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Safe and Fast Way to Borrow: 24 Legit Online Loans in the Philippines

Venus Zoleta

Venus Zoleta

Last updated December 13, 2023

In these financially trying times, the need to borrow money is understandable. Many Filipinos apply for traditional loans from banks and government agencies but fail to meet stringent loan requirements. Because of this, they explore informal financing options like online loans to fund their urgent cash needs.

Legit online loans in the Philippines offer borrowers an excellent alternative to conventional loans from formal lenders. They fill in the gaps in terms of convenience, ease of application process, minimal requirements, and speed of approval. Most legit online lenders even release loan proceeds in as fast as 24 hours.

But are online loans the right choice? Before you borrow money online, familiarize yourself with how these loans work and what your online loan options are.

What are Online Loans in the Philippines?

legit online loans - what are online loans in the philippines

An online loan is a non-traditional loan from a private lender or a digital bank that operates over the internet. Companies that offer online lending in the Philippines generally process loan applications through their mobile app or website.

Traditional banks and government loan providers conduct credit checks to evaluate a borrower’s capacity to pay. On the other hand, online lenders usually don’t and just require a valid ID or proof of income. 

It’s probably why, as per an analysis by consumer credit service Digido, digital lending platforms operating in the Philippines with iOS or Google Play applications had a combined total download of 14.2 million as of December 2022.[1]

From filling out an online loan application form to getting approved, legit online loans in the Philippines offer a more convenient form of borrowing. Loan proceeds are often released within 24 hours, and you can make repayments through the online lender’s partner banks and remittance centers.

However, note that the loan application procedure and requirements vary from one lender to another.

Pros and Cons of Online Loans in the Philippines

Are legit online loan apps in the Philippines a good option for those with financial emergencies? Keep reading to better understand the benefits and risks of online loans.

Online Loan Advantages

👍 24/7 Online Application

Online loans allow you to apply for a loan at any time of the day. Download the app or visit the website to start the loan application process. Online loans are a good choice for those who need money for an emergency.

👍 Minimal Eligibility and Document Requirements

Anyone with a valid government-issued ID can borrow from online loan apps. Just scan or take a photo of your ID. You may also need to take a selfie while holding your ID. 

Some require a certificate of employment if you’re borrowing a considerable amount or getting an online loan with monthly payments in the Philippines.

👍 Convenient Loan Application Process

You can start the loan application process with your smartphone or computer. No need to travel and visit a branch. Complete the online application form and upload photos of your valid IDs and other loan requirements.  

👍 Easy and Quick Approval

Are you looking for legit online loans with guaranteed approval in the Philippines? Since online lenders usually don’t ask for too many application documents, it’s quicker to apply and easier to be approved for this type of loan.

👍 No Bank Account Required

A bank deposit account is generally not required for online loans. Some online lenders may ask for your nominated bank account, though. But more often than not, loan proceeds are disbursed through partner remittance centers. 

Online Loan Disadvantages

👎 Higher Interest Rates

Online loans are more expensive than traditional personal loans. Remember, online loans are unsecured loans that don’t require collateral or guarantors. They're backed only by your creditworthiness. The high interest rates can take a toll on your finances if you fail to pay on time.

👎 Shorter Loan Payment Terms

Many short-term online loans are payable in only 30 days. You may opt for a longer loan term, but expect it to come with higher finance charges and interest rates.

👎 Risk of Losing Money to Scammers

Since online loans are processed without face-to-face interactions, there’s a possibility that you're dealing with a scammer instead of a lender’s authorized representative. Scammers can steal your identity through the information you provide during loan application.

👎 Risk of Harassment by Online Lenders

Some online lenders conduct unfair debt collection practices like debt shaming, which may be punishable under the current law.[2] Some may even post your details online. These lenders resort to such tactics for unpaid online loans.

How Do I Know If an Online Loan is Legit?

You might want to know: Are online loans safe?

Legitimate online loan providers are lending companies in the Philippines that are registered with the Securities and Exchange Commission (SEC). Upon registration, the lender must comply with the Corporation Code,[3] the Lending Company Regulation Act,[4] and other laws regulating lending companies.

