Applying for Quick Loans in the Philippines: The Full Guide

Sometimes, we just need some quick cash to cover expenses we didn’t expect. For example, perhaps you’ve had to spend more on medicine or a medical procedure, or maybe you have important expenses to pay for that you just can’t afford yet. Either way, it’s a good thing that loans exist for urgent situations like this. Specifically, a quick loan online may be what you need to obtain the money you need easily.

With its convenience and quick approval period, instant cash loans can readily assist you in whatever you may need them from.

Read more

Written by: Piggyy

Quick Loan Offers



Loan Term

3 - 6 months

Est. APR

% 12/month

Loan Amount

Php8,000 to Php40,000



Loan Term

3 - 6 months

Est. APR

% 142.8 - 145

Loan Amount

500 - 20,000 PHP



UnionBank offers Quick Loans up to ₱1 million. Apply for this loan product now.



Loan Term

1 to 120 days

Est. APR

% 40.72 - 52.89

Loan Amount


What are Quick Loans?

Quick loans, also called instant cash loans, easy cash loans, or fast cash loans, are a form of short-term personal credit. They stand out from other loans because they’re quick, convenient, and easy to obtain.




Quick loans in the Philippines also go by different names, such as salary, payday, or personal loans. Just as the name suggests, this the perfect loan for those who need cash fast in the Philippines. The concept is that these loans give you access to money that you urgently need, even before your next payday. 


As such, these loans normally have shorter tenures as well, with the payment period being a month on average—just in time for you to get your next paycheck.


Because quick loans are designed for ease and convenience, they usually disburse a smaller amount of money compared to most loans. In the Philippines, most providers for a quick loan online, 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.


Another downside to its accessibility is that quick cash loans come at a higher interest rate. These higher interest rates are also usually payable in a shorter period—but, considering the lower loan amount that distinguishes quick loans, the high interest shouldn’t be too much for its payors to handle.


How Fast Do Quick Loans Get Approved?

Quick loans are extremely accessible, with most of them being done online. On average, a quick loan online can get approved after a few hours, and the money will get disbursed within 24 hours from your application period.


Most instant cash loan providers in the Philippines even claim that the loan application process only takes minutes—you can get a fast loan in 15 minutes, or at least expect to receive your online loans the same day! 


This is because fast cash lending doesn’t entail stringent requirements or background checks, unlike other lending institutions like banks. Most of the time, you simply need to submit one valid ID and a payslip, and you’re good to go.


As such, lending companies don’t take long to send the money through cash transfer to any valid bank account or e-payment account (e.g., GCash or PayMaya). As you can see, for those who need cash fast in the Philippines, this is a viable and easy option.


Why Apply for a Quick Loan?

With a low maximum loan amount and high interest fees to cap it off, it might seem counterintuitive to apply for fast loans online. However, these kinds of loans are specifically targeted for emergencies, where there is an urgent need to supply some money but nowhere to get it from.


When your income is budgeted from paycheck to paycheck, it can be tough to have extra money for unexpected occasions. This is where fast cash loans come in. They’re usually used in cases of:


  • Sudden hospitalization or medication for oneself or a family member, when the money at hand isn’t enough to pay for all of the expenses
  • 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 that exceed budget or cost estimates
  • Other emergencies or unexpected situations

Although quick cash loans have high-interest rates, they can be paid overtime, which won’t require the lender to shell out too much from their pocket. This is why people turn to them in times of need.  


When not to Take a Fast Loan Online

With the ease and convenience they provide, applying for a fast cash loan can be a very tempting and interesting prospect. However, this is not a decision you can make lightly. After all, just because a quick loan online is available doesn’t mean you’ll have to take one and take advantage of it. Here are some cases when it’s not a good idea to take out a quick cash loan online:


There’s no urgent need

If you don’t have any urgent need for an instant cash loan, don’t apply for it. Although the idea of having a lump sum of money can be appealing, remember that you’ll be spending a lot more by paying the fast cash loan plus interest over the course of a few months.


A fast loan online also requires commitment, which means you have to pay the money monthly. So if you take out a quick loan online and spend the money right away for luxury or entertainment, and later become unable to pay off the loan, you might even find yourself faced with other consequences.


Therefore, if there’s no need to take a loan or there are other options – e.g., borrowing money from friends or relatives – then exhaust those alternatives first.


You’re loaning to pay off other loans

People go bankrupt and riddled with debt when they take out loans to pay for existing loans. For instance, using an easy cash loan to pay off another personal loan is a huge red flag. Likewise, if you took out a home loan, but are also taking out a fast cash loan to pay off your monthly amortization, you’ll find yourself drowning from the sheer interest and extra debt you’ll accumulate. 

