Quick Cash Loans Pampanga

Institutions That Offer Quick Cash Loans in Pampanga

There are many financial institutions in Pampanga that people can apply for a quick cash loan from:

• Banks 
• Lending Companies
• Online Lending Companies
• Pawnshops

Financial Institutions that Provide Quick Cash Loans in Pampanga

Welcome Finance

The Pampanga branch is located at 2/F FF Paras Building, Brgy, Dolores, San Fernando City. It offers collateral and collateral-free loans to Filipinos. It is a subsidiary of Korea’s Welcome Financial Group.  

Personal Loan

Loan Amount: ₱50,000 to ₱1,000,000

Interest Rate: 1.39% to 1.7% per month

Loan Term: 12 months to 36 months

Approval Period: within 24 hours

Radiowealth Finance Company (RFC)

RFC has been in the business of serving Filipinos for over five decades by providing them with their financial needs. Their branch in Pampanga is located at Pistahan Building, MacArthur Highway, Quebiawan, San Fernando City. 

Loan Amount: ₱10,000 to ₱50,000

Interest Rate: 4% – 4.5% per month

Loan Term: 3 months to 12 months

Cebuana Lhuillier

Quick Cash Loans in Pampanga are available through their pawning service which boasts appraisal rates that are 30% higher than other pawn shops. Their branches in Pampanga are available in Angeles City, Apalit, Arayat, Bacolor, Candaba, Floridablanca, Guagua, Lubao, Mabalacat, Macabebe, Magalang, Masantol, Mexico, Minalin, Porac, San Fernando, San Luis, San Simon, Santa Ana, Santa Rita, and Santo Tomas. 

The Annual Percentage Rate (APR) on the loaned amount is between 54% to 66%. 

Items accepted for pawning are the following: 

• Gold, Platinum, and Diamond Jewelry
• Platinum Jewelry and Watches
• Cellphones
• Laptop Computers

Fees and Charges:

• Advance Interest: ₱4 for every ₱100 loan amount
• Service Charge: 1% of the principal loan amount, not to exceed ₱5
• Renewal:
  • Interest Rate in Renewed Pawns: starts at 4%
  • Liquidated Damages: 2%
  • Service Charge: ₱5

Benefits of Quick Cash Loans

Less Requirements

Quick Cash Loans do not require the long list of requirements that typical lending firms impose on borrowers. Most quick cash loans also don’t require collateral or loan co-makers. The borrowers will only have to present proof of income and the approval will depend on their salaries.

Easy Application Process

Borrowers can apply for quick cash loans over the internet as long as they upload the required documents through a smartphone or computer. They don’t have to queue in the branch because they can do it at home and any time of the day.

Fast Disbursement

If the borrowers submit complete documents, the loan application is likely verified and approved within the day. Upon approval, the financing company can release the loan proceeds any time of the day within business hours.

Many Payment Partners

Quick cash loans provide a means for those who are unbanked to also avail of financial services. However, the challenge that they mostly face is how they have to receive the funds if they do not have a bank account. Luckily, quick cash loans have many payment partners and as such, they will be able to deposit the loan proceeds through remittance centers, bayad centers, or other mobile wallets. 

Flexible Loan Repayments

Those approved of a quick cash loan will have different options for making their loan payments, from auto debit arrangements to bank transfers or deposits, payment centers, remittance centers, convenience stores, pawnshops, and other repayment methods. 

Process of Applying for Quick Cash Loans

Most quick cash loan applications in Pampanga and all over the country will only take a few simple and easy steps: filling up an online loan application, submitting it with the complete documents, and getting verified for approval. Then, when approved, sign the loan contract agreement and choose the best disbursement option that is most convenient for you. 

What to Watch Out For When Taking Quick Cash Loans

Only Borrow What You Can Afford To Pay

It is important that you consider your capacity to pay back any amount loaned from financial institutions as this affects your budget and quality of life later on. Ideally, you should not borrow more than 50% of what you are earning. Or in some cases, do not borrow an amount with monthly installments that are more than what is left of your income after paying for your necessities. 

Compare Different Loan Offers

Financial institutions offer different terms of loans. It is always wise to choose the ones that offer less interest and more flexibility on the repayment. 

Check for Hidden Fees

Some financial institutions offer loan products that are too good to be true. Look out for any hidden fees or charges that may not have been communicated to you prior to signing the loan agreement. Oftentimes, these are what make the repayment higher or more expensive. 

Conclusion

There are many loan options available in Pampanga, whether it is offered by banks, non-banking financial institutions, or private lenders. For the borrower to ensure that he or she will be able to afford the loan repayments, it is prudent for the borrower to check the loan terms, interest, fees and other charges attached to the loan amount.