In case of non-compliance to lending regulations, violations of the Data Privacy Law, harassment, cyber libel, or other forms of unfair debt collection, legit online lenders will answer to the SEC and other relevant government agencies, which may lead to the revocation of their license plus penalties.

What are the Legit Online Loans in the Philippines?

Minimize the risks associated with online loans by ensuring you deal only with an online lender duly licensed by the SEC.

We’ve compiled a list of the best online lending companies in the Philippines, meaning these providers are registered with the SEC as financing or lending companies. Check out the table below for an easy comparison of these legit online loans.

Loan Provider Loan Amount Loan Term Interest Rate
UNO Digital Bank Personal Loan
APPLY-NOW

 

₱10,000 to ₱200,000 6 to 36 months Starts at 2%
Radiowealth Finance
COMPARE NOW
₱10,000 to ₱3 million 3 to 36 months Subject to the lender's approval
Tala
COMPARE NOW
Up to ₱25,000 15 to 61 days 0.43% to 0.5% (daily service fee)
SB Finance
COMPARE NOW
₱10,000 to ₱2 million 3 to 48 months 1.25% to 2.5%
ACOM Up to ₱500,000 Starts at 6 months 4.988%
AEON Credit Service Depends on credit evaluation 6 and 12 months 2.25%
Asialink Depends on appraised value of the asset  Up to 48 months Starts at 1.5%
Atome ₱500 to ₱50,000 Up to 12 months Starts at 1.75%
Blend PH ₱10,000 to ₱3 million 12 to 36 months 1% to 8%
Cash Mart ₱3,000 to ₱150,000 Weekly, biweekly, and monthly 0.06% to 1% per day
Cashalo  ₱1,000 to ₱7,000 Up to 90 days Starting at 3.95%
Digido ₱1,000 to ₱25,000 Contact the lender for info 0% to 1.5%
Esquire Financing Up to ₱10 million Contact the lender for info Subject to the lender's approval
Finbro ₱1,000 to ₱50,000 12 months  0% to 6% 
First Circle Up to ₱20 million Up to 12 months 0.99% to 2.49%
GDFI Starts at ₱10,000 Starts at 12 months Starts at 1.1%
GLoan Up to ₱125,000 Up to 24 months 1.59% to 6.57%
Home Credit ₱3,000 to ₱150,000 6 to 60 months Starts at 1.83% 
JuanHand Up to ₱15,000 Up to 3 months 9% to 12%
Moneycat ₱500 to ₱20,000 3 to 6 months 11.9% per month
Online Loans Pilipinas ₱1,000 to ₱7,000 for first-time borrowers; up to ₱20,000 for repeat borrowers Starts at 10 days None for first-time borrowers
SLoan Up to ₱100,000 3 to 12 months 1% to 5%
UnaCash ₱1,000 to ₱50,000 2 to 6 months 0% to 16%
Vidalia ₱15,000 to ₱500,000 2 to 12 months 4% to 6%

 

📌 UNO Digital Bank Personal Loan

UNOBank_Loan_Main_KV_(Sep_2023)_1200x350

This online loan is offered by UNOBank, one of the first neobanks in the Philippines with its products and services entirely online. As such, you need to only download the UNO Digital Bank mobile app for account opening or loan applications. 

Compared to most online lenders, UNO Digital Bank Personal Loan offers a higher loan amount and a longer repayment period with no collateral or guarantors needed. 

UNO Digital Bank Personal Loan Features

  • Loan amount: ₱10,000 to ₱200,000
  • Interest rate: As low as 2%
  • Loan term: Six to 36 months
  • Application requirements:
    • Active email address and mobile number 
    • A selfie and one valid ID 

Read more: UNOBank Loan Review: Can This Digital Bank Meet Your Cash Needs?

APPLY-NOW

📌 Radiowealth Finance Cash Loan

legit online loans - RFC

Radiowealth Finance Cash Loan Features

  • Loan amount: ₱10,000 to ₱3 million
  • Interest rate: Subject to the lender's approval
  • Loan term: Three to 36 months
  • Application requirements:
    • Filipinos at least 21 years old living in the Philippines for at least two years
    • Employees earning at least ₱18,000 monthly and working for at least one year with the current employer
    • Professionals in the same profession for at least one year and with an updated PRC license
    • Self-employed must have at least one year of profitable operations
    • Two valid IDs
    • Proof of billing
    • Proof of income
    • Residential/Business/Employment address map
    • For employees: Certificate of employment
    • For self-employed: Barangay/Business/DTI Permit

legit online loans - rfc loan

📌 Tala Loan

legit online loans - TALA

This list of legit online lending apps wouldn’t be complete without Tala, one of the leading loan apps in the Philippines. Tala Philippines lets Filipinos borrow money quickly via its mobile app. Borrowers can expect approval in less than five minutes and receive funds within 24 hours after their Tala loan application.

