Best 5 Loan Apps in the Philippines:

Budget planning is an effective financial tool that allows you to stay afloat even in difficult financial situations. But even competent budget management does not save from force majeure situations requiring certain expenses.

Is the washing machine broken? Did one of your relatives get sick, and now you need to buy a large amount of medicine? Did you get a bargain trip to a country you’ve always dreamed of visiting? It is good if you have money set aside for such cases. But what to do if not? Or is this money simply not enough? In such cases, it is worth mentioning that you can always take a loan online. So in this article, we’ll share with you the best loan apps in the Philippines.

Is It Possible to Take a Credit Urgently in the Philippines?

Banks are focused on obtaining as many documents as possible from the client, confirming his solvency. The same income certificate is not issued so quickly, and if money is needed urgently, it will become a severe obstacle. In addition to documents, banks require guarantors from the borrower who will be responsible to them for fulfilling your obligations. 

There is another option: apply for a loan at a lending company. In the Philippines, there are a large number of companies that have unique applications in which you can quickly apply for a loan. In this way, a person significantly shortens the required amount’s registration time and receives it almost instantly.

Reasons For the Popularity of Online Loans

To get a bank loan, you should spend almost the whole day on this issue – hundreds of thousands of people need money daily. There are always queues and noise in banks. Loans from lending companies from applications involve online processing — you don’t need to leave your home.

The lending company does not do this if the bank requires an income certificate and guarantors. They even work with clients who have a bad credit history. When applying for an online loan in one of the services, you will save yourself from unnecessary nerves and obligations, receiving money in 15 minutes. Usually, a person wants to get cash as quickly as possible. He has a difficult life situation and does not desire to spend his energy doing it another way.

Advantages of Online Loans in the Philippines

Choosing an online loan from lending organizations, you can count on:

  • Efficiency. Apply day or night, weekdays or holidays. It will take you a few minutes to fill out the questionnaire. If the application is approved (which happens in 90% of cases), the money will go to your card instantly;
  • Comfort. There is no need to go to the office, prepare many references – answer the questions indicated on the website in the questionnaire, provide a photo or scan of the document, and determine the required loan amount. Thanks to the loan calculator, you will be able to immediately see what amount you will have to overpay for which term – as interest;
  • Loyalty to borrowers. Not only borrowers with an official income and an impeccable credit history can count on a loan online 24 hours a day. Companies issue loans to those who work for themselves without officially receiving payment and those who have defaulted on loans in the past. 

Most finance organizations set very loyal requirements for potential borrowers: they are at least 21 years old, have Filipino citizenship, and have a residence permit. Moreover, you need to provide an ID card. You only have to download the app to get a loan.

5 Best Loan Apps in the Philippines

1. Digido App

One of the most sought-after options is a loan application, Digido. All Filipino citizens have access to the Digido APK. You may obtain a rapid loan using only your cell phone and the Internet by downloading the Digido Philippines free. This software has a 4.5 overall user rating and is available for iOS and Android.

Those who want quick cash that may be supplied on the app might choose the Digido Philippines Loan App. The business provides a loan with a high acceptance rate and an uncomplicated application process.

Regular customers can anticipate a credit limit of Php25,000, while new users might anticipate a limit of Php10,000. Digido Philippines charges an application fee of 11.9% each month for three months.

2. Moneycat App

A worldwide marketplace for employee loans is called Moneycat. One of the most prominent performers in the financial sector is the company Moneycat Financing Inc. In the Philippines, Moneycat Financing Inc., often known as Moneycat, is an economic operator with official recognition and an excellent app. It indicates that the money and client data are secure. The official Moneycat app is available for free download and usage on Android devices through Google Play. You must enter and look up Money Cat to do this. Users have given the Moneycat app 4.5 stars overall. Just study the terms and conditions thoroughly before applying for a loan to determine whether it would be advantageous.

3. OLP App

Get a particular loan offer for new clients via the OLP application: 0% annual interest and no extra commissions. One of the benefits is that the interest rate ranges from 0% to 180% annually. Other peculiarities of the OLP app:

  • For brand-new and dependable repeat borrowers: 1,000 to 30,000 pesos can be borrowed.
  • The loan length varies depending on the assessment, with a minimum payback period of 90 days and a maximum of 720 days.

The smartphone app is accessible to all users and is available for download.

4. Tala App

Tala is a cutting-edge provider of mobile technology and data science that aims to revolutionize global financial services and credit scoring. To begin applying for loans online, download the app. Register and complete a brief application on the Tala application after downloading the program. It should just take a few minutes to apply. Among the principal benefits:

  • Several choices for debt repayment.
  • Easy-to-use user interface.
  • Active social networks that often update their product offerings.

Tala App is a legit app that provides loans in the Philippines.

5. Unacash App

A digital cash loan application is called UnaCash. Low-interest rates can provide each customer with a convenient and trouble-free experience. Among the application’s key benefits:

  • Low rate of interest.
  • Rapid loan acceptance (within 5 minutes).
  • Loan terms are flexible for up to six months.

A personal credit line with a 1,000–50,000 peso maximum.

Peculiarities of Loans With the Help of Application

Peculiarities of online loans:

  • The loan is issued via the Internet. You save on collecting additional certificates and documents, standing in lines, and going to financial institutions.
  • Borrower identification takes place automatically. The program determines a person’s personality, solvency, employment, and credit history based on the presented data.
  • After verification, the decision to issue credit is made within 10-20 minutes.
  • If the result is positive, you will receive an SMS message on your phone and transfer the requested amount to your bank card.

These are the main stages that will have to be completed. Each company has its nuances in opening a credit line. But usually, the whole process takes about an hour, from applying to transferring funds. Summing up, taking an online loan is a piece of cake when you know what to do and how to avoid fraudsters. Stay alert when you are opting for a loan via the app. This way, you and your money will always be safe. This way, you and your money will always be safe.

This is a Sponsored Post: Advance Loans is a convenient financial aggregator for lending money online for Filipinos and the residents of Sri Lanka. Learn more about the company through this link.

5 Best Loan Apps in the Philippines

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By Ameena Rey-Franc

Recognized as one of the Top Finance Blogs in the PH. Ameena Rey-Franc (founder of TTP) is a former Banker and BS Accountancy graduate turned Blogger, Keynote Speaker, and entrepreneur. Currently an RFP delegate, she is also the Author of a book about Financial Resilience and has held seminars for reputable companies like GrabFoodPH, Pru Life UK, VISA, JPMorgan Chase& Co., Paypal, Fundline, Moneymax, and many more. The Thrifty Pinay's mission is to empower women to LEARN, EARN, and be FINANCIALLY-INDEPENDENT no matter what life stage they are in.