13 Loans with Easy Application and Approval in the Philippines

Getting a loan is understandably a meticulous process. But there are still plenty of options to consider if you need cash ASAP or you don't have enough income documents.

Check out this list of legit lenders that offer an easy loan application process in the Philippines.

Easy Loan Application: Where to Apply for a Loan Easily in the Philippines

Whether you’re looking for a personal loan with few requirements, an easy online application process, fast approval, big loanable amounts, or flexible repayment terms, here are some loans to consider:

📌 Citi Personal Loan 

If you’re a principal credit cardholder, it’s easy to apply for a Citi Personal Loan. Whether you're funding your business, home improvement, travel, or debt consolidation, you can submit a quick loan application at Citi, with no collateral or guarantor needed.

Key Features of a Citi Personal Loan 

• Loan amount: Up to ₱2 million (subject to Citi's approval)
• Monthly add-on rate: 1.29%
• Loan tenure: One to five years  
• Approval time: As fast as 24 hours  

Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.

Who Can Apply for a Citi Personal Loan?

Individuals who meet the following criteria can apply for this personal loan with low interest rates in the Philippines:

• Aged 21 to 65 years old
• Filipino resident or local resident foreigner with a valid Philippine billing address
• With a taxpayer identification number (TIN)
• Principal credit cardholder (at least six months if from Citi and at least one year if from other banks)
• With a minimum gross annual income of ₱250,000

Citi Personal Loan Requirements

• One valid government-issued ID with photo and signature
• If employed: Latest one-month pay slip
• If self-employed: Latest Income Tax Return (BIR Form 1701) and Audited Financial Statements (AFS) with independent auditor's report, balance sheets, and tax receipt
• If a foreign national: Valid passport or ACR and proof of residency in the Philippines
• Accomplished Online Citi Application Form or downloadable Citi Personal Loan Application Form^[1]

📌 CIMB Bank Personal Loan 

Are you looking for an easy loan you can apply for online? CIMB Bank^[2] offers an all-digital, quick loan in the Philippines. Application takes only a few minutes, with no collateral and no guarantor needed.

Want to know how to apply for a CIMB Personal Loan? It's easy—just download the CIMB Bank mobile app and log in to proceed with your application.

Key Features of a CIMB Personal Loan

• Loan amount: ₱30,000 to ₱1 million
• Monthly interest rate: 1.12% to 1.95% (Annual contractual rates: 24%, 30%, or 36%)
• Loan tenure: 12 to 60 months
• Processing time: 10 minutes via the CIMB Bank mobile app 
• Approval time: Up to two banking days

Who Can Apply for a CIMB Personal Loan?

Individuals who meet the following criteria can apply for this loan:

• Aged 21 and above
• Filipino citizen or non-US person with a mailing address and active mobile number in the Philippines
• With a minimum gross monthly income of ₱15,000
• If employed: Tenured for at least six months or one year of continuous employment, unless working in the top 15,000 corporations
• If self-employed: Business in operation for at least one year

CIMB Personal Loan Requirements

• One valid government-issued ID
• Proof of income

📌 RFC Multi-Purpose Loan 

You can get a personal loan from Radiowealth Finance Corporation (RFC)^[3] in just three easy steps. Fill out the online application form and submit your requirements.

Once your application is verified and approved, you'll receive your loan proceeds in your preferred disbursement method. 

Key Features of an RFC Multi-Purpose Loan

• Loan amount: ₱10,000 to ₱250,000
• Monthly interest rate: 4% 
• Loan tenure: Up to 18 months 
• Approval time: As fast as 24 hours

Who Can Apply for an RFC Multi-Purpose Loan?

Individuals who meet the following criteria can apply for this loan:

• Not lower than 18 years old
• Filipino citizen with a residency of at least two years, unless a new homeowner
• With good character and reputation
• If employed: Tenured for at least two years with a minimum gross monthly income of ₱18,000
• If a professional or self-employed: Must be in the same profession for at least three years and must be profitably operating for at least two

RFC Multi-Purpose Loan Requirements

• Two valid government-issued IDs (including the company ID for employed borrowers)
• Proof of billing
• Proof of income
• Residential, business, or employment address
• Certificate of Employment
• Barangay, business, or DTI permit (for business owners)

📌 Tala Online Loan

With just an Android phone and a valid ID, you can already apply for a Tala loan online.^[4] Just download this easy loan mobile app to enjoy a quick loan application. The payment terms are flexible, giving you the freedom to choose your own due date.

