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Lazada Loan: What Online Shoppers Need to Know

Jay Pagkatotohan

Jay Pagkatotohan

Last updated September 02, 2021

Everyone shops online now—that’s a fact of life! You can cop the newest kicks on your laptop, purchase flight tickets on your tablet computer, and even buy groceries on your smartphone.

The best thing about doing online shopping these days? Some platforms have a loan facility at the ready! This means that you can now shop without a credit or debit card. You also don’t have to worry about where you should find cash in case you choose COD as your payment option.

Lazada, one of the biggest online shopping platforms in the Philippines, offers a short-term lending program called Lazada Loans. Essentially, this is a Buy Now, Pay Later payment option that cash-strapped shoppers can use in case they need to purchase something right away.

If you want to learn more about getting a Lazada loan, you’ve come to the right place. Here’s your comprehensive guide to this program.

What are Lazada Loans?

Launched in 2019 during the Lazada 9.9 Sale that year,[1] Lazada Loans provide shoppers with an alternative way to pay for their online shopping, may it be for gadgets or grocery items. Lazada partnered with accredited mobile lenders to make this feature possible.

A Lazada Loan allows shoppers to buy now and pay later with easy installment plans minus the credit card requirement. You can apply for a loan directly through the Lazada website or app and have your application approved within the same day. Once approved, you can use the loan amount to buy items from Lazada or pay your bills within the app.

What are the Benefits of Lazada Loans?

Lazada Loan - features and benefits

If you’re planning to make a small-ticket purchase, Lazada Loans can help you fund it. You can borrow money as high as ₱50,000, depending on the lender.

1. Easy Application

The entire process happens within the Lazada app. No need to head somewhere to apply and withdraw your proceeds.

2. Low Interest Rate

Lazada has installment partners that offer a 0% interest loan for first-time lenders. Succeeding loans, on the other hand, will be subject to normal interest rates, which are usually from 2% to 5%.

3. Fast Approval

The loan application process is purely digital. Given that, Lazada says that the approval lead time can be as quick as instant to as long as 24 hours.

4. Accredited Lenders

Lenders are thoroughly selected by Lazada, so you have every assurance that you won’t be scammed. Each lender has its own advantages, which you must check to land the provider that suits you best. 

5. Flexible Installment Plan

You can either choose to pay in as early as 15 days or go for a 24-month term. With these options, it’s possible to pick a payment term that won’t put a strain on your cash flow.

What are the Disadvantages of Lazada Loans?

A Lazada loan is not without a share of drawbacks. A loan is still a loan, and if you’re not responsible enough, you may wind up in a spiral of financial problems. So before you apply, consider the following scenarios.

1. You May Earn Unnecessary Debts

The allure of online shopping is irresistible. Combine big discounts with a high credit limit and impulsive shopping habits, and you’ll be well on your way to accumulating overwhelming debts. The only thing that can help you deal with it is self-control.

2. There are Other Fees to Cover

While some interest rates may be considerably low, you’ll still find yourself covering the processing fees. You must also watch out for penalties. Factor in these costs when you’re computing your repayments.

3. It May Affect the Way You Deal with Other Loans

The money that could have gone to your house mortgage and other financial obligations will have to be put toward your online shopping loans. This is a likely scenario if you have applied for multiple Lazada Loans.

Lazada Loan Requirements

Lazada Loan - Lazada Wallet

Applying for a Lazada Loan is easy. Generally, all you need are a smartphone or computer connected to the internet and the requirements below. Keep in mind, though, that borrower requirements may vary from lender to lender.

