Loan Terms & Conditions
Repayment Term: 91 to 180 days
Loan Amount Range: ₱2,500 to ₱100,000
Annual Percentage Rate (APR): 30.26%
Service Fee: 2% of the loan amount, ranging from ₱50 to ₱2,000
Transaction Fees: None applicable
Before proceeding with your application, please take the time to carefully read and understand all terms and conditions included in the Loan Agreement.
Sample Loan Breakdown
For a loan of ₱30,000 over 180 days, repayable in 3 installments:
Interest per installment: ₱1492
Total interest over the loan term: ₱4,477
Service fee deduction: ₱600 (deducted upfront)
Installment payment amount: ₱11,492 per payment
Total repayment obligation: ₱34,477
Net loan disbursement: ₱29,400 (after service fee deduction)
Applicant Qualification
CashEJ is available solely to Filipino citizens who are between 18 and 60 years old. To qualify, applicants must present a valid government-issued ID and provide evidence of a stable and verifiable income source.
1. Loan Purpose
The Loan issued by the Lender is to be used by the Borrower for legal and legitimate purpose. The loan proceeds shall be used by the Borrower exclusively for personal use.
2. Prerequisites for the Release of Loan Funds
Funds from the Loan will be disbursed only after the achievement of specific criteria to the Lender's approval: it is necessary for the Borrower to enter their bank account details accurately; the Borrower's photo with an identity document must be uploaded to their Personal account; the Borrower must also confirm and agree to the Loan Decision through SMS confirmation or a direct call.
Once the Loan Application from the Borrower receives approval from the Lender, the Borrower is not permitted to cancel or refuse the Loan proceeds, except in instances where such refusal attracts charges for cancellation, rejection, or early repayment as stipulated by the Lender. It is agreed by the Borrower that the Lender has the authority to decide on the cancellation of the Loan at its discretion.
The Lender disclaims any liability for the issuance of Loan proceeds to incorrect or other bank accounts due to the Borrower's error in entering data. The Lender is also relieved from responsibility for any delays or difficulties in the disbursement of Loan proceeds to third parties following the Borrower's written instructions.
3. Loan Amount Specification
It is hereby agreed by the Lender to provide a loan to the Borrower, and in turn, the Borrower, agrees to receive and make use of said loan from the Lender, with the sum total as determined in the Loan Decision, evidenced by the Promissory Note and noted in the Borrower's Personal Account.
4. Loan Term
"Loan Term" refers to the span over which the Borrower is to settle the principal value of the Loan, in addition to the relevant interest, charges, and fees as stated in the Disclosure Statement. This duration is set to range from ninety-one (91) calendar days to a maximum of one hundred and eighty (180) calendar days, subject to the term agreed upon in the Loan Decision.
5. Penalties and Fees for Late Payment
Any failure to pay the loan amount by the due Maturity Date will obligate the Borrower to pay not only the outstanding amount but also a fixed default charge of PhP1,000 for individuals availing for the first time and PhP800 for those who are repeated clients. A daily interest rate of 5% on the overdue amount will be levied from the first day of delay until the thirtieth day, 4% on the unpaid amount from the thirty-first day until the ninetieth day of delay, and a continual rate of 2% from the ninety-first day of delay until the entirety of the Loan is settled.
6. Interest on the Loan
The Borrower is obligated to the Lender for the payment of interest on the Loan until the total amount is discharged, with the interest being computed and remitted in adherence to the regulations specified within these General Terms and Conditions.
Interest on the Loan accrues on a daily basis until the Maturity Date. The interest rate is determined on a case-by-case basis and disclosed in Disclosure Statement.