Key Features of a Tala Online Loan

• Loan amount: ₱1,000 to ₱25,000
• Interest rate: As low as 0.5% daily
• Loan tenure: Up to 61 days 
• Processing time: Five-minute application process, instant decision, and loan disbursement within 24 hours  

Who Can Apply for a Tala Online Loan?

Individuals who meet the following criteria can apply for this loan:

• Filipinos aged 18 years and above
• With an active mobile number in the Philippines

Tala Online Loan Requirements

• Android smartphone with OS 4.1 or higher
• One valid government-issued ID

📌 ACOM REVOMAX Personal Loan

With ACOM,^[5] you can quickly apply for an easy loan online through the ACOM app or at any ACOM booth or branch near you. The requirements are basic, and there’s no need for a co-maker or collateral. Your REVOMAX loan can also get approved within the day of application.

Key Features of an ACOM REVOMAX Personal Loan

• Loan amount: ₱3,500 to ₱500,000
• Monthly interest rate: 3.315% to 4.563% (APR: 39.78% to 54.756% per year)
• Loan tenure: 6 to 10 months 
• Processing time: 24 hours or longer depending on credit evaluation

Who Can Apply for an ACOM REVOMAX Personal Loan?

Individuals who meet the following criteria can apply for this loan:

• Filipino citizens aged 21 to 65
• Employed with a tenure of at least three months
• Minimum gross monthly income of ₱7,000
• With an existing company landline phone and personal mobile number

ACOM REVOMAX Personal Loan Requirements 

• One valid government-issued ID
• Proof of employment:
  • Certificate of Employment or company ID
  • Latest payslip issued within the last 15 days or BIR 2316
• Proof of TIN: TIN card, recent BIR 2316, company ID, or payslip

📌 SB Finance Personal Loan 

If you have to borrow a bigger amount and need a longer repayment period, a personal loan from SB Finance,^[6] which is a partnership between Security Bank and Krungsri Thailand, may be a good fit for you.

You can file an easy loan application in the Philippines, as the process via the Zuki mobile app is purely digital. No credit card is needed to qualify.

Key Features of an SB Finance Personal Loan 

• Loan amount: ₱30,000 to ₱2 million
• Monthly add-on rate: 2% (APR: 39.43%)
• Loan tenure: 12 to 36 months
• Processing time: Three to five banking days

Who Can Apply for an SB Finance Personal Loan?

Individuals who meet the following criteria can apply for this loan:

• Aged 21 and above but not older than 65 upon loan maturity
• Filipino citizens with an office or residence landline
• If employed in Metro Manila, with a minimum gross monthly income of ₱15,000
• If employed outside Metro Manila, with a minimum gross monthly income of ₱12,000
• If self-employed:
  • An owner or a majority owner of a business with at least a 40% stake
  • Business profitably operating for two years minimum and with at least one trade reference
  • Minimum gross monthly income of ₱60,000

SB Finance Personal Loan Requirements

Apart from a filled-out application form, the applicant must submit the following requirements based on employment type:

If employed:

• Certificate of Employment issued within the last six months, latest one-month payslip, or latest Income Tax Return (ITR)

If self-employed:

• Latest one-year AFS with at least the previous year’s comparative financials
• DTI or SEC business registration certificate
• Business or Mayor’s Permit
• Latest three-month bank statements
• At least three trade references with contact details

📌 Metrobank Personal Loan

Metrobank launched its personal loan product in 2022, and it looks promising for those who want an easy loan application process. Simply complete an online application form, wait for the bank's email confirmation, and answer the call from the loan officer regarding your application.

