Online Cash Loan Without A Bank Account

Examples of Online Cash Loan Without a Bank Account

DIGIDO 

Loanable amount:  

• Php1000 – Php10,000 (for first time applicant)
• Up to  Php25,000 (for repeat borrowers)

Interest rate:   

• 11.9% per month
• 143% maximum APR

Loan Terms: 3 months to 6 months

Once the loan is approved, the borrower will be able to get the loan proceeds through the Cebuana Lhuillier cash pick-up option or through GCash. The borrower may visit any of the Cebuana Lhuillier branches to collect the loan proceeds and simply provide the loan reference number. For GCash receipt, the borrower must have a GCash account to be able to withdraw the proceeds. 

To repay the loan, here are the different payment centers the borrower can choose from. They will only need to provide their loan reference number when making a payment. 

• 7-Eleven Payment Center
• Bayad Center
• ECPay 
• LBC
• MLhuillier
• Cebuana Lhuillier
• RD Pawnshop
• Coins.ph Wallet
• SM Dept / SM Supermarket / Savemore Counter
• Robinsons Department Store
• Bank Over-the-Counter Payment (any of the branches)
  • Asia United Bank
  • Banco de Oro
  • BPI
  • Chinabank
  • Eastwest Bank
  • LandBank 
  • Metrobank
  • PNB
  • RCBC
  • Security Bank
  • RuralNet Banks and Coops
  • UnionBank
  • UCPB

Loan Requirements:

• 1 government valid Id
• Proof of Income & Employment
  • Payslip
  • Certificate of Employment
  • Annual Income Tax Return
  • Company ID
  • DTI, Mayor’s Permit (for self-employed)

Eligibility:

• At least 21 but not more than 70 years old
• Employed or self-employed
• Filipino citizen and currently residing in the Philippines

Home Credit 

Loanable amount: Php10,000 or higher depending on the offer

Interest rate: will depend on the credit evaluation and loan offer

Loan Terms: 18 months to 36 months 

Eligibility

• The cash loan offer is available to existing Home Credit Customers with good payment history.

Claiming of Proceeds:

• Metrobank – present 2 valid IDs and your reference number, and fill up a remittance form.
• Bayad Center – visit any Bayad Center branch, present all IDs used in applying for the loan and the reference number given approval of the loan.
• Cebuana Lhuillier – go to the nearest Cebuana Lhuillier branch, present 1 valid ID, reference #, and fill up a Cebuana Lhuillier form.

Loan Repayment:

Borrowers can make payments through these different payment channels:

• Over-the-Counter
  • Palawan Express
  • RD Cash Padala
  • 7-Eleven
  • Touchpay
  • USSC
  • Bayad Center
  • TrueMoney
  • Rustans
  • Villarica Pawnshop
  • DigiPay
  • Cebuana Lhuillier
  • MLhuillier
  • SM Bills Payment

• Online Payment:
  • Shopee
  • GCash
  • Paymaya

• ATM Cash Deposit:
  • RCBC
  • BDO

Note: The loan reference number is required when making payments and should be noted in the transaction. 

GCash (GLoan)

The GCash loan is available to existing GCash users who use the app regularly. Only those who are pre-qualified can apply for a GCash Loan and once approved, the loan proceeds will be available in their GCash wallet. 

Loanable amount: Php5,000 – Php25,000

Interest rate: 1% – 4%; Standard rate 2.89%

Loan Terms: 9 – 12 months

The GCash loan will also be paid through the GCash wallet of the borrower. He or she should make sure that their wallet has sufficient balance before the due date. 

Conclusion

Most financial institutions prefer to send the loan proceeds through bank transfer because it is considered to be safer and faster. Lenders could also easily verify the credibility of the borrower using his or her bank account information. However, some lenders recognize the fact that there are people who do not have a bank account and still need financing help anyway. Through online cash loans without a bank account, those who need financing will be able to get one and not worry about where they can receive their loan proceeds.