Cash Loans Without Bank Account Needed Philippines

If there is one thing the world has taught people, it would be this: As dreams grow bigger, so does one’s need for money. Savings can be a good place to start when it comes to pursuing life goals. But, it would not always be sufficient to cover both one’s needs and wants, not to mention the possibility of a financial emergency. This is where financial services come in handy.

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Written by: Piggyy



Loan Term

6-10 months

Est. APR

% 39.78 – 54.756

Loan Amount

Php 3,500 - Php 500,000



Loan Term

3 to 6 months

Est. APR

% 142-143

Loan Amount

₱1,000 - ₱25,000

In the Philippines, many financial institutions are willing to assist Filipinos in need of financial help to meet their life and financial goals – whether or not they have a bank account.


The Role of Bank Account in Getting Cash Loans


Borrowing money does not generally necessitate having a bank account. The reason why loan providers in the Philippines request the borrower’s bank history is for them to examine his/her income and verify the cash flow, which gives them an idea of whether the borrower is financially capable to make payments. In other words, the need for a bank account can provide assurance to the lender. And without it, the lender would have a difficult time determining the borrower’s eligibility for the loan.


Furthermore, rather than issuing a check or requiring the borrower to claim the funds personally, lenders require a bank account for a faster and more secure disbursement process.


Is it Possible to Get Cash Loans Without a Bank Account Needed in the Philippines?


Filipinos can still get a cash loan without the need for a bank account. There are several loan providers in the country that allow unbanked Filipinos to apply for a loan; the majority of them are available online. 


There is a downside to this, however. Most of the lenders require unbanked borrowers to put up collateral; otherwise, they will be provided with smaller loanable amounts with higher interest rates and shorter repayment terms. Moreover, unbanked borrowers will be obliged to submit additional documentation to support their income and financial capacity to keep up with the payments since there is no bank history to be based on. 


Cash Loans Without a Bank Account Needed in the Philippines


Filipinos in need of cash loans but do not have a bank account can approach the following lenders:


Pawn Loans

Pawn Shops have long been the go-to place for Filipinos in need of instant cash. They have come to regard the place as a dependable friend who is always willing to lend a helping hand.


Pawn loans are secured loans, which means that collateral is required. Pawn Shops will not care about the borrowers’ bank account, credit history, or even the purpose of the loan as long as they have something valuable to pawn. The pawned item’s value is sufficient to determine the amount owed to borrowers.


Cebuana Lhuillier is one of the pawnshops that provide cash loans in the Philippines. 


Online Lenders


Online lenders also provide Filipinos with cash loans that do not require a bank account. In order to be qualified for cash loans, borrowers will only be required to sign up on the lender’s website and meet all the criteria provided by the lender. 


Unlike pawnshops, online lenders offer unsecured loans. And, because there is no bank account into which the borrowed funds can be deposited, the borrower must visit the lender’s designated office or any of its partnered outlets.


Listed below are the online lenders that offer cash loans without a bank account needed in the Philippines:


ACOM Consumer Finance Corporation

ACOM offers low-interest personal loans of up to PHP 500,000 to qualified Filipinos. Unbanked or banked, borrowers have the option to claim the loan proceeds at any of the LBC branches and other ACOM’s partnered outlets.  



Digido uses an online lending platform that provides instant loans to unbanked Filipinos, both individual entrepreneurs, and hired workers. Filipino citizens with the age of at least 21 are eligible for up to Php 25,000. 




Unbanked Filipinos who require additional cash to meet their financial goals should look for friendly and reliable financial services and products that do not require a bank account. There are many lenders in the country today; all that remains for unbanked Filipinos to do is find the best offer that meets both their needs and financial means.


But still, having a bank account will get Filipinos better loan offers. If lack of funds is an impediment to opening a bank account, there are bank accounts in the Philippines that provide low initial deposits and zero or low maintaining balances.


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

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