Applying for Cash Loans in the Philippines

Have an urgent purchase or an idea to finance? Need cash fast in the Philippines? Are you Still counting the days before your next payday but already swamped with bills to pay? Have unexpected or emergency expenses that you have to pay off ASAP?

If you’re in a pinch, thankfully, you can always rely on cash loans to help you out.

In the Philippines, getting immediate, fast cash has never been this easy. As we increasingly shift to a digitalized world, more and more lending institutions have started offering loans online.

Online cash loans are becoming increasingly popular in the country. That’s why, if you need money right away, you can simply go online, apply for quick cash loans, and voila! You’ll get the amount you need ASAP.

Want to learn more about applying for a quick and easy cash loan online in the Philippines? Read on to find out more!

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Written by: Piggyy

Cash Loan Offers



Loan Term

up to 61 days

Est. APR

% 14.54 – 15.00

Loan Amount

Php1,000 - Php15,000



Loan Term

12 months

Est. APR

% 5/ daily

Loan Amount

₱10,000 - ₱25,000



Loan Term

14-180 days

Est. APR

% 49.68

Loan Amount

Php2,000 - Php10,000



Loan Term

3 - 6 months

Est. APR

% 12/month

Loan Amount

Php8,000 to Php40,000



Loan Term

91 - 120 days

Est. APR

% 180

Loan Amount

Php2,00 to Php20,000

What are Cash Loans?

Cash loans are sometimes referred to as quick cash loans or fast cash loans. These are a form of short-term personal credit, which, like their name suggests, are incredibly quick and easy to obtain. Anyone can apply for a cash loan, so long as they are of legal age and have a stable source of income. Easy cash loans are arguably the least stringent of loans, and also the most flexible. They’re also a form of unsecured loan, which means you won’t need collateral to apply for one.

Unlike housing loans or business loans, cash loans aren’t designed for any specific use in mind. These can be used for virtually anything you need, so long as they fall within the loan amount range offered by your lending company.




You can apply for a cash loan to finance a mobile phone you’re eyeing, to cover your child’s tuition fee, or to pay for urgent medical needs. All that’s needed is that you can pay off the loan amount in due time. Often, fast cash loans can be done completely online—that means, you don’t have to leave the comfort of your house to apply for this loan. Some instant loan providers in the Philippines give you a response in as quick as 15 to 30 minutes—that includes the whole application and evaluation process of your loan! For others, you can expect to get cash loans in an hour in the Philippines. What’s more, cash loans don’t require collateral or mortgage, unlike most bank loans.


However, it’s important to note that what sets fast cash loans apart is the fact that they’re designed for ease and convenience. This means that their interest rates, and the maximum amount they offer, aren’t exactly competitive. Most online cash loans in the Philippines, for instance, offer only up to Php 20,000 in cash for each application.

Some of them may even set a lower maximum loan amount for first-time borrowers. Their interest rates are also quite steep, with some reaching more than 10 to 20 percent monthly.


These higher interest rates are also usually payable in a shorter period, so this is an important consideration to note before applying for an online cash loan. This is exceptionally high in comparison to your typical bank loans, which come at very low-interest rates. For instance, getting a personal loan with commercial banks will get you a monthly interest rate of around 1.5% to 2%, in comparison to 10% to 20% monthly.

The minimum and maximum loan amounts vary as well. Most commercial banks in the Philippines offer loans with a minimum amount of Php 25,000, and a maximum amount of 1 to 2 million. However, unlike cash loans, these personal loans are normally payable over a longer period, usually starting at one year.


Why Get a Cash Loan?

Online cash loans are notable because of two things: ease of application and a quick processing time. So if you need cash ASAP, online cash loans are the fastest way to get money (apart from borrowing from friends or relatives, of course).


An online loan application for cash loans can be completed through a simple procedure—simply go to the website, enter the desired amount, answer the application form, and provide proof of identity using a government ID. After that, your application will be assessed, and you can expect the answer within the next 30 minutes! This is a breeze compared to applying for loans with banks or government institutions, which usually require various documentary requirements before making an application. What’s more, other institutions typically approve loans after a week, which might be too long to wait if you have an urgent need.


But, although it’s incredibly easy to get a quick cash loan online, that doesn’t mean you have to get it every single chance you get! After all, with their high fees and low maximum amount, you may find yourself paying off more than you can chew, especially if you simply use the loan for leisure. However, these loans are useful for emergencies and other instances where an urgent need for money arises. If you have nowhere to get extra cash from, you can rely on online cash loans to deliver—but of course, you have to be ready to pay the interest afterward.


