LendAmi is a person-to-person online platform that allows people to transact loans between their family and friends safely and securely.

No. LendAmi is not a lender and does not loan money to users of the LendAmi platform. Loans are funded by the users themselves in the form of person-to-person loans with friends and family members. LendAmi is simply a platform that allows people to transact in a safe, secure, and responsible manner.

No.  LendAmi does not provide any credit check services nor gets involved in any of the terms between people. It is 100% up to the borrower and lender to mutually agree on terms.

No. LendAmi does not directly match borrowers to lenders. Borrowers can invite a family or friend to the LendAmi platform and send a loan request with terms that fit their paying capacity. Meanwhile, lenders can offer loans to family members and friends with loan terms they are comfortable with through the LendAmi platform. 

Borrowers and lenders need to work out their terms beforehand. After, the borrower or lender can create a loan agreement on the LendAmi platform and send it to the other party. It is up to both if they are willing to engage in the loan and use LendAmi to safely document and track their transactions.

Lenders have several ways of funding your loan:
1) Via bank transfer
2) Via e-wallet
3) Providing it directly to you in cash or check

For loans funded by bank transfer, once the loan is approved by both the borrower and lender, the bank transaction occurs. It usually takes 2 – 3 days for the loan funds to arrive in the borrower’s bank account.

For loans funded by cash, check, or something else of value, it is up to the lender to indicate when you will receive the funds. The loan terms will officially start and interest will begin to accrue depending on the date indicted in the platform by both parties.

LendAmi does not charge any interest on the loan. The LendAmi platform does allow lenders to charge interest. When submitting a loan request or offer, LendAmi provides guidelines to help you choose an interest rate that you’re comfortable with.

We are currently finalizing the other payment outlets. Stay tuned for updates. 

The minimum loan amount required is Php1,000 and the maximum loan amount allowed is Php250,000.

Much like an ATM, LendAmi charges a low 2.5% fee for each bank transaction between lender and borrower.  There are no additional platform or usage fees.

The LendAmi platform uses automatic bank transfers from the borrower to the lender so that loan repayments can stay on track.  LendAmi also sends reminders to the borrower when a payment is due so that they can make sure they have the funds available.

However, since LendAmi is not the lender, we do not have the legal authority to enforce loan repayment if any issues arise.  For record keeping, we recommend that borrowers and lenders print out and sign a copy of the loan agreement that LendAmi provides. This can be used if payment problems occur.

Users can cancel their account with LendAmi at any time. To cancel, please just reach out to our support team at [email protected].

You can have one bank attached to your LendAmi account. All loans that you are transacting through LendAmi will use that bank account.  You can remove and replace your bank account if you wish.

To remove your bank account from your LendAmi profile, just log into your LendAmi account and go to the Profiles page.  From there, click on Bank where you can add or remove your bank. Once your bank account is removed, no further transfers will take place via the LendAmi platform.

LendAmi uses data encryption throughout the application so that we never store your personal information or bank account details.

You can read our full policies in our Terms of Use and Privacy Policy.