Fast Emergency Loans Online Philippines (2024)

In times of financial crisis, finding the best emergency loans online in the Philippines is crucial. We understand that life can throw unexpected curveballs, and you may need quick access to cash to tide you over during challenging times. CashExpress PH is here to help you navigate the world of emergency loans, providing insights into the top 10 legitimate services, interest rates, and the application process.

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Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in May 2024 

Rank Lender Name & Application Link Loan Amount Loan Term Interest Rate Repayment ID Required Age Range Special Feature
#1

SOSCREDIT
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₱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
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₱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
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₱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
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₱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
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₱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
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₱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
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₱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
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₱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
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₱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
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₱500 – ₱20,000 7 – 180 days 0% for first loan End of term Only ID Card required 22 – 65 Easy loan approval

Summary of Emergency Loans Online Philippines

Article Fast Emergency Loans Online Philippines 2024
Loan Amount From 1,000 PHP to 70,000 PHP
Eligible Locations Philippines
Age Requirement 18 to 70 years old
Loan Term 1 to 36 months
Account Requirement No need for a bank account
Pros Fast approval process
Cons High-interest rates on some emergency loans
Effectiveness Generally good
Bad Credit Check Not always required

What Are Emergency Loans Online Philippines?

Emergency loans online Philippines provide a lifeline for those in need of fast, accessible cash during unforeseen financial crises. These loans can be applied for through websites or mobile applications without the need to provide proof of income. It’s essential to use this service only when necessary and when you can repay the loan on time.

Advantages of Quick Emergency loans

Emergency loans online in the Philippines offer several advantages:

  • Quick and straightforward online application and approval process.
  • Accessible from anywhere with an internet connection, with funds typically disbursed within hours or a day.
  • No collateral, income proof, guarantor, or appraisal required.
  • Options available for individuals with poor credit histories.
  • Automated application and approval process, saving time and reducing complexity.
  • Flexible loan amounts and repayment terms to meet individual needs.
  • High-security standards to protect personal information.

Drawbacks of Emergency Loans

While emergency loans offer numerous benefits, there are also some drawbacks to consider:

  • Interest rates on online emergency loans are generally higher than traditional loans.
  • Some services may apply additional fees, such as processing and late fees.
  • Swift approval and access to funds can lead to poor financial management.

Criteria for Choosing Emergency Loans Online Philippines

When selecting an emergency loan in the Philippines, consider the following criteria:

  • Evaluate the simplicity and speed of the application and approval process.
  • Compare interest rates and choose a service with the most favorable terms.
  • Thoroughly understand all fees and conditions before signing a contract.
  • Select a loan term that aligns with your financial capacity and goals.
  • Research and verify the reputation of the service provider, avoiding unregulated or unknown entities.
  • Ensure you have the means to repay the loan on time without harming your finances.

Emergency Loan GCash Interest Rate

The interest rate for an emergency loan depends on various factors, including the lender’s policies, the borrower’s credit score and financial situation, loan limits, and terms. The average annual percentage rate (APR) typically ranges from 143% to a maximum of 180%.

For example, if you borrow 12,000 pesos for four months at an interest rate of 11.9% per month, the interest payable in one month would be 1,428 pesos. The principal amount payable in one month is 3,000 pesos, resulting in a total monthly payment of 4,428 pesos.

Emergency Payday Loans in the Philippines Requirements

To apply for emergency loans online in the Philippines, borrowers must meet certain general conditions:

  • Be Filipino citizens between the ages of 18 and 70.
  • Possess a valid phone number.
  • Hold a government-issued ID.
  • Have a bank account or e-wallet.

Credit Line and Term of OFW Emergency Loans

The credit limit and term for online emergency loans can vary based on the lending institution and the borrower’s needs.

  • Credit Line: The limit is typically determined by the lender based on the borrower’s financial situation, credit history, and other factors, ranging from 1,000 to 5,000 pesos.
  • Term: Emergency payday loans in the Philippines are typically short-term, lasting from weeks to months, with some lenders allowing borrowers to choose a repayment term that suits their financial needs.

