List of Ten Banks offering Personal Loans in the Philippines
Citibank Personal Loan
Loan Features
Loan Amount: Php 20,000 up to Php 2,000,000
Loan Tenure: 1 to 5 years
Interest Rate: 26.90% to 30.90% per annum
Approval Duration: Within 24 hours
BPI Personal Loan
Loan Features
Loan Amount: Php 20,000 up to Php 1,000,000
Loan Tenure: 1 to 3 years
Interest Rate: 14.40% or 1.20% per month add-on
Approval Duration: Within 8 to 13 banking days
EastWest Bank Personal Loan
Loan Features
Loan Amount: Php 25,000 up to Php 2,000,000
Loan Tenure: 1 to 3 years
Interest Rate: Starts at 1.49% for loans with 12 months of loan tenure
Approval Duration: Within 5 to 7 banking days
CIMB Personal Loan
Loan Features
Loan Amount: Php 30,000 up to Php 1,000,000
Loan Tenure: 1 to 5 years
Interest Rate: 13.47% to 23.36%
Approval Duration: Within 10 minutes
Welcome Bank Personal Loan
Loan Features
Loan Amount: Php 50,000 up to Php 500,000
Loan Tenure: 1 to 3 years
Interest Rate: 19.20% per annum
Approval Duration: Within 2 to 3 business days
RCBC Savings Bank Personal Loan
Loan Features
Loan Amount: Php 50,000 up to Php 1,000,000
Loan Tenure: 6 months to 3 years
Interest Rate: 15.60%
Approval Duration: Within 5 to 7 banking days
Maybank Personal Loan
Loan Features
Loan Amount: Php 50,000 up to Php 1,000,000
Loan Tenure: 1 to 3 years
Interest Rate: 15.60%
Approval Duration: Within 5 to 10 working days
UCPB Your Easy Salary (YES) Personal Loan
Loan Features
Loan Amount: Php 50,000 up to 300,000
Loan Tenure: 1 to 3 years
Interest Rate:
- Fixed Rate of 18.00% per annum
- Interest Rate of 1.50% per month add-on
Approval Duration: Within 5 to 7 working days
HSBC Personal Loan
Loan Features
Loan Amount: Php 30,000 up to Php 500,000
Loan Tenure: 6 months to 3 years
Interest Rate: 14.52%
Approval Duration: Within 5 to 7 working days
- PSBank Flexi Personal Loan
Loan Features
Loan Amount: Php 20,000 up to Php 250,000
Loan Tenure: 24 to 36 months
Interest Rate:
- Term Loan: Effective Interest Rate P.A. of 42.88% for 24 months and 41.29% for 36 months
- Revolving Credit: Effective Interest Rate P.A. of 34.49% for 12 months
Approval Duration: 5 to 9 working days
Which Bank in the Philippines is the Best Option to Avail Personal Loans?
The best bank that offers personal loans in the Philippines will depend not only on your own preference but may also be measured in accordance with your purpose and qualifications.
Loan providers may vary from each other depending on the loan features that they offer. There are banks that offer low-interest rates but their services may not be what the borrower is looking for or perhaps, the borrower is not qualified to avail the personal loan.
There are also loan providers which provide the best loan amount options but the borrowers could not afford the payment terms because of the longevity of its tenure.
Simply put, to know the best bank that offers personal loans in the Philippines is to consider and understand that the best loan deal depends on what loan feature best fits what the borrower needs.
The following may serve as your guide to weigh down the best feature of different loan providers and determine the best loan option you could avail:
| LOAN FEATURE | TOP PREFERRED BANK/S |
| Low-Interest Rate | HSBC with 1.3% per month |
| High Loan Amount | Citibank with a maximum of Php 2,000,000 |
| Longer Loan Tenure | Citibank with up to 5 years |
| Quick Approval | CIMB, Cashwagon, Asteria, Tala Philippines |
| Minimal Requirements | Tala Philippines |
Conclusion
Whichever bank that offers personal loans in the Philippines extends help to ease the financial burden of many Filipinos. For whatever reason there may be, they serve as a tool that provides extra and immediate cash with just a few steps through simple application processes.
Piggyy
״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates
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