DIGITAL lender JuanHand is expanding its borrowing options with a new top-up loan feature that allows eligible customers to access additional funds even while having an existing loan.
The new feature allows qualified borrowers to apply for additional funds within their available credit limit, subject to JuanHand's eligibility requirements and applicable loan terms.
“This gives borrowers another option when they need access to additional financial resources, provided that the new loan remains within their available credit limit and applicable eligibility requirements,” the lender said.
Borrowers can apply for loans of up to P50,000 with daily interest rates as low as 0.025 percent.
The platform also offers selected repayment periods intended to give borrowers options that fit their individual financial circumstances.
JuanHand said borrowers would only need a registered mobile number and a valid identification card. Approval can be done in as fast as five minutes, it added.
JuanHand, which is operated by WeFund Lending Corp., said that it had extended over P1.16 trillion in loans to more that 20 million clients to date.