Key Features of a Metrobank Personal Loan 

• Loan amount: ₱20,000 to ₱1 million
• Monthly interest rate: 1.25% to 1.50% (Annual Contractual Rates: 25.976% to 31.716%)
• Loan tenure: 12 to 36 months
• Processing time: Up  to seven working days

Who Can Apply for a Metrobank Personal Loan?

Individuals who meet the following criteria can apply for this loan:

• Filipino citizens at least 21 years old at the time of the loan application and 65 years old upon the maturity of the loan
• Gross annual income of at least ₱350,000 (around ₱29,166 per month).
• Must have a credit card
• Employed applicants must be regular employees with their current employer for at least one year
• Self-employed applicants must be at least two years in their current business

Metrobank Personal Loan Requirements

What makes this loan from Metrobank one of the easiest to apply for in the Philippines? The bank requires only two documents from borrowers:

• Valid government-issued ID
• Signed Promissory Note and Disclosure Statement (PNDS)

📌 BPI Personal Loan

If you're looking for an easy bank loan in the Philippines, check out the BPI Personal Loan. It has affordable payment terms and doesn't require any collateral.

You can easily apply through the BPI website and submit your income documents via email. Once your BPI Personal Loan application is approved, you can get your cash quickly through your BPI account.

Key Features of a BPI Personal Loan

• Loan amount: ₱20,000 to ₱2 million
• Monthly add-on rate: 1.2% 
• Loan tenure: 12 to 36 months
• Processing time: Five to seven working days

Who Can Apply for a BPI Personal Loan?

Individuals who meet the following criteria can apply for this loan:

• Aged 21 and above but not older than 60 upon loan maturity
• Filipino citizen currently residing in the Philippines

BPI Personal Loan Requirements

Apart from a filled-out online application form, the applicant must submit the following requirements:

If employed:

• One valid government-issued ID with photo and signature
• Latest three full-month payslips, or the latest ITR or BIR Form 2316

If self-employed:

• One valid government-issued ID with photo and signature
• Latest three-year AFS, or latest ITR
• DTI or SEC business registration certificate

📌 PSBank Flexi Personal Loan

For another easy bank loan in the Philippines, try out the collateral-free PSBank Flexi Personal Loan with Prime Rebate. If you get approved, you’ll receive an ATM card that works like a credit card minus the high interest rate.

Paying your monthly dues also becomes more gratifying with the loan rebate program, which allows you to receive rebates or gain savings when you make advance payments.

Key Features of a PSBank Flexi Personal Loan 

• Loan amount: ₱20,000 to ₱250,000
• Monthly interest rate: 1.75% or 2.5% depending on the loan type
• Loan tenure: 24 or 36 months
• Processing time: Five to nine working days

Who Can Apply for a PSBank Flexi Personal Loan?

Individuals who meet the following criteria can file a PSBank Flexi Loan application online or in-branch:

• Aged 22 to 54 upon loan application
• Filipino citizens currently residing in the Philippines
• If employed, with at least two years of permanent work status and one year of tenure in the current employer
• If self-employed, must have profitable operations for the last three years
• With a minimum gross monthly income of ₱15,000 if employed or ₱30,000 if self-employed
• With residential contact number (landline or mobile), business landline, and email address
• Preferably an active credit cardholder

PSBank Flexi Personal Loan Requirements

Apart from a filled-out PSBank Flexi Personal Loan Application Form, the applicant must submit the following requirements:

If employed:

• Photocopy of one valid government-issued ID
• Photocopy of BIR Form 2316
• If a credit cardholder, an original copy of the latest credit card billing statement (with the applicant as principal cardholder)

If self-employed:

• Photocopy of one valid government-issued ID
• Photocopy of BIR Form 1701 and AFS with a BIR stamp for the past two years
• If a credit cardholder, an original copy of the latest credit card billing statement (with the applicant as the principal cardholder)

📌 EastWest Bank Personal Loan

Whether you need cash for travel, educational support, or a major purchase, another bank loan with easy approval in the Philippines that you can apply for is the EastWest Bank Personal Loan. It offers competitive interest rates, fast processing, and flexible terms.

Also, no collateral or co-maker is required for an EastWest Bank Personal Loan application.