Why, you ask? 


All sorts of loans charge interest. So if you applied for a quick cash loan online to acquire money to pay off a loan, you’re at risk of having to pay more and more money due to compounding interest rates. After all, your loans have to be paid monthly—using loaned money to pay off a loan will simply cause you to shell out more money in the long run. Considering that fast cash loans charge rates of more than 10% per month – This will end up putting a bigger hole in your pocket and might cause you to be unable to pay off your initial loan the following month.


You’re loaning to pay for regular bills

Getting a loan to pay your credit card dues is also another common occurrence that will cause you problems in the future. This is also the case for any recurring bill you will be paying off using a loan.


You receive your bills monthly; therefore, you should already know how much money to set aside to fully cover all of your bills and utilities. This is something you carefully plan for, not something you can simply loan money for. Getting quick cash loans online isn’t the answer, since loans will add to your monthly expenses. 


Online Lending vs Traditional Bank Loans

Almost all instant cash loans operate via lending money online, as acquiring a quick loan online has increasingly gained traction in a digitizing Philippines. If you’re not sure if you should get a loan from traditional banks or online lending services, here’s a quick guide to get you started. Let’s weigh the pros and cons for each one.

Online lending platforms



  • Easy, hassle-free application process
  • Fast approval rate
  • Less stringent requirements
  • Can be done completely online 
  • Short-term loans (usually 1-year max) for small amounts




  • Higher interest rates compared to banks 
  • The maximum loan amount possible is way smaller than bank loans
  • Not as secure as banks, which are regulated strictly by different authorities
  • Risk of data being stolen or hacked due to online application process

Traditional bank loans



  • Allows borrowing of larger amounts
  • Lower interest rates, payable over a longer period
  • Regulated strictly by PDIC and BSP, hence more secure




  • Stringent requirements and approval process
  • It May take longer for loans to be processed and approved
  • Requires paperwork; cannot be done completely online
  • Even short-term loans at smaller amounts take time to get approved

As you can see, bank loans and fast cash loans both have their merits and disadvantages. Depending on your circumstances, the urgency of your needs, and your capacity to pay, you’ll be able to find the best kind of loan for you.


Where to Get Quick Loans

There are a lot of ways and financing institutions for you to get quick loans from! In fact, some banks offer quick loans too—though they might need a longer approval period, still, compared to other online lending services, and will require you to have an existing account with them. 


In terms of online lending providers, Home Credit certainly is the most famous financing institution for quick loans. Unlike usual online providers which only offer up to Php 20,000, Home Credit offers loans of up to Php 50,000 for cash and product loans; and up to Php 150,000, depending on your reasons for loaning, as well as your income and credit history with them.


Other online lending providers are a great option if you don’t need that much cash—Online Loans Pilipinas, Moneycat, and Robocash are a few examples of online lending providers that offer fast cash loan approval and other services. These financing institutions are readily available online, and some even have a physical presence in other areas.


There are of course other online lending providers that abound in the market—if you’re looking to get quick loans from them, it’s best to ensure that they are registered with the Securities and Exchange Commission (SEC) as proof of their reliability as an institution.


If you’re registered with a bank, it’s also a good idea to check out if they offer quick 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 loans transaction. 


How to Apply for a Quick Cash Loan in the Philippines

If you’ve fully decided to avail of a quick cash loan, you’re in the right place. We’ll be giving you a general overview of everything you will be needing to proceed with a successful application with your chosen financing institution.


Eligibility & Requirements

Both online lenders and banks alike share primary eligibility criteria for people applying for them. Generally, here’s what they look for in their applicants:


  • Must be a Filipino citizen at least 21 years old
  • Must currently be residing in the Philippines (there are usually separate loans for OFWs and/or seafarers)
  • Must have been residing 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 a year already to ensure the stability of the source of income 
  • If employed, must have a minimum net monthly income of at least Php 6,000
  • Must have a valid email address and a bank account where the money will be deposited to


If you meet all of these eligibility criteria, congratulations! You can now proceed to try and apply for a quick loan. However, applying for easy cash loans in the Philippines also merits separate requirements. In general, here are the documents you will need to prepare for application:

  • 1 or 2 valid government-issued IDs
  • Working email address and contact number
  • Company ID and/or payslip
  • Proof of billing (for more stringent online lenders)


Once you’ve prepared all of the abovementioned requirements, you’ll be able to start your first quick loans application online.


