11 Loans with Easy Application and Approval in the Philippines

Venus Zoleta

Venus Zoleta

Last updated November 07, 2022

Getting a loan is understandably a meticulous process. But there are still good options to consider if you’re looking for an easy loan application that gets you the results you need fast.

Below are some legit lenders that offer easy personal loan application and approval in the Philippines.

Looking for Easy Loan Application? Here's Where to Apply for a Loan Easily in the Philippines

Whether you’re looking for a personal loan with fewer bank loan requirements, an easy online application process, faster approval, bigger loanable amounts, or longer repayment periods, 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 it’s to fund 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

  • Loan amount: Up to ₱2 million (subject to Citi's approval)
  • Interest rate: 26.9% to 30.9% per year (for new to Citi customers)
  • 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

APPLY-NOW

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]

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

CIMB Bank Personal Loan 

Are you looking for an easy loan you can apply for online? CIMB Bank[2] offers an all-digital loan application that 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

  • Loan amount: ₱30,000 to ₱1 million
  • Interest rate: 1.12% to 1.95% per month  (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 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
  • Payslip
Compare-Orange

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

📌 Key Features

  • Loan amount: ₱10,000 to ₱100,000
  • Interest rate: 4% per month
  • Loan tenure: Three to 18 months 
  • Approval time: Five to seven days  

🧑 Who Can Apply for an RFC Loan?

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

  • Above 21 years old
  • Filipino citizen with 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 self-employed: Must be in the same profession for at least three years
  • If a professional: Must have an updated PRC license and have been practicing for at least three years
  • If a business owner: Must be profitably operating for at least one year

RFC Loan Requirements

  • Two valid government-issued IDs (including the company ID for employed borrowers)
  • Three full-month pay slips
  • Certificate of Employment
  • Barangay, business, or DTI permit (for business owners)

APPLY-NOW

Tala Online Cash Loan

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

📌 Key Features

  • Loan amount: ₱1,000 to ₱15,000
  • Interest rate: Starts at 9%
  • Loan tenure: Up to 60 days 
  • Processing time: 5-minute application process, instant decision, and loan disbursement within 24 hours  
Personal loan application

🧑 Who Can Apply for a Tala 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 Loan Requirements

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

Compare-Orange

ACOM REVOMAX Personal Loan

easy loan application - 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

  • Loan amount: ₱3,500 to ₱500,000
  • Interest rate: 3.315% to 4.563% per month (APR: 39.78% tp 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 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 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, and no credit card is needed to qualify.

📌 Key Features

  • Loan amount: ₱30,000 to ₱2 million
  • Interest rate: 1.89% monthly add-on rate (APR: 37.53% per year)
  • Loan tenure: 12 to 36 months
  • Processing time: 3 to 5 banking days

🧑 Who Can Apply for an SB Finance 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
  • For employed individuals outside Metro Manila, with a minimum gross monthly income of ₱12,000
  • If self-employed:
    • 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 Loan Requirements

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

If employed:

  • One valid government-issued ID with photo
  • Certificate of Employment issued within the last six months, latest one-month payslip, or latest Income Tax Return (ITR)

If self-employed:

  • One valid government-issued ID with photo
  • 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

Compare-Orange

Metrobank Personal Loan

Metrobank has just launched its personal loan product in 2022, and it looks promising for those who want an easy loan application process. The fourth largest bank in the Philippines (in terms of total assets as of mid-2022) makes its personal loan as easy to get as 1-2-3.

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

  • Loan amount: ₱20,000 to ₱1 million
  • Interest rate: 1.25% to 1.50% per month (annual contractual rates: 25.976% to 31.716%)
  • Loan tenure: 12 to 36 months
  • Processing time: Five 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)

Compare-Orange

BPI Personal Loan

If you need a bank loan with easy approval in the Philippines, check out the BPI Personal Loan. It has affordable payment terms with no collateral required.

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

  • Loan amount: ₱20,000 to ₱2 million
  • Interest rate: 1.2% per month (annual contractual rates: 25.03% to 25.60%)
  • 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 based on employment type:

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

Compare-Orange

PSBank Flexi Personal Loan with Prime Rebate

For another easy bank loan in the Philippines, try out the collateral-free PSBank Flexi Personal Loan. 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

  • Loan amount: ₱20,000 to ₱250,000
  • Interest rate: 1.75% or 2.5% per month 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 based on employment type:

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)

Compare-Orange

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

  • Loan amount: ₱25,000 to ₱2 million
  • Interest rates:
    • 1.49% to 1.69% per month (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 based on employment type:

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)

Compare-Orange

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] The Tonk Loan application is 100% digital through the bank's mobile app, making the process convenient and hassle-free.

📌 Key Features

  • Loan amount: ₱5,000 to ₱50,000
  • Interest rate: 7% per month (Lower interest rate of 5.42% if you link your salary payroll ATM card)
  • Loan tenure: Six to 24 months
  • Processing time: 30 minutes

🧑 Who Can Apply for a Tonik 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 Loan Requirements

  • One valid ID
  • Any of the following proof of income: Certificate of Employment, latest full-month payslip, one full-month salary bank statement of account, ITR or BIR Form 2316 
  • TIN ID
  • Tonik savings account

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

easy loan application - things to consider

Everything is just so convenient these days, even taking out a loan from banks and other financial institutions. But before you sign up for that loan, here are some helpful reminders to raise your odds of having an easy loan application and approval.

1. 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 just need 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.

2. 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 that 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]

3. 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. Not to mention, they’ll take you 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. 

4. Apply for a Realistic Loan Amount

Make sure that you have checked the loan qualifications and that you qualify 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. 

5. 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.

6. Shop Around and Compare Fees 

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

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

7. Get Your Paperwork Ready 

easy loan application - prepare the requirements

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 the latest or the most updated and that all information is true and correct.

8. 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.

9. 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. 

10. Never Skip Payments 

Missed payments will not just get you hit with a late payment fee, but 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 easy loan application, consider other factors when choosing a personal loan. Make sure that the monthly payments are something you can afford. 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.

Personal loan in the Philippines

Sources: 

Venus leads the blog content strategy and optimization at Moneymax as the Head of Editorial Content. She has 15+ years of experience in content marketing, corporate communications, and public relations. Venus graduated cum laude with a Journalism degree from the University of the Philippines Diliman. Before joining Moneymax, Venus had written informative guides and articles, specializing in personal finance and digital marketing. She also invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. A hardcore Hallyu Tita, she enjoys bingeing K-dramas on Netflix while bonding with her rescued cats. Follow Venus on LinkedIn.