Salary Loans to Consider for Financial Emergencies

by Venus Zoleta, on category "Personal Loan"

April 19, 2018

Best Payday Loans in the Philippines |

Salary loans with their quick application, guaranteed approval with no credit checking, and fast-track cash disbursement—can help cash-strapped Filipinos meet their urgent financial needs. More so when it’s Petsa de Peligro and there’s an emergency, like sudden hospitalization in the family or overdue bills.

Also called payday loans or quick cash loans, these loans from online cash lenders in the Philippines are easier and faster to get than personal loans from banks. Simply apply and submit a few requirements online, and receive the money within 24 hours.

Unlike pawnshop loans that require collateral such as jewelry and gadgets, salary loans don’t ask for any collateral. Rather, they require only proof of income or billing.

Best Payday Loans in the Philippines |

Photo by Marco Verch via Flickr, Creative Commons

However, instant loans in the Philippines have higher interest rates (from 3% to 20% or even higher), lower loanable amounts (from PHP 1,000 to PHP 50,000), and shorter repayment terms (maximum of 30 days) than personal loans and pawn loans.

What are the Best Salary Loans to Apply For?

Many private lenders like Robocash and Tala offer salary loans in the Philippines. Be warned, though: some lenders charge extremely high interest rates of over 60%, making you pay almost double your loan amount.

To help you avoid loan sharks or predatory lenders, we’ve filtered the choices down to three of the best instant loans in the Philippines. These short-term loans have reasonable interest rates, fast approval and funding times, and positive customer feedback. They come from legitimate financial companies that are licensed by the Securities and Exchange Commission (SEC).

Best Instant Loans ComparisonCash Mart Salary LoanLoan Ranger Cash Loan Tala Loan
Loan amount PHP 5,000 – PHP 50,000PHP 3,000 – PHP 10,000
  • PHP 1,000 (for new borrowers)
  • Up to PHP 10,000 (for repeat borrowers with a good record)
Interest rate 0.8% – 22.4%3.25% – 19.5%
  • 11% (for weekly repayments within 21 days)
  • 15% (for one-time repayment within 30 days)
Loan term
  • 3 – 5 weeks (weekly repayments)
  • 2 – 4 weeks (bi-weekly repayments)
  • 28 days (one-time repayment)
5 – 30 days
  • 21 days (paid weekly)
  • 30 days (paid once)
Approval timeWithin 24 hoursOne banking dayLess than 5 minutes
Funding time Within 24 hours after approvalInstant funding upon approval or up to one banking day (depending on the chosen bank)Within one business day

Cash Mart Salary Loan

Cash Mart Payday Loans Philippines |

Cash Mart Philippines is owned by a leading Singaporean online lending company that has been providing quick cash loan services for almost 50 years. It’s SEC-registered with an office in Taguig City. The lender offers quick loan processing, approval, and disbursement of all its loan products, including the Cash Mart Salary Loan.


  • Low interest rate of 0.8% with the weekly loan term (repayment amount divided into three weekly schedules)
  • Secure online transactions with the website’s 256-bit verified encryption
  • Convenient and secure access to funds via its partner-banks, including BDO, BPI, and Metrobank
  • Many loan repayment channels to choose from: Bayad Center, 7-Eleven, LBC, SM Payment Center, etc.
  • Many positive customer reviews, i.e., fast transaction and excellent customer service


  • High interest rate of 22.4% with the bi-weekly loan term (repayment amount divided into three bi-weekly schedules)
  • Available only to select areas in the Philippines, mostly in the Greater Manila Area

personal loan from gdfi

Who can apply for a Cash Mart Loan?

Filipinos who meet the following qualifications can apply for a salary loan with Cash Mart:

  • Aged 21 to 50
  • Regular employees, self-employed professionals, and OFWs
  • Currently living in one of these areas:
    – Metro Manila
    – Bataan
    – Batangas
    – Bulacan
    – Cavite
    – Laguna
    – Pampanga
    – Rizal
    – Tagaytay
    – Tarlac
    – Zambales

What are the Cash Mart Loan requirements?

  • One valid government ID (UMID, NBI Clearance, Driver’s License, OFW ID, etc.)
  • Company ID
  • Latest one-month payslip
  • Two utility billing statements

How to apply online for a Cash Mart Salary Loan

  1. Click on the “Apply now” button and fill out the online loan application form.
  2. Wait for a call from a Cash Mart loan officer for verification of your eligibility and documents.
  3. Sign the contract and expect the fund to be deposited into your bank account.