Key Features of an EastWest Bank Personal Loan 

• Loan amount: ₱25,000 to ₱2 million
• Monthly interest rates:
  • 1.49% to 1.69% (with a credit card for at least 12 months)
  • 1.89% (without a credit card or with a credit card for less than 12 months)
• Loan tenure: 12 to 36 months
• Processing time: Five to seven banking days

Who Can Apply for an EastWest Bank Personal Loan?

Individuals who meet the following criteria can apply for this loan:

• Aged 21 and above but not older than 65 upon loan maturity
• Filipino citizens or foreign nationals permanently residing in the Philippines
• With a fixed home or business landline number and a mobile number
• With a minimum gross monthly income of ₱15,000

EastWest Bank Personal Loan Requirements

Apart from a filled-out EastWest Online Personal Loan Application Form, the applicant must submit the following requirements:

If employed:

• Photocopy of one valid government-issued ID with photo and signature
• Proof of income (e.g., Certificate of Employment for employed; BIR Form 1701 for self-employed)

If self-employed:

• Photocopy of one valid government-issued ID with photo and signature, latest ITR or BIR Form 1701 and audited AFS
• DTI or SEC business registration certificate
• Business Permit
• Valid credit card reference or latest credit card statement of account
• Other documents for further verification (e.g., Mayor's Permit)

📌 Tonik Quick Loan

Another easy loan in the Philippines that guarantees fast approval, real-time disbursement, and a flexible payment arrangement is the Tonik Quick Loan.^[7] Tonik loan application is 100% digital through the bank's mobile app, making the process convenient and hassle-free.

Key Features of a Tonik Quick Loan

• Loan amount: ₱5,000 to ₱50,000
• Monthly interest rate: 7% 
• Loan tenure: Six to 24 months
• Processing time: 30 minutes

Who Can Apply for a Tonik Quick Loan?

Individuals who meet the following criteria can apply for this loan:

• 23 to 58 years old
• Filipino citizens residing in the Philippines
• Currently employed

Tonik Quick Loan Requirements

• One valid ID
• TIN ID
• Tonik savings account

📌 Tonik Big Loan

With the Tonik Big Loan, you get to enjoy an easy loan application process and a big loan amount. Use the funds for home improvement, a side hustle, or a new car. Condo owners in Metro Manila can avail of this loan. 

Key Features of a Tonik Big Loan

• Loan amount: ₱250,000 to ₱2.5 million
• Monthly interest rate: 1.0825%
• Loan tenure: 12 to 60 months
• Processing time: Immediately after you submit requirements and sign loan documents

Who Can Apply for a Tonik Big Loan?

Individuals who meet the following criteria can apply for this loan:

• 23 to 58 years old
• Filipino citizens residing in the Philippines
• Currently employed
• With a condominium unit in Metro Manila with a clean title as collateral

Tonik Big Loan Requirements

• Valid ID
• Latest Bank Statements of Account or payslips
• If Married: Valid ID of spouse and Marriage Contract
• If Widowed: Marriage Contract & Death Certificate of Spouse
• If Annulled: Final Court Order on Legal Declaration of Nullity of Marriage
• Copy of Condominium Certificate of Title
• Real Estate Tax Clearance
• Tax Declaration
• Condominium Association Dues Certificate
• Photos of the property

📌 Home Credit Cash Loan 

Need cash to start a personal project, buy big-ticket items, or pay off unexpected expenses? Check out the Home Credit Cash Loan. The highlight of this loan product is that you can get approved in as fast as one minute! 

Key Features of a Home Credit Cash Loan 

• Loan amount: ₱3,000 to ₱150,000 
• Monthly interest rate: Starts at 1.83%
• Loan tenure: Six to 60 months
• Processing time: As fast as one minute

Who Can Apply for a Home Credit Cash Loan?

Individuals who meet the following criteria can apply for this loan:

• Filipino citizens aged 18 to 68 years old
• Must be an existing Home Credit customer who received an offer via SMS
• With income from employment, business, remittances, or pension

Home Credit Cash Loan Requirements

• Valid ID with complete address
• Any available document that proves your financial capabilities

How to Get Approved for a Loan: 10 Tips for an Easy Loan Application in the Philippines

Taking out a loan from banks and other financial institutions is so convenient these days. But before you sign up for that loan, here are some helpful reminders for easy loan application and approval.

