s why it’s very important that you assess if you can afford the repayments before you apply for a loan.
      Check out the other services we reviewed here – some have substantially lower rates. For example Tala.

  2. My name is rosalyn, im really upset wth moola,nag loan na aq once at nkbyad naman ako, nung pangalawa nag dcyd aq mg repeat loan kaso ung nkalagay fil’in the number u used b4, panu aq mg fill’in nanakaw yung phne na gmt ko b4’so i dcyded na mg fil’up nlang aq as new client..kaso ni reject nla ung aplction ko..sa anung reason?kala ko ba you value your costumer, kung hndi lng emergcy d naman aq mangungutang sa inyo.

    1. Hello Rosalyn. We’re sorry to hear about your negative experience with Moola. Perhaps, the “new client” is the reason why your loan application was rejected. We’re not also sure as to Moola’s requirements and criteria since we are not affiliated with them. Nonetheless, you can try other online cash lenders in case you are in need of cash. Thanks!

  3. Hai Moola ,
    Im Jozellyn Aguilar Edejer,
    Im apply for persobal loan ..but until now i have no ..update or confirming if i qualified to may loan plss ..kindly reply ….for may concerned .thank you.

    1. Hello Jozelyn. Online cash lenders promise 24-hour loan processing, but with tons of applications they receive, there is a possibility na it will go beyond 24 hours. Don’t worry. You will get your reply soon 🙂

  4. Mrng po..na approve na ang loan ko last friday at na deposit na sa account ko cebuana lhullier..ang confirmation daw e send nila sa email address ko [email protected] di ko na ma open ang email ko…pls help po…pwd e transfer na lng sa [email protected]..para makuha ko ang confirmation ng cebuana lhullier…akala ko kasi facebook at email pareho lng.pls help me po..tnx

    1. Hello Marissa! We want to help you on this, but we are not Tala Philippines; hence no access to your records. Have you tried emailing Tala or sending them a message on Facebook?

    1. Hi Daisy. According to the customers interviewed, the money will be credited to the bank account you indicated in the application form.

          1. Hello! if the borrower is your wife, then yes, you can use her bank account. Otherwise, different borrower and bank account depositor won’t be allowed by Moola.

        1. Hi Yoko! Moola only allows bank deposit to remit the approved loan amount. The bank account must have the same name with the borrower. Without any bank account, Moola won’t be able to extend credit.

    1. Hello Wisdom. Online cash lenders like Moola give priority to repeat borrowers and at times, allow you to borrow higher amount. There is a possibility that you can borrow as much as P20,000, although there is no guarantee for approval.

    1. Hello there. We’re not sure if cancelling loan application will be allowed by Moola. Nonetheless, you can call them at 405-5171 or send them an email at [email protected] so they could look into your account. Thanks!

    1. Hi Emmylou. Sorry, but Moola credits the money borrowed on the bank account you indicated. We’re not sure if they will allow Gcash for encashment 🙂

    1. Hi there Christy. You can pay through LBC, Cebuana, DragonPay, SM and Robinson’s payment centers. Please take note of the reference number since you will use this to pay for the loan 🙂

    1. Hello Joey. Moola credits the loan on your assigned bank account. Please check with your bank if an amount was already credited to your account so you could withdraw it. Thanks!

  5. Hi moola this is my 3rd loan i really want to apply for a 5k loan cause i needed it seriously besides my payment doesnt log i always pay my loan inadvance…pls.reconsider.thank you

    1. Hello Jocelyn. As much as we want to help, we are not Moola but just an independent website that shares about the different online cash lenders in the Philippines. You may contact them directly so they can address you properly regarding this matter. Thanks!

  6. HIGH IMPORTANCE: not recommended to apply for loan, super high interest. And even if hindi mo pa narereceive yung payout, you can not recall the application. No cancellation in short. You have to pay the interest and the principal at all means else papatayin ka sa inis ng kakatawag ng mga agents nila to all your relatives, office and messenger. I applied and got approved at 10K loan, but since they have 10% service fee, 9K nlng yung suposedly n payout cash ko, I applied Jan 25 and got the email notification that my loan was credited to Cebuana OTC payout, Jan 26 – i told them im canceling n the application, tofay, Feb 8 – someone called from Moolalend informing me na no cancellation na and I still need to pay 12,000 until Feb 15. so rude! else more interest is to add up and will have a record of delinquent payment

    1. Hello Daisy. Thank you for sharing your experience with Moola. This will help other borrowers in choosing the right online cash lender for their needs. Nonetheless, we are sorry to hear about this negative experience with them. Rest assured that there are other online cash lenders who are “less stressful” than Moola.

  7. hello may concern ako.. ako si Omar Jaamil.. may pending loan po ako ngayon amounting P5900..kaso ang problema q ngayon yung simcard na ginagamit ko pang register sa moola ay nawala,. dun kasi tumatawag ang moola everytime malapit na and due ko.. repeat loaner po ako..gusto q sana mag extend ng 30 days willing ako magbayad ng extension fee kaso ndi sinasagot ng moola ang email ko..
    May reference ako para mabayad yung full amount kaso hindi pa kaya sa bulsa bayaran ng full.. wala akong reference number para pambayad sa extension 30 days kasi hindi sila nag rereply sa email at kahit sa fb page.. nakaka disappointed,kung magkaproblema man in the future kasalan din nila kasi pabaya sila sa customer nila.

    1. Hi Omar. Have you tried calling Moola thru their hotline (405-5171)? As much as we want to help you on this matter, we are not Moola and not affiliated with them.

  8. Moola charges 10% when you loan from them. And then you’ll pay the loan amount+30% interest (1%/day) after 30 days. You may apply for extension but you need to pay the interest first. However, they will add 18% penalty charge to the principal loan.

