Online Loans Philippines

At you can borrow money now in an easy and secure way. We show you a wide range of online loan options in the Philippines, where you don’t have to talk to a bank advisor when you need your loan paid out.

PH - Digido


Loan Amount 10 000 - 25 000 php
Loan period 1 - 6 mo.
Minimum age 21 year
Interest rate 143 %
  • Get your first loan with 0% interest

  • Payout to your account within 4 minutes

  • Don't require guarantors or guarantee deposits

PH - Loanonline


Loan Amount 500 - 25.000 php
Loan period 3 - 12 mo.
Minimum age 20 year
  • Quick response time

  • Borrow money anytime anywhere

  • Competitive interest rates

PH - Finbro


Loan Amount 1.000 - 20.000 php
Loan period 12 - 12 mo.
Minimum age 20 year
  • 0% interest on first loan

  • Fast response on SMS

  • No guarantor nor a payslip

Online Loans Pilipinas – What are they?

When talking about loans, these are usually transactions done in physical places like banks and other lending companies in the Philippines. This can be time-consuming since you usually must wait in line to be entertained. In addition, once you are entertained, this doesn’t automatically mean that your loan application is immediately approved. You must wait a few more days and return to the bank or lending office again. Online loans Philippines have made this endless process easier.

Online loans are the solution to waiting in long queues when processing your loan application. A bank or a lending company often offers this. It’s a more convenient way to apply for a loan since they usually have minimal requirements for identification purposes. Online loans are also quicker to get approved compared to bank loans. The best thing is that you can process all of these online. You don’t need to go to a bank or a lending company.

Online loans are mainly a suitable option for those who don’t have a bank account or a credit card. This is often why it’s a popular choice these days since not only is the application process quick. The requirements are minimal compared to applying for a bank loan.

Why Apply for an Online Loan?

People mainly apply for loans due to financial concerns. One is to combine and pay down high-interest debt at a lower rate. Another is for home remodeling or moving costs. There are several reasons why people apply for loans. Since online loans have faster processing time and minimal requirements, here are some reasons you should apply for one.

  1. In case of Emergencies. Emergencies like medical emergencies are unavoidable. When you are worried about repaying the bill and are in a crisis, you can apply for online personal loans.
  2. Pay Bills. Paying bills, especially credit card bills, can sometimes put you in a problematic situation. By applying for online loans PH, you can pay your credit card bills on time and avoid paying the penalty.
  3. Buy New Assets. Buying assets in preparation for the future is also why you should consider applying for an online loan.
  4. Education. Applying for a personal loan to fund your schooling for your personal growth can also be another reason you should apply for an online loan.
  5. Unexpected Expenses. When you’re suddenly placed in a situation where you need to shell out money, online loans can be a fast solution to this problem.

Advantages of Online Loans

Aside from a more convenient application process, applying for an online loan has advantages that can help you in many ways. First is its flexible payment plan. Several fast cash loan apps offer flexible payment terms. This means that you can pay your dues more conveniently.

Another advantage of online loans is unsecured loans. This means that you are not required to provide collateral when you apply for an online loan. In other words, you can apply for an online loan even if you don’t have any properties listed under your name. Lastly, an advantage of an online loan is the growing credit limit. Applying for a loan, getting accepted, and paying your dues promptly give you a good credit score. Once you get a good credit score, your credit limit will increase over time.

Online Loans

Types of Online Loans

Banks and lending companies offer different types of online loans for different needs. Here are some of the most common types of online loans that you might encounter when you apply for one.

  1. Peso Cash Loan. This type of loan is usually for your personal use. For example, you can apply for a cash loan when you need to pay your credit card bills. This type of loan is direct and quick.
  2. Product Loan. This type of loan is usually for when you want to purchase a product like a device, appliance, furniture, etc.
  3. Seafarer Loan. This is intended for those who are seafarers.
  4. Salary Loan. This type of loan requires the lender to pay the loan through installments or full payment on their next paycheck.
  5. Franchise Loan. You can apply for this online loan if you plan to operate a franchise business.
  6. Business Loan. On the other hand, if you plan to start a business, you can apply for this type of loan.

2024 Best Online Loans Fast Approval Philippines

One of the things that you need to consider when applying for an online loan is choosing the best online lending company. Several online lending companies in the Philippines offer quick and fast processing. Here are some lending companies considered to be the best with fast approval.

