Online Loans in The Philippines 2019:
Which is the Best?

You are here because you want to know the best online loans in the Philippines this 2019! Right?!

Yes! Yes! We are experts in choosing the best offers for you!

So, scroll below for the golden nuggets!

Online Loans in the Philippines No Collateral

Online Loans in The Philippines — Is this New to Us, Pinoy?

In the Philippines, borrowing money seems to be second nature.  A high percentage of us, Filipinos, have already tried borrowing money at one point in our lives. Such loans may come from a family member, a friend, a workmate, a loan shark, and so much more. Also, aside from people we know, we also get to borrow from banks and do quick cash online loans here in the Philippines.

Company LogoLending CompanyDetailsApply Here
Online Loans PilipinasUp to 20K Loan, Loan approved in minutes. Most popular offer.Apply Now
CashWagonUp to 20K, 7K first-time loan at 0% Interest. No Processing Fee. Most popular offer. Apply Now
RobocashLoan up to 25K. Fast approval. Most popular offer.Apply Now
Tala PhilippinesTala PhilippinesUp to 10K. Lowest interest 11-15%. Highest rated in Google Playstore (4.8).Apply Now
CashaloCashaloInterest starts at 9.95% and promises 8-minute application. However, getting approved is hard according to users’ feedback.Apply Now
umbrella loanUmbrellaAffordable short-term microloan. No bank account needed. No referrences required during the application.Apply Now

“Utang” or borrowing money need not be a bad thing. Hey! Even business owners and entrepreneurs borrow money as well. So how much more for people that earn minimum wage or have low incomes.

Borrowing money should be done wisely to avoid getting into debt and having a hard time when it comes to paying it off. Borrowing money is to get you out of a current financial crisis or to improve your economic status. Below we have the most common lending systems we Filipinos use.

Loaning Money From Family, Friends, or Co-Workers.

They are your first lifeline when you are in need of a quick loan. Admit it or not those “Petsa de Peligro” moments they are the first people that come to mind.

Why? They do not require documents, collaterals, they often do not set due payment dates, and the best part is no interest! According to a recent survey from BSP ( Banko Sentral ng Pilipinas) 61.9% of the Filipinos are in debt with a family member or a friend.

While this is the easiest way of borrowing money, there is a set back when you do not deliver as the promise of paying. Such scenarios will end up in a conflict which can end up in breaking the relationship or putting a strain to it. So if you opt or have this kind of traditional loan best to deliver or pay as promised.

Online Loans in The Philippines Vs. The 5-6 Loan Scheme

This lending type of scheme is your last resort as it comes with the highest interest rate which is at 20%. It is one of the most popular lending schemes as its a quick cash loan requiring no collateral at all.

The 5-6 scheme always identifies with an Indian or “Bombay” riding a motorcycle which comes to collect your dues at your doorstep. So you have to be prepared as the payment is set on a daily basis failure to pay on time will only end up with you owing more in interest rather than the capital.

Some would say that 5-6 is better than online loans, however, we are not so sure right now if 5-6 is still existing. For example, here in Davao City, most vendors in the wet market relied on 5-6 for their capital.

With modern technology nowadays, especially those ones who know how to use their mobile devices (or those ones who owns these type of gadgets) — they can also use online loans to get some funds for their small business.

Online Loans in the Philippines No Collateral

Getting Loans From Government Agencies

It is one of the best lending schemes anyone can take advantage of.  The only downside is that you can only avail if you are an active member. Loans available are emergency, calamity, and salary loans via the SSS, GSIS, and Pagibig Agencies.

A majority of regular employees both in the public and private sector do avail these loans. Such loans are cash loans in the Philippines with sure approval. As long as you are an active member and have met the minimum contributions, then you can file any of the mentioned loans above.

In general, they offer longer payment schemes and amazingly low-interest rates. Below is a brief overview of the loan’s key features when it comes to emergency loans.