Comparison of Emergency Loan Providers

Here is a comparison of different emergency loan providers in the Philippines:

  • Crezu App: Loan limits of 1,000 to 25,000 pesos, interest rates between 1% and 3% per month, term of 2 to 4 months, available for those aged 18 to 70.
  • Soscredit: Loan limits of 1,000 to 25,000 pesos, interest rates of 12% per month, term of 3 to 12 months, available for those aged 20 to 70.
  • Lendpinoy: Loan limits of 1,000 to 25,000 pesos, interest rates between 1% and 3% per month, term of 2 to 4 months, available for those aged 18 to 70.

(Source: bsp.gov.ph reporting and research)

Instructions on How to Apply for Emergency Loans Online Philippines

The application process for emergency loans in the Philippines involves several steps:

  • Step #1: Choose a loan service based on interest rates, limits, and terms.
  • Step #2: Register an account on the loan service’s website or app.
  • Step #3: Provide personal and financial information as required.
  • Step #4: Verify your identity with a photo of your ID.
  • Step #5: Select the loan amount and term.
  • Step #6: Await automatic approval and receive the disbursed funds in your bank account.

Top 5+ Best Emergency Loans Philippines for Bad Credit 2024

 
Online Loan
Interests
Loan Amount
Loan Term
Borrower Age
SEC License
APR 143%
₱1,000 - ₱25,000
from 3 to 6 months
21 -  70 years
SEC Registration No. 202003056. Certificate of Authority No. 1272
APR 145%
₱500 - ₱20,000
from 3 to 6 months
22+ years
Certificate of Authority To Operate Number: 1254
from 0%
₱1,000 - ₱20,000
from 10 days
22 - 70 years
Registration № CS201726430, CA №1181
0.16% per day
₱500 - ₱25,000
from 2 to 6 months
20 - 55 years
SEC Registration No. CS201918702. Certificate of Authority No. 3169, NPC Registration No. PIC-001-791-2021
APR 84%
₱5,000 - ₱50,000
from 6 to 24 months
18+ years
APR 365%
₱1,000 - ₱20,000
7 or 14 days
18+ years
Company Registration No. CS201951088 and Certificate of Authority No. 2918
₱5,000 - ₱25,000
from 6 to 12 months
18 - 68 years
Reg No. CS201602333
APR 143%
₱1,000 - ₱20,000
22 - 70 years
Registration № CS201804564
APR from 0% to 427%
₱500 - ₱25,000
from 3 to 12 months
18+ years
Latvian business number 43603085405
APR from 4% to 916%
₱1,000 - ₱25,000
from 3 to 12 months
18+ years
from 0%
₱1,000 - ₱50,000
up to 12 months
20 - 65 years
SEC Registration No. CS201908275 SEC Certificate of Authority No. 2990
APR from 30% to 365%
₱500 - ₱25,000
from 91 days to 2 years
18+ years
from 0%
₱1,000 - ₱25,000
18 - 70 years
registration number: 14523902
from 0%
₱1,000 - ₱25,000
18+ years
registration number: 14523902
APR from 4% to 916%
₱1,000 - ₱25,000
from 30 days
18+ years
1.3% per day
₱1,000 - ₱30,000
from 30 days
20 - 65 years
CS20200000915
APR from 0% to 427%
₱500 - ₱25,000
from 3 to 12 months
18+ years
43603085405
APR 180%
₱1,000 - ₱25,000
from 3 to 12 months
20+ years
APR up to 180%
₱1,000 - ₱25,000
from 3 to 12 months
20+ years
  1. Cash-Express – Emergency Cash Loan Philippines
    • Loan limits: 1,000 to 20,000 pesos
    • Payment period: 7 to 14 days
    • First loan is interest-free
    • Interest rates: 1% to 1.99% per day
    • Eligibility: Filipino citizens aged 21 to 70 with a valid ID and a bank account or e-wallet.
    • Address: Level 10-1 One Global Place 25th Street Cor. 5th Avenue, Fort Bonifacio, Taguig City, Philippines
    • Pros: Quick approval (5 to 15 minutes), loan extension option, simple process, interest-free first loan
    • Cons: Short loan term, high daily interest rates
    • Overall score: 8/10
  2. Soscredit – Emergency Loan 3000 PHP
    • Loan limits: 1,000 to 25,000 pesos
    • Payment term: 3 to 12 months
    • APR: 143% to 180% per year
    • First loan for new customers: Up to 7,000 pesos with no interest or service fees
    • Eligibility: Filipino citizens aged 20 or older
    • Address: Latvia, Saldus, Liela iela 9, LV-3801, Philippines
    • Pros: Quick loan approval (15 minutes), flexible monthly payments, option for additional loans
    • Cons: High interest rates
    • Overall score: 8/10
  3. Crezu – Best Emergency Loan Philippines for Bad Credit
    • Loan limits: 1,000 to 25,000 pesos
    • Repayment periods: 61 days to 120 days
    • Interest rates: 12% to 36% per year, no service fees
    • Eligibility: Filipino citizens aged 18 to 70 with an email, phone number, and personal ID
    • Address: Tartu 52/1-166, 10115, Tallinn, EE, Philippines
    • Pros: Fast registration (5 minutes), approval in 14 minutes, support for bad credit history, high loan approval rate (94%)
    • Cons: Suggests loans rather than providing direct loan limits, short loan terms
    • Overall score: 7/10
  4. Finloo – Emergency Loan GCash
    • Intermediary service to help borrowers find the best emergency loan GCash
    • Loan limits: 1,000 to 25,000 pesos
    • Payment period: 1 to 5 months
    • Preferential interest rates from 0.01% per month
    • Eligibility: Filipino citizens aged 18 or above with a valid phone number
    • Address: Borshagovka 144, Kyiv 03056, Philippines
    • Pros: 24/7 loan application, quick procedure (2 minutes), fast disbursement (10 to 20 minutes), support for bad credit history
    • Cons: Acts as an intermediary, not a direct lender, short loan terms
    • Overall score: 7/10
  5. Cashspace – Emergency Payday Loans in the Philippines
    • Loan limits: 1,000 to 25,000 pesos
    • Loan term: 61 to 120 days
    • First loan is interest-free
    • Recurring loans have interest rates ranging from 12% to 36% per year
    • Eligibility: Filipino citizens aged 18 to 70 with email, phone number, and personal ID
    • Address: Tartu street 52/1-166, 10115, Tallinn, EE, Philippines
    • Pros: Over 97% loan approval rate, average loan approval time of 15 minutes, 24/7 support, acceptance of bad credit history
    • Cons: Short loan term
    • Overall score: 7/10

