Is VayLaCo's fast loan service trustworthy? Should you borrow from Valaco?

As online lending platforms become more prevalent, alongside financial advisory companies, online loan apps are also gaining popularity. Many are interested due to their quick procedures and low interest rates. Let's find out if VayLaCo's fast loan service is a scam to find solutions, make decisions regarding borrowing on this app, and address personal financial issues.

Is VayLaCo a scam? Conditions, procedures, and considerations when borrowing
 

1. Overview of VayLaCo's fast loan app

VayLaCo is a rapid personal loan app, where you don't need to pledge important documents such as household registration books, property ownership certificates... It sounds very appealing, but is borrowing money online through the VayLaCo app really reliable as advertised? Is VayLaCo's fast loan service a scam? What is VayLaCo's interest rate? What is the borrowing process like at VayLaCo?

* Advantages of VayLaCo's fast loan app:

- Various cash withdrawal options such as: GCash, MLhuillier, Cebuana, LBC, or your own bank.
- Personal security PIN code.
- Borrow money without documents, no collateral required.

* Drawbacks:

- Only iOS version of the app available, Android users cannot use.
- VayLaCo uses the Philippine Peso (₱, PHP) as its currency.

*Loan Limit at VayLaCo app:

- Loan amount: ₱ 10,000 - ₱ 50,000 (equivalent to 4,311,261.26 - 21,556,306.30 Vietnamese đồng).
- Loan term: 91 - 120 days (installment payment).
- Interest rate: 12% - 20%.

You can also explore the top reputable and best online loan apps here to carry out your loans quickly and conveniently.

Explore more: Top online loan apps

2. Eligibility criteria, borrowing process at VayLaCo?

* Eligibility criteria for borrowing at VayLaCo:

- Requires ID card/CCCD, borrowers aged 18 - 60.
- Must have a bank account.
- Need an iOS smartphone to download the app.
- Must be able to repay debts.

*How to borrow money quickly on the VayLaCo app

Step 1: Download the VayLaCo app to your phone.
Step 2: Register for an account.
Step 3: Send borrowing request.

You need to provide personal information to submit a loan application (Upload images of your ID card/CCCD front and back).

VayLaCo staff will receive your information and proceed with the assessment, providing the result within the same day.

Note: Make sure to carefully read all the important terms in the contract such as interest rates, repayment schedule.

Similar to VayLaCo, Tamo is also a simple online loan app, offering quick disbursements within the day, with positive reviews on various app stores for both Android and iPhone users. If you're unsure whether to apply for a loan through this online lending platform, the article should you borrow money from Tamo, updated by Mytour, will help you decide.

3. Is VayLaCo's fast loan service a scam?

To address concerns about whether VayLaCo is a scam or if its fast loan service is reliable, let's explore user experiences together. Here's a summary of feedback from VayLaCo users on the App Store for iOS devices.

- 'Borrowed 2.3 million, only received 1.3 million and had to repay 2.3 after 5 days', review by user betitcutit, dated 16/02/2023.
- 'Simple and clear interface, easy to use for first-timers. Excellent,' from Pressley_Nadeauo, review dated 02/02/2023.
- 'I used this app to manage my finances after receiving my salary, it's helpful without complicated procedures. Excellent,' from mansfieldgermainew, review dated 16/12/2021.
- 'Received calls from the app's staff to complete paperwork, got approved for disbursement but then rejected,' anonymous review.
- 'Still harassed after repaying debts,' from long1234hd, review dated 26/12/2021.

Based on user reviews of VayLaCo on Google Play, besides the 5-star ratings, there are also numerous negative experiences shared by users.

User reviews of Vaylaco's fast loan app on the App Store

In reality, each individual's perception of a product or service varies. To obtain the most satisfactory answer, one should directly use and experience it. However, caution is advised when it comes to online loan apps, as not all apps are trustworthy.

With insights from Mytour regarding the fast loan app VayLaCo, you've likely drawn conclusions to whether VayLaCo's fast loan service is a scam and whether borrowing from VayLaCo is advisable! Wishing you find a reputable source for loans with low interest rates to meet your personal business, shopping, and investment needs!