Call 0966 827 3678 Mon - Fri 9:00am - 8:00pm

You have successfully logged out

We will send you an email with instructions to reset your password

Personal Loan FAQs

Once a personal loan applicant gives the complete requirements for the application, it usually takes five to seven working days.

A personal loan is a convenient way to finance an expense in any of these natures:

  • Health expenses
  • Education
  • Travel
  • House Downpayments
  • Debt consolidation
The usual minimum amount that one can borrow from the bank ranges from Php10,000 to Php50,000 for banks and as low as Php5,000 for lending institutions. The maximum amount loanable can be up to Php2,000,000 depending on your annual net income.
Some of the various payment terms available for personal loans in the Philippines are 3, 6, 12, 24, or 36 months which you can declare as the loan tenor.

Some of the mandatory requirements of the bank for personal loans are:

  • Signed application forms
  • 2 valid IDs from the government
  • Billing statement stating present address
  • Certificate of Employment or 1 Month Payslip from Employer
  • ITR or BIR Form 2316

You can get a personal loan from the following financial institutions:


You are guaranteed the security of the transactions since you will be dealing with a trusted financial institution. Processing your personal loan will be more convenient if you course this through a bank that you have other transactions with such as existing bank accounts.

Consumer Finance Companies

More flexibility in terms of amount that can be borrowed which is not usually lent by banks and private money lenders.

Private Money Lenders

Fast turnaround time since there will be less steps on processing your application. This is ideal if you need the cash immediately.

A common misconception is that expatriates can only get a personal loan in the Philippines if they are married to a Filipino citizen. This is not the case for non-collateral loans.
The maximum amount that you can borrow can be computed by the lendee's monthly net income divided by the amount to be borrowed.

The Total Interest Amount can be computed by getting the fixed interest rate of the bank and multiplying this with the monthly amortization that they will pay.

This will go up if there are delayed payments.

There can be multiple reasons why your personal loan got rejected:

  • Incorrect or Unclear Information Provided to the Financial Institution During the Application Process
  • Lack of Stable Income that can be a factor for you to be identified as incapable of paying the monthly amortization
  • Poor Debt Record which can be a basis on your potential payment pattern to your future loan
  • Large Loan Request that could be not proportional on your capability to pay off the loan in relation to your monthly income
  • Fraud of Information provided during the application process. This can also lead to legal actions of the bank against the individual who committed the crime.

Compare and apply in 3 easy steps

Why choose

Quick & Easy
100% free!
Impartial & Independent is your one-stop shop for comparing credit cards, loans, insurances and broadband plans. Use our powerful comparison tool to get unbiased, up-to-date information and the best deals.

Testimonial person made searching for my car insurance a breeze! They got me the best possible deal in the shortest time possible. No need for long calls conversations with different agents, no wasting time. It's been my go-to ever since I learned about it.
Sam Y.G., Quezon City, Philippines

Free money saving tips

Stay up-to-date with the latest financial news and the best money saving tips by subscribing to our newsletter.

Latest news

Stay up to date on the latest news about financial products and market comparison View all news