1. Parties and Acceptance
This Loan Agreement (“Agreement”) applies between Credo, as the loan service brand or platform, and the individual borrower who applies for and accepts a Credo loan (“Borrower,” “you,” or “user”).
By submitting an application, reviewing the final loan disclosure, and confirming acceptance through the Credo application channel, you agree to be bound by this Agreement, the User Agreement, the Privacy Policy, and the final loan disclosure shown to you before loan confirmation.
2. Borrower Eligibility
You represent that you are legally capable of entering into this Agreement, that the information submitted during registration and loan application is true and complete, and that you are applying for a loan for lawful personal purposes.
- You must provide valid identity and contact information.
- You must have a valid mobile number and a disbursement or repayment account accepted by Credo.
- You must not use another person’s identity, account, device, or documents without authorization.
3. Loan Offer and Disclosure
All loans are subject to eligibility review and approval. Credo may approve, reject, or adjust a loan offer based on verification results, credit assessment, system rules, legal requirements, and internal risk controls.
Before you accept a loan, Credo will display the material loan terms, which may include:
| Disclosure Item | Description |
|---|---|
| Loan Principal | The amount borrowed and disbursed to the borrower or designated account. |
| Term | The number of days or repayment schedule for the loan. |
| Interest / Fees | Applicable interest, service charges, processing fees, or other charges, if any. |
| Repayment Amount | The total amount payable by the due date or according to the repayment schedule. |
| Due Date | The date on which repayment is required. |
You should only accept the loan if you understand the total repayment amount and can repay on time.
4. Interest, Fees, and Illustrative Calculation
The interest rate, annual percentage rate, applicable fees, and total repayment amount will be displayed before confirmation. The example shown on the Credo website is provided for illustration only and does not guarantee that a borrower will receive the same terms.
Illustrative explanation: if a borrower accepts a loan principal of ₱10,000 for 91 days at a reference APR of 12%, the estimated interest may be calculated as ₱10,000 × 12% × 91 / 365 = ₱299.18, and the estimated total repayment would be ₱10,299.18, subject to the final offer displayed at the time of application.
5. Approval and Disbursement
Submitting an application does not guarantee approval. Once a loan is approved and accepted, funds may be disbursed to the receiving account selected or verified by the borrower, subject to banking or payment channel processing timelines.
6. Repayment Obligations
The borrower must repay the full amount due according to the repayment schedule or due date shown in the final loan disclosure. Repayment may be made through channels supported by Credo.
The borrower remains responsible for ensuring that sufficient funds are available and that repayment is made on time, even if a reminder message is not received.
7. Late Payment and Default
If a borrower fails to repay on time, late charges, default handling, collection activity, or other measures permitted by law and the final disclosure may apply. Credo encourages borrowers to contact support early if repayment difficulties arise.
8. Data Privacy and Verification
Credo may process personal information for account registration, identity verification, credit assessment, fraud prevention, disbursement, repayment processing, customer support, service communication, regulatory compliance, and legal claim management. Personal information will be handled according to the Privacy Policy and applicable data protection requirements.
You authorize Credo to verify the accuracy of your information through lawful internal and external verification methods, including service providers or partners engaged for identity verification, risk assessment, payment processing, or customer communication.
9. Communication and Collection Standards
Credo may send account notices, service alerts, repayment reminders, and other lawful communications through app notification, SMS, email, phone call, Viber, or other channels connected to your account or consent settings.
Collection efforts should remain respectful, lawful, and tied to servicing or collecting your account obligations.
10. Governing Law and Dispute Handling
This Agreement shall be governed by the laws of the Republic of the Philippines, unless otherwise required by applicable law. Any dispute related to a Credo loan should first be raised through the official support channel so that the matter may be reviewed and addressed.
11. Updates to this Agreement
Credo may update this Agreement from time to time to reflect product, legal, or operational changes. The version published on the website or app will serve as the current reference version, unless a different effective process is required by law.
12. Support Information
For questions regarding a loan, repayment, or account status, please use the official Credo in-app customer service channel or any official support contact published within the Credo service.