#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, Bacolod City, Alaminos City & Dagupan City, Cabanatuan City & San Jose City, Cagayan De Oro City, Lucena City, Tarlac City, Tacloban City, Naga City, Subic City, Iba City, Olongapo City, Albay City, Dumaguete City, Cauayan City & Santiago city, Tagbilaran City, San Fernando City, Puerto Princesa City, Tuguegarao City, Bacolod City, Baguio City.
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 Disbursed loan amount can be withdrawn via Send Money in the UNO mobile application

Employed Requirements:

1. Valid ID
2. Choose one set below:
   • Payroll Bank Statement (PBS) AND either a Payslip or a Certificate of Employment (COE)
   • Bank Statement (Latest one month) with an average balance of Php10,000
   • Credit Card Statement of Account (SOA) (Latest one month) with a minimum loan/limit/line of Php25,000
   • Latest insurance premium receipts (PruLife, Sunlife of Canada, Allianz PND Life, BDO Life, AXA Philippines, FWD Life, Manulife, BPI-AIA, Insular Life, EastWest Aegeas/Troo, Sunlife Grepa, Coco Life, Etiqa, Generali, Fortune) with an annualized insurance premium of at least Php25,000

Self-employed requirements:

1. Valid ID
2. Either one of the following: DTI Registration, Mayor’s Permit, or Barangay Permit
3. Choose one set below:
   • Either an Income Tax Return (BIR Form 1701) or Audited Financial Statement (AFS) AND a Bank Statement (Latest 1 Month) with an average balance of Php10,000
   • Credit Card Statement of Account (SOA) (Latest 1 Month) with a minimum loan/limit/line of Php25,000
   • Latest Insurance Premium Receipts (PruLife, Sunlife of Canada, Allianz PND Life, BDO Life, AXA Philippines, FWD Life, Manulife, BPI-AIA, Insular Life, EastWest Aegeas/Troo, Sunlife Grepa, Coco Life, Etiqa, Generali, Fortune) with an annualized insurance premium of at least Php25,000

UNO offers loans between PHP 10,000 to PHP 500,000 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.

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*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 fast. 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.

Yes, you may make an advance payments and you can do so by first contacting UNO’s Customer Happiness Team via the in-app messaging inbox feature in the UNO Digital Bank 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 in-app messaging inbox feature in the UNO Digital Bank 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

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