RCBC and GCash Team Up to Offer Collateral-Free Loans

Manila - RCBC has teamed with GCash to launch Pasado lending, a collateral-free lending option for Filipinos. This alliance intends to streamline the borrowing process by leveraging digital platforms and cutting-edge credit assessment technologies.

Pasado Loan has a cutting-edge decision engine that assesses an applicant's credit profile in real-time, resulting in speedy results. Borrowers get approved loan amounts ranging from ₱30,000 to ₱500,000 immediately to their RCBC DiskarTech accounts. Payments can be made automatically through an auto-debit agreement with DiskarTech for added convenience. The loans are repayable over 6 or 12 months, with monthly interest rates ranging from 1.58% to 2.83%, or 19% to 34% annually.

Expanding Financial Inclusion

Tony Isidro, CEO of GCash's lending arm Fuse, expressed excitement about the collaboration. “By collaborating with RCBC, we are not only making loans more accessible; we are also creating chances for countless Filipinos. We're working together to create a more inclusive future for everyone”, he stated.

Pasado Loan is now available through the GCash app, expanding the fintech's portfolio of financial services. These include GLoan, which offers up to ₱125,000, GGives for zero-interest installment purchases, GCredit, offering up to ₱30,000 for bill payments, and GLoan Sakto, which enabling low-income customers to borrow ₱100 or ₱300 with no interest for return within 14 days.

Final Thoughts

The collaboration between RCBC and GCash demonstrates fintech's transformational potential for closing financial disparities. Filipinos can now fulfill their financial demands and embrace new chances for growth thanks to easily available, collateral-free loans.