So, if you need some more money for unexpected expenses, cash loans are your best friend. You can usually use them at times of :


  • Sudden hospitalization for oneself or a family member
  • Lack of money to buy expensive medication for unforeseen illnesses or emergencies
  • Sudden problems with appliances, equipment, or facilities at home that require repair or renovation
  • Delayed salary or other expected source of income
  • Payment for rent or other bills exceeding budget or cost estimates
  • Deadline for payment for tuition or other school-related expenses
  • Other emergencies or unexpected situations


Online cash loans do have high-interest rates, but considering the maximum loan amount you get, this interest rate is manageable, especially when spread out over a few months. This way, borrowers won’t be required to shell out too much from their pocket all at once. This makes them a useful option in times of dire need.

In summary, here are the pros and cons of getting a quick cash loan:



  • Can be used for anything you need
  • No need for a collateral
  • Quick application process
  • Minimal requirements
  • Same-day approval and disbursement




  • Loans can only be up to Php 20,000 usually
  • High interest rates
  • Risk of data being stolen online

Where to Get Quick Cash Loans in the Philippines

There are two primary fast cash loans providers: online lenders and commercial banks.


Applying via online lending institutions

The easiest way to get easy cash loans in the Philippines? Apply via online financing institutions. Some legit online loans give you their response in as fast as 30 minutes. The application process is relatively straightforward, too—you only need to file an online loan application and provide proof of your identity via a picture of your government ID. More stringent online lenders will ask for a payslip or a recent utility bill you’ve paid (Meralco, Maynilad, internet, etc.) as proof of good credit history. 


However, expect a low maximum amount when applying for cash loans online. Most online lenders only offer up to Php 20,000, with a chosen few offering up to Php 50,000 if you’ve been applying with them for a long time. Remember that these loans also tend to have higher interest rates, reaching up to 20% of the loan amount per month. The total amount loaned plus interest is usually paid off within 1 to 3 months, with some loans offering up to 12 months for more expensive loans. These are generally online loans with monthly payments in the Philippines, so you have time to pay off the cash loans.


Home Credit Philippines certainly is the most famous online financing institution for quick cash loans. Home Credit offers loans of up to Php 50,000 for cash loans; and up to Php 150,000, depending on your reasons for a loan, income, and credit history.


Other famous options include: Online Loans Pilipinas,, and Robocash. These are known to offer fast cash loan approval of under 15 minutes, plus various repayment options. These financing institutions are readily available online, and some even have a physical presence in other areas.


The Philippine market is rife with other online loaning facilities, so if you’ve seen one that’s promising, it’s best to ensure that they are registered with the Securities and Exchange Commission (SEC) as proof of their reliability as an institution. This way, you can rest assured that your information and money are in safe hands.

In summary, here’s what you need to know about applying for online cash loans with online lenders:



  • Easy, hassle-free application process
  • Fast approval rate
  • Less stringent requirements
  • Can be done completely online 


  • Higher interest rates, reaching as high as 20% monthly or more
  • The maximum loan amount possible is relatively low, with the average being Php 20,000
  • Not as secure as banks, which are regulated strictly by different authorities
  • Risk of data being stolen due to online application process

Applying via commercial banks

Surprisingly, some commercial banks also offer quick cash loans, though they might need a longer approval period. These are usually promotional offers for customers that have existing debit or credit card accounts with these banks. If you’re registered with a bank, it’s also a good idea to check out if they offer fast cash loans.

Banks tend to offer quick loans to loyal customers who have met their prequalification process, so this is an option you can take if you want a completely secure quick loan transaction. Applying with banks is certainly more secure, and they may also offer a higher maximum amount than online lenders do. Bank interest rates tend to be lower and more competitive, too, so this is a good option if you don’t need cash right away.

Here’s what to take note of in applying for bank loans:



  • Allows borrowing of larger amounts
  • Lower interest rates, payable over a longer period
  • More secure and reliable as they are heavily regulated strictly by PDIC and BSP


  • Stringent requirements and approval process
  • It May take longer for loans to be processed and approved
  • Requires paperwork; cannot be done completely online

What to Consider Before Getting Fast Cash Loans

Are you thinking of applying for an easy cash loan online? You need to know and prepare for many things if you’re planning to do so. Here’s a quick run-through of some things to consider before getting a cash loan:


Know the eligibility and documentary requirements

Banks and online lenders alike look for a few general characteristics in their applicants. Here’s how to know if you’re qualified to apply for an online cash loan:


  • Must be a Filipino citizen at least 21 years old
  • Must currently be residing in the Philippines
  • Must have been living in their current residence for at least a year 
  • Must have a source of income: either currently employed, self-employed or a professional
  • If employed, the applicant must be employed for at least one year with a stable source of income 
  • If employed, must have a minimum net monthly income of at least Php 6,000
  • Must have a valid email address
  • Must provide a valid bank account where the money will be deposited to

If you meet all of these eligibility criteria, well and good! It’s going to be much easier to apply for cash loans in that case.


