Best loan App Philippines 2024
The loan app Philippines is a mobile lending platform for customers where you get a loan. Installing such software makes access to the product even more nutritious and tasty. Usually users get iOS and Android versions, but sometimes the choice is limited to only one system.
Using online loan pilipinas reviews can help you compare and apply for loans easily. Using a mobile device, you can apply online on a smartphone or a computer. It is much faster and easier to get approved. Online lenders don’t require many documents for loan applications. However, some will require a nominated bank account. The loan proceeds are usually disbursed through partner remittance centers.
- Loan amount 2.000 - 90.000 PHP
- Interest rate 182,5% per year
- Term 91 - 180 days
- Loan amount 500 - 20.000 PHP
- Interest rate 3% per month
- Term 91 - 365 days
- Loan amount 1.500 - 25.000 PHP
- Interest rate 0.05% per day
- Term 120 days, 150 days or 210 days
- Loan amount 600 - 80.000 PHP
- Interest rate 16% per year
- Term 125 – 180 days
- Loan amount 5.000 - 15.000 PHP
- Interest rate 1.6%
- Term 7 - 60 days
- Loan amount 4.000 - 20.000 PHP
- Interest rate 2-4%
- Term 15 days - 24 months
- Loan amount 1.500 - 30.000 PHP
- Interest rate 0.5% per day
- Term 91 - 120 days
- Loan amount 1.000 - 20.000 PHP
- Interest rate 0% for the first loan
- Term 90 - 720 days
- Loan Amount 2000 - 20.000 PHP
- Loan Tenure 91 - 365 days
- Interest Rate 0,05% per day
- Loan amount 1000 - 50.000 PHP
- Term 1 - 121 days
- Interest rate 15 - 24 %
- Loan amount 2500 - 100.000 PHP
- Term 3 - 12 months
- Interest rate 1 - 5 %
- Loan amount 1.000 - 50.000 PHP
- Interest rate 0 - 24%
- Term 3 - 24 months
- Loan amount 3.000 - 20.000 PHP
- Interest rate 0.08% per day
- Term 91 - 180 days
- Loan amount 3.000 - 10.000 PHP
- Interest rate 10.8%
- Term 91 - 360 days
- Loan amount 5.000 - 20.000 PHP
- Interest rate 0.06% per day
- Term 91 – 365 days
What are the advantages of installing loan app
Installing a mobile application for the Philippines definitely does not hurt if you want to use permanent memory-based loan products. Many companies reward customers for loyalty, increased limits, and interest rates on promotions. individual bonuses are available only to application users. Other advantages of mobile programs:
You can download the legit loan apps online for free. Leading financial companies do not charge service fees, but in the case of little-known organizations, it is worth checking this point.
How to install the mobile loan app
On the website of the credit company, you can find links to the pages of programs on Google Play, App Store or AppGallery (depending on the version chosen). An alternative option is to go to any of the stores and enter the name of the service. The first method is more reliable, since there is a possibility of hiding “clones” (fakes under the official software). next steps:
- Download loan APK or download file for iOS to your device.
- Run the installation, easily accessible to the requested information.
- Wait for the installation to complete.
- Log in or register.
If the user does not yet have an account, he will need to upload all the necessary documents for obtaining a loan and pass verification.
What is the best loan app in philippines
There are a large number of credit organizations in the country offering to borrow money online. Many of them provide the opportunity to apply for a loan through a mobile application.
Cashwagon is good app that provides fast loans. It can be completed in minutes and requires very minimal documentation. The loan proceeds are transferred to your bank account or debit card, and you’ll receive a text message confirming the transfer of funds. While the repayment period is short, the interest rate is relatively high. Repeat borrowers can borrow up to P20,000 with a thirty-day repayment period.
Loan apps in the Philippines are also available for those who need money fast. Using an unsecured loan, you can apply for P10,000. The application requires only your bank account number, ID, and phone number. You can be approved in as little as five minutes. The money will be transferred to your bank account or GCash e-wallet within the same day. Once approved, the money will be in your account in as little as 24 hours.
BillEase is a service that allows customers to buy goods and services on credit. The platform cooperates with more than 2000 online stores. First you need to download the application, register in it, provide an identity card and proof of income to determine the available line of credit. The money received can be used to pay for purchases on partner sites.
The interest rate here ranges from 0% to 3.49% per month, which is one of the lowest rates on the market. The company is ready to provide up to 40,000 PHP for a period of 2 to 24 months. BillEase App is the best solution for fans of active shopping.
Cashalo is a loan company that offers the opportunity to shop even when you are out of money. Application users have access to low interest rates, which in some cases are equal to zero. To apply for a loan, a mobile phone and an identity card are enough.