Tala Loan Features

  • Loan amount: Up to ₱25,000
  • Interest rate: 0.43% to 0.5% (daily service fee)
  • Loan term: 15 to 61 days
  • Application requirements:
    • Filipinos at least 18 years old
    • Passport/Driver’s license/Postal ID/PRC ID/UMID/SSS ID/Voter’s ID
    • Android smartphone with OS 4.1 or higher

legit online loans - compare loans

📌 SB Finance Online Loans

legit online loans - SB Finance

One of the best online loan apps in the Philippines is the Zuki mobile app from SB Finance, Inc., in partnership with Security Bank and Krungsri. This legit online loan app allows you to sign up for a personal, car collateral, and motorcycle loan. It’s also one of the legit loan apps with low interest rates.

SB Finance Loan Features

  • Loan amount:
    • Car4Cash: ₱100,000 to ₱2 million
    • Hooloogan: ₱10,000 to ₱200,000
    • MotorsikLOAN: Up to ₱2 million
    • Personal loan: ₱30,000 to ₱2 million
  • Interest rate:
    • Car4Cash: 1.25% to 2%
    • Hooloogan: 2.5% 
    • MotorsikLOAN: 1.2% to 2.47% 
    • Personal Loan: 2%
  • Loan term: Three to 48 months
  • Minimum application requirements: 
    • Filipinos aged 21 to 65
    • Completely filled-out application form on the Zuki mobile app
    • Office or residential landline
    • Valid IDs
    • OR/CR
    • Proof of income
    • For the complete list of requirements for every type of loan, check the SB Finance website

legit online loans - compare loans

📌 ACOM REVOMAX Loan

legit online loans - ACOM

ACOM Consumer Finance Corporation is Japan's leading personal loan provider and was launched in the Philippines in 2017. With ACOM loans, such as the REVOMAX, you can borrow an additional amount within the repayment period as long as it’s within the credit limit. Your credit limit can also be increased depending on the evaluation.

ACOM REVOMAX Loan Features

  • Loan amount: Up to ₱500,000
  • Interest rate: 4.988%
  • Loan term: Starts at six months
  • Application requirements:
    • Filipinos aged 21 to 65
    • Employees working for at least three months with a monthly salary of at least ₱10,000
    • Must be presently residing in Luzon
    • Company landline number and personal mobile number
    • Valid ID
    • Original payslips/Certificate of compensation/ITR
    • Proof of TIN or SSS

📌 AEON Personal Loan

AEON Credit Service (Philippines) Inc. is another loan provider that can help with your instant cash needs. Established in 2013 in the Philippines, it’s more well-known for its installment loans for purchasing furniture, appliances, and electronic products. But it also offers an online personal loan via its mobile app for existing customers with an AEON Retention Code.  

AEON Online Loan Features

  • Loan amount: Will depend on credit evaluation
  • Interest rate: 2.25%
  • Loan term: Six and 12 months
  • Application requirements: 
    • Two valid IDs
    • Proof of income 
    • Proof of billing

📌 Asialink Finance Corporation Loans

legit online loans - asialink

Asialink Finance Corporation is a private lending company that offers a variety of collateral loans to suit different needs, such as Sangla OR/CR, Vehicle Financing (brand-new or secondhand), and Doctor's Loan.

One of the best things about this lender is that it does not require borrowers to surrender their cars. Plus, they still accept 2005 car year models and above!

