Navigating the landscape of lending options in the Philippines can be challenging, especially when seeking unsecured loans. To help you make an informed decision, we’ve compiled a list of reputable lending institutions that offer loans without requiring collateral. Here’s a detailed look at some of the top options:
Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in September 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 |
1. Traditional Banks
Traditional banks remain a cornerstone in the lending industry, known for their robust loan products with well-defined terms and regulations. While the application process may be lengthier, the reliability and security offered by these institutions make them a preferred choice for larger loans.
Notable Banks in the Philippines:
- BPI Family Savings Bank: Offers personal loans with competitive interest rates and flexible repayment terms.
- Security Bank: Provides various loan options, including personal and business loans, with an emphasis on customer service.
- EastWest Bank: Known for its easy application process and fast approval times.
- RCBC Savings Bank: Offers personalized loan solutions tailored to different financial needs.
- Metrobank: A trusted name with a range of loan products, including personal and auto loans.
- BDO Unibank: The largest bank in the Philippines, offering comprehensive loan products.
- Land Bank of the Philippines: Focuses on loans for agriculture and rural development but also offers personal loans.
- Philippine National Bank (PNB): Provides a variety of loan products, including home and personal loans.
2. Microfinance Institutions
Microfinance institutions are ideal for those needing smaller loan amounts. These organizations specialize in providing financial services to individuals and small businesses, often with a focus on community development and financial inclusion.
Prominent Microfinance Institutions in the Philippines:
- ASA Philippines Corporation (ASA): Offers microloans aimed at low-income families and small entrepreneurs.
- CARD Mutually Beneficial Services, Inc. (CARD MRI): Provides microloans along with other financial services to improve the quality of life for its members.
- La Luz Development and Microfinance Services Corporation (La Luz): Focuses on delivering financial services to underserved communities.
- Transparency International (TI): Engages in providing loans with a commitment to transparency and anti-corruption.
- Opportunity International (OI): A global network that offers microloans to promote economic development.
- Fundación Mutual para el Desarrollo (FMD): Supports community-based financial services and microloans.
3. Securities and Exchange Commission (SEC) Registered Lending Companies
For those who prefer the convenience of online applications and faster processing times, SEC-registered lending companies are an excellent choice. These companies ensure legitimacy and compliance with local regulations, offering a safer borrowing experience.
Top SEC-Registered Lending Companies:
- Lendable Inc.: Provides quick and easy online loan applications, focusing on speed and convenience.
- Cashwagon Philippines Inc.: Known for its fast approval process and user-friendly platform.
- Pinnatif Co., Ltd. (PT. PINTECH FINANCIAL INDONESIA): Offers various loan products with a focus on customer satisfaction.
- Robinsons Bank Corporation (Robinsons Bank): Part of the Robinsons Group, offering secure and reliable loan services.
- Easycash Philippines Lendings Inc. (Easycash): Specializes in providing short-term loans with rapid approval.
- Atome Financial Philippines Corporation (Atome): Utilizes technology to streamline the loan application process, ensuring quick and efficient service.
Choosing the right lending institution is crucial for securing a loan that meets your needs and circumstances. Whether you opt for the stability of traditional banks, the accessibility of microfinance institutions, or the convenience of SEC-registered online lenders, understanding your options will help you make an informed decision.