Expert’s Opinion About Emergency Cash Loan Philippines

Economists John Maynard Keynes and Daniel Kahneman offer valuable insights:

  • According to John Maynard Keynes, emergency loans can be a useful tool in crisis situations but should be used cautiously to avoid financial trouble.
  • Mr. Daniel Kahneman warns about high-interest rates on emergency loans, which can significantly increase the total amount to be repaid.

FAQs – Emergency Loans Online Philippines

Is emergency loan in GSIS still available?

GSIS (Government Service Insurance System) offers emergency loans to its members during natural calamities and disasters. Borrowers can repay these loans over a maximum period of 36 months with an average interest rate of 6% per year. A GSIS eCard/UMID card is required.

Where can I get emergency loans?

Customers can apply for emergency cash loans in the Philippines online through websites or mobile applications, offering a straightforward process, 24/7 support, automatic approval, and direct disbursement to their bank account or e-wallet.

Conclusion

Cash-Express and Soscredit are two reputable and trusted emergency loans online Philippines services. They provide legally operated loans with limits of up to 25,000 pesos, along with incentives for first-time borrowers and super-fast approval and disbursement times. Please rate this article if you found the information helpful, and feel free to leave any questions in the comments for a prompt response. In times of financial emergencies, having access to the right information is crucial to making informed decisions.

Disclaimer: This article is based on the information available to the author at the time of publication and is intended for promotional, reference, and educational purposes only. The content on this website is not meant to provide legal or financial advice, and readers are strongly encouraged to consult with legal and financial professionals.

Additionally, any rates or offers featured on this website are purely promotional marketing offers and do not establish a binding contract between the company and its website users. Although the authors and publishers of the articles have made efforts to use credible information available to them at the time of writing, any subsequent changes or updates to the information may not be included in this article.

Therefore, users are advised to exercise due diligence when utilizing the data and information found on this website and are encouraged to cross-reference it with other reputable sources. Users should be aware that neither the writers, publishers, website owner, nor the company can be held responsible for any damages or losses resulting from their improper or mistaken use of the data and information contained in the articles published on this website.

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