  • Valid government-issued ID (passport, driver’s license, UMID, etc.)
  • Proof of income
  • Proof of billing (depending on the lender)
  • Screenshots of your Lazada account
  • A Lazada account with an activated Lazada Wallet

Prioritize the activation of your Lazada Wallet since this is where the loan proceeds will be credited to after your application has been approved. Here’s how to do it:

How to Activate Your Lazada Wallet

  1. Open the Lazada app and login to your account.
  2. Tap the Wallet icon on the upper right corner.
  3. Tap the Activate My Wallet button.
  4. Verify your phone number and tap "Get Code."
  5. Input the OTP you received thru text and tap Verify Mobile Number.
  6. Once your number is verified, you’ll be redirected to your Lazada Wallet.
Personal loan in the Philippines

How to Apply for a Lazada Loan

Once you’re done preparing your requirements, go back to your Lazada Wallet dashboard and tap Loans. You’ll then be redirected to the Lazada Loans page. From there, choose an accredited lender. Note that each lender offers different loan amounts and some might ask for additional requirements.

Lazada Loan Providers in the Philippines

You can get your Lazada loan from the platform’s accredited partners. As these lenders have different terms and conditions, it would be wise to compare them to find the one that perfectly suits your needs.

Check out the following details, so you can find the best Lazada loan partner.

🛒 LazPayLater

Lazada Loan - how does lazpaylater work

LazPayLater is Lazada’s new credit payment method that allows you to shop and pay for your purchases up to 45 days later with 0% interest. You may also avail of the installment plan of up to 12 months. The catch is that this is only open to pre-qualified users.

LazPayLater Loan Features

  • Loan amount: Up to ₱15,000
  • Loan terms: 45 days to 12 months
  • Interest rate: 0% (for 45-day term) / depends on the installment term

Lazada LazPayLater Application Requirement

LazPayLater requires only one valid government-issued ID, such as passport, driver’s license, UMID card, or SSS ID.

LazPayLater Loan Application Steps

  1. On your Lazada app dashboard, tap “LazPayLater” under the “Lazada Wallet” section.
  2. On the next page, click the “Apply” button.
  3. Follow the prompts and then submit the application.
  4. Wait for the confirmation of your application. It usually takes from five minutes to 24 hours.

🛒 Billease

Lazada Loan partners - Billease

Operating under the fintech company First Digital Finance Corporation, BillEase is a Buy Now, Pay Later service offering credit limits that can be used at its more than 800 merchant partners, including Lazada. If you’re a repeat customer, you can enjoy an extended Billease loan term.

Billease Features

  • Loan amount: ₱2,000 to ₱40,000
  • Loan terms:
    • Two to six months for first-time customers
    • 12 to 24 months for repeat customers
  • Interest rate: 3.49% per month

Billease Loan Application Requirements

  • Must be at least 18 years old and have stable source of income
  • One valid government-issued ID
  • Proof of billing
  • Proof of income

Billease Loan Application Steps

  1. From the Lazada Loans page, tap Billease.
  2. Choose your loan amount and repayment terms before tapping Apply.
  3. Submit your personal information and upload your requirements.
  4. Wait for approval. It will take at least one (1) banking day.
  5. Once approved, your proceeds will be credited to your Lazada Wallet.

🛒 Tendopay

Lazada Loan partners - Tendopay

Tendopay provides online shoppers with a convenient installment plan through online vouchers. Note that you should purchase a voucher that’s equal to the amount of the item price. There will be no change provided.

Tendopay Features

  • Loan amount: ₱2,000 to ₱30,000 (will depend on the assessment of your application)
  • Loan terms: Two to 24 months
  • Interest rate: Starts at 2% per month. Will depend on the amount and term of the loan.

Tendopay Loan Application Requirements

  • Must be at least 18 years old
  • One valid government-issued ID
  • A selfie with your government-issued ID
  • Proof of income

Tendopay Loan Application Steps

  1. From the Lazada Loans page, tap Tendopay.
  2. Register by providing your personal information and contact details. Tap Submit.
  3. Choose your loan amount and repayment terms and wait for approval.
  4. Once approved, you can purchase vouchers for your purchases.
  5. Your vouchers will be credited to your Lazada Wallet.

🛒 UnaPay

Lazada Loan partners - UnaPay

Launched by fintech giant Robocash Group in 2020, UnaPay offers buy-now-pay-later plans to online shoppers at Lazada. This is an ideal option if you’re buying a high-ticket item since it can lend up to ₱50,000. Furthermore, UnaPay prides itself for its smooth application process. You can apply for a Lazada loan in as fast as 5 minutes.

