FAQs
FAQs about MVL
Market Vendor Loan (MVL) refers to cash loans extended to stall holders and business enterprises engaged in retail and or wholesale trading that are established or located in public market areas or private commercial establishments.
The loan applicant must not be younger than 18 years old and not older than 75 years old at the time of application and owns a stall or store for not less than a year on the day of application.
The minimum required documents are as follows:
a. Credit Line Verification Form
b. One (1) copy of Primary ID or Two (2) copies of Secondary ID
You may fill out and submit a Credit Line Verification (CLV) Form at the nearest QCredit branch. You will be assisted warmly by our branch personnel.
Monthly interest rates ranges from 5.75% up to 8% depending on the loan term.
A service fee of 3% of the approved loan amount will be deducted. Moreover a documentary stamp fee of Php 1.50 for every Php 200.00 of (loan amount multiply by the number of days term and divided by into 365 days).
Mobile number registration is required for e-Cash service subscription. This service is a virtual electronic wallet where your loan proceeds will be initially transferred before encashment. The e-Cash is funded by the so called LoadPlus- an electronic load protected by a PIN and convertible to cash upon encashment to any QCredit branches nationwide.
For more inquiries, you may call us at (02) 5310-2796 or email us at wecare@qcreditcorp.net. Click on the message button above this page to leave your message.
You may encash your approved loan just right after you have received the SMS notification confirming the approval of your loan.
Loan proceeds is given in cash upon encashment at QCredit branch where you applied for a loan or will be automatically deposited to your BDO Cash Card account.
Loan proceeds will be transferred to your e-Cash account immediately after the approval of your loan request. In case you cannot come to the office on the day of release, you may request the branch where you applied the loan to release the proceeds via Field Release, or you can come at the branch at any day of your convenience.
Loan repayment is on daily basis from Monday to Saturday. Repayment starts the next day after your loan was approved.
It will be your discretion whether to make repayment in any of our QCredit branch offices near you or through a field collector who will visit your residential and business locations daily except on Sundays.
You will be notified through your registered mobile number. A series of system-generated SMS notification will be sent to you as soon as your loan is approved.
We encourage you to pay your amortization daily. Any late repayment will affect your performance which is our basis for your future credit limit increase or loan renewal. We advise paying your outstanding balance on or before the maturity date.
If you are borrower with good standing, we make it easy for you to re-avail our Market Vendor Loan. There will be no need to apply again. You will only have to request through a text command using your registered mobile number.
You may check your loan balance through a text command using your cellphone. Up-to-date loan balance is also stated in the Official Receipt for every repayment you made.
Loan proceed can only be disbursed through banks/ATMS if you have a BDO Cash Card purchased at QCredit.
If you lost your e-Cash-registered SIM card, report it immediately to your field collector or your assigned QCredit branch. You will be advised to secure an Affidavit of Lost and a new SIM card.
If you forgot your e-Cash PIN, go to Help Support and submit a help ticket. Our representative will call you for verification and new PIN will be sent to your mobile number afterwards.
FAQs about BDO Cash Card
Minimal documents are required in applying compared to regular ATM cards. It is an ATM card and a Debit card in one. It has no maintaining balance. BDO cash card account does not earn interest.
Visit the nearest QCredit branch. Accomplished BDO Cash Card Cardholder Enrollment Form, present your valid primary ID and pay the corresponding fee at the cashier.
You will only need one valid ID and fully accomplished BDO Cash Card Cardholder Enrollment Form to apply.
You can have your own BDO cash card for as low as Php 250.00.
Yes. Charges may apply for non-BDO ATM transactions.
Go to the nearest QCredit branch and present two valid Ids for verification. Pay the replacement fee of Php 250.00 at the cashier.
Report immediately the incident by calling our hotline to initiate the freezing of your account. You may also call BDO customer care hotline but you still need to report it to the nearest QCredit branch.
You can get your BDO cash card replacement within 7 working days.
If you forgot your cash card PIN, just text CCPIN and send to any available QCredit gateway numbers.
For balance inquiry, free of charge in all BDO ATMs while Php 2.00 is charged for non-BDO ATMs transaction. An Php 18.00 service fee will be charged for every withdrawal you will make from non-BDO ATMs and Php2.00 from BDO ATMs.
Yes. It also has a debit card features like any other regular ATM cards.
No. BDO cash card is not a deposit account, thus, it does not earn interest even if you left money on it for a long time.
Yes, for those who availed a BDO Cash card your loan proceeds are automatically deposited.
