Which is better, GCash (GLoan) or Billease?

The GCash app has 3 types of money lending services: GLoan, Ggives, and GCredit. Each service has a different purpose, such as payment for goods and services or encashment. Ggives and GLoan are financed and operated by Fuse Lending Inc., while GCredit is financed and operated by CIMB Bank Philippines Inc. Both companies compete within the GCash app to provide financial support to Filipinos. In this article, we will compare the best lending companies that offer low interest rates and installment plans. Read the entire article to learn which lending app is best for you in case of an emergency. We will compare the features of Billease and GCash Borrow to determine which is the best lending app. In this case, let’s compare only the loan offered by Fuse in Gcash to the Billease App.

List of Contents
I. How much can you borrow from Gcash GLoans and BillEase at first?
II. Interest and Other Deductions in Billease and GLoan (Gcash)
III. Longest Loan Terms and Installments

Billease is a flagship lending app of the First Digital Finance Corporation (FDFC) with SEC registration number CS201516347. For almost 2 years of using this online lending app, I have never yet received any harassment from them because I am a good payer and I also value the trust they have given. Feel comfortable using this app as it functions like a virtual credit card.

"BillEase will enable customers with no bank accounts or credit card to book domestic and international flights on monthly installments and repay them over a period of three, six, or 12 months." - PHILSTAR

How much can you borrow from Gcash GLoans and BillEase at first?

Gcash GLoan activation may depend on your GScore, which is used to evaluate your profile for qualification. If the Government-ID you used in Gcash is one of the Primary IDs such as SSS ID, UMID, PRC, etc., they will give you from 2,000 - 10,000 Pesos for your first loan. On the other hand, if you have used Secondary IDs, even if you are a good user of Gcash, they will give you 1,000 - 2,000 Pesos for your first loan. Now you know that they are not just looking at the GScore; they assess your profile in many ways, including how your money flows in Gcash and checking your credit score in CIC (Credit Information Corporation). The ID you used is also important, as well as your previous transactions with other parties. Billease also assists their clients in the same way Gcash does. In Billease, they will give you from 1,000 - 7,000 based on your CIC records, IDs, documents submitted and your profile.

Photo | Example of Gcash GLoan and Billease disbursement details. 

Interest and Other Deductions in Billease and GLoan (Gcash)

The sample photo above shows how much you need to pay off your dues for both Billease and GLoan. In GLoan, a 3% processing fee is deducted from your approved amount. For example, if you have a loan of 2,000 pesos, the amount disbursed to your Gcash account will be only 1,940 pesos. However, in Billease, the 3% processing fee is added to your interest, which means they will disburse the exact amount you have borrowed from them. Processing fees in Billease and Gcash are both at one time payment. For instance, if you have an approved loan of 3000 Pesos, you will receive 3000 Pesos in your registered bank or e-wallet. 

Both have the same percentage for processing, but there is a difference between them. In Gcash, a 6% interest fee is added to your approved loans, but in Billease, they only add a 3.49% interest fee to your approved loan. This is a significant difference between the two. Although Billease adds a fixed bank transfer fee of 5.60 Pesos to any loan amount, this is just a small piece of the transfer fee. Think before you accept the offer.

Longest Loan Terms and Installments

To make it easier and quicker for you to pay off your loan in Billease, they give you an option to choose between 15 days per installment or monthly installments. They offer loan terms ranging from 2 months to 24 months. If you are a new member of Billease, you have an option for 2-month and 3-month loan term until you activate the longest term of up to 24 months. In contrast, GLoan only offers a 5-month loan term if you are a first-time borrower and only one option for installments, which is monthly.

I hope the above information on both Billease and Gcash Borrow features will guide you in deciding to take your next loan. Let’s build a positive credit score every time we borrow money. If you want to ask for additional information, just let me know using the comment section below.