7. Statements and Commitments
The Borrower makes the following representations and warranties to the Lender, which shall remain in force on a continuous basis:
he commitments made by the Borrower within this Loan Agreement, including all associated documents, are deemed to be legal, valid, enforceable, and in binding agreement upon the Borrower;
The execution and performance of this Loan Agreement by the Borrower, along with all transactions envisaged within, do not and will not lead to any conflict with any laws, regulations binding the Borrower, or any agreements or contracts to which the Borrower is a party;
No ongoing or foreseeable event of default is associated with the provision of this Loan;
The Borrower has provided the Lender with all pertinent information, financial or otherwise, concerning the Borrower and all related parties that is necessary for the Lender to be fully informed under the terms of this Loan Agreement. All such information is truthful, complete, and accurate to the best of the Borrower's knowledge and has not been presented in a misleading manner;
The Borrower has reviewed, comprehends, and agrees to the terms and conditions outlined in the Loan Agreement, and all relevant documents. The Borrower commits to adhere to these documents and any of their amendments, which are made available on the Lender's official website () or communicated by the Lender through chosen communication methods;
The Borrower acknowledges their responsibility for the full, timely, and accurate repayment of the loan as detailed in the Loan Agreement;
The Borrower understands that the Lender retains the right to either accept or deny the Loan Application based on valid grounds. All application documents and supplementary paperwork submitted will be incorporated into the Lender's records and will not be returned to the Borrower.
The Borrower views their Loan Application as merely a proposal, with the final decision resting on the Lender's evaluation and approval processes, in line with the Lender's prevailing policies. The Borrower consents to respect the Lender's decisions and will not pursue any form of complaint or legal action against the Lender on these grounds;
The Borrower unequivocally accepts that they are rightfully indebted to the Lender for the amount of the loan disbursed according to the terms stipulated.
Additionally, throughout the tenure of the Loan, the Borrower undertakes to:
Use the loan solely for personal requirements, including but not limited to educational expenses, medical emergencies, travel, home maintenance, or other personal consumption purposes;
Comply with all applicable legal requirements in relation to the execution of their obligations under this Loan Agreement and associated documents;
Secure and maintain any necessary authorizations, consents, or approvals required to fulfil their obligations under this Loan Agreement and to ensure its enforceability and legal validity;
Promptly inform the Lender in writing of any event that may constitute a default under this Loan Agreement or any other agreement the Borrower is party to, as well as any actions being taken to address such issues;
Notify the Lender within three (3) days of any changes to their personal details such as name, date of birth, or residential address;
Inform the Lender about any changes to their employment, business, or professional activities. If self-employed, the Borrower commits to regularly update the Lender about their financial status as per the Lender's request.
8. Default Determinants
The occurrence of any of these situations will be recognized as Default Determinants:
The Borrower's failure to observe or execute any terms and agreements specified in the Loan Agreement, Promissory Note, or other related documents binding the Borrower and the Lender;
The Borrower's negligence in repaying any owed principal amounts, interests, or charges as mandated by the Loan Agreement with the Lender;
Any declarations or commitments made by the Borrower regarding the Loan are found to be inaccurate or misleading at the point of assertion, regardless of the actual impact or detriment to the Lender;
The Borrower's decision to discontinue or halt his/her economic activities, declaration of insolvency, inability to satisfy debts upon their due dates, or the undertaking of any bankruptcy or insolvency-related actions;
A conclusive legal judgment or decree demanding a considerable amount from the Borrower that is not satisfied, settled, or bonded within ten (10) days from its legal payment deadline;
The Borrower's passing or criminal conviction which results in a final verdict imposing a penalty including civil interdiction, or instances outlined by Article 1198 of the Civil Code of the Philippines;
A material adverse shift in the Borrower's financial health or circumstances since the Loan's sanction, which, in the Lender's reasoned judgment, might negatively influence the Borrower's commitment to the Loan Agreement.
Consequences of Default
In the event of Default:
The Lender is empowered to treat the entire Loan balance as immediately due and require the Borrower for prompt and full settlement;
Should the default arise from the Borrower's lag in payment, Late Payment Penalties and Fees as specified in Article 7 shall be imposed;
The Lender is granted all rights to enforce remedies as outlined in the Promissory Note and under prevailing legal statutes to secure its claims against the Borrower.