Loan Ranger Cash Loan

Loan Ranger Payday Loans Philippines |, owned by SEC-licensed First Digital Finance Corporation, claims to be the first lender to provide salary loans in the Philippines.

The lender has mixed customer reviews: many customers are happy with its easy and hassle-free online loan application process, fast cash disbursement, and convenient repayment channels. But they noted that Loan Ranger took more than 24 hours to approve loans (though succeeding loan approvals are faster) and could offer more options for repayment channels.


  • Fast cash disbursement immediately after approval. Depending on your bank, you may get your money in real time.
  • Low interest rate of 3.5% when you borrow PHP 10,000 and pay it off within five days
  • Convenient online loan repayment via or bank deposit


  • High interest rate of 19.5% when you pay off your instant loan in 30 days
  • Requires using your Facebook account to apply for a loan. Manage your Facebook privacy settings beforehand to avoid data privacy issues.

Who can apply for a Loan Ranger Cash Loan?

  • Over 18 years old
  • Stable income, whether as a regular employee, freelancer/home-based worker, or small/micro business owner

What are the Loan Ranger Cash Loan requirements?

  • One valid government ID
  • A Facebook account
  • Any of the following proof of income for the past three months:
    – Payslips
    – Bank statements
    – Online banking screenshots (Note: Be careful not to share any private information.)

How to apply online for a Loan Ranger Cash Loan

  1. Click on the “Apply now” button and fill out the online loan application form.
  2. Wait for an email notification about your loan status.
  3. Wait for the money to be deposited directly to your bank account.

Tala Loan

Check out Tala Philippine's website

Tala is a California-based mobile tech company that provides financial access to “underserved people” worldwide. One of Forbes’ top 50 fintech companies, Tala currently operates in four developing countries, namely the Philippines, Kenya, Mexico, and Tanzania. Tala offers instant loans in the Philippines via a mobile app for loan application, status tracking, and customer support.


  • Convenient, on-the-go loan application and status tracking via a smartphone app
  • Few requirements: only one valid ID will suffice
  • Fastest loan approval in under 5 minutes
  • Secure transactions; requires a four-digit PIN code to access the app
  • Easy cash disbursement via e-wallet, bank deposit, and Padala Centers
  • Easy loan repayment options: 7-Eleven,, Cebuana Lhuillier, or M Lhuillier
  • High customer satisfaction: 4.7 rating on Google Play and positive customer reviews i.e., fast transaction and approval


  • Available only to Android users
  • First-time borrowers can loan only PHP 1,000, though the loanable amounts increase in increments of PHP 500 as you keep repaying on time
  • Requires using your Facebook account to apply for a loan
  • 8% penalty fee for late repayment

Who can apply for a Tala Loan?

Filipinos with an Android smartphone and a Facebook account can apply for instant loans from Tala Philippines.

What are the Tala Loan requirements?

  • A Facebook account
  • Any of these valid government IDs:
    – Passport
    – Postal ID
    – Driver’s license
    – Voter’s ID
    – PRC card

How to apply online for a Tala Loan

  1. Download the Tala Philippines app and then register.
  2. Open the app and click on “Apply Now.”
  3. Fill out the loan application form.
  4. Sign into your Facebook account.
  5. Submit a photo or scanned copy of your valid ID.
  6. Accept the loan offer and choose your preferred repayment option.

What are the Alternatives to Salary Loans in the Philippines?

Getting salary loan should be the last resort—not the first option—when borrowing money in the Philippines. Never abuse them, too. Or else, you’ll stress yourself even more with your loan repayments.

Before you decide to apply for a quick cash loan, make sure you do it for the right reason and you’ve explored all other options. These quick cash loans are good only during an emergency or any unforeseen event when you’ve exhausted all means to find enough money. If you use them for your daily living expenses, you’ll just bury yourself in debt while paying very high interests.

Need money to buy a car, have your dream wedding or vacation, or start a business? Salary loans, with their extremely high interest rates and short loan terms, are the worst option. Instead, save money by getting a personal loan with a low interest rate (ranging from 1.20% to 1.94%) from a reputable bank. Compare personal loans in the Philippines here.

Final Thoughts

Salary loans are convenient, accessible, and useful when you’re in dire need of money. When getting one is your only option, make sure to compare different cash loans, check the fine print, use an online loan calculator, and pick the instant loan with the lowest interest rate for your chosen loan term.