Who Can Take Advantage of Our Services?
Matrix Loan is available exclusively to Filipino citizens. Applicants must be between the ages of 18 and 60, hold a valid government-issued ID, and demonstrate a stable source of income.
Key Loan Features
Loan Amount: ₱5,000 to ₱200,000
Loan Term: 91 to 360 days
APR (Interest Rate): 13.92%
Transaction Fees: None
Service Fee: 3% of the loan amount (₱150 to ₱6,000)
Loan Example
For a ₱10,000 loan with a 91-day repayment period and three installments:
Interest per Installment: ₱10,000 x 13.92% / 365 x 30 = ₱114
Installment Payment: ₱10,000 x 13.92% / 365 x 30 + ₱10,000 / 90 x 30 = ₱3,448
Total Interest: ₱10,000 x 13.92% / 365 x 90 = ₱343
Service Fee: ₱10,000 x 3% = ₱300
Total Repayment Amount: ₱10,000 + ₱343 = ₱10,343
Loan Amount Disbursed: ₱10,000 - ₱300 = ₱9,700 (The service fee is subtracted upfront.)
Important Note
Ensure you carefully review the Disclosure Statement to fully understand the terms before applying.
1. Loan Usage
The monies provided by the Lender are for the Borrower's engagement in activities that are lawful and bona fide. These funds are dedicated exclusively for the personal utility of the Borrower.
2. Language and Governing Law
Under the laws of the Philippines, this Loan Agreement and its Promissory Note are to be interpreted and enforced. Should any disputes arise regarding this Agreement and the Note, including their existence, validity, or discontinuation, such matters will be resolved within the competent Philippine legal venues.
3. Loan Amount Specification
It is hereby agreed by the Lender to provide a loan to the Borrower, and in turn, the Borrower, agrees to receive and make use of said loan from the Lender, with the sum total as determined in the Loan Decision, evidenced by the Promissory Note and noted in the Borrower's Personal Account.
4. Terms of Loan Repayment
The "Terms of Loan" is defined as the duration during which the Borrower is obligated to repay the principal sum of the Loan, inclusive of all accruing interest, charges, and fees as detailed in the Disclosure Statement. This term may extend from a minimum of ninety-one (91) days to a maximum of three hundred and sixty (360) days, contingent upon the tenure sanctioned within the Loan Decision.
5. Prerequisites for the Release of Loan Funds
Funds from the Loan will be disbursed only after the achievement of specific criteria to the Lender's approval: it is necessary for the Borrower to enter their bank account details accurately; the Borrower's photo with an identity document must be uploaded to their Personal account; the Borrower must also confirm and agree to the Loan Decision through SMS confirmation or a direct call.
Once the Loan Application from the Borrower receives approval from the Lender, the Borrower is not permitted to cancel or refuse the Loan proceeds, except in instances where such refusal attracts charges for cancellation, rejection, or early repayment as stipulated by the Lender. It is agreed by the Borrower that the Lender has the authority to decide on the cancellation of the Loan at its discretion.
The Lender disclaims any liability for the issuance of Loan proceeds to incorrect or other bank accounts due to the Borrower's error in entering data. The Lender is also relieved from responsibility for any delays or difficulties in the disbursement of Loan proceeds to third parties following the Borrower's written instructions.
6. Interest
The Borrower assumes responsibility to the Lender for the accrual of interest on the Loan until complete repayment, with said interest being calculated and settled in compliance with the governing clauses of these General Terms and Conditions.
Interest is compounded daily on the Loan until the Maturity Date. The interest rate is individually determined and clearly outlined in Disclosure Statement.
7. Complete Agreement
This Agreement embodies the complete consensus between the Parties, nullifying and replacing any prior commitments, understandings, declarations, guarantees, and agreements, irrespective of being in written or oral form, related to the subject matter herein.
8. Late Payment Penalties and Costs
If there is a delay in payment after the Maturity Date of the disbursed loan amount, the Lender is entitled to enforce, along with the overdue amount, a default penalty of PhP1,000 for first-time borrowers and PhP800 for those returning. Additionally, an interest of 5% of the outstanding amount per day will be applied from the first day of delay up to the thirtieth day, 4% from the thirty-first day until the ninetieth day of delay, and 2% from the ninety-first day of delay until the complete repayment of the loan.
9. Declarations and Commitments
The Borrower hereby affirms and guarantees to the Lender, on an ongoing basis, that:
The responsibilities and obligations, expressed or implied, undertaken by the Borrower under this Loan Agreement and any pertinent documents, are lawful, valid, binding, and enforceable;
The Borrower's entrance into and fulfillment of the terms of this Loan Agreement, as well as any related transactions, do not and will not contravene any applicable laws or regulations or any agreements or instruments that are binding on the Borrower;
No current event of default exists, nor is any expected to arise from the provision of the Loan;
All material information, financial or otherwise, concerning the Borrower and other relevant entities has been fully disclosed to the Lender, ensuring the Lender is well-informed in accordance with this Loan Agreement. This information is true, accurate, and not misleading in any manner as of its provision date;
The Borrower has meticulously reviewed, comprehended, and consented to adhere to the stipulations of the Loan Agreement, Promissory Note, and related documents. The Borrower consents to be bound by these documents, including any modifications, which are accessible on the Lender's website and have been communicated to the Borrower through various channels chosen by the Lender;
The Borrower is fully aware of and acknowledges their obligations towards the timely and complete repayment of the loan as outlined in the Loan Agreement;
The Borrower recognizes that the Lender reserves the right to accept or reject the Loan Application based on legitimate grounds, and that the application and its supplementary documents will be retained by the Lender and not returned;
The Borrower regards their Loan Application as merely a proposal, with the final approval contingent upon the Lender's evaluation and policy. The Borrower willingly acquiesces to the decisions made by the Lender, agreeing not to lodge any grievances or seek legal recourse in these matters;
The Borrower unequivocally acknowledges their indebtedness to the Lender for the sanctioned loan amount, assuming it has been disbursed as agreed.
