Best loan app Philippines are online reputable lending platforms that have been duly licensed by Securities and Exchange Commission (SEC) in order to protect Filipino borrowers from any scam and unsecured credit common with fake loan apps. When having an online loan application therefore, it is important to only patronize the list of the best online lending companies that have been verified by the SEC as legitimate finance or lending businesses.
Loan apps are becoming increasingly popular – more and more Filipinos prefer to draw up a loan just by taking a smartphone into their hands and opening the app. In the Appstore and Google Play Store, you will find a lot of applications through which you can draw up a loan. But the question is: can you trust each of the loan apps? Some of them claim to be legit loan apps, however, the reality is always many of them are fake loan apps that go about sending defamatory messages to customers’ contacts and exposing their data privacy to the public.
Top 14 Best Loan Apps In Philippines for Emergency Cash advances and Quick loans
Some of the best loan app Philippines to take an emergency cash advance from your wages or quick loan with guaranteed approval and superfast disbursement include Cashalo app, Digido app, UnaCash app, Juanhand app, GCash app, Tala app, BillEase app, MoneyCat app, PeraAsia app, My Home Credit among others. These lending applications are highly legit and approve loans within few minutes without credit check. Your cash can be disbursed into your account in few minutes or at most within 24 hours.
1. Cashalo App
Cashalo is one of the best loan app Philippines used to pay by installments for shopping purchases, and it has over a thousand partner locations countrywide. So, if you don’t have a bank account or credit card, this is a fantastic option. Cashalo lending platform allows its customers to register via the online app and receive disbursement on all days of the week, any time of the day.
Thanks to the automatic review system and direct disbursement after the application is approved, the Cashalo fast loan application has more and more customers registering and using the service. If you need money for anything other than shopping, you may get a cash loan using their app. Interest rates is 0% to 5.99% per month while loan amount is Php 1, 000 – Php 12, 000 (Higher loan limit becomes available as you pay on time through the app). Monthly repayment is 3 to 8 months and loan can be approved in less than 24 hours. Fees is 0% to 10% processing fee.
2. Digido App
Digido is one of the most popular best loan app Philippines that you can use for small payday advances and quick loans. The platform is also one of the most sought-after options as all Filipino citizens have access to the Digido APK. You may obtain a rapid loan using only your cell phone and the Internet by downloading the Digido Philippines free. This software has a 4.5 overall user rating and is available for iOS and Android.
Those who want quick cash that may be supplied on the app might choose the Digido Philippines Loan App. The business provides a loan with a high acceptance rate and an uncomplicated application process. Regular customers can anticipate a credit limit of Php25,000, while new users might anticipate a limit of Php10,000. Digido Philippines charges an application fee of 11.9% each month for three months.
3. UnaCash App
Yet another popular best loan app Philippines, UnaCash app is a simplified line of credit which helps Filipinos bridge financial gaps. The flexible loan terms offered by this “buy now, pay later” service are especially helpful to people who are using credit for the first time. With UnaCash, everything is digital and it gives you convenient and seamless experience with low interest rates. No bank visits needed, no hidden charges, and definitely no hassle application.
Interest rate varies from 3% to 16% monthly and loan amount from Php 1, 000 – Php 50, 000. Tenure is 2 to 6 months and loan could be processed within 24 hours. UnaCash is indeed one of the most legit loan apps in Philippines and arguably one of the fastest lending applications in the country.
4. Juanhand App
Yet another reputable option in our list of best loan app in Philippines, Juanhand is no doubt one of the legit lending platforms giving customers access to large some of money as quick loans. It was developed by Wefund Lending Corp and offered to customers with urgent financial needs from 2.000 – 10.000 PHP. Customers who borrow money via the Juanhand app only need an ID card, no need to prove a source of income or collateral. It takes only 15 minutes to make a 100% online application and disburse through the borrower’s bank account.
5. GCash App
GCash is one of the very popular best loan apps in Philippines that gives you loan in a speed of minutes. With this app, you can turn a mobile phone into a virtual wallet where you can save money and withdraw same into your bank account or move money within wallets including PayPal. With GCash app, the user can pay for purchases and transfer money at the speed of a text message. GCash App allows you to easily and quickly make various transactions without cash!
Using GCash, the user can pay for purchases in online stores without using a physical card. To do this, the American Express Virtual Pay card related to the mobile wallet is used. Another feature of GCash is the free withdrawal of funds from the electronic payment system PayPal.
6. Tala App
Next on our list of the best loan apps Philippines is Tala, a popular legit platform that allows you to get quick online loan in 5 minutes. Tala is a cutting-edge provider of mobile technology and data science that aims to revolutionize global financial services and credit scoring. To begin applying for loans online, download the app. Register and complete a brief application on the Tala application after downloading the program. It should just take a few minutes to apply.
With this app, users can enjoy fast, flexible, and secure loans up to PHP 1,000 — 25,000 with interest rates as low 0,5% per day. Loan tenure ranges from 21 — 30 days and approval is within 24 hours or less.
7. BillEase App
While it was originally designed as a “buy now, pay later” program for online purchases, BillEase, one of the best lending app in Philippines has now expanded to include a “Cash Disbursal” function that lets users withdraw their available BillEase credit as cash.
