Top 10+ Best Online Lending Companies in the Philippines Without Collateral (2024)

In our rapidly changing world, unforeseen financial crises can emerge at any moment. The ability to access swift, collateral-free loans can make all the difference. The Philippines has witnessed a proliferation of online lending firms, offering convenient, short-term loans to individuals facing financial challenges. These loans boast a streamlined application process and minimal documentation requirements, rendering them a favored choice among Filipinos.

Don’t overlook:

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

In this article, we will delve into the top 10+ online lending companies in the Philippines for 2024, all without the necessity of collateral. Whether you find yourself in need of funds for a medical emergency, educational pursuits, or any other purpose, we’ve got your back.

Summary of Lending Companies in the Philippines

When it comes to online lending in the Philippines, borrowers can expect a range of options. Here’s a quick summary of what you can expect from these lenders:

  • Loan Amount: You can borrow anywhere from 1,000 to 60,000 pesos.
  • Eligibility: Typically, applicants should be between 18 and 60 years old.
  • Loan Terms: Loan terms vary from 1 to 12 months.
  • Interest Rate: Many lenders offer 0% interest for first-time borrowers.
  • Pros: Quick loans without collateral, legal registration, and a reputable presence.
  • Cons: Some lenders may charge service fees.
  • Effectiveness: Overall, the effectiveness of these lenders is rated as pretty good, and they often allow for bad debt.

What Are Lending Companies in the Philippines?

Lending companies in the Philippines are entities that offer short-term loans through online platforms. These platforms streamline the application process, allowing borrowers to access funds rapidly, often with just one valid ID as documentation.

Top 5+ Registered Legit Online Lending Companies in the Philippines 2024

Let’s delve into the top 5+ registered lending companies in the Philippines for 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

Digido – Best Lending Company in the Philippines 2024

  • Loan Range: 1,000 to 25,000 pesos
  • Term: 3 to 6 months
  • Interest Rate: 11.9% per month
  • Pros: Online registration 24/7, fast disbursement, no financial proof required
  • Cons: High-interest rate

Finbro – One of the Lending Companies in the Philippines 24/7

  • Loan Range: 1,000 to 50,000 pesos
  • Term: 7 to 30 days
  • Interest Rate: 0.16% per day
  • Pros: High limit, reasonable interest rate, fast approval
  • Cons: Short term

LoanOnline – Top Lending Companies in the Philippines without Collateral

  • Loan Range: 500 to 25,000 pesos
  • Term: 3 to 12 months
  • Interest Rate: 0% to 427%
  • Pros: Online application, simple procedure, fast loan suggestion
  • Cons: High loan interest rates

Soscredit – Philippine Lending Company with Quick Disbursement

  • Loan Range: 1,000 to 25,000 pesos
  • Term: 3 to 12 months
  • Interest Rate: Up to 143%
  • Pros: Fast disbursement, flexible payment, high approval rate
  • Cons: High-interest rate

CashXpress – A Reputable Financial Company in the Philippines

  • Loan Range: 1,000 to 20,000 pesos
  • Term: 14 days
  • Interest Rate: 1.99% per day
  • Pros: Easy registration, quick approval, extendable payment time
  • Cons: Short-term and high-interest rates
Please note that interest rates may vary based on individual borrower profiles.

How to Register with Lending Companies in the Philippines

Applying for an online loan with legitimate lending companies in the Philippines is a straightforward process. Follow these steps:

  1. Choose a Reputable Provider: Research and select a reputable online lending service that suits your needs.
  2. Select Your Loan: Choose the loan amount and term that aligns with your requirements.
  3. Complete the Application: Register on the provider’s website and fill in your personal information, including your name, ID number, address, phone number, income details, and bank account number.
  4. Document Submission: Provide a clear photo of your valid ID, along with a portrait of yourself holding the front of the ID card.
  5. Approval and Disbursement: Wait for the provider to review and approve your application, which typically takes only a few minutes. Once approved, you will receive an email or text notification, and the loan amount will be transferred to your account.

Comparison of Top Loan Companies in the Philippines

For a more detailed comparison, here are some of the top lending companies in the Philippines in terms of loan amounts, interest rates, and ratings:

Company Name Loan Amount Range Interest Rate Rating
Fingertip Lending Corp 1,000 – 10,000 1.2% 4/5 stars
Creditnet Phils Top 5,000 – 500,000 1.5% 5 stars
Mabrocio Lending Corp 1,000 – 25,000 1.4% 4/5 stars
Ihelp Lending Corp PH 3,000 – 20,000 1.6% 5 stars
Copperstone Lending Inc 6,000 – 30,000 1.4% 5 stars
Mabrocio Lending Co 7,000 – 45,000 1.0% 3/5 stars

Source: State Bank reporting and research.

FAQs – Best Online Lending Company in the Philippines

Yes, lending money with interest is legal in the Philippines, but interest rates must comply with relevant laws and regulations.

What are the requirements for lending companies in the Philippines?

To borrow from these lending companies, you typically need to be at least 18 years old, have a stable income, and possess a valid ID.

Can lending companies sue you in the Philippines?

Yes, if you fail to repay your loan on time, lending companies in the Philippines have the legal right to pursue you for non-payment. It is essential to fulfill your financial obligations and communicate with the lender if you encounter difficulties.

How to start a lending company in the Philippines?

If you are interested in starting a lending company in the Philippines, you should research the legal requirements, obtain the necessary licenses, and establish a robust business plan.

Where can I lend money in the Philippines?

You can apply for loans at banks, financial institutions, or online lending companies, like the ones mentioned in this review, depending on your financial needs.

Is lending a good business in the Philippines?

Yes, lending is a legitimate and profitable business in the Philippines, with government-regulated lending companies providing quick loan solutions to Filipinos.

How to invest in a lending company in the Philippines?

To invest in a lending company in the Philippines, you can explore opportunities to become a shareholder or contribute capital. Contact the lending company directly for investment inquiries.

Conclusion

In conclusion, online lending has become a convenient and accessible option for Filipinos in need of financial assistance. The top 10+ online lending companies mentioned in this review offer varying loan amounts, terms, and interest rates, catering to a diverse range of borrowers. It’s essential to carefully consider your financial needs and choose a reputable lending company that aligns with your requirements. With the right choice, you can secure the financial support you need quickly and efficiently.

Additional Considerations for Borrowers

While online lending offers quick access to funds, borrowers should exercise caution and responsibility when taking out loans. Here are some additional considerations:

  • Financial Planning: Before applying for a loan, assess your financial situation and determine if borrowing is the best option. Create a budget and explore alternative sources of income or financial assistance.
  • Loan Repayment: Ensure that you can comfortably repay the loan on time. Late payments can lead to additional fees and negatively impact your credit score.
  • Interest Rates: While online lenders offer convenience, interest rates can be higher than traditional financial institutions. Compare interest rates and terms from multiple lenders to find the most favorable option.
  • Reading Terms and Conditions: Carefully read and understand the terms and conditions of the loan agreement. Pay attention to fees, penalties, and the lender’s policies regarding late payments.
  • Credit Score Impact: Be aware that non-repayment of loans can harm your credit score, making it challenging to access credit in the future. Responsible borrowing is crucial for maintaining a healthy financial profile.
  • Customer Reviews: Research customer reviews and feedback about the lending company you intend to use. Real user experiences can provide valuable insights into the lender’s reliability and customer service.
  • Financial Education: Consider educating yourself on financial management and responsible borrowing to make informed decisions about loans and personal finance.

Remember that while online lending companies offer convenience and accessibility, responsible borrowing is essential to maintain your financial well-being.

5/5 - (6 votes)

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