Furthermore, throughout the Loan Term, the Borrower commits to:
Utilize the loan exclusively for personal needs, such as education, medical emergencies, travel, household expenses, or similar personal expenditures;
Abide by all applicable laws in performing obligations under this Loan Agreement and associated documents;
Acquire and maintain any necessary authorizations, consents, or approvals required to fulfill their obligations under this Loan Agreement and to affirm its legality, validity, enforceability, or admissibility as evidence;
Promptly inform the Lender in writing of any potential or actual default events specified in the Loan Agreement, including any situations that may constitute a default under any other agreements to which the Borrower is a party, along with any remedial actions being undertaken;
Notify the Lender within three calendar days of any changes to their name, date of birth, or residential address;
Inform the Lender of any changes in employment, business, or professional activities, and if self-employed, provide updates on personal financial conditions as periodically requested by the Lender.
10. Incidents of Default
The following circumstances shall be recognized as Incidents of Default:
The Borrower's failure to abide by or execute any stipulations of the Loan Agreement, the Promissory Note, or any ancillary agreements with the Lender;
The Borrower's inability to settle any due principal sums, interests, or costs that are required to be paid to the Lender under the terms of the Loan Agreement;
Any declaration or assurance provided by the Borrower, in relation to the Loan, is discovered to have been inaccurate or misleading at the time it was given, irrespective of the Lender's actual detriment due to such inaccuracies or omissions;
The Borrower's decision to halt or terminate his/her financial activities, declaration of insolvency, incapability to discharge debts as they mature, or engagement in any act of bankruptcy or insolvency;
A final judgment or order for a significant monetary amount, damages, or penalties is imposed on the Borrower by a competent court and remains unsettled, discharged, or fully bonded within ten (10) days following its due date as per the applicable laws;
The Borrower's demise or conviction in a criminal case with a final judgment that entails a penalty of civil interdiction, or falls within the scenarios described in Article 1198 of the Civil Code of the Philippines;
Any significant alteration in the Borrower's financial situation or condition since the loan's approval that, in the Lender's reasonable judgment, negatively impacts the Borrower's capacity to fulfill the Loan Agreement obligations.
Default Consequences
Upon the occurrence of an Incident of Default:
The Lender is entitled to deem the entire Loan amount as immediately payable, demanding the Borrower for swift and complete settlement;
Should the default result from the Borrower's delay in loan repayment, the Late Payment Penalties and Fees shall be enforced;
The Lender reserves all rights to remedies available in the Promissory Note and under the law to secure its claims against the Borrower.
The Borrower consents to forgo any notices or formalities required for the Lender to enforce its rights post-Default. Any non-exercise or delay in exercising such rights, options, or privileges shall not constitute a waiver thereof, except as expressly stated in a written waiver by the Lender.
11. Disclosure of Information
The Borrower explicitly authorizes the Lender to divulge details about the Borrower's transactions or accounts concerning the Loan, alongside information in this Loan Agreement and the Promissory Note, to (i) state authorities; (ii) prospective or actual buyers of the debt; (iii) entities such as auditors, legal advisors, or agencies engaged in collection; (iv) credit bureaus; (v) insurers, agents, or any third-party providers linked to the Lender's services or products, including its parent, branches, subsidiaries, and affiliated firms; or (vi) for marketing or offering various services or products. This disclosure is subject to the Lender's absolute discretion, in line with Philippine laws, without any liability to the Borrower. The Borrower acknowledges and agrees to these practices, waiving any need for further consent.
Following the stipulations of Republic Act No. 9510 and its Implementing Rules and Regulations, which created the Credit Information Corporation (CIC), the Lender must report the Borrower's credit data to the CIC and any updates or corrections thereto. This data will be used by the CIC and other authorized credit reporting bodies to evaluate the Borrower's credit standing.
In the event of the Borrower's inability to meet the loan repayment requirements as specified, beyond the pursuit of debt collection actions as outlined or under Philippine law, the Lender may report such delinquencies to third parties, including collection agencies, for debt retrieval purposes.
The Borrower agrees to allow the Lender, along with its associates, to gather, access, process, and retain personal details as provided in the loan application for the purpose of loan evaluation and approval. This includes collecting information from the Borrower and other sources for credit scoring and sharing with entities for credit analysis, profiling, and updating credit scores. The Borrower's information may also be utilized for promotional purposes by the Lender's partners. The Borrower's rights under the Data Privacy Act of 2012 will be fully upheld by the Lender and its third-party associates handling personal data.
12. Contact Method
This Agreement becomes effective on the date the loan funds are made available to the Borrower as per the Promissory Note and continues until the outlined obligations are met or are no longer required, unless terminated sooner by the Lender or otherwise revised by agreement of the Parties.
If you have any more questions or require our assistance, feel free to reach out:
Registered Name: MATRIX LENDING CORPORATION
Electronic Mail: contact@matrixlendingph.com
Customer Service Number: 9612390871
Office Location: 3RD FLOOR SALCEDO ONE CENTRE 170 SALCEDO ST. LEGASPI VILLAGE SAN LORENZO, Makati, Metro Manila, 1223 Philippines
13. Review
The Lender retains the authority to review the Loan's terms and conditions at its discretion and to enforce its paramount right to call for repayment or cancel the Loan at any moment.
Moreover, the Lender reserves the exclusive right to modify or update the Terms and Conditions outlined in this document at any given time, based on its independent judgement.