Asialink Loan Features

  • Loan amount: Depends on the appraised value of your asset
  • Interest rate: As low as 1.5% for OR/CR Loan and secondhand car loan; 1.75% for Doctor's Loan
  • Loan term: Up to 48 months for OR/CR Loan and Vehicle Financing; 12 months for Doctor's Loan
  • Application requirements:
    • Filipino citizen
    • Between 21 and 60 years old
    • Stable source of income
    • Valid contact number
    • Other requirements depending on the loan you're applying for, such as a copy of OR/CR, Offer to Sell/Purchase Agreement, PRC ID, and more

Read more: Asialink Loan Review: Read This Before You Submit Your Application

📌 Atome

Atome is an online lending platform registered with the SEC as NeuronCredit Financing Company, Inc., a Singapore-based fintech firm that established its Philippine operations in late 2018. 

Atome is known for its Buy Now, Pay Later feature, which you can use to shop in-store and online and pay in three interest-free installments. You can download the Atome loan app in the Philippines on iOS and Android.

Atome Cash Loan Features

  • Loan amount: ₱500 to ₱50,000
  • Interest rate: Starts at 1.75%
  • Loan term: Up to 12 months
  • Application requirements:
    • Filipinos at least 18 years old
    • Active mobile number
    • Valid ID with full legal name
    • Valid email address
    • A valid debit or credit card

📌 Blend PH Loan

legit online loans - blend

Blend PH lets you apply for various loans through its website. It facilitates a hassle-free online application and quick approval and loan processing.

Blend PH Loan Features

  • Loan amount:
    • Personal loan: ₱50,000 to ₱2 million
    • Franchise loan: ₱50,000 to ₱2 million
    • ORCR loan: ₱10,000 to ₱3 million
    • Business loan: ₱100,000 to ₱2 million
    • Fast loan: ₱10,000 to ₱40,000
    • Seafarer loan: ₱50,000 to ₱500,000
    • Educational loan: ₱20,000 to ₱25,000
    • Salary loan: Equivalent to one month’s salary
  • Interest rate: Risk-based interest (1% to 8% per month, depending on the loan)
  • Loan term: 12 to 36 months
  • Minimum application requirements: 
    • Valid IDs
    • Proof of income
    • Bank certificates
    • ORCR for Auto Sangla Loan
    • For the complete list of requirements, check the Blend PH website

📌 Cash Mart Personal Loan

legit online loans - Cashmart

Cash Mart Philippines is one of the better-known online lenders today, coming from a leading moneylender in Singapore. Its online loan products include personal, salary, car, and OFW loans.

Cash Mart Personal Loan Features

  • Loan amount: ₱3,000 to ₱150,000
  • Interest rate: 0.06% to 1% per day depending on the loan term
  • Loan terms:
    • Weekly (due date every seven days)
    • Biweekly (due date every 14 days)
    • Monthly (due date every 28 days)
  • Application requirements:
    • Salaried and commission-based employees/self-employed/taxi or Grab drivers at least 21 years old
    • Valid government-issued ID
    • Latest one-month payslip/statement of account
    • Latest proof of billing

📌 Cashalo Cash Loan

legit online loans - Cashalo

Check out the Cashalo Cash Loan if you’re looking for fast and convenient access to digital credit. Download the Cashalo app on your mobile device, complete the online form, and await your loan approval. There's no collateral required, and you can receive your loan proceeds in one to three days. 

Cashalo Cash Loan Features

  • Loan amount: ₱1,000 to ₱7,000
  • Interest rate: Starting at 3.95%
  • Loan term: Up to 90 days 
  • Application requirements:
    • At least 21 years old
    • Employed/with steady income  
    • Valid government-issued ID
    • Cashalo app

📌 Digido Instant Online Loan

legit online loans - Digido

Is Digido legit or not? Don’t worry—it’s a legit online lender in the Philippines with a highly innovative and fully automated online portal. Borrowers can receive their loan proceeds in just a few hours. You can even get a first loan at 0% interest for a seven-day term. 

Digido Online Loan Features

  • Loan amount: ₱1,000 to ₱25,000
  • Interest rate: 0% for new customers; not more than 1.5% daily for repeat customers
  • Application requirements: 
    • Filipino citizens 21 to 70 years old 
    • Valid government-issued ID
    • Active and registered mobile number
    • Digido registration

Read more: Digido Loan Review: How Reliable is This Online Lending Platform? 

📌 Esquire Financing Business Loan

legit online loans - Esquire

Esquire Financing, Inc. is a financing company that provides no-collateral business loans to small and medium enterprises (SMEs) in the Philippines. It allows entrepreneurs to borrow money to increase work capital, grow businesses, or bridge cash flow gaps.

