GCash, a popular mobile wallet in the Philippines, offers convenient loan options for its users through two primary services: GLoan and GLoan Sakto. These options allow users to access funds quickly, directly within the app. Here’s a detailed guide to help you understand these loan features and how to make the most of them.
Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in December 2024
| Rank | Lender Name & Application Link | Loan Amount | Loan Term | Interest Rate | Repayment | ID Required | Age Range | Special Feature |
|---|---|---|---|---|---|---|---|---|
| #1 |
SOSCREDIT |
₱1,000 – ₱25,000 | 3 – 12 months | 0% for first loan | Monthly or End of term | Only ID Card required | 20 – 70 | Receive money in 15 mins |
| #2 |
CREDIFY |
₱1,000 – ₱25,000 | 3 – 12 months | 0% for first loan | Monthly or End of term | Only National ID required | 20 – 70 | Receive money in 15 mins |
| #3 |
CREZU |
₱1,000 – ₱25,000 | 2 – 4 months | 0% for first loan | Monthly or End of term | Only ID Card required | 18 – 70 | Easy loan approval |
| #4 |
FINBRO |
₱1,000 – ₱50,000 | 1 – 12 months | 0% for first loan | Monthly or End of term | Only ID Card required | 20 – 65 | Receive money in 10 mins |
| #5 | CREDITIFY Apply Now |
₱1,000 – ₱25,000 | 1 – 180 days | 0.1% | Monthly or End of term | Only ID Card required | All accepted | Approve Bad credit |
| #6 | CASHSPACE Apply Now |
₱1,000 – ₱25,000 | 2 – 4 months | 0% for first loan | Monthly or End of term | Only ID Card required | 18 – 70 | Easy loan approval |
| #7 | DIGIDO Apply Now |
₱1,000 – ₱25,000 | 3 – 6 months | 0% for 7 days | Monthly or End of term | Only ID Card required | 21 – 70 | Receive money in 4 mins |
| #8 | KVIKU Apply Now |
₱500 – ₱25,000 | 60 – 180 days | 1.2% per month | Monthly or End of term | Only ID Card required | 18 – 65 | Receive money in 5 mins |
| #9 | CASHEXPRESS Apply Now |
₱1,000 – ₱20,000 | 7 – 30 days | 0% for first loan | End of term | Only ID Card required | 21 – 70 | Receive money in 5 mins |
| #10 | MONEYCAT Apply Now |
₱500 – ₱20,000 | 7 – 180 days | 0% for first loan | End of term | Only ID Card required | 22 – 65 | Easy loan approval |
What is GLoan?
GLoan is GCash’s main lending service, designed for users who need larger loan amounts and flexible repayment terms. It is an ideal choice for planned expenses such as starting a small business, home improvements, or medical needs.
Key Features of GLoan
- Loan Amounts: Offers higher loan limits compared to other GCash borrowing options.
- Repayment Terms: Customizable terms, making it easier to fit your budget.
- Eligibility: Only available to pre-approved GCash users with a good GScore.
How to Check Eligibility and Apply for GLoan
- Open the GCash App: Log into your account and navigate to the “Borrow” section.
- Check for GLoan: If the GLoan option is visible, this means you are likely pre-approved.
- Apply for GLoan:
- Tap on “GLoan” and follow the step-by-step application instructions.
- Choose the loan amount and repayment term that best suits your needs.
- Review the terms and conditions before confirming your loan application.
What is GLoan Sakto?
GLoan Sakto is a smaller, short-term loan option, perfect for emergency expenses or quick cash needs. Unlike GLoan, it is designed for quick repayment, often within a few weeks.
Key Features of GLoan Sakto
- Loan Amounts: Smaller loan limits, tailored for short-term needs.
- Interest-Free Period: Some loans may be interest-free if repaid promptly.
- Accessibility: Generally available to a wider range of GCash users compared to GLoan.
How to Access and Apply for GLoan Sakto
- Open the GCash App: Log into your account and go to the “Borrow” section.
- Find GLoan Sakto: If the feature is available to you, it will be listed in this section.
- Apply for GLoan Sakto:
- Tap on “GLoan Sakto” and select the amount you need.
- Choose a repayment term that aligns with your financial capacity.
- Confirm your application after reviewing the loan details.
Important Considerations When Borrowing from GCash
Eligibility Requirements
- Your GScore, which reflects your transaction history and GCash usage, plays a critical role in your eligibility.
- Consistent app usage for bills payments, fund transfers, and other transactions can improve your GScore.
Interest Rates and Fees
- GCash loans have varying interest rates and fees depending on your profile and loan amount.
- Always review these details carefully to understand the total cost of borrowing.
Responsible Borrowing
- Borrow only what you can repay comfortably within the agreed term.
- Late payments can incur additional fees and negatively impact your GScore, affecting future loan eligibility.
Tips to Increase Your Chances of Approval
- Build Your GScore:
- Use GCash regularly for transactions like paying bills, shopping online, or sending money.
- Explore features like GInvest to show responsible financial habits.
- Avoid Late Payments: Promptly pay your existing loans to maintain a good credit record.
- Start Small: If you’re new to GCash loans, begin with smaller amounts to establish trust and improve your GScore.
What If You’re Not Eligible for a GCash Loan?
If you don’t qualify for a GCash loan, consider these alternatives:
- Online Lenders: Explore other reputable lending platforms.
- Bank Loans: Check for small personal loans with competitive rates.
- Personal Networks: Borrowing from family or friends can be a viable, interest-free option in emergencies.
By understanding and utilizing GLoan and GLoan Sakto effectively, you can make the most of GCash’s financial tools while maintaining healthy borrowing habits. Always prioritize financial responsibility to ensure a seamless loan experience and better access to future opportunities!