Application Process

So, how exactly does applying for fast cash loans work? Here’s a guide on what to expect, and how to get started:


  1. Check out your options
    It’s essential to be discerning regarding the lender you will be choosing. Online lenders differ in many aspects—required documents, eligibility criteria, maximum and minimum loan amount, interest rates, processing time, and payout options.

    1. Make sure to compare your top choices in these criteria and choose which one works for you the best.
    2. If you need the money ASAP, choose a trusted lender with a quick approval time—preferably those that claim to deposit the money within 30 minutes or less. You may expect this to come with higher interest rates, though.
    3. If you have some time before you need the money, you can opt for lenders that do same-day processing and have lower interest rates.
  2. Prepare the requirements you need
    Once you’re sure about which lender you’re going with, prepare all of the documents and requirements you will need before filling in your application. This ensures that you are ready to finish the application process seamlessly as possible.
  3. Go to the official page or official app of your chosen lender
    Most online lenders typically have an official app for their services, either in Google Play Store or the Apple Store. If you are more comfortable finishing the application using your phone, you can opt for this. If not, you can check their official web page and fill in the application there.
    Remember: Transact only with the official webpage of your chosen lender! Do not try to arrange for your application via Facebook or other channels. This helps secure your application and your personal information.
  4. Answer the application form
    Once you’re on the right page, answer their application form as honestly and as comprehensively as possible. Before directing you to the form, some lenders will ask for your loan amount, email address, and contact number. Others will ask for this information in the application form itself.

    1. The critical fields you have to include are: contact information (mobile number and email), government-issued ID, and bank account details.
    2. Most lenders call prequalified applicants after screening their application, so make sure that the contact number you provide is accurate and complete.
    3. Your government ID is also how they will determine the validity of your application, so be careful in filling this out.
    4. The bank account details you enter will also be where they deposit your payment, so triple-check this! Your bank account details must be correct—otherwise, you may not receive your loan!
  5. Wait for confirmation
    Once you’re done answering the form, you’re all set! Just submit it and wait for them to contact you. They might call you to clarify some of the information on the form or discuss the loan terms with you. Make sure to check your phone, so you don’t miss their call!


Payment Process

Once your loan is approved, you will also be instructed on how and when to pay for each installment. Don’t miss these dates, as late payment is subject to additional fees! You don’t want to pay more than you have to.

Most online lenders allow loan repayment through various channels. This is also worth checking out since it’s best to apply for a financing institution whose payment methods are accessible to you. 


Repayment channels often include the following:


  • GCash and other e-wallet options
  • Online Banking (via Dragon Pay)
  • ATM Banking
  • Over-the-Counter payment
  • Payment Centers (for example Cebuana Lhuillier, Western Union, Palawan Pawnshop, Bayad Center, SM Payment Center, etc.)


Frequently asked questions

Can I get a quick loan despite a bad credit?

One of the best things about getting a fast cash loan is the fact that it doesn’t have stringent requirements. Most online lending institutions don’t look at your credit history before giving you a quick loan.


Hence, you can borrow an easy cash loan despite your bad credit. Normally, all that they would require is a valid ID, and perhaps a payslip or a recent utility bill under your name.

Are quick loans secured?

Quick loans are not secured loans. They don’t require collateral for you to have your loan approved.


However, in exchange for this, expect that you will be faced with higher interest rates for your instant loan.

How quickly can I get a fast cash loan?

Fast cash loans are characterized by the speed by which they approve loans and disburse payments.


Depending on the institution you’re loaning from, you can expect a fast cash loan to be deposited to your account anywhere from 15 minutes to 24 hours after application.


Especially quick online loans can call you regarding your loan a few minutes after you submit your online application form, and then give you your fast cash loan in 15 minutes.


For some others, screening your application will take a few hours. But, once you receive the call and confirmation of your loan, you should be able to receive it after a few minutes.

How much can I borrow?

Because online loans aren’t secure, don’t expect to receive a huge amount of money from them.


Fast cash loans normally offer a maximum loan amount of Php 20,000, and a minimum borrowing amount of Php 1,000. Some institutions also offer a lower maximum loan amount for first-time borrowers. However, once you borrow again from the same lender, you can expect the maximum amount to be increased to Php 20,000.


A few chosen institutions offer loans as high as Php 50,000, but they aren’t very common.

Is it possible to cancel a quick loan?

Once you submit your application for a quick loan, you might get worried that you won’t be able to cancel anymore. But, not to worry!


