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Is Surigao Safe and Fast Loan App? Surigao.Com Reviews 2023

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When it comes to accessing reliable loan services, individuals seek options that prioritize safety and speed. Surigao, a loan app, claims to offer swift funds with minimal requirements.

However, determining the credibility and adherence to responsible lending practices requires a comprehensive analysis. This article aims to provide an unbiased examination of Surigao's services, including loan terms, service fees, collection tactics, privacy intrusions, licensure, and overall adherence to responsible lending standards.

By analyzing these aspects, readers can make informed decisions regarding Surigao's suitability for their financial needs.

Loan Terms and Service Fees

The examination of Surigao's loan terms and service fees reveals potential ethical concerns and lack of transparency surrounding overall costs. While the loan amounts range from ₱50,000 to ₱3,000,000, the lengthy repayment periods of up to 36 months, coupled with monthly interest rates averaging 2.8%, could result in substantial APR costs for borrowers. Additionally, the taxes of 10% and unspecified service fees ranging from ₱100-800 could further increase the financial burden on borrowers.

Furthermore, Surigao's lack of free financial education resources raises questions about their commitment to helping borrowers make informed decisions. Without access to such resources, borrowers may not fully understand the potential long-term costs of their loans. This lack of transparency and educational support undermines the ethical standards expected from a responsible lender.

In order to address these concerns, Surigao should consider providing clearer information about APR costs and implementing comprehensive financial education resources for their borrowers. By doing so, they can enhance transparency and empower borrowers to make more informed financial decisions.

Collection Tactics and Privacy Intrusions

Surigao's collection tactics and privacy intrusions raise concerns about their ethical treatment of delinquent borrowers and their unrestricted access to personal contacts and financial data.

The impact on borrowers' credit and the potential for identity theft are significant factors to consider in evaluating the safety and reliability of Surigao as a loan app.

The daily late fee of 0.05% and the significant charges that multiply over lengthy loans can have a detrimental effect on borrowers' credit scores, making it difficult for them to access future credit options.

Additionally, the unrestricted access to personal contacts and financial data increases the potential for identity theft, putting borrowers at risk of financial fraud and other malicious activities.

These ethical and privacy concerns call into question the trustworthiness and responsible practices of Surigao as a lending institution.

It is essential for borrowers to carefully evaluate the risks before engaging with such loan apps and consider alternative options that prioritize consumer protection and privacy.

Licensure Questions

Doubts have been raised regarding the appropriate financing certifications of Surigao, including the failure to verify claimed registrations with SEC or Bangko Sentral ng Pilipinas (BSP).

This lack of verification raises concerns about the legitimacy of Surigao as a safe and fast loan app.

Regulatory oversight is an essential aspect of the lending industry, ensuring that borrowers are protected and that lenders adhere to ethical standards.

The failure to verify registrations with SEC or BSP indicates a lack of transparency and raises questions about Surigao's compliance with regulatory requirements.

Without proper certification, borrowers may be at risk of engaging with an unregulated and potentially predatory lender.

It is crucial for borrowers to have confidence in the legitimacy and regulatory oversight of the financial institutions they interact with.

Shortcomings Compared to Responsible Lender Standards

Surigao exhibits limited flexible repayment options and weak consumer protections, raising concerns about its adherence to responsible lender standards.

The lack of consumer safeguards in Surigao's loan services leaves borrowers vulnerable to potential abuse and unfair practices.

Additionally, the limited flexible repayment options provided by Surigao may not meet the diverse needs and financial situations of borrowers. This lack of flexibility can lead to difficulties in repayment and potentially put borrowers at risk of defaulting on their loans.

Responsible lenders should prioritize the well-being and financial stability of their borrowers by offering a range of repayment options that accommodate different circumstances.

Furthermore, consumer protections should be strengthened to ensure that borrowers are treated fairly and are not subjected to exploitative practices.


In light of the aforementioned concerns surrounding Surigao's lending practices, the conclusion can be drawn that further investigation and scrutiny are necessary to ensure the protection and financial well-being of borrowers.

The question remains: Is Surigao a trustworthy lending platform? To address this, it is important to consider alternatives to Surigao for fast loans.

Alternatives to Surigao for fast loans include:

  • Traditional banks: Banks have established reputations and are regulated by governing bodies, providing a higher level of security and consumer protection.
  • Peer-to-peer lending platforms: These platforms connect borrowers directly with individual lenders, offering competitive interest rates and flexible repayment options.

Frequently Asked Questions

Are There Any Additional Fees or Charges Besides the Monthly Interest Rates Mentioned in the Loan Terms and Service Fees Section?

Yes, there may be additional fees and charges besides the monthly interest rates mentioned in the loan terms and service fees section. It is important to carefully review the terms and conditions of the loan application process to understand all associated costs.

How Does the Daily Late Fee of 0.05% Affect Borrowers Who Have Longer Repayment Periods?

The daily late fee of 0.05% can significantly impact borrowers with longer repayment periods, potentially exacerbating their financial instability. It is advisable for borrowers with longer repayment periods to explore alternative lending options to mitigate the impact of such fees.

What Measures Are in Place to Protect Borrowers From Abusive Targeting by the Lender if They Become Delinquent?

Measures for borrower protection include consumer safeguards against abusive targeting of delinquent borrowers and privacy intrusions. However, the impact of the daily late fee of 0.05% on borrowers with longer repayment periods can be significant.

Is There Any Information on How Surigao Obtains Access to Borrowers' Contacts and Financial Data?

Surigao's data security measures and borrowers' privacy protection are not clearly disclosed. Further information is needed to determine how Surigao obtains access to borrowers' contacts and financial data, raising concerns about potential privacy breaches.

Has Surigao Established Any Partnerships With Credit Reporting Bureaus to Help Borrowers Build Their Credit History?

Surigao has not established any partnerships with credit reporting bureaus to help borrowers build their credit history. This lack of collaboration may limit the ability of borrowers to improve their creditworthiness through Surigao's loan services.


In conclusion, an objective analysis of Surigao's services raises concerns regarding its adherence to responsible lending practices. The loan terms and service fees should be carefully considered by potential borrowers, as well as the collection tactics employed and potential privacy intrusions.

Additionally, the lack of licensure raises questions about the legitimacy and reliability of Surigao as a loan app. Overall, individuals should exercise caution and explore alternative lending options that prioritize responsible lending standards.