Thinking of applying to Billease for an installment plan? Here are some frequently asked questions that will help shed light on some of the important aspects of applying for a BillEase installment plan.
- 1 What is BillEase?
- 2 What are the application requirements?
- 3 How much can I borrow?
- 4 How long is a typical loan duration?
- 5 What are the interest rates?
- 6 How can I use BillEase in Lazada?
- 7 Can I use my Lazada Wallet Funds to buy multiple items from Lazada?
- 8 It’s been more than 1 banking day. Does this mean my application has been rejected?
- 9 What are you payment methods?
So you’re new to BillEase. You probably have a billion and a half questions in your mind on how it works, how you can apply, how you can use your vouchers, and how you can pay for eventual loans.
The process may be confusing at first but don’t worry, we’re here to help. Let’s break down our customers’ frequently asked questions as a reference for your future transactions!
What is BillEase?
BillEase is one of Lazada Philippines’ newest online partners. Through BillEase you can avail of an installment plan for all your Lazada purchases – may it be gadgets, clothes, makeup, or anything in between!
With BillEase, you have the option to shop now and pay in manageable installment chunks later. And because it is 100% online, the application process is definitely easier and more convenient for consumers!
What are the application requirements?
In order for your application to be considered, you must:
- Be at least 18 years old
- Have a stable source of income
- And possess a valid government ID.
Aside from these requirements, you will also be required to submit the following documents:
- Proof of Income
- Proof of Billing
- Valid government ID.
You can find a more in-depth discussion of the required documents here!
How much can I borrow?
If you’re applying to BillEase for the first time, you can borrow as much as ₱30,000! Of course, this is still subject to our credit team’s approval, so make sure you submit all the right documents when applying to BillEase for faster and better transaction process!
How long is a typical loan duration?
Again, if you’re applying to Billease for the first time, we allow up to three months of loan duration. As you continually use BillEase and service your installments well, you also get a chance that your maximum loan duration gets increased.
What are the interest rates?
Here’s the best thing about BillEase – we offer minimal interest rates on our three-month installment plans. Yes, you read that right. You can borrow as much as ₱30,000 and pay minimal interest for it!
Of course, you can still be charged other fees such as a processing fee, but we assure you that we endeavored to not burden you with unnecessary fees! You can also be sure that all additional fees will be shown to you with utmost transparency via the Terms and Conditions that will be presented to you before you sign the BillEase contract.
How can I use BillEase in Lazada?
Once you’ve finished applying to BillEase, you can now avail your credit limit through your Lazada Wallet. You can do this by logging in to your BillEase account and clicking the “Claim Now” button. Follow the rest of the instructions, sign your contract, and that’s it! You will also be notified via email once your credits has been top-upped to your Lazada Wallet.
We also wrote a separate FAQ for activating and using your Lazada Wallet Top-Up, among other topics. You can find the guide here.
Can I use my Lazada Wallet Funds to buy multiple items from Lazada?
Oh yes, you can. You can use your wallet funds to buy as many items as you want from Lazada – as long as you’re buying physical goods. And in the event that your purchase exceeds the amount in your Lazada Wallet (say your purchase amounted to ₱6,000 and your Wallet contains ₱5,000), you will simply have to top-up your wallet with the excess amount using the Lazada’s available top-up channels.
It’s been more than 1 banking day. Does this mean my application has been rejected?
Not exactly. While we do strive to approve all BillEase applications within 1 banking day, there are days when we receive tons of applications and need some time in order to approve all of them.
Also, it may mean we need more information from you! There’s a chance that you will receive an email from our credit team requesting for a reupload of your documents. While this may sound like a hassle, initially, this is being done to ensure our credit team gives accurate and well-evaluated decisions!
You can find a useful guide on submitting documents to BillEase here.
What are you payment methods?
We have loads! Currently, we accept payments via:
- Cebuana Lhuillier
- M Lhuillier
Aside from these payment methods, we also accept payments via the following banks:
- Security Bank
See, you’ll never run out of ways to send us your payments! You can also check out this step-by-step guide we made for paying for your BillEase loan here.
Applying to BillEase is easy, convenient, and hassle-free. Hopefully, with this guide, we managed to give you enough information and answered some of the numerous questions that you might have. Have more questions we forgot to answer here? Give us a shoutout in the comments section below!