Esquire Financing Business Loan Features

  • Loan amount: Up to ₱10 million
  • Interest rate: Subject to the lender's approval, depending on the loan amount and repayment term
  • Application requirements: 
    • Business with at least one year of operation and checking account active for at least six months. Check the Esquire Financing website for its complete list of loan requirements

📌 Finbro Loan

legit online loans - finbro

Finbro is a popular online lending platform. It promises an easy application process—you just need to submit a handful of requirements, after which you can get approved within a few minutes! You don't need to worry about securing collateral, either.

It's handy if you just need a small amount of cash quickly, perhaps for paying bills, groceries, tuition fees, and other emergency expenses. 

Finbro Loan Features

  • Loan amount: ₱1,000 to ₱50,000
  • Interest rate: 0% for your first loan; 6% after
  • Loan term: 12 months 
  • Application requirements:
    • Filipino citizen
    • Must be between 20 and 70 years old
    • Employed or with a regular source of income
    • Valid ID 
    • Bank account
    • Selfie

Read more: Finbro Loan Review: Things to Know Before You Borrow Money

📌 First Circle Business Loan

legit online loans - First Circle

First Circle is an SEC-registered financing company under First Circle Growth Finance Corp. It focuses on providing non-collateral credit lines to B2B companies or businesses that serve other businesses or government agencies. Borrowers can receive funds in their accounts within five business days.

First Circle Business Loan Features

  • Loan amount: Up to ₱20 million
  • Interest rate: 0.99% to 2.49%
  • Loan term: Up to 12 months
  • Application requirements:
    • Business annual revenue of at least ₱5 million
    • Filipino or Philippine resident
    • DTI/SEC Certificate
    • BIR Certificate of Registration

📌 GDFI Loans

legit online loans - GDFI

Global Dominion Financing, Inc. (GDFI) is an SEC-licensed financing company offering a wide range of online loans, such OR/CR, car financing, truck financing, doctor's loan, and sangla titulo for business owners. Loan requirements are minimal, and processing takes only 24 hours.

GDFI Loan Features

  • Loan amount: Starts at ₱10,000
  • Interest rate: Starts at 1.1%
  • Loan term: Starts at 12 months
  • Application requirements:
    • Valid IDs
    • Active contact number
    • Copy of OR/CR
    • Proof of income: payslips, remittance receipts, business permits
    • Proof of billing: electric or water bill
    • Visit the GDFI website to view the complete list of loan requirements

📌GLoan

legit online loans - GDFI

If you’re a prequalified user, you can see the GLoan option in your GCash account. Once you activate your GLoan feature, you can instantly borrow up to ₱125,000 with no additional documents. The funds will also be instantly credited to your GCash wallet. 

To unlock GLoan, increase your GScore by always keeping your GCash wallet funded and using GCash more often. 

GLoan Features

  • Loan amount: Up to ₱125,000
  • Interest rate: 1.59% to 6.57%
  • Loan term: Up to 24 months
  • Application requirements:
    • Filipinos 21 to 65 years old
    • Fully verified GCash account 
    • Good credit record and no history of fraudulent transactions

📌 Home Credit Cash Loan

Home Credit is quite popular in the country for its product loan, which provides in-store financing services for appliance or gadget purchases. The SEC-registered financing company (under the corporate name HC Consumer Finance Philippines, Inc.) also offers a cash loan—one of the most straightforward online loans to get in the Philippines—through the My Home Credit app. 

If you’re looking for legit loan apps in the Philippines, you have to submit only two valid IDs via the Home Credit app.

Home Credit Cash Loan Features

  • Loan amount: ₱3,000 to ₱150,000
  • Interest rate: Starts at 1.83% 
  • Loan term: Six to 60 months
  • Application requirements: Two valid IDs (with at least one government-issued ID showing the borrower's address)

📌 JuanHand Online Cash Loan

legit online loans - JuanHand

Another fintech platform in the Philippines offering fast and hassle-free access to credit is JuanHand. With over 5.7 million app downloads, 4 million successful loans, and 1.7 million active loans, it's one of the leading and legit online providers you can check out for cash emergencies. 