Cashalo App makes the process of applying, receiving and returning money as simple as possible. It has its own bonus program. Members receive free coupons for preferential purchases and other gifts from the service and its partners.
Home Credit is an international company operating in many countries in Asia, Europe and North America. The service provides consumer lending services. The client can apply for an installment plan at any partner store by paying only the initial payment.
My Home Credit App will help you competently manage your debt and instantly pay for purchases via a QR code. Loans are available from the age of 18, the borrower will need an identity card, proof of address and income. The user of the program can take advantage of preferential offers of the service and partners, up to free installments.
Online Loans Pilipinas (OLP) is another good option. It offers loans with a fast approval process and no collateral requirements. Most people can repay the loan within one day or two days. As long as you have a bank account and a valid phone number, you can get the money you need in no time. You can get up to 25,000P at the rate of 12% to 36% with a 90-day repayment term.
Legit loan apps with low interest
Digido is a legal lending company registered with the SEC. You can get a loan here from the age of 21 (the maximum age is 70 years). Applicants will need a Filipino ID and mobile phone number. New customers are offered a free loan of up to PHP 10,000 for 7 days. Loans for a period of up to 180 days are available for regular borrowers in the amount of up to 25,000 PHP. Interest rate – 11.9% per month.
The Digido Loan App will help you not only get a loan quickly, but also easily repay it in a convenient way. You can deposit money from a card, through online banking or an electronic wallet. In many cases, transfer fees are absent or minimal.
Tala is a licensed financial company operating in several countries. Here you can get an online loan for up to 61 days. The maximum amount is 25,000 PHP, the interest rate is from 0.5% per day. In case of early repayment, recalculation will be made and the client will be refunded money for unused days.
To apply for a loan, you need to install the Tala App. From the documents you will need only an identity card confirming the achievement of 18 years of age. The money will be transferred to a bank account or Coins.ph wallet. A large selection of payment methods will allow you to pay off your debt in a matter of seconds without extra fees. You can earn discounts by inviting friends to the service.
If we consider the best loan applications in the Philippines, the MoneyCat mobile service platform will definitely be on this list. The company provides loans for a period of 90 to 180 days, the loan amount can be up to 20,000 PHP. Interest rate – 11.9% per month. You can apply from the age of 22, you will need an identity card.
Users who apply for the first loan in the program do not pay interest. In the future, they expect a variety of benefits for loyalty and participation in promotions. MoneyCat App is currently only available for Android devices, but the developers promise a version for iPhones soon.
GCash is the country’s leading e-wallet. More than 55 million people are registered on this service. With it, you can almost instantly pay for services and goods, transfer and withdraw money. Installing a mobile program will help you quickly find the most profitable and convenient options.
GCash App users connect to the Gscore bonus system. For various transactions in the application, they receive points that increase their ranking in the GCash credit line. A loan from 1000 PHP is available for them at any time. The maximum loan for a loyal client reaches 30,000 PHP. Promotions of the service and partners allow you to find bonuses literally every day. Even in the program, you can open a savings account without a deposit and start investment activities.
How to know if a loan application is legit?
Similar to traditional lending companies, there are scammers operating in the lending app industry. Even the Securities and Exchange Commission (SEC) is working with Google3 to make sure that loan applications have the necessary documentation before they appear in the app stores.
- Check the registration of the loan application with the state authorities.
A quick and reliable way to find out if a lending application is actually legit is to check the list of online lending platforms authorized by the SEC. This list contains companies licensed to provide lending services.
Please note that some loan application names may differ from their company names. Therefore, to search the list, you should use the official company name, which can be found on their website.
Also, when performing this check, you can find out if different applications belong to the same company. For example, Digido Finance creates the Digido and UnaCash apps. Therefore, a negative credit history in one application can affect another. The SEC also maintains a list of lending companies whose licenses have been suspended or revoked.
- Check out the reviews on the loan app page in the app store (Google Play Store or Apple App Store).
- Visit the lender’s official website and social media pages.
There is a growing industry of alternative loan institutions in the Philippines. According to the Philippines central bank, only 15.8 million of adult Filipinos have bank accounts. Meanwhile, 52.8 million people remain unbanked. With the rise of loan apps, only a small fraction of the population can afford to take advantage of traditional bank services. This growth is being driven by microloans and loan apps. The Philippines is home to many alternative loan institutions and microfinance companies.
With a variety of loan applications available in the Philippines, borrowers can get a loan with bad credit. Although these loans are more expensive than traditional bank loans, they offer flexible limits between PHP 1,000 and PHP 25,000. These loans can be disbursed directly into your bank account after approval. For new customers, the loan period can be anywhere from seven to 90 days. The interest rates are different from company to company, but they can never go beyond twenty percent per year. You will need a valid ID and a decent amount of income in order to qualify.