10+ Online Loan Apps with a 1-Month (30-Day) Repayment Period Exclusively for 2024

In today’s fast-paced financial landscape, individuals often encounter unforeseen expenses that demand immediate attention. During such times, 1-month online loan apps have emerged as a convenient and accessible solution to bridge short-term financial gaps. These mobile applications offer users quick access to small sums of money, typically with a repayment window of just 30 days.

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
Apply Now

₱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
Apply Now

₱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
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
#4

FINBRO
Apply Now

₱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

In this article, we will delve into a detailed analysis of 1-month online loan apps for the year 2024. We’ll explore their advantages and disadvantages, application processes, and present the top 10 options available in the market.

 
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

Summary of 1-Month Loan Apps

  • Loan Amount: Ranging from 1,000 to 60,000 pesos
  • Age Requirement: 18 to 60 years old
  • Loan Term: One month (30 days)
  • Interest Rate: 0% interest for the first loan
  • Pros: No credit check required
  • Cons: Short-term nature of the loan
  • Effectiveness: Generally considered good
  • Bad Credit: Applicants with poor credit history are often approved

Understanding 1-Month Loan Apps

1-month loan apps are mobile applications designed for online platforms. They empower users to borrow small amounts of money for a period of one month, addressing immediate financial needs effectively. These apps are characterized by their simplicity, accessibility, and swift loan approval processes, making them a convenient choice for borrowers.

Pros and Benefits of 1-Month Loan Apps

1-month loan apps come with several advantages that make them an attractive option for managing short-term financial challenges. Some key benefits include:

  • User-friendly mobile interface that allows easy access and management of finances, anytime and anywhere.
  • Flexibility in choosing loan amounts and repayment periods, accommodating individual financial needs.
  • Streamlined application and approval processes, which require minimal personal and financial information.
  • Automation of the review process, resulting in shorter waiting times and expedited access to funds.

Cons and Drawbacks of 1-Month Loan Apps

While 1-month loan apps offer numerous advantages, it is important to acknowledge their drawbacks, which include:

  • Interest rates and fees that may be higher compared to traditional lending institutions, potentially increasing the overall amount repayable.
  • The risk of falling into a debt cycle due to the short repayment period, especially if the borrower is unable to meet the deadline.
  • Possible negative consequences for credit scores if repayment terms are not met, potentially limiting access to future loans.

Criteria for Evaluating 1-Month Loan Apps

To make an informed decision when selecting a 1-month loan app, consider the following criteria:

  • Review interest rates and fees, calculating the total repayment amount.
  • Research user reviews to gauge the reputation and reliability of the app.
  • Assess the application and review process for simplicity and efficiency.
  • Ensure the app adheres to robust privacy policies and security measures, safeguarding personal information.
  • Check for flexibility in payment options and loan renewal terms to avoid incurring high penalty fees.

Interest Rates on 1-Month Online Loans

Interest rates for 1-month online loans can vary among service providers, but they typically tend to be higher compared to traditional bank loans. On average, the monthly interest rate hovers around 11.9%.

Example: For a 20,000-peso loan with an 11.9% monthly interest rate:

  • Principal payable in 1 month: 5,000 pesos
  • Interest payable in 1 month: 2,380 pesos
  • Total payable in 1 month: 7,380 pesos

Conditions and Requirements for 1-Month Instant Loan Apps

The conditions and requirements for 1-month instant loan apps may differ between providers, but some common prerequisites include:

Conditions

  • Age: Applicants must be at least 18 years old.
  • Valid government-issued identification.
  • A bank account or e-wallet for loan disbursements.

Requirements

  • Download and install the 1-month loan app.
  • Provide personal information for registration.
  • Identity verification through ID card or passport photos and sometimes a portrait photo.

Credit Limits and Terms of 1-Month Online Loan Apps

1-month loan apps typically offer the following credit limits and terms:

Credit Limit

  • Ranges from 1,000 to 25,000 pesos, with some apps extending up to 50,000 pesos.

Term

  • Repayment terms range from 3 to 6 months, with a few apps allowing up to 12 months.

Comparison of 1-Month Loan Apps

Here’s a comparison of three popular 1-month loan apps in the Philippines:

App Name Limits (Pesos) Term (Months) Interest Rate (%) Approval Time (Minutes) Overall Score
Digido 1,000 – 30,000 3 – 6 0.4% per day 5 8/10
Moneycat 1,000 – 20,000 7 – 28 days Up to 3% per day 15 8/10
Finbro 1,000 – 50,000 3 – 12 0.16% per day 10 9/10

How to Apply for a 1-Month Loan App

To borrow through a 1-month loan app, follow these steps:

  • Step 1: Goto website application or Download and install the app from the respective app store (iOS or Android).
  • Step 2: Register an account by providing necessary personal details such as name, email, mobile number, and password.
  • Step 3: Verify your identity as instructed by the app, typically requiring ID or passport photos.
  • Step 4: Complete the financial review and loan request, specifying the desired loan amount and repayment period (usually one month).
  • Step 5: Confirm loan details and contract terms, wait for the review process, and receive the approved loan in your designated bank account.