  • SSS- A member  can loan basing on his/her one-month salary credit. With a maximum amount of 15,000 pesos. Loan term is for 24 months with a 10% annual interest.
  • PagIBIG-A member can loan Up to 80% of the member’s Total Accumulated Value. Loan term is 24 months with a 5.95% annual interest.
  • GSIS- A member can loan a maximum amount of 20,000 pesos. Loan term is 36 months with a 6%annual interest.

In getting a  fast loan approval no credit check here in the Philippines, a loan from one of these agencies is your best option.

Traditional Loans Coming From Banks

Getting a bank loan is one of the most secure and legitimate ways of getting a loan. Some of its benefits are flexible loan amounts, fixed monthly payments, and a Top-up loan feature.

Although as we all know securing a loan from a bank will require you to wait at least 3-7 days for approval. So if you are on the lookout for fast loan approvals with no credit check here in the Philippines then getting one from a bank is not an option.

The personal loan also comes with a 3-7 days wait time for approval. On top of that, the requirements in getting one are also kind of hard to provide. See the list of  basic requirements below for a Personal Loan:

  • Filipino citizen.
  • Must be 21 years old at the time of application but no more than 70 years old upon maturity.
  • Minimum Gross Annual income: PHP 120,000 for Salaried Employees and PHP 400,000 for  Self-Employed / Professionals.
  • Must have a mobile phone and at least one landline phone at either residence or office.
  • Residence or office must be within BDO serviceable area.
  • Must be at least one (1)  year tenure with the company.
  • Proof of Income for Salaried Employees.
  • Original Certificate of Employment and Income (COEI) issued in the last three (3) months indicating status, length of service and breakdown of compensation.
  • Photocopy of last full month payslip.
  • Proof of Identification – Photocopy of at least two (2) valid photo-bearing identification documents, front and back, issued and signed by an official authority such.

To better help you out as to which bank to go to for your loan we have grouped them in different criteria.

Banks with the lowest running interest rates on personal loans are BDO, BPI, and Maybank.

Check rates below:

  • BPI Personal Loan-Monthly interest rate runs from 1.20%-1.25%. Loan terms are; 6,18,24,30, and 36 months.
  • BDO Personal Loan-Monthly interest rate is at 1.30%. Loan terms are; 6, 12,18, 24, and 36 months.
  • Maybank Personal Loan-the Monthly interest rate at 1.30%. Loan terms are; 12,18,24, and 36 months.

There are also banks that offer personal loans to minimum wage or low-income earners. Amazingly we are fortunate as there are still banks that accept borrowers who earn Php 15,000 per month or 160,000 to 180,000 annually. See details below:

  • AUB CASHHelp– Annual income requirement of 120,000 pesos. Loans come with a 1.25% interest rate monthly.
  • BDO Personal Loan– Annual income requirement of 120,000 pesos. The loan comes with a 1.30% interest rate monthly.
  • Security Bank Personal Loan– Annual income requirement of 144,000 pesos – 180,000. Comes with a 1.39% – 1.69% interest rate monthly.

Banks with Personal loans that have flexible terms.

A shorter loan term will mean you will have a lower interest rate costs. As for long-term loans, this would be the opposite meaning higher interest rates. For short-term loans below are the banks that offer it for six months:

  • BDO Personal Loan
  • UCPB SalarEasy Loan
  • Robinsons Bank Personal Loan
  • RCBC MyCash Loan

If you are looking for long-term loans below are your options:

  • China Bank Savings Easy-Funds Personal Loan (maximum of 48 months)
  • Citi Personal Loan (maximum of 60 months)
  • PBCOM Personal Loan (maximum of 48 months)
Online Loans in the Philippines

Best Quick Cash Online Loans In The Philippines

With the advancement of technology even getting a loan has gone online or digital. Most online loans in the Philippines requires no collateral at all.

Borrowing online only needs a good internet connection, a computer or even a mobile phone. They are usually called Payday loans, instant loans, or quick cash loans. Its as easy as 1,2,3 submit your requirements online and in just 24 hours your loan gets approved.

Most of the time they require you to send proof of income and proof of billing. Now you have to bear in mind while it is easy to avail it comes with a price. Quick cash loan online has higher interest rates ranging from 3%-20% and even higher and also has shorter payment and repayment terms.

