If you're considering taking out a loan with Juanhand, you might be wondering how much you can borrow for your first loan. This guide will provide you with all the essential information, including loan amounts, eligibility requirements, and how to apply for your first loan.
How Much Can You Borrow for Your First Loan?
Juanhand offers flexible loan amounts for first-time borrowers. Generally, you can borrow anywhere between PHP 1,000 and PHP 10,000 for your first loan, depending on several factors such as your credit history and repayment capacity.
- Loan Amount: The first loan typically ranges from PHP 1,000 to PHP 10,000.
- Loan Terms: Juanhand offers repayment terms ranging from 90 days to 180 days, allowing borrowers to choose a period that suits their needs.
- Interest Rates: Interest rates vary based on the loan amount and the repayment period. Be sure to check the Juanhand app or website for the exact rate.
How to Apply for Your First Loan in Juanhand
1. Download the Juanhand App
Begin by downloading the Juanhand app from the Google Play Store or Apple App Store.
2. Sign Up and Complete the Application
Sign up for a new account and complete the application process. You’ll need to provide personal details, such as your name, address, and income information.
3. Check Your Eligibility
Once your application is submitted, Juanhand will assess your eligibility based on the details you’ve provided. You will be notified of the loan amount you qualify for.
4. Receive Your Loan
If approved, the funds will be transferred to your bank account or through other available payout options. You can then use the money as needed.
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FAQ
To qualify for your first loan, you typically need to be a resident of the Philippines, at least 21 years old, and have a stable income source.
Yes! After repaying your first loan, you may be eligible for a larger loan amount in the future. Juanhand may offer higher loan amounts based on your repayment history.
The interest rate varies based on the loan amount and repayment terms. Check the Juanhand app for exact rates. Ensure you understand the interest before agreeing to the loan.
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