JuanHand Online Cash Loan Features

  • Loan amount: Up to ₱15,000
  • Interest rate: 9% to 12%
  • Loan term: Up to three months
  • Application requirements:
    • A Filipino citizen between 20 and 60 years old 
    • Stable source of income
    • Valid government-issued ID 
    • JuanHand loan app

📌Moneycat

Payday still days away? If you’re looking for a quick, hassle-free loan to help pay for minor cash needs or emergencies, another good option is a Moneycat loan. This online payday loan only requires a short application, verification, and approval process. The money will be transferred to your bank account within a day. 

Moneycat Loan Features

  • Loan amount: ₱500 to ₱20,000
  • Interest rate: 11.9% per month (maximum APR of 145%) 
  • Loan term: Three to six months
  • Application requirements:
    • A Filipino at least 22 years old 
    • Currently residing in the Philippines 
    • Employed or has a stable source of income
    • Has a valid government-issued ID and personal bank account
    • Moneycat loan app

📌 Online Loans Pilipinas Cash Loan

Established in 2017, Online Loans Pilipinas Financing, Inc. specializes in online micro and consumer financing. Is Online Loans Pilipinas legit? Yes, it’s an SEC-registered fintech company, so you can rest assured you’re dealing with a legitimate loan provider. 

Loan processing takes one to two days, and you can receive your loan proceeds within 24 hours in your bank account.

Online Loans Pilipinas Cash Loan Features

  • Loan amount: ₱1,000 to ₱7,000 for first-time borrowers; up to ₱20,000 for repeat borrowers in good credit standing
  • Interest rate: None for first-time borrowers
  • Loan term: Starts at 10 days
  • Application requirements:
    • Employed or with a steady income source
    • 22 to 70 years old
    • Valid ID
    • With a valid e-wallet or bank account

Read more: Online Loans Pilipinas Review: Pros, Cons, and How to Apply

📌 SLoan

Are you a frequent Shopee user? Check out SLoan, a credit line extended to select Shopee users that allows you to obtain a cash loan online conveniently. Withdraw a minimum of ₱2,500 up to the maximum amount of your approved credit limit. You can withdraw it to your Shopeepay wallet or other e-wallets and bank accounts via fund transfer.  

SLoan Features 

  • Loan amount: Up to ₱100,000 (depending on the internal credit assessment)
  • Interest rate: 1% to 5%
  • Loan term: Three to 12 months
  • Application requirement: Activated SLoan and ShopeePay wallet (for cashing out) on your Shopee account

📌 UnaCash Loan

legit online loans - UnaCash

UnaCash is an SEC-licensed financing company where you can get a personal credit line of up to ₱50,000. Apply for a loan via its mobile app (no need to go to the bank or submit a lot of paperwork) and get approved within 24 hours. 

UnaCash Online Loan Features

  • Loan amount: ₱1,000 to ₱50,000
  • Interest rate: 0% to 16%
  • Loan term: Two to six months
  • Application requirements: UnaCash mobile app

📌 Vidalia Online Loans

legit online loans - UnaCash

Vidalia Lending Corp. has provided salary, personal, and business loans since 2008. It works as a peer-to-peer platform where funds come from investors and not directly from the company itself. Vidalia conducts credit evaluation via a phone call with the borrower and disburses funds within two to five days.

Its products include the Salary Loan, Personal Loan, Business Loan, e-Commerce Loan, and Small Business Loan. 

Vidalia Online Loan Features

  • Loan amount: ₱15,000 to ₱500,000
  • Interest rate: 4% to 6% per month
  • Loan term: Two to 12 months
  • Minimum application requirements: 
    • Filipinos aged 20 to 60
    • Two valid IDs (Company ID/passport/driver's license/UMID/SSS ID/GSIS ID)
    • Proof of billing
    • For the complete list of requirements for every type of loan, check the Vidalia website

Helpful Tips on How to  Choose Legit Online Loans 

An online lending scam is usually committed by individuals falsely representing a legit online lender. Scammers typically offer an easy borrowing experience by asking for money first and stealing your personal information. 