If you’re sticking with an online cash loan application, you’ll have to prepare a few more documents before you can finish their application form. Most online lenders have the same set of requirements, so you don’t have to worry! These are the things you have to submit to complete your online cash loan application:


  • 1 or 2 valid government-issued IDs
  • Working email address and contact number
  • Company ID and/or payslip
  • For more stringent online lenders: proof of billing under your name for at least 1 month (Meralco, Maynilad, internet, cable, phone plan, etc.)


Check the interest rates for the lenders you’re eyeing

Interest rates vary from lender to lender. Of course, it’s also influenced by countless factors—your total loan amount, how long you’re willing to pay off the loan, and other factors. Some lenders have higher rates than others, which is why it’s important to compare interest rates! Normally, interests for cash loans are disclosed as fixed interest rates you have to pay off each month—you’ll be paying the same amount every month for the duration of your loan tenure.


Choose the loan tenure that’s right for you

Another factor to consider is how long you can pay off a loan, or your loan tenure. Know your capabilities as a payer—can you pay off your loan in just one month, or would you need three or six months?


Of course, choosing a shorter loan tenure will mean less interest to be paid. However, that would also mean that you need to pay a higher sum of money in one go. So review how much money you can afford to spend each month on paying off loans, and look for an online cash loan that will let you have the terms you want.


Go for a loan with convenient repayment options

This seems like a trivial thing, but it’s not. When choosing a loan, the repayment channels they offer must be available to you. Otherwise, you may find it difficult to pay off your loan, even if you have the means to!


For instance, if your lender only accepts payments made directly in their office based in Makati, while you live in Malabon, you may want to think twice about choosing that loan. You wouldn’t want this to be the biggest hindrance to pay off your loan in time. Hence, look for loans that allow you to pay through bayad centers, online merchants, or other options that are most available, convenient, and accessible to you.


How to Get a Cash Loan


Recognize the need for one

The first step towards getting a cash loan is to know if you actually need it and why you need it. You must be applying for a loan because it’s necessary to do so—and not simply because you’re enticed by the convenience they provide.


Before going for a cash loan, try to exhaust all other sources of money you can tap. For instance, if you can ask for your salary in advance, you can try that out first. Or, you can check if your friends or family members are willing to lend you money—especially if you’re not going to ask for a lot. This way, you’ll be able to acquire the money you need without having to worry about the high-interest rates that come with quick cash loans. However, if you see that the only option you can take to pay off what you need (e.g., medical bills, tuition fee, etc.) is applying for a loan, you can certainly do so.


Check out available cash loans online

If you’re sure about availing of an online loan, the next step is to check out what cash loans are available to you online. In doing so, make sure to note which loan fits your needs the best. Thus, it’s crucial to choose a lender who can provide you with the loan amount you need, with reasonable interest rates. If you’re a bit tight on budget monthly, you can also opt for a lender that allows repayment over multiple months, so you don’t have to spend too much each month.


It’s also an excellent choice to get a loan with multiple repayment options—preferably one with options readily available or accessible to you. Of course, if the need is extremely urgent, faster disbursement is a plus. Hence, you should also check out lending facilities that offer cash loans in an hour in the Philippines.


Apply and wait to be approved

Once you’ve settled on a seller, it’s time to start your application online. Most online lenders have similar steps when applying for an online cash loan. You can simply choose the loan amount you want, along with the loan tenure you prefer. Afterward, you’ll be directed to their online application website, where you will be inputting your details. For this step, it’s a good idea to prepare one valid government ID, along with other requirements from your chosen lender. This usually comes in the form of proof of billing or your payslip for the past month.


Make sure to double-check your details before submitting your application form. Pay extra attention to your name, contact number and email, bank name, and bank account number.


Sign the contract and wait for the money to be disbursed

After you submit the form, it will be sent for review by the lending institution. Some online lending companies process your application as quickly as 30 minutes to 1 hour after submission. Others will take a full day at most to check if you’re eligible for the loan.


Once you’re deemed eligible, an agent from the lending institution will be calling you to explain what you can expect from availing of the loan. This includes how much you will be able to borrow, when you need to pay, how long you will be paying, and how much you will be paying monthly (with added interest). They’ll also explain the rules and responsibilities of entering a contract with them.


