TOP 5 Loan Apps Online in Philippines
TOP 5 Loan Apps Online in Philippines – why 5, because these amount of apps will be enough, so you could choose at least one to solve your financial problems. Sure loan will not solve your all finance problems, but timely can help. It is possible only when you understand all terms and know how and when will be able to repay loan. If not – better never apply loans.
Online loans are becoming increasingly popular among Filipinos who can apply for a loan in a few clicks through a smartphone app. In the App Store, GooglePlay, AppGallery you can find a lot of mobile applications through which you can apply for a payday loan.
The main point here is the possibility of trust for cooperation with one or another credit service, because it is known that there are many scam projects on the market that are not worth attention and pose a threat to your personal data.
Also, no less important option are the terms under which you can apply for a loan through a mobile application in the Philippines. Online salary loans are not as reliable as bank loans, but on the other hand there are fewer requirements for them, so they can be issued quickly and easily – the main thing is that you are satisfied with the conditions.
Here is a list of the TOP 5 loan apps online in the Philippines with which every adult Filipino can apply for a loan if he / she really needs it. In these companies, your personal data will be protected.
Digido Philippines App
Digido PH – it is an international Fintech group. It is present in Vietnam, Indonesia, Russia, Spain, India, Kazakhstan and Philippines. This company has great international experience, so one’s systems are reliable and your personal information will be in safe. Digido app can be also a good alternative to other lenders. Just check terms, especially for those who will apply for the 1st time. You can get your loan with the minimal interest rate 0,01% per day! Check terms lower:
| Loan Amount (1st loan) | up to PHP 10000 |
| Interest rate | 0,01% per day |
| Period | 90 – 180 days |
| Loan Amount (repeated loan) | up to PHP 25000 |
| Interest rate | 11,9% per month or max APR: 143% |
| Late fee | – |
| Repay loan | 7-Eleven, RFC brances, Dragonpay, etc |
| SEC # Certificate of Authority No. | CS201730459; 1150 |
Digido app is enough interesting, so you can use it or apply for the loan with Digido website, it is also possible. Just check, please before applying one more time terms, cause they can be changed with the time. Also, check if you will be able to repay loan in time, so you were able to avoid late fee, etc. Digido app is new to the Philippines market, but terms bring one to the TOP 5 Loan Apps among non-bank financial lending apps.
My Home Credit App
Home Credit's basic non-cash loan offers in-store financing options for appliance or gadget purchases, and it's gaining popularity throughout the nation. Also, My Home Credit app provides access to a cash loan, which is quite easy to get in the Philippines online. Through the mobile app, borrowers need to simply upload to valid IDs to get the loan proceeds.
Interest rate: 2.5% to 5.5% monthly interest rate (depends on loan amount) | Loan Amount: Php 3, 000 – Php 150, 000 (Higher loan limit becomes available as you pay on time through the app) | Tenure: 3 to 30 months | Speed: 1 minute to 1-hour approval; get cash as fast as 5 minutes | Fees: ₱500 processing fee. Late penalties may apply.
Recommendation: Best option for people who are searching for an online loan app that has long-term high-value loans.
Cashalo
Cashalo is now one of the top lending applications used to pay by installments for shopping purchases, and it has over a thousand partner locations countrywide. So, if you don't have a bank account or credit card, this is a fantastic option.
Cashalo is more than just a pay later app for instant purchases. If you need money for anything other than shopping, you may get a cash loan using their app.
Interest rates: 0% to 5.99% per month | Loan Amount: Php 1, 000 – Php 12, 000 (Higher loan limit becomes available as you pay on time through the app) | Tenure: 3 to 8 months | Speed: Less than 24 hours | Fees: 0% to 10% processing fee. Late penalties may apply.
Recommendation: Best fit for people who are looking for installment shopping loans in the Philippines.
Tala Philippines App
Tala PH – it is mobile application with a help of which you can apply loan in 5 minutes. Money will be credited to your e-wallet or bank account. Tala Loan App helps manage your loan story 24/7. To apply loan with Tala application you need 1 major ID, so company could identify the client.
| Loan Amount | PHP 1000 – PHP 15000 |
| Period | up to 120 days |
| Service fee | 11% – 17% depending the period and sum |
| Interest rate | 12% – 18% per month |
| Late fee | 8% |
| Repay loan | 7-Eleven, Cebuana Lhuillier, Coins PH, etc |
| SEC # TIN Certificate of Authority No. | CS201710582; 009-614-758; 1132 |
It is very secured and reliable loan application in the Philippines. Very user-friendly and with competitive terms for appliers. Is Tala in the list of TOP 5 Loan Apps – for sure.
Moneycat Philippines App
Moneycat Philippines provides loans online fast, easy, with 0,01% interest rate for the 1st loan. So, if you are from 20 – 60 years old, Moneycat PH app can support your finance activities and give you salary loan you need.
| Loan Amount | PHP 1000 – PHP 25000 |
| Period | 90 – 180 days |
| Service fee | – |
| Interest rate | 200% per year |
| Late fee | – |
| Repay loan | 7-Eleven, LBC, ECPay, etc |
| SEC # Certificate of Authority No. | CS201953073; 1254 |
Moneycat Philippines mobile application is enough popular and new for Filipinos at the same time. The review score in Google Play is 3,7 among more than 2,5k users’ ratings. You can try it, if you need, but obviously check all terms loan service asks.