Before the money gets deposited into your account, loan companies will call your number to confirm a few details regarding your loan. If your application is approved, they’ll also give you the terms and conditions of the loan you’re getting. They might even send a contract for said terms and conditions.


If you have changed your mind, or don’t agree with any of the terms they’re giving, you have the right to say no and effectively cancel your loan application.

Can I get an instant loan without submitting documents?

One of the best things about instant cash loans is the fact that they don’t require paperwork and other documents from potential applicants. Therefore, it’s perfectly possible to get an instant loan without submitting complicated documents.


However, do note that proof of your identification (e.g., valid ID) will still be required when you apply. Additionally, you’ll have to answer an application form to proceed with your application. Some lending institutions will also require one additional document—your payslip, or a recent utility bill paid under your name.

Final Words

Availing loans isn’t a bad thing, especially when it’s a need! However, remember that the main purpose of quick loans is for use during emergencies, and not for your recreational use alone. As long as you responsibly practice loaning, and you borrow from credible, reliable sources, occasionally availing instant loans shouldn’t be a problem!


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

Share this article:


Quick cash loan in cagayan de oro city

Quick Cash Loan in Cagayan De Oro City Aside from…


April 03, 2022 / 2 minutes

Quick emergency cash loans unemployed philippines

Quick Emergency Cash Loans Unemployed in the Philippines The unemployment…


March 02, 2022 / 2 minutes

Union Bank Quick Loan Interest Rate

Union Bank Quick Loan Interest Rate UnionBank Quick Loan Interest…


January 25, 2022 / 3 minutes

Quick Loan in Mandaluyong

Quick Loan in Mandaluyong Mandaluyong City is one of the…


January 25, 2022 / 3 minutes

UnionBank Quick Loan Review

UnionBank Quick Loan Review UnionBank of the Philippines has been…


January 18, 2022 / 1 minute

Quick Cash Loan Alabang

Quick Cash Loan Alabang With its handsome buildings, urban centers,…


January 17, 2022 / 4 minutes

Best Quick Cash Loan Philippines

Best Quick Cash Loan Philippines Obtaining cash for your personal…


January 13, 2022 / 3 minutes

Union Bank Quick Loan Code

UnionBank Quick Loan Code Banks across the globe provide online…


January 11, 2022 / 2 minutes

Quick Cash Loans Without Bank Account In The Philippines

Quick Cash Loans Without Bank Account In The Philippines According…


January 02, 2022 / 5 minutes

Quick Loan in Cebu City

Quick Loan In Cebu City Recently, Super Typhoon Rai locally…


January 02, 2022 / 3 minutes

Quick Cash Loan Davao

Quick Cash Loan Davao Davao region is a major province…


January 02, 2022 / 4 minutes

Money Tree Quick Loan

Money Tree Quick Loan Filipinos, regardless of age, gender, or…


December 29, 2021 / 1 minute

How to Pay UnionBank Quick Loan

How to Pay UnionBank Quick Loan UnionBank, also known as…


December 28, 2021 / 3 minutes

Quick Cash Loan Union Bank

Quick Cash Loan Union Bank Quick cash loans provide a…


December 28, 2021 / 2 minutes

UnionBank Quick Loan Requirements

UnionBank Quick Loan Requirements Where most banks typically only offer…


December 28, 2021 / 2 minutes

UnionBank Quick Salary Loan

UnionBank Quick Salary Loan Adulting and getting a job could…


December 26, 2021 / 3 minutes

GlobeWest Quick Loan

GlobeWest Quick Loan Five out of 10 Filipinos obtain credit…


December 26, 2021 / 2 minutes

Quick Cash Loan in Pasig City

Quick Cash Loan in Pasig City According to the 2020…


December 26, 2021 / 3 minutes

Quick Cash Loan in Las Piñas

Quick Cash Loan in Las Piñas Las Piñas City is…


December 26, 2021 / 4 minutes

M Lhuillier Quick Cash Loan

M Lhuillier Quick Cash Loan M Lhuillier provides Filipinos access…


December 15, 2021 / 1 minute

Quick Loan Providers in the Philippines

Quick Loan Providers in the Philippines A quick loan is…


December 15, 2021 / 2 minutes

Quick Cash Loans in Pampanga

Quick Cash Loans Pampanga Pampanga is considered one of the…


December 15, 2021 / 3 minutes

PSBank: Quick Loan Inquiry

PSBank: Quick Loan Inquiry PSBank is just one of a…


December 15, 2021 / 2 minutes