  • RFSC. The maximum loanable amount is Php 100,000.00. The minimum salary required is Php 15,000.00, and the processing fee is 6% of the approved loan amount.
  • ACOM REVOMAX. They offer a maximum loanable amount of Php 500,000.00. You only need a minimum salary of Php 7,000.00 per month, and the processing fee is Php 1,000.00.
  • RFC Financing Loan. This is for when you want to buy new appliances for business or personal use. They offer a maximum loanable amount of Php 100,000.00. It would be best if you had a minimum salary of Php 18,000.00 per month when applying for a loan from this lending company.
  • Cash Wagon. This lending company offers a maximum loanable amount of Php 20,000.00. It would be best if you had a minimum salary of Php 6,000.00 per month, and the Maximum Tenure for this company is 30 days.
  • TALA Philippines. This lending company offers cash loans with a loan tenure of up to 30 days. The maximum loanable amount is Php 10,000.00, and no minimum salary is required.
  • South Asialink Finance Corporation OFW Personal Loan. For Seafarers, this lending company has a maximum loanable amount of Php 250,000.00. The minimum salary requirement is Php 20,000.00, and the processing fee is 5.5% of the loan amount.
  • Asteria Lending. This lending company offers a maximum loanable amount of Php 20,000.00 as long as you have a minimum salary of Php 10,000.00 per month. The processing fee is 10% of the loan amount with a maximum tenure of 360 days.

You may check out the official website for a complete list of sec registered online lending companies in the Philippines.

How to  Apply for an Online Cash Loan?

Now that you have an idea of the list of online lending companies, the next thing to do is find out their application process. Online loan application provides a seamless transaction most of the time. This is a convenient way for those who don’t have the luxury of time to line up in banks or other lending companies. Applying for online personal loans depends on the lending company, but the process is usually the same.

  1. Visit your desired online lending company’s website.
  2. Create an account or log in to your account if you already have one.
  3. Lending companies provide easy-to-navigate websites for their clients. You can navigate the loan section and choose the type of online loan you’d like to apply for.
  4. Click “Apply Now,” redirecting you to the application form.
  5. Enter the required details by the lending company and prepare your other documents like your ID photo and valid identification card.
  6. Click the “Submit” button once you’re done filling in the application and attaching the requirements.
  7. The lending company will assess your application. Most of the time, online loans easy approval is usually done.
  8. Once the company has found you eligible for the loan, you will receive an e-mail or a text message regarding the status of your application.
  9. Once your application is approved, the lending company will transfer the funds to your account.

Online Loan Application Requirements

When applying for an online loan, it’s best if you’ve already prepared your requirements. Frequently, most lending companies require the same documents during the application process. Once you’ve prepared your requirements, approval for easy cash loans is quicker and easier. Here are the documents you must prepare when applying for an online loan.

  1. Valid ID. The most common requirement whenever you’re applying for online loans is a valid ID. Frequently, online lending companies would require one (1) valid ID. However, there are also cases where they will ask for two (2) valid IDs, so make sure to prepare two just in case.
  2. Proof of Income. Lenders want to verify that you can pay back the money you loaned. This is why they would ask for your proof of income. In line with this, you can provide the following supporting documents for your proof of income:
    • Latest payslip for one month
    • BIR Form 2316
    • Certificate of Employment (COE). However, if you are self-employed, you must provide your DTI Permit or SEC Registration instead.
  3. Account Details. Lending companies will ask you to provide the account details where your loan will be disbursed once approved.

Legit Online Lending Apps 2024

Online loan sites are already convenient for those who don’t have the time to line up with banks and lending companies. A more convenient alternative is peso loan apps. Since it’s already in the form of mobile apps, you can apply for an online loan even on the go. Here are some online fast cash loan apps that you can choose to make things even more accessible.