Filipinos may use this installment loan app to make both online and in-store purchases with no interest charged. It does not have any additional fees for things like late payments or servicing and cash approval and disbursement is instant. Interest rates is between 0% to 3.49% per month while loan amount is between Php 500 – Php 40, 000 and tenure ranges between 30 days – 12.
8. MoneyCat App
One of the best loan apps Philippines, MoneyCat is a financial and technical platform designed specifically to provides financial mobility to Filipinos and the possibility of instant borrowing at any time of the day. This application is based on mobile Internet security technology and Big Data analysis. Money Cat allows receiving the credit for the term from 90 to 180 days. The annual loan rate through this application is 16.6% per month. Borrowers are not charged for the transaction. This service is available only to Philippine citizens over the age of 20.
The main advantage of Money Cat is the ability to obtain the necessary borrowed funds, being at home or in the office. The whole process of drawing up a loan agreement is carried out online. It takes no more than 5 minutes to register an account, submit an application and conclude an agreement.
9. PeraAsia App
PeraAsia, yet another leading loan app in Philippines, allows you to take quick cash loans without any collateral mobile application that allows residents of the Philippines to get a quick online loan. To do this, it is enough to fill out the form and apply. According to statistics, more than 95% of PeraAsia users receive a positive response from loan officers. This is one of the best lending apps.
PeraAsia services are available exclusively to individuals aged 20+. It usually takes no more than two minutes to process an application from clients. Potential borrowers can draw up loans ranging from 1 to 30 thousand Philippine pesos. The minimum loan term is 61 days, the maximum is 360 days. As the loan term increases, the interest rate rises.
10. My Home Credit App
My Home Credit app – a mobile app that allows you to get cash loans at a minimum interest rate with installment of credit payments being only 28 Philippine pesos per day. My Home Credit offers non-cash loan offers in-store financing options for appliances, gadget purchases, business development, purchase of a new smartphone, repair a home or buy a car, etc. Through the mobile app, borrowers need to simply upload to valid IDs to get the loan proceeds.
Interest rate: 2.5% to 5.5% monthly interest rate (depends on loan amount) while loan amount is from Php 3, 000 – Php 150, 000 (Higher loan limit becomes available as you pay on time through the app). Tenure: 3 to 30 months. Once application is fully executed, customers can get cash as fast as 5 minutes. Fees include ₱500 processing fee.
11. LANDBANK Mobile Banking
LANDBANK is the bank that the government primarily uses to facilitate pensions. What many people do not realize is that it also has commercial offerings, and it’s therefore one of the top legit loan apps in Philippines.
In the app, you can apply for a loan. To be able to do this, you need to meet the loan requirements. There are 3 types of loans that you can apply for: a loan for farmers and fishers, a housing loan, and a business loan. LANDBANK does not offer personal loans. The requirements for the loan are not mentioned on the site. If you will apply for a loan online, you must fill out the application form.
Because this is a business loan, you must expect to provide documents proving that you are a registered business. As such, you need proof of your identity and proof of your business registration. The bank may also ask you to provide collateral. The good thing about this bank is that, unlike other banks, it seeks to help out small businesses and those in the agricultural industry. What this means is that the interest rates are really low.
12. Online Loans Pilipinas
Online Loans Pilipinas (OLP), yet another best loan app Philippines, is a fintech platform that caters to digital financial solutions in response to Filipinos’ needs. The platform is focused on online micro and consumer financing and we aim to uplift the financial well-being of customers.
OLP provides fast and easy service financial solutions to every Filipino’s financial needs without office visits, collateral, complex approval process, or waiting in a queue. With this app, you can get a special offer for new clients: as low as 0% interest and without other fees credit. The minimum interest rate is 0% and the maximum APR is 200%. One time late payment fee is 500₱ (in case of delinquency of each monthly payment).
13. UnionBank Online
If you are looking for one of the best loan app and lending institution in Philippines, you can count on UnionBank and you can apply for a credit card or for other types of loans from this reputable and legit platform. This bank offers car loans, personal loans, housing and business loans, and also quick loans. For quick loans, just go to the app or the website and apply. Like LANDBANK, you will be asked to fill out an application form. Prepare scanned copies or pictures of your documents and attach them to the application.
Take note that this program is for people who are earning salary or payroll through UnionBank. These are not necessarily employees of the bank – it is just that their salaries are processed by UnionBank. If you do not qualify, you have to apply for a personal loan which is for anybody who is employed in the Philippines.
14. Cashwagon App
Cashwagon is yet another one of the best loan apps in the Philippines for urgent online credit processing. The app gives fast cash loans up to PHP 40,000, with Express cash disbursement on the same day – guaranteed! You can take your first loan – PHP 6,000 absolutely free, 0% interest, and 0% service fee! Loan term: Minimum of 91 days and a maximum of 180 days. Interest rates is 12% per month (maximum APR 144%). Loan amount: PHP 8,000 to PHP 40,000.
Many online loan applications have already been banned by SEC. Some of them were practicing unethical lending practices and scam projects. For sure not all scam projects were closed, so be aware about it and choose only legal and legitimate popular apps with reputation and trust among Filipinos. Choose only the best loan apps Philippines and solve your financial problems quickly and with flexible terms that suit you.
Most online lending companies and loan apps require borrowers to provide personal information such as phone numbers, bank details, personal profile information. Therefore, borrowers need to be careful when providing information so that it does not result to their defamation or public shaming of their family and contact friends by the lending apps.