UnaPay Features

  • Loan amount: ₱2,000 to ₱50,000
  • Loan terms: One to six months
  • Interest rate: 5%

UnaPay Loan Application Requirements

  • Must be at least 18 years old
  • One valid government-issued ID
  • Proof of income

UnaPay Loan Application Steps

  1. To start your application, visit UnaPay’s homepage. There, you’ll be required to get the app.
  2. Once the app is downloaded, request an amount for in-store purchases and complete the application form.
  3. Upload the required documents.
  4. Wait for a call or email confirmation regarding your loan application.

🛒 Paylater

Lazada Loan partners - Paylater

Paylater is an online personal facility that offers Lazada e-Wallet credits. Compared with other Lazada loans in this article, Paylater’s loan amount is not that big. However, this is ideal for people who only need a small amount of money to finance their purchases.

Paylater Features

  • Loan amount: ₱2,000 to ₱10,000
  • Loan terms: 15 days to two months
  • Interest rate: Not indicated. Presumably, between 2% and 5%, based on Lazada Loans’ usual interest rates.

Paylater Loan Application Requirements

Not specified, but prepare the following:

  • Valid government-issued ID
  • Proof of billing
  • Latest payslip

Paylater Loan Application Steps

  1. From the Lazada Loans page, tap Paylater.
  2. Fill out the initial application form and follow further instructions.
  3. Submit the needed information and upload the requirements.
  4. Wait for the approval within 24 hours.
  5. When your application is approved, your loan will be credited to your Lazada Wallet.

🛒 Cashalo

Lazada Loan partners - Cashalo

Cashalo is undoubtedly one of the most popular players in the Buy Now, Pay Later industry. If you’re keeping yourself from borrowing a large amount of money, this is the best option for you. This is because this loan will only allow you to fund your Lazada Wallet with up to ₱5,000.[2] Nevertheless, the application requirement isn’t complicated.

Cashalo Features

  • Loan amount: Up to ₱5,000
  • Loan terms: Up to 90 days
  • Interest rate: 0% for new Cashalo users

Cashalo Loan Application Requirements

The only requirement that Cashalo will ask from you is to complete your user profile in the Cashalo app. While you’re at it, make sure that the email address and mobile address match the ones you registered with Lazada.

Cashalo Loan Application Steps

  1. From the Lazada Loans page, tap Cashalo.
  2. Register your email address and mobile number. Make sure that these details are the same with the ones enrolled in your Lazada account.
  3. Download the Cashalo app and log in.
  4. Tap Lazada Loan under Pay with Cashalo. Complete your profile.
  5. Select your desired loan amount and payment terms.
  6. Once your application is approved, the loan proceeds will be credited to your Lazada Wallet.

🛒 InvestEd

Lazada Loan partners - InvestEd

If you’re a student, you know too well how important having a computer is, especially these days when classes are still being taught online. InvestED has partnered with Lazada to launch a gadget loan program. Through this Lazada Loan, you can buy a laptop, tablet, smartphone, and other items that will help you get through your online classes.

InvestEd Features

  • Loan amount: Up to ₱40,000
  • Loan terms: Not specified
  • Interest rate: Not specified. Presumably, between 2% and 5%, based on Lazada Loans’ usual interest rates.

InvestEd Loan Application Requirements

Not specified, but we suggest that you prepare the following:

  • Documents proving that you’re 18 years old and above (e.g. PSA-certified Birth Certificate)
  • Documents proving that you’re enrolled in a college/university/learning institution in the Philippines (e.g. ID, registration form, etc.)
  • Documents proving that you’re in the last two years of your schooling (registration form)
  • Valid government-issued ID

InvestEd Loan Application Steps

  1. Complete and submit the application form on the InvestED website.
  2. Wait for the approval within two to seven days.
  3. An InvestEd loan officer will contact you if you qualify for the loan. They will verify your information and provide you with a sample breakdown of your loan.
  4. Submit the documentary requirements.