    Example:
    Principal Loan: 4,000.00
    Service Charge: 400.00
    Actual Loan Received: 3,600.00
    Amount to be paid: 5,200

    If extending the loan payment:
    Payment to Extend Loan: 1,200.00
    Amount to be Paid: 5,200+700 (penalty charge)=5,900.00

  9. good afternoon,follow up ko po yung appilication ni rosalie panique tibajares ,wala po kasi kming natanggap na tawag kung approve na ba yung loan.Noong saturday pa po ako nagsend ng loan for application.thanks po

    1. Hi Rosalie. Thank you for applying with Moola. As much as we want to help, we are not Moola Lending, rather an independent blog that focuses on online cash loans. That being said, we request for your patience regarding your loan application. Surely, Moola receives tons of application everyday and don’t worry. They’ll get back to you as soon as possible 🙂

  10. Moola Lending should be investigated, I applied for a loan, cancelled it a few minutes after the application (through [email protected]) upon realizing that the interest is too huge and the loanable amount is too small. The loan was made Dec. 27, 2017 but they texted me that the money was already available at cebuana on January 06, 2018. I already sent them message to cancel the loan application and they replied that they will look into it but to my surprise they still push through it and they keep annoying me, calling and forcing me to get the money from cebuana..and now asking me to pay the money I never owed them. How in the world cancellation of loan application is not allowed? Again! cancellation was made few minutes after the application on Dec. 27, 2017 but the money was sent after 10 days! What’s this? force loan?

    1. Hi Luna. We’re sorry to hear about this situation. Nonetheless, thank you as well for sharing your experience to “warn” other borrowers to be more careful in choosing an online cash lender.

    1. Hi Irene! Moola can only allow up to P20K loan amount, which is only accessible for repeat borrowers. If loan restructure, it will have to depend on the amount and the eligibility of the borrower, which only Moola can answer. Nonetheless, you can still try applying for the loan and indicate loan restructure as purpose.

  11. Ito ang text n receive ko nung makaloan ako:
    *Your approved loan has been succesfully deposited to your bank account. Check your e-mail for the payout confirmation and repayment instructions. Repeat Borrowers in good payment standing are automatically approved. To fully repay the loan please pay 3900 PHP on or before 07-03-2018. Or pay 900 PHP to continue using for another 30 days. Pay at 7Eleven (Select Dragon Loans) or any SM or Robinson’s Payment Center or Bayad Center (Write Dragon Pay) and use Reference Number DR235066.

    Nagbayad ako ng 900 n muna for using another 30days dahil Ito ung unawa ko sa text, binayaran ko ung interest, kinabukasan nakatanggap ako ng text na ganito:
    *Thank you for your payment. You can now continue to use the loan until 07-04-2018. To fully repay the loan, please pay 4570.00 PHP. Pay at 7Eleven (Select Dragon Loans) or any SM or Robinson’s Payment Center or Bayad Center (Write Dragon Pay) and use Reference Number DR235066

    TINAWAGAN AKO MISMO ARAW NG DUE DATE AT SINABI KO N 900 Muna ung pay ko, bakit di explain sakin n ganito n kalaki babayaran kahit magbayad man ako ng interest!!! Or dun plng sana sa text ay Meron din nilagay n dagdag Bayad kahit magbayad ng interest.

    1. Hi Michelle. We’re apologize for this inconvenience. Perhaps there was a misunderstanding on the wording of the text, but from how we see it, P900 will be on top of the originally approved amount of P3,900. Nonetheless, thank you for sharing your experience with Moola. This will also help other borrowers in deciding where to borrow money.

    1. Hello Tina! We’re not sure if calling on guarantors is part of the procedure employed by Moola. Based on customers’ experience, they didn’t say that Moola will call guarantors while the loan is on process.

  12. Thank God i have this.. i applied to moola and sky high interest rates, hidden fees and late fee. Kasalanan ko nmn malate . Pero 3 different amounts for a month. That is ridiculous. It is funny in a way. My loan amount is only 2000 i got the money 1700 with the fees and all. After a month plus 700 on top of the amt. Plus 600 for the late fee plus 30 % fees. Customer service is unreachable as well. The phone # on the email, text and messenger for the collections or their company is not working. I am always put on hold or leave a message after the tone.

    1. Hi Charlie. We’re sorry to hear about this experience with Moola. Nonetheless, thank you for sharing your feedback to help other customers to be more careful in choosing an online cash lender.

  13. Hi,paano kung mag hiram ako ng 5k and babayaran ko cya in 2 payments per month paano ang calculation nun po thanks..

    1. Hi Ghen! Moola only allows one-time payment. You can check their website for online calculator to give you an idea on how much you’ll pay for a specific amount and term. Thanks! Here’s the link – https://moola.ph/en

  14. Ask lang po kung legal po ba ang moolah? Hindi na kasi makatao ang ginagawa nila. sobrang taas. Up to now di pa nakakabayad though gusto ko na din matapos kaya lang nawala na yung cp ko na ginagamit sa kanila and I am requesting sa kanila kung magkano na yung utang ko and also yung computation nila pero di ako binibigyan. Ive tried already so many times through email and landline until last call ko sa kanila puro ring lang phone wala sumasagot. baka kasi mabigla ako sobra laki na ng babayaran ko. wala pa naman sa ayos sila magpatubo. yung 2k ko in less than 1 month umabot na sa 5k ang singil nila sa akin.

    1. Hi Randy! First things first, we want to clarify that we are not Moola. Unfortunately, we read several negative feedback about them, which is why we have this blog. We want to be able to inform people regarding various online cash lenders, including feedback and reviews from previous customers. We hope that you can settle your concern with them anytime soon.

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