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Top Cash Loans Online Philippines

Online credit companies have been one of the most successful businesses operating today – both locally and globally. Through the help of the advancements in technology, providing financial products and services to all has been made easier with customers only having to deal with financial institutions using only their smartphone or personal computer and a stable internet connection.
One of the most convenient ways to apply for a cash loan online in the Philippines is by using the developed mobile applications of financial institutions that can be downloaded to smartphones.

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Written by: Big Piggyy

Rating

5/5

Loan Term

6-10 months

Est. APR

% 39.78 – 54.756

Loan Amount

Php 3,500 - Php 500,000

Rating

3.9/5

Loan Term

3 to 6 months

Est. APR

% 142-143

Loan Amount

₱1,000 - ₱25,000

Rating

3.6/5

Loan Term

18 - 36 months

Est. APR

% Varies

Loan Amount

Php10,000 - Php150,000

Rating

3.3/5

Loan Term

7 - 28 days

Est. APR

% 20.8415

Loan Amount

Php5,000 - Php50,000

Factors to Consider in Comparing Loan Offers

 

Higher Maximum Loanable Amount

There are many factors that influence the need of people to apply for a loan but most of that stems from the fact that the prices of basic commodities have increased while salaries remained the same and as a result, the household budget always falls short each month. When emergencies arise, a person has nowhere to go to but approach financial institutions for a cash loan. Depending on their needs, the higher the maximum loan amount is afforded to them, the better. 

 

Lower Interest Rates

The interest rates determine whether cash loans are affordable or not. Most of the time, lenders who offer online cash loans promise fast processing but charge higher interest rates while others provide more requirements than others but offer lower interest rates. The decision should always depend on the need of the borrower. 

 

Agreeable Payment Terms

A longer payment term is preferable because it allows the borrower a more affordable loan repayment amount. 

 

Additional Fees and Charges

The other thing that borrowers must be wary about is to make sure that the lender offers loans without hidden charges. The fees and charges must be communicated to the borrower before signing a loan agreement. If it is not provided, the borrower should feel free to ask for it. 

 

Top Online Cash Loan Philippines

 

Based on the research we have conducted, the following financial institutions offer the top online cash loans currently available in the Philippines: 

 

Acom (Consumer Finance Corporation)

Loan amount: Php3,500 to Php500,000

Interest rates: 3.315% – 4.563% per month or 39.78% – 54.756% APR

Loan terms: 6 months to 10 months

Additional charges: 

  • Processing Fee: Php1,000
  • Lending Fee: Php500

 

Home Credit Cash Loan 

Loan amount: Php10,000 to Php150,000

Interest rates: depends on the credit evaluation

Loan terms: 18 months to 36 months

 

DIGIDO PH 

Loan amount: Php1,000 to Php 25,000 

Interest rates: 11.49% per month or 143% APR

Loan terms: 3 months to 6 months

 

Cash Mart PH 

Loan amount: 

  • Salary Loan: Php5,000 – Php30,000 
  • Personal Loan: Php5,000 to Php50,000 

Interest rates: 0.8% to 3.5%

Loan terms: Fixed Term

Loan Term

6-10 months

Est. APR

% 39.78 – 54.756

Loan Amount

Php 3,500 - Php 500,000
Review

Loan Term

3 to 6 months

Est. APR

% 142-143

Loan Amount

₱1,000 - ₱25,000
Review

Loan Term

18 - 36 months

Est. APR

% Varies

Loan Amount

Php10,000 - Php150,000
Review

Loan Term

7 - 28 days

Est. APR

% 20.8415

Loan Amount

Php5,000 - Php50,000
Review

Conclusion

 

Online cash loans in the Philippines have changed the way people approach financing and credit. It has undoubtedly become more convenient for people to borrow and more people have become financially included. 

 

Some people are not able to obtain cash loans from traditional banks because of the strict documentary requirements. Online cash loans provide simpler documentary requirements, swifter loan processes, and quicker loan disbursements. 

Big Piggyy

"Show me the MONEY!!!" – Jerry Maguire

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