Cash Loans Online available in the Philippines

Find out which company is ready to loan

By clicking the Find out button you are agreeing with our Privacy Policy.

Online cash loans in the Philippines is a convenient way to borrow money online especially during financial emergencies or when you need cash for unexpected expenses. Online loan services allows you to get quick cash loans with minimal hassle and fasten the process of getting funds. To apply for a loan, you need to fill up an online application form, submit the required documents and meet the eligibility criteria.

Such online loans are designed for those who need fast cash loan with fast approval. The process of getting an online cash loan is easy and fast so you can get the funds you need. Important documents usually are a valid ID such as driver’s license or voter’s ID and additional supporting documents.

Please note that loan amount, interest rates and flexible loan terms may vary from one lending company to another. Before applying for a loan, applicants should thoroughly read the terms and conditions including the presence of processing fee or upfront fee. A good credit history can be an advantage in the loan approval process and may affect the terms and conditions of the loan agreement.

Features

  • Fast Approval. Online cash loans is known for its fast approval process so you can get the funds you need fast during financial emergencies.

  • Online Application. The application process for online cash loan is online. You can fill up forms, upload required documents and verify your eligibility from the comfort of your own home without the need to personally visit.

  • Flexible Loan Terms. Online lending companies offer flexible repayment options so you can choose a plan that suits your financial situation.

  • Interest Rates. Interest rates for online loans vary from lender to lender and loan type. It’s important to understand these rates to know the total cost of borrowing.

  • Supporting Documents. To complete the online loan application, you need to provide necessary documents including recognized forms of ID such as driver’s license or voter’s ID.

  • Repeat Customer Benefits. Regular borrowers of online loans may have a faster application process on subsequent applications and some lenders may offer perks for their loyalty.

  • Multiple Payment Channels. Online cash loans have multiple payment options so you have variety of ways to pay your loan.

Pros and Cons

Pros

  • 24/7 Online Application. Cash loans online can be applied anytime, anywhere. You can start your loan application through a mobile app or website so it’s perfect for financial emergencies.

  • Minimal Eligibility and Document Requirements. Online loans is easy for those with government-issued ID. The process usually involves uploading a scanned copy or photo of the ID, sometimes with a selfie. For bigger loan amounts, additional documents such as employment verification may be required.

  • Convenient Loan Application Process. The application process for online loan is simple and can be done through a smartphone or computer. You don’t need to visit a bank branch as all forms and documents can be submitted online.

  • Easy and Fast Approval. Online loans in the Philippines has fast approval process due to minimal document requirements so it’s a good option for quick financial needs.

  • No Bank Account Required. Online cash loans usually don’t require a bank account. While some lenders prefer to disburse loans to a bank account, others use remittance centers for the disbursement of loan funds.

Cons

  • Higher Interest Rates. Interest rates for online cash loans are higher compared to traditional loans because it’s unsecured. This can be a financial burden if not paid on time.

  • Shorter Loan Terms. Most online short-term loans need to be paid within a short period, usually 30 days. Longer payment terms may incur additional fees and higher interest rates.

  • Risk of Losing Money to Scammers. Online loan application has risk of encountering fraudulent lenders. This poses identity theft risk as personal info is shared during the loan process.

  • Risk of Harassment by Online Lenders. Borrowers may be harassed by some online lenders especially when payments are delayed. Be with reputable lenders to avoid such situations.

Requirements and Conditions

Conditions

  • Loan Amount and Interest Rate. The approved loan amount and interest rate is based on the applicant’s credit score, income and the lending company’s policies.

  • Fast Approval. Online cash loans has fast approval so applicants can get the funds they need ASAP.

  • Due Date. Borrowers should note the due date to avoid late fees and charges.

  • Interest Rates and Fees. Interest rates and processing fees should be reviewed by borrowers before agreeing.

  • Loan Terms. Loan agreements including repayment period varies from one lending entity to another. Some offer short term loans while others offer longer repayment periods.

  • Upfront Fees and Processing Fees. Legit lenders may charge processing fees but applicants should be wary of upfront fees or unreasonable processing charges.

Requirements

  • Eligibility. Applicants for quick cash loan must be Filipino citizen or resident, 18 to 65 years old.

  • Valid Government-issued ID. A valid government-issued ID such as passport, driver’s license or voter’s ID is required by most online loan providers.

  • Proof of Income. Lenders will evaluate an applicant’s repayment capacity so they will ask for proof of income which can be pay slips or employment verification.

  • Bank Statements. Lenders will also assess financial stability and history so they may ask for bank statements.

  • Company ID (for employed). Employed applicants may need to present company ID as part of their loan application.

  • Self-Employment Documentation (for self-employed). Self-employed should be prepared to present documentation of their business status such as permits or tax returns.

How to Get the Money

  • Bank Transfer. The most common way for borrowers to get the loan is through bank transfer to their preferred bank account. This is secure and fast so borrowers can get the funds ASAP.

  • Remittance Centers. For those who don’t have a bank account, some lending companies partner with remittance centers. Borrowers can collect the loan proceeds in cash by visiting these centers, a convenient solution for immediate cash needs.

  • E-Wallets. With the advancement of digital finance, many lenders now send the loan proceeds to the borrower’s e-wallet. This digital way allows borrowers to make transactions or transfer the money to their bank accounts.

  • Cheques. Some lenders provide the loan amount via cheque. Recipients of the cheque can deposit it to their bank account and the funds will be available for use.

How to get a loan? Step-by-Step

  • What’s Your Loan For

    Firstly, specify what you want to use the loan for, whether it’s to buy property, start a business or to cover personal financial needs. Knowing the purpose is important as different loans are designed for different purposes and will guide you to the right funding option.

  • Loan Terms

    Read the loan agreement carefully, including interest rates, repayment schedule, fees and early payment penalties. Being aware of these terms will help you understand your financial commitment.

  • Documents

    Lenders will require certain documents from you, which may include income proof, employment confirmation, credit history and purpose of loan. Having these documents ready beforehand will make the application process smoother.

  • Apply

    Fill out the loan application form for your chosen lender. While many lenders allow online applications, some may require a personal visit. Make sure to fill in all information accurately.

  • Approval

    After submission, your application will be reviewed by the lender who will assess your creditworthiness, income and loan purpose. The timeframe for this process varies by lender, some will give you a preliminary approval.

  • Get Loan

    Once all requirements are done, the lender will release the loan. The loan will be deposited into your bank account or given as a check depending on the arrangement.

Other lending offers

1

Loan Amount: 25,000₱

Loan Term: 180 days.

Apply now

Interest Rate: 0.0%

2

Loan Amount: 50,000₱

Loan Term: 365 days.

Apply now

Interest Rate: 0.39%

3

Loan Amount: 20,000₱

Loan Term: 90 days.

Apply now

Interest Rate: 0.0%

4

Loan Amount: 20,000₱

Loan Term: 180 days.

Apply now

Interest Rate: 0.0%

5

Loan Amount: 25,000₱

Loan Term: 30 days.

Apply now

Interest Rate: 0.0%

6

Loan Amount: 15,000₱

Loan Term: 1 days.

Apply now

Interest Rate: 0.01%