The Borrower consents to waive any procedural notices or formalities for the Lender to exercise its rights upon a Default event. The Lender's inaction or delay in exercising any such right or remedy shall not be deemed as a waiver thereof, unless such waiver is explicitly issued in writing by the Lender.
9. Disclosure of Information
The Borrower explicitly gives the Lender the right to share details of the Borrower's transactions or loan account under this Agreement, including the Loan Agreement and the Promissory Note, with the following entities: (i) public regulatory agencies; (ii) any parties considering the acquisition or fulfillment of the Loan's debt obligations; (iii) professional consultants such as auditors and legal advisors, in addition to collection firms; (iv) entities specializing in credit evaluation; (v) insurance providers, intermediaries, or any third-party firms engaged in delivering services or products on behalf of or to the Lender and its affiliated entities, including its parent company, overseas offices, branches, and subsidiaries; or (vi) for the facilitation or marketing of various products and services. This disclosure, determined at the Lender's sole discretion as necessary or appropriate, will adhere to the governing laws of the Philippines, exempting the Lender from any borrower liability. The Borrower acknowledges this consent and confirms that no additional approval is required for such disclosures.
Pursuant to the provisions of Republic Act No. 9510, along with its Implementing Rules and Regulations establishing the Credit Information Corporation (CIC), the Lender is compelled to submit the Borrower's primary credit information and any future amendments or corrections to the CIC. This action is intended for the consolidation and authorized disclosure of such data by the CIC and other CIC-accredited credit reporting bodies to assess the Borrower's credit reliability.
In the event of the Borrower's failure to adequately, correctly, or promptly settle the loan obligations, beyond adopting specified debt recovery actions herein or as outlined by Philippine regulations, the Lender is authorized to report such failures to third-party entities, including but not limited to, agencies tasked with debt collection, to facilitate the recovery of the loaned sum.
By agreeing to this clause, the Borrower permits the Lender and its associates to retrieve, process, utilize, and maintain the Borrower's personal data such as identifying details, demographic information, biometrics, communication channels, employment background, financial status, and other necessary information stated in the loan application for the purpose of appraising and administering the loan request. This consent encompasses the acquisition of personal data directly from the Borrower or from other controlling bodies for credit scoring purposes. Furthermore, the Borrower's personal details will be communicated to credit scoring agencies for credit investigation, scoring, analytics, and profiling, including regular reassessment of the Borrower's credit standing. The obtained personal data may also be leveraged for direct marketing of the Lender's partner services and products. Throughout this data processing phase, the Borrower's privileges under the Data Privacy Act of 2012, including rights to information, objection, access, correction, deletion or blocking, and indemnity, will be honored. All entities to which the Lender disseminates the Borrower's personal information will equally uphold these rights.
10. Contact Us
This Loan Agreement is activated upon the loan's disbursement to the Borrower, following the conditions mentioned in the Promissory Note, and is designed to last until the provisions herein are fulfilled, unless it is terminated in advance by the Lender or adapted by mutual consent of the Parties.
Should you need more information or support, please don't hesitate to reach us at:
Name of Corporation: E.J. OCAMPO LENDING CORPORATION
Email for Inquiry:
Customer Assistance: 9671426512
Main Office Address: 2nd Floor LRE Building Lopez Jaena Street Ormoc City, Leyte, 6541 Philippines
11. Review
The Lender retains the authority to review the Loan's terms and conditions at its discretion and to enforce its paramount right to call for repayment or cancel the Loan at any moment.
Moreover, the Lender reserves the exclusive right to modify or update the Terms and Conditions outlined in this document at any given time, based on its independent judgement.
12. Complete Agreement
This Agreement embodies the complete consensus between the Parties, nullifying and replacing any prior commitments, understandings, declarations, guarantees, and agreements, irrespective of being in written or oral form, related to the subject matter herein.