If you agree to their terms and conditions, you may be sent a contract to sign. Make sure to send this over to them as early as possible so that your money may be disbursed quickly.


They will be sending the money to the bank account you indicated in your application form. Therefore, make sure you enter the correct name and account number to avoid any complications with receiving your loan. 


Repay the loan on or before the due date

The last thing to do is to repay the loan you’ve borrowed. To avoid incurring a late fee, don’t forget to pay on or before the due date/s given to you. If you will be paying via third-party channels (e.g., GCash, Bayad Center, etc.), it’s also a good idea to pay ahead of time, so you can consider the time it takes to process payment, which can reach up to 3 working days.


Borrowing Cash Loans Responsibly

First time availing of a cash loan? Not sure what to do to make sure that debt doesn’t pile up? Here are a few tips on how to manage your cash loans responsibly:


Only borrow what you need

Borrowing money can be difficult precisely because it can be tempting to loan more, so you have money to pay for things you want. However, it isn’t advisable to borrow more than what is needed, especially when working with a tight budget.


Online cash loans come with high-interest rates—this means the higher amount of money you borrow, the more interest you pay as well. So borrowing more than what is necessary will lead to you having to pay off much more than you should.


Additionally, borrowing what you need breeds the discipline of not spending more than necessary. This allows you to keep your budget in check.


Stick with reliable borrowers

Instant loans are becoming more and more accessible, primarily online. This means that you have to be more careful, though—make sure to check if the online lender you’re eyeing is reliable or not. To do so, check if the lending institution is registered under the Securities and Exchange Commission (SEC).


Refrain from borrowing from loan sharks or other non-SEC registered individuals which charge higher interest rates.


Pay your loan on time

One of the most important things to remember when applying for a loan is also to pay it on time. Late payments incur late charges, as well as additional interest on your unpaid balance. This ultimately leads to more expenses, which you should avoid at all costs.


When paying your dues, make sure to set a reminder a few days before the actual due date. If you’re paying via third-party channels, set a buffer time as well for the time it will take them to process your payment. If you tried out online loans with monthly payments in the Philippines, make sure to set a schedule for each due date, so you won’t incur a late charge.


Don’t apply for a loan to pay back another loan

This is one of the worst practices you can try, because, when not handled properly, this can cause your debt to balloon and go out of control.


Loans inherently charge interest; therefore, using a loan to pay off another loan adds extra interest that you have to pay. Over time, this may accrue to an excessively high amount of money. 


In addition, needing to apply for a loan to pay off another is a sign that your budget may not be enough to cover your spending habits. This means that you spend more than you earn in a month—and, with the many loans you have, you may need to keep on paying off loans after loans for a long time.

Frequently asked questions

Are cash loans a good idea?

Cash loans are a great choice for those who need money urgently but have nowhere to get it from. Loans aren’t necessarily bad, as they provide you the facility to pay off urgent or excessive expenses; however, cash loans do have higher interest rates than others, so you have to prepare for the extra expense when you apply for one.

Can I get cash loans even with bad credit?

If you’re applying with online lenders, they likely won’t do a credit check or credit investigation to approve or reject your loan. Therefore, even if you have a bad credit rating, you can still apply and qualify for cash loans from online lending institutions.

However, the same cannot be said for cash loans from banks or government agencies. These institutions are stricter with their requirements, and may not allow individuals with bad credit to loan or avail of their products.

What are the minimum and maximum cash loan amounts?

This depends on the institution you’re applying from. However, most online lenders in the Philippines normally offer online cash loans ranging from Php 500 to Php 20,000.

Who are eligible for a cash loan?

As long as you’re of legal age and have a stable source of income, you’re likely eligible for a cash loan. This is especially true for online cash loans, which only need one valid ID to complete the application.

When should I not get a cash loan?

Cash loans are convenient, but they shouldn’t be the first thing you turn to. Again, you should only get a cash loan if you need it, and you have already exhausted other options to borrow money from. If you’re not sure about your ability to pay off the loan, you may reevaluate as well if you’ll be borrowing one.

You can also consider other types of loans if there’s a dedicated loan for it—for instance, if you want to buy a house, you can try housing loans instead.


Instant cash loans are a great choice if you need money urgently, if your credit history isn’t the best currently, and if there’s no other choice you can try to get money from.

However, as with all loans, they still require commitment and are still a huge responsibility. Therefore, it’s important to evaluate if there’s an actual need for one and if you can pay off the loans in time.


״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates

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