1. What is Go Rewards Loan?
This is an additional feature in the Go Rewards Mobile app in partnership with Robinsons Bank (RBank) which allows the Go Rewards Member to borrow cash using their Go Rewards member points and earn additional points from the repayment process.
2. Who is eligible for Go Rewards Loan?
Each Go Rewards member must meet the following criteria to be eligible to use Go Rewards Loan:
- Must have the Go Rewards App
- Must be a Go Rewards member with at least 715 Go Rewards (GR) Points per availment;
- You must have an RBank account with the exception of RBank payroll, Time Deposit and Rwallet (Cash Card), and;
- Must be enrolled in RBank Digital
3. How can I avail the Go Rewards Loan?
You may only avail of a maximum loan amount equivalent to seventy percent (70%) of your total earmarked Go Rewards Points for the duration of the Go Rewards Loan. During the term of the loan, the earmarked Go Rewards points will be temporarily deducted from your available points balance and may not be used for redemption transactions.
Minimum of 715 GR Points = Php500 Go Rewards Loan
Maximum of 14,286 GR Points = Php10,000 Go Rewards Loan
4. Is there an interest when availing of a Cash Advance via Go Rewards Loan?
There is no interest to be paid for availing of the Go Rewards Loan. You will only pay a processing fee of P30.00 upfront for any loan below P1,000.00; P50.00 for a P1,000 loan and an additional P20.00 for each increment of P1,000 (e.g. For P2,000 worth of Go Rewards Loan, a total of P70 will be deducted to the availed amount as the processing fee).
5. Where and when will I get the proceeds of Go Rewards Loan once it is approved?
Go Rewards Loan proceeds will be credited to your nominated RBank deposit account in a matter of seconds after the loan approval.
6. When is my Go Rewards Loan payment due?
Go Rewards Loan must be repaid on or before the 30th calendar day from the date of the loan availment. Member will also receive notifications on the availment and payment reminder.
7. Can I have multiple Go Rewards Loan at a time?
You are qualified for multiple loan availment as long as you meet the minimum point requirement of 715 GR points per availment.
8. How can I pay my Go Rewards Loan balance?
Members can pay their Go Rewards Loan balance on these following payment channels:
- RBank Digital – via Bills Payment
- Top-up your RBank account and login to your RBank Digital.
- Click on the ‘Instabale’ Icon to get redirected to the Bills Payment page. Click on the ‘Continue’ button to complete payment transaction
- Robinsons Bank Branch – over the counter bills payment
- RBank Digital – via Bills Payment
9. When will my temporarily deducted earmarked Go Rewards Points be returned to me?
In the event of full payment on or before the due date, the corresponding earmarked Go Rewards points used to avail of the Go Rewards loan will be returned after 48 hours to your Go Rewards Account.
10. What if I fail to pay the Go Rewards Loan on time?
If you fail to settle the payment on the due date, once 5 calendar days have elapsed, the Bank will automatically redeem and apply the earmarked Go Rewards points for the settlement of your balance without prior notice. For example, if you borrow an amount of P500, the earmarked 715 GR points which were temporarily deducted will no longer be returned to your account 5 days after the due date.
11. Do I earn points if I avail of the Go Rewards Loan?
You will earn Go Rewards points for every successful Go Rewards Loan (Points earning is 1 GR Points for Loan below 1,000 pesos and 2 GR Points for every 1,000 pesos loan increment). Posting of earned points to your Go Rewards Account will take place after 48 hours upon every successfully settled/paid loan transaction. Earning and redemption of Go Rewards points shall be subject to the Terms and Conditions of Go Rewards.
12. What if I don’t have a Rbank account?
If you don’t have an RBank account, a link on the Go Rewards Loan page will redirect you to the RBank Sign Up App on Google Play or the Apple store. You can sign up for an RBank savings account once you have downloaded the RBank Sign Up App.
13. Can I avail the Go Loan if my Go Rewards points is less than 715 GR points?
Availment of Go Rewards Loan will not proceed if the points balance of the member is below 715GR points. An error message will be displayed.
14. Where do I raise my questions, concerns or issues while using the Go Rewards Loan?
If you have any additional questions or concerns regarding Go Rewards Loans and its provisions, you may reach our Customer Care team via the following channels:
- Robinsons Bank Customer Care hotline: (+632) 8637-2273
- Electronic mail via C3@robinsonsbank.com.ph
If you have any inquiries about the Go Rewards App, you may contact our Customer Care team via a ticket through our Help Center.
How can I get a Go Rewards Loan using the Mobile App?
How to Submit a Ticket Request?
How do I keep track of my points balance?