Cashalo is widely advertised across the Philippines and has several million users, but it carries a ClearLoan PH Risk Score of 62/100 — below our "recommended" threshold of 65. This review explains exactly why, including the real APR (up to 119%), the contact access permission issue, and safer alternatives for the same loan amounts.
- →Cashalo holds a valid SEC Certificate of Authority — it is legally operating
- →Real APR ranges from 35.98% to 119.43% depending on loan term and amount
- →Risk Score of 62/100: Below ClearLoan PH recommended threshold
- →Main risk flags: High APR, contact list access permission, and customer complaint volume
- →Safer alternatives with comparable limits: Maya GLoan (74/100), CIMB REVI (76/100)
Cashalo at a Glance
| Feature | Details |
|---|---|
| Legal Entity | Oriente Express Techsystems Inc. |
| SEC Registration | Certificate of Authority No. 1150 (Active) |
| BSP Supervision | None (SEC only) |
| ClearLoan PH Risk Score | 62/100 — MODERATE RISK |
| APR Range | 35.98% – 119.43% |
| Max Loan Amount | ₱12,000 (new users); up to ₱40,000 (returning) |
| Min Loan Amount | ₱1,000 |
| Loan Term | 1 – 12 months |
| Payslip Required | No |
| ID Required | Any valid government ID |
| Approval Speed | 1 – 24 hours |
| Disbursement | Bank, GCash, or Maya |
The Real Cost of a Cashalo Loan
Cashalo advertises rates starting at "2.99% per month" — but the effective APR and total cost look very different depending on the term and fees included.
- ⚠₱5,000 for 3 months: Monthly payment ~₱1,867. Total cost ₱5,601. Effective APR: 48.2%
- ⚠₱5,000 for 6 months: Monthly payment ~₱1,058. Total cost ₱6,348. Effective APR: 68.5%
- ⚠₱5,000 for 12 months: Monthly payment ~₱622. Total cost ₱7,464. Effective APR: 119.4%
- ⚠Processing fee of ₱200-₱500 is charged upfront and deducted from loan proceeds
- ⚠Late payment fee: 3% per month of overdue amount, compounding
- ⚠Note: Longer terms look cheaper monthly but are dramatically more expensive total
Why Cashalo Scores 62/100: Risk Flags Explained
Here is exactly what lowers Cashalo's Risk Score below the recommended threshold.
- ⚠Contact List Access: Cashalo requests access to your full contact list. While not currently illegal under RA 9474, this is a known tool for harassment-style collection. SEC has warned lenders about this practice.
- ⚠High APR Ceiling: The 119% APR on 12-month loans is one of the highest among SEC-registered lenders and significantly above the BSP recommended ceiling.
- ⚠Complaint Volume: Cashalo has a moderate complaint history in SEC records regarding collection communication style and fee transparency.
- ⚠Fee Timing: Processing fees are deducted from the loan principal upfront, meaning you receive less than the agreed amount — this must be disclosed before signing but is easy to miss.
- ⚠No BSP Supervision: Unlike bank-backed apps, Cashalo is only SEC-regulated, meaning lighter consumer protection oversight.
ClearLoan PH Verdict: Should You Use Cashalo?
Consider safer alternatives first. Here is the honest assessment.
- ✓Use Cashalo ONLY IF: You have already been rejected by Maya GLoan, GCash GLoan, and CIMB REVI, and you genuinely need a short-term (1-3 month) small loan.
- ✓Avoid Cashalo IF: You are taking a 6-12 month term — the APR becomes extremely expensive compared to alternatives.
- ✓Better alternatives at similar amounts: Maya GLoan (74/100, up to ₱80,000, APR from 36%), GCash GLoan (71/100, up to ₱50,000, APR from 42%).
- ✓If you do use Cashalo: Choose the shortest term possible to minimize total interest paid, and never borrow more than you can repay within 3 months.
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Disclaimer: ClearLoan PH provides financial information for comparison purposes only. We are not a lender, bank, or financial advisor. APR figures, Risk Scores, and SEC registration status are verified at the time of publication but may change. Always verify directly with the lender before applying. Some links on this page may be affiliate links.