✔️ Determine the Kind of Loan You Need

Why do you need to take out a loan? The answer will determine the right kind of loan and which lender to get it from.

If you need just a few thousand pesos to tide you over, you can get a payday loan or an online loan. But if you’re looking for a loan for funding a home renovation, a wedding, or a small business, a multi-purpose loan is the ideal choice.

✔️ Consider Your Debt-to-Income Ratio

How much do you need to borrow to fund your loan purpose? More importantly, how much can you afford in monthly repayments?

One of the things banks and loan providers look at is an applicant’s debt-to-income ratio, which is the percentage of your gross monthly income that goes to paying your monthly debt payments.^[8]

✔️ Choose the Shortest Loan Term

When you take out a loan, you may be offered several loan term options. But keep in mind that longer loan terms mean paying more interest charges and higher interest rates over time. It’ll take longer to pay off the loan and finally be debt-free.

On the other hand, a shorter loan term can improve your chances of getting approved. Loan providers prefer shorter payback periods because of the lower chances that your financial situation will change during the loan period. 

✔️ Apply for a Realistic Loan Amount

Make sure to check the loan qualifications before submitting your loan application. Banks and financial institutions offer minimum and maximum loan amounts, so it’s not guaranteed that you’ll be approved for the maximum amount. This will still depend on your income and your credit history. 

✔️ Improve Your Credit Score 

If you wish to apply for a loan and get approved, check your credit score. This is one of the major considerations of loan providers when approving or rejecting a loan application. 

Take the necessary steps to fix a bad credit score, preferably while you still don’t need a loan. Pay off those delinquent credit cards or any unpaid loans. Get a copy of the bank clearance letter and check credit reporting agencies to see if your information is correct and updated.

✔️ Shop Around and Compare Fees 

Check loan products of different loan providers to compare rates and terms. If you can speak to a loan officer, ask questions about the loan application process, the requirements, repayment schedules, fees, and charges.

This way, you can get all the information you need and choose the right loan product. Also, it will help you learn if you have the financial capacity to pay off the loan promptly.

✔️ Get Your Paperwork Ready 

Prepare all your income documents to facilitate a quick loan application process, especially if you need the loan to get approved ASAP. Make sure they are updated and that all information is true and correct.

✔️ Consider the Fees and Charges 

Read the terms and conditions and study the personal loan fees. How much are the application or origination fees? Are the late payment fees and prepayment penalty fees too high? You can find the least expensive loan by comparing the loan’s total cost, which includes fees and charges.

✔️ Don’t Apply for Too Many Loans 

Applying for too many loans is a sign that you’re a high credit risk. This will alert loan providers that you’re really in a financial bind, and it can negatively impact your loan application.

Learn about your available loan options to identify the right fit before submitting your loan application. Compare your loan options online using a comparison website like Moneymax to know the eligibility criteria, repayment options, and applicable fees. 

✔️ Never Skip Payments 

Missed payments will not just hit you with late payment fees,—they'll also negatively impact your credit score and your relationship with your loan provider. As a result, it will be more challenging for you to apply for a new loan.

To make sure you don’t miss a loan payment, set up an automatic debit arrangement on your savings account, or set a recurring reminder on your phone or computer a few days before your due date.

Final Thoughts

Aside from an easy loan application process, consider other factors when choosing a personal loan. Make sure you can afford the monthly payments. Whether it’s a short-term or long-term loan, pick one that will work with your current financial situation and your repayment timeline.

This way, it will be easy for you to apply for a loan again should you need one in the future.

Sources: 

• ^[1] Citi Online Form | Downloadable Personal Loan Application Form
• ^[2] CIMB Bank Personal Loan
• ^[3] RFC Multi-Purpose Loan
• ^[4] Tala Loan
• ^[5] ACOM REVOMAX Loan
• ^[6] SB Finance Personal Loan
• ^[7] Tonik Quick Loan
• ^[8] Debt-to-Income Ratio (Investopedia, 2022)