  1. UnaCash. Another “buy now, pay later” option that you can consider is UnaCash. This is helpful for those who are first-time credit users. The loanable amount is from Php 1,000 to Php 50,000.00, with an interest rate ranging from 3% to 16%.
  2. My Home Credit App. This app also offers cash loans with a quick and easy approval process. All you have to do as a borrower is to upload your valid IDS and other requirements in their mobile app. The loanable amount is from Php 3,000.00 to Php 150,000.00, with a processing fee of Php 500.00.
  3. GLoan by GCash. Another famous name in the market, Gcash, does not only offer e-wallet services or credit services, but they also offer loans. The loanable amount they offer is Php 5,000.00 to Php 25,000.00. For lesser requirements, ensure your GScore is high so your loan gets approved faster.
  4. Cashalo. A popular choice for shopaholics. Aside from the pay later feature, you may apply for a loan in this app. The loanable amount is from Php 1,000.00 to Php 12,000.00. Processing fees range from 0% to 10%. So that you know, they charge late penalties, so make sure to pay your dues on time.
  5. BillEase. You can purchase online or in-store through this app with no interest charged. However, there are additional fees for late payments. The loanable amount is from Php 500.00 to Php 40,000.00. This is great if you’re looking for a fast cash loan app with low interest.

Best Loan App Philippines 2024

Loan apps like Pautang Online, Digido Online Loan, and more are popular these days. This is because they provide the convenience of applying for a loan anywhere at any time. Here are some of the best Loan Apps in the Philippines.

  1. Digido
  2. Oneclickmoney
  3. UnaCash
  4. Finbro
  5. Kviku
  6. Online Loans Pilipinas
  7. Robocash
  8. Money Cat
  9. CashMart
  10. Pera247
  11. Quickpera
  12. PeraJet
  13. 24 pera
  14. CashCat
  15. Easycash
  16. Monily
  17. Tala
  18. Cashalo
  19. Loanranger
  20. MoneyTree Quick Loan

The names mentioned above are usually online banks and online lending companies. However, some banks offer cash loan services. For example, the quick loan union bank feature allows you to apply for a loan with Union Bank through their mobile app. Again, when applying for online loans, it would be beneficial if you have already prepared your requirements beforehand for a faster and smoother transaction.

Types of Unsecured Loans

Unsecured loans are loans where you don’t need collateral to get approved. This kind of loan is riskier on the lender’s side. However, they continue to offer different types of loans. Personal loans and student loans are the most common types of unsecured loans. The application process for this type of loan is less demanding than for secured loans.

You may apply for an unsecured loan if you prefer not to pledge collateral. The downside of this type of loan is that it tends to have a higher interest rate than secured loans. There are also additional loan fees as well. Still, if you think you need to apply for this type of loan, you should go for it. Also, best to check online loans Pilipinas reviews for more pros and cons regarding secured and unsecured loans.


Can Online Loans Sue You Philippines?

Yes. Online lending companies can sue you in the Philippines. This is why before applying for a loan, you must be able to pay back the loanable amount according to your payment terms. Online loan companies approved your application, meaning that they have placed their trust in you that you can pay your dues on time. If you can’t pay back your loan, they can sue you.

To avoid this situation, please ensure you only apply for the amount you can afford to pay back. Also, please make sure to pay your dues on time to avoid penalties for late payments. If you can’t repay your loan, you can directly contact the lender and raise this concern. They may offer an alternative solution that can benefit both sides. So as you know, online lenders have specific terms and conditions. So, please remember these terms and conditions.

Are there any Legit Online Loans?

Yes, there are several legit online loan sites and apps. Most of these online loan apps are already well-known names in the industry. There’s also a complete list of online lending companies that are sec-registered. If your desired online lending company is on the list, it proves it is legally operating.

Reading online loans Pilipinas complaints can also help you determine whether an online lending company is legitimate or a scam. Before signing up and applying for an online loan in a particular company, you do a background check first. This also includes finding out if their payment terms are flexible enough for you.

What does Fast Loan Approval No Credit Check Philippines mean?

Those with a bad credit score or no income can still apply for an online loan. To apply for this loan, you must first look up any online lending company that offers this service. Once you have found one, you can check the application process and see if you meet the requirements.

So that you know, the vital thing you need to note regarding no-credit-check loans is the high-interest rate. Like unsecured loans, this requires you to pay higher interest than the usual online loans. This is because the online lending company has to compensate for your high risk as the borrower.

Unpaid Online Loans What Happens Philippines?

Banks and lending companies are required to file a report regarding unpaid loans. These reports are sent to the Credit Management Association of the Philippines (CMAP), where they will determine the credit score and penalties of the borrower. In line with this, they can block you and prevent you from applying for a new loan for at least five (5) years.

If you discontinue paying for your online loan, you won’t be able to apply for a new one for at least five (5) years. In addition, this can also lead the bank or the lending company to sue you. Therefore, always make sure to repay your online loan to avoid getting caught up in this situation.