Top 10 Best Online Loan Apps for 1-Month Duration in 2024

Here’s a list of recommended 1-month online loan apps for 2024:

Finbro – 1 Month Loan App High Limit

  • Loan Limit: 1,000 – 15,000 pesos (initial loan), up to 50,000 pesos for subsequent loans
  • Interest Rate: 0.16% per day
  • Eligibility: Filipino citizens, aged 20 – 70, with a source of income
  • Address: San Antonio, Pasig

Pros: Fast approval, 24/7 registration, no financial proof required. Cons: No bad debt support, no loan extension. Overall Score: 9/10

Customer Feedback: Over 98% of customers express high satisfaction with Finbro’s 1-month loan service.

Application Guide: Download and install the Finbro app from their website and follow the provided instructions.

Cashexpress – 1 Month to Pay Loan App with Fast Disbursement (5 Minutes)

  • Loan Limit: 1,000 – 20,000 pesos
  • Interest Rate: 1.99% per day
  • Eligibility: Filipino citizens, aged 21 – 70, with stable income and valid identification
  • Address: Taguig City

Pros: Simple and fast application, instant approval, flexible payment options. Cons: Short repayment period. Overall Score: 8/10

Customer Feedback: Cashexpress is praised as one of the best 1-month loan support services in the market.

Application Guide: Download and install the Cashexpress app from their website and follow the provided instructions.

Moneycat – One Month Loan App Prestige

  • Loan Limit: 1,000 – 3,800 pesos (initial loan), up to 20,000 pesos for subsequent loans
  • Interest Rate: Up to 3% per day
  • Eligibility: Filipino citizens, at least 22 years old, with a stable income and valid identification
  • Address: Pasig City

Pros: Simple application process, fast approval, no direct banking required. Cons: High interest rates, short payment term. Overall Score: 8/10

Customer Feedback: Moneycat is considered a reputable and fast short-term loan service.

Application Guide: Download and install the Moneycat app from their website and follow the provided instructions.

Crezu – Loan App with 30 Days without Service Charge

  • Loan Limit: 1,000 – 25,000 pesos
  • Interest Rate: 12% – 36% per year, no service fees
  • Eligibility: Filipino residents aged 18 – 70
  • Address: Tallinn, Estonia

Pros: 24/7 operation, instant request processing, no credit history check. Cons: Does not directly offer 1-month payday loans. Overall Score: 7/10

Customer Feedback: Customers praise Crezu’s transparency and reputation as a financial platform.

Application Guide: Download and install the Crezu app from their website and follow the provided instructions.

Digido – Online Loan with 1 Month to Pay and Auto-Approval

  • Loan Limit: Up to 10,000 pesos (initial loan), up to 25,000 pesos for subsequent loans
  • Interest Rate: 0.4% – 1.5% per day
  • Eligibility: Filipino citizens, aged 21 – 70, with a valid government ID and unblocked mobile number
  • Address: Quezon City, Philippines

Pros: No hidden fees, 24/7 support, flexible payment options. Cons: Short-term installments, high interest rates. Overall Score: 8/10

Customer Feedback: Digido’s 1-month loan service is praised for its objectivity, speed, and reputation.

Application Guide: Download and install the Digido app from their website and follow the provided instructions.

Expert Opinions on Short-Term 1-Month Loans

Economists like Maurice Félix Charles Allais emphasize that quick 1-month loans aim to provide a simple, convenient, and fast solution for borrowers facing financial emergencies. Dean Baker adds that these loans offer a hassle-free and collateral-free alternative, particularly beneficial for individuals with low incomes or limited credit histories.

Frequently Asked Questions (FAQs)

Here are answers to common questions about 1-month loan apps:

How do I register and create an account on a 1-month loan app?

Download and install the app from the respective app store (iOS or Android). Register by providing necessary personal details such as name, phone number, address, email, income, and a photo of your personal ID to complete the registration process.

What is the maximum short-term loan limit for 1 month?

Loan limits vary among lenders, with initial loans typically ranging from 500 to 10,000 pesos. Over time, these limits can increase, sometimes reaching up to 50,000 pesos.

What happens if I don’t pay my 1-month instant loan on time?

Late payments can result in late fees, increased interest rates, damage to your credit score, and difficulty obtaining future loans. The lender may also initiate debt collection measures.

For a reputable and reliable 1-month loan app in 2024, consider Finbro. It offers higher loan limits compared to many other apps, with a favorable interest rate of 0.16% per day for a maximum term of 12 months.

Conclusion

1-month online loan apps serve as valuable financial tools for addressing short-term monetary challenges. While they offer convenience and accessibility, users must exercise caution, carefully evaluating interest rates and terms to make informed borrowing decisions.

Always ensure your ability to repay loans on time to avoid potential financial pitfalls. In the evolving landscape of personal finance, 1-month loan apps continue to provide essential support for individuals navigating their financial journeys.

5/5 - (6 votes)

Leave a Reply

Your email address will not be published. Required fields are marked *