Lazada Loan FAQs

lazada loan faqs

Now that you know your Lazada loan options, you’re ready to apply. However, if you still have some concerns, you may want to stop for a moment and read through the following.

1. Where will I get the cash?

Remember that Lazada Loans aren’t cash loans. The proceeds of the loan come in the form of Lazada Wallet credits, which ensure that the money can only be spent on Lazada purchases. So, beware of agents calling or messaging you that you can pick up your loan proceeds in person.

2. Will the loan be credited in full or in installments?

The proceeds of your Lazada loan will be credited to your Lazada Wallet in full. That way, you can purchase whatever you need or want on the platform. Remember that Lazada Loans in the Philippines are essentially a Buy Now, Pay Later service, meaning that the repayment will be in monthly installments.

3. Do Lazada Wallet credits expire?

Lazada Wallet credits from a Lazada Loan don’t expire, meaning you can shop whenever you feel like it. However, keep in mind that even if you don’t use your Lazada Wallet credits, you’ll still have to repay the loan.

4. How can I repay my Lazada Loan?

The loan agreement is exclusive between you and your chosen lender, so you will make the repayments directly to the lender. Most lenders have payment channels, including bank-to-bank transfers and bills payment centers. Make sure you read the loan contract with your respective lender carefully to avoid confusion.

5. My application is denied. Can I apply for a Lazada Loan with another lender?

Yes! Lazada allows borrowers to apply with another lender if their first choice doesn't approve their application. You can even apply for multiple loans with different lenders in case you need a higher amount.

6. Are Lazada Loans processed only via the app?

No. You can apply for a Lazada loan via app or desktop. However, take into account the convenience when it comes to uploading the documentary requirements. If you already have the files on your phone, it only makes sense to process your application via the app.

7. Can I use GCredit as a payment option?

Unfortunately, no. As of this writing, GCredit is not a Lazada Loans partner.[4]

Final Thoughts

Gone are the days when online shopping was a convenience that only credit or debit card owners can afford. Although COD proves to be a practical option, it can be problematic, especially when the schedule of the delivery coincides with petsa de peligro or similar cash-strapped times.

Buy Now, Pay Later schemes such as Lazada Loans are a great alternative for those who don’t have the means to purchase an urgent item. It’s also a practical option for those who don’t want to put a dent in their savings or disrupt their cash flow with one big spend.

Before you apply for a Lazada loan, it’s a must that you check the features thoroughly. That way, you’ll be able to pick a loan with manageable repayment terms.

Compare Other Personal Loan Options

Looking for a cash loan that will supplement the payment for your online purchases? Take a look at this list of personal loans in the Philippines and their features. Compare your options and apply through Moneymax today!

Personal Loan Providers Minimum Loan Amount Minimum Annual Income Approval Time

Citibank Personal Loan  

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100,000 250,000 Fast approval time in 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.

Maybank Personal Loan

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50,000 300,000 Apply for a loan online in just a few clicks
RCBC Bank Personal Loan

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50,000 360,000 Get approved within 5 to 7 banking days
PBCOM Personal Loan

₱10,000 N/A Get approved within 1 to 2 days
SB Finance Personal Loan

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₱30,000 ₱180,000 Get approved within 5 banking days
CIMB Bank Personal Loan

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30,000 180,000 Apply within 10 minutes and get approved in 24 hours
HSBC Personal Loan

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30,000 168,000 Get approved within 5 to 7 banking days
EastWest Bank Personal Loan

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₱25,000 ₱180,000 Get approved within five to seven banking days
BPI Personal Loan

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20,000 300,000 Get approved within 5-7 banking days
CTBC Bank Personal Loan

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₱20,000 180,000 Get approved within 3 to 5 banking days
EasyRFC Multi-Purpose Loan

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10,000 120,000 Fast approval time in as fast as 24 hours



Jay is a marketing communications professional who specializes in short-form and long-form content. He has written ads for TV, radio, print, and digital. He has also produced corporate blogs, magazine features, white papers, product listings, reviews, and press releases for clients here and abroad. When he’s not writing, Jay plays the piano or takes pictures for his visual diary. Follow Jay on LinkedIn.