Make sure to keep these tips in mind: 

  • Before you proceed to the loan application, read and understand its terms and conditions. 
  • Ensure that your personal information and valid IDs will only be forwarded to legitimate recipients for verification purposes only. 
  • Don’t transact with individuals you only met online. 
  • Never click on unknown links in messaging apps, emails, or websites. 
  • Never disclose your OTPs or MPIN to anyone.

What to Do When You’re Scammed by an Illegal Online Lender

If you fall victim to any company engaged in illegal online lending, you may file a complaint against the erring lender through the SEC.

The SEC accommodates only complaints against lending companies with Certificates of Authority to Operate (CA).[5] If you have a complaint against a company without a CA, you may email the Enforcement and Investor Protection Department at epd@sec.gov.ph.

Some things to remember when filing your complaint with the SEC:

  • Fill out the Complaint Form completely and accurately.
  • Don’t forget to attach all relevant documents/evidence/proof to support your complaint.
  • Submit one Complaint Form per respondent company.
  • Provide a valid government-issued ID.
  • Also, provide evidence/proof that you have exhausted all remedies against the company concerned before filing your complaint with the SEC.

Final Thoughts

Online loans in the Philippines can be an easy solution for financial emergencies. They offer an easy application and fast approval process and require fewer documents. If you understand how they work and feel you’re responsible enough to pay your loans on time, online lending apps may be the perfect solution.

Once you’ve come up with a shortlist of legit online loans in the Philippines, compare them to find the lowest rate and most favorable terms. It also helps to read the terms and conditions and loan agreement thoroughly. This way, you’ll know if there are any hidden charges or crucial information before you apply for an online loan.

Find the Best Loan That Fits Your Needs

No need to look far when you're searching for online loans. Here at Moneymax, it's easy to compare loans, find the right product, and apply for it.

Check out more great options from reputable lenders in the Philippines:

Personal Loan 
Loan Amount

Monthly Add-on Rate

Minimum Annual Income

Approval Time

UnionBank Personal Loan
unionbank-logo-300x92
Compare Now
Up to ₱2 million
1.29% 
₱250,000
As fast as 5 minutes
UNO Digital Bank Personal Loan
uno digital bank
Compare Now
₱10,000 to ₱200,000
2%
₱180,000
As fast as 7 banking days
Metrobank Personal Loan
metrobank
Compare Now
₱20,000 to ₱1 million
1.25% to 1.75%
₱350,000
7 days
BPI Personal Loan
bpi logo
Compare Now
20,000 to  ₱3 million
1.2%
180,000
5 to 7 banking days
RFC Loan
easyrfc-1
Compare Now
10,000 to  ₱150,000
4%
120,000
As fast as 24 hours
Tonik Quick Loan
tonik
Compare Now
₱5,000 to ₱50,000
Starts at 4.26%
₱180,000
As fast as 1 hour
Tala Loan
tala

Compare Now

₱1,000 to ₱15,000
15%
None
24 hours
HSBC Personal Loan
2560px-HSBC_logo_(2018).svg
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30,000 to ₱500,000
0.65%
168,000
5 to 7 banking days
CIMB Personal Loan
CIMB-Logo-1
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30,000 to ₱1 million
1.95%
180,000
As fast as 24 hours
Maybank Personal Loan
Maybank logo 2011-1
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50,000 to ₱1 million
1.3%
300,000
5 to 10 banking days
RCBC Bank Personal Loan
rcbc-logo-2
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50,000 ₱1 million
1.3%
360,000
5 to 7 banking days
SB Finance Personal Loan
SB-Finance-e1631324202933

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₱30,000 to ₱2 million
2%
₱180,000
5 banking days
CTBC Bank Personal Loan
ctbc-Mar-28-2022-12-20-39-62-PM
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₱500,000 to ₱2 million
1.39% to 1.79%
180,000
1 to 5 banking days
PSBank Personal Loan
PSBank-300x207-1
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₱20,000 to ₱250,000
1.75% or 2.5% 
₱180,000
5 to 9 banking days

Sources:

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Venus has almost 20 years of combined experience in content marketing, SEO, corporate communications, and public relations. Most of her career was spent creating informative articles on personal finance and digital marketing. She also invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. Venus graduated cum laude with a Journalism degree from the University of the Philippines Diliman. A hardcore Hallyu Tita, she loves bingeing Korean shows on Netflix while bonding with her cats. Follow Venus on LinkedIn.

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