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Online Loans in the Philippines — The List of Tested Companies

To better help you in choosing which online lending services to get fast loan approval with no credit check see list below:


TALA Philippines is one of the four countries that the company currently operates. Tala offers quick cash online loans in the Philippines without collateral. Everything from the application, tracking loan status, and contacting customer support can be done via their mobile app.

Steps in applying for a loan on the TALA mobile app:

  1. Download TALA app from Google play then start registering.
  2. Start the app and click “Apply Now.” Fill out the needed information on the application form.
  3. Sign in with your Facebook account.
  4. Submit a photo of your Valid ID.
  5. Accept the offer and then choose the preferred payment option that suits you.

Things to take note of when getting a loan with TALA

  • Very minimal requirements, they will only require one Valid ID.
  • They have the easiest application and the fastest loan approval which takes just about 5 minutes.
  • They also release loans even on Philippine Holidays.
  • They have the most positive reviews when it comes to approval and quick transactions.
  • Your first loan will only be 1,000 pesos.
  • It is only available for Android users.

2. Cashalo

Billionaire businessman John Gokongwei owns this lending institution. To get online loans in the Philippines with Cashalo, you must download its mobile app both available in the Android and iOS market.

Basic Requirements when applying for a loan with Cashalo.

  1. Valid Government ID example is your SSS ID.
  2. Company ID.
  3. Proof of billing like Meralco or Maynilad.
  4. Proof of bank account number.
  5. Your payslip for one month.

Things to take note of when getting a loan with Cashalo

  • Loan repayment channel is via Dragonpay only.
  • They have a 4.95% interest rate.
  • Loan approval period is between 1-2 days.
  • Reviews online identify with how great the customer service is for Cashalo
  • Loan approval rejection is received within minutes of application.

3. Umbrella

This mobile lending app comes with the design of being able to provide quick and easy quick cash online loans in the Philippines. They require minimal documentation when you apply a loan for them.

How to apply for a loan with Umbrella.

  1. Start with downloading the app. Choose the amount that you want to loan based on the pre-approved credit granted.
  2. You will now have to choose the timeframe of when you will pay back your loan. Choose between 1-3 months.
  3. Verify the loan calculation details within the app. Press confirm if all is good.

Things to take note of when getting a loan with Umbrella.

  • One of their requirements will require you to create a 7-sec selfie video.
  • One must be 21 years old and above to be able to apply for a loan with Umbrella.
  • The interest rate will depend on the loan value and the repayment time frame.
  • No interest charges on the service fee.

4. Cash Mart

Cashmart Philippines has been in the market for almost four decades. They come with SEC registration and has their headquarters in Taguig City. They offer the following types of Loans OFW loans, Salary loan, and Personal loan.

How to apply for a loan?

  1. Go to the official website fill out the required forms. Then wait for their call it usually comes within a 24 hours time frame.
  2. Wait as they will get a specialist to confirm and verify your submitted documents.
  3. Read the contract make sure to check the terms and condition. Then sign the contract so you can get your money.

Things to take note of when getting a loan with Cashmart

  • Customer reviews are positive mostly with regards to the fast transaction and exemplary customer service.
  • Aside from banks, they accept other payment channels such as 711, LBC, Bayad Center, etc.
  • Must be Aged 21-50 only to apply for a loan.
  • It is just made available in select locations.

5. Loan Ranger

Customer reviews on this online lending company is a mix of happy and unhappy customers. The reports pertain to the timeframe of loan approvals, cash disbursement, and payment channels. They are SEC-licensed and owned by First Digital Finance Corporation.

How to apply for a loan with Loanrangerph.

  1. Go to the company website and start filling out their online application form.
  2. Wait and then check for an email notifying you about your loan status.
  3. Wait and then check your bank account once deposited.

Things to take note of when getting a loan with Loanrangerph

  • They have convenient online payment loans such as and bank deposits
  • They have the lowest interest rate when you loan PHP10,000 which is at 3.5%