Benefits of online loans
Fast approval
It can take just a few minutes to get your loan approved
Clear terms
Transparent and easy to understand loan terms
Simple process
The whole process is done online, so there is no need to go anywhere to receive the money.
Easy repayment
Repay the loan using the Internet banking service or through your bank branch
Requirements for borrowers
Age : 20 – 75 years old
Have Stable Income
Filipino Residents
You must have an active bank account
Important Disclosures
Annual Percentage Rate (APR)
The annual percentage rate of charge is the total cost of the credit, which usually includes the interest rate, the fee and other charges for the year, or other similar rate calculated in accordance with local law, expressed as a percentage. The annual interest rate calculation does not include the costs of defaulting on the credit agreement.
Interest rate for the first month is 0%. Depending on the service, the interest rate can be different: per day from 0.8% to 2%, APR(annual percentage rate) from 10.5% to 71%.
Period for Repayment
Loan term (minimum and maximum period for repayment) from 62 days to 1 year. The examples are for informational purposes only. The home page is not a lender and does not issue loans, and is not responsible for the terms of loan agreements. All lenders compared are licensed
Example calculating the cost of loan
Each one has different requirements for the loan amount and loan duration. Lender’s online loan calculator is an exceptional tool that shows the exact repayment amount for each combination of loan amount and loan term. Let’s look at a sample calculation. The maximum annual loan rate is 143%. Take the amount of PHP 20,000 and a period of 6 months. In this case, your monthly payment will be only PHP 5,000, and the total cost of interest will be 2,383 pesos monthly. The availability of a loan calculator in the Philippines helps the Filipino have a clear idea about the optimal loan amount, term, and repayment before subscribing to any loans.
Penalty payments or renewal policy information?
If the loan amount is not repaid within the specified period, the lender may demand a penalty payment from the total amount of the overdue payment for each day of delay. If the payment is not made for a long period, without agreement, the lender has the right to unilaterally transfer the collection of the loan to third companies.
Important! By paying the loan on time, a good story is created, which in the future increases the chances of getting a loan on favorable terms.
How to apply for a loan?
Compare loans
Compare the available loan offers, choose the one that suits you best and click “Receive loan”
Apply for a loan
On the lender’s website, fill out the loan application, indicating all the necessary information. Submit an application and wait for the lender’s response!
Receive money
If the loan is approved, sign the contract and receive the money in your bank account
How to repay the loan?
Internet bank
You can make a monthly payment to the lender’s bank account using Internet banking.
Client account
Sign in to your client account, which can be found on the lender’s website, and you can make the payment there
Bank branch
You can make the payment by visiting one of your bank branches.
Tips for Getting Your Loan In Philippines
Build a Strong Credit History
Consistently paying your bills on time and maintaining a low debt-to-income ratio can build a strong credit history, increasing your chances of loan approval.
Maintain Stable Employment
Lenders prefer borrowers with stable employment. Having a steady job for at least one year can demonstrate your ability to repay the loan.
Keep Existing Debts Low
High existing debt can negatively impact your loan application. Aim to pay off or reduce your current debts before applying for a new loan.
Consider a Co-Borrower or Guarantor
If your credit score is low or if you have a high debt-to-income ratio, consider applying with a co-borrower or guarantor. This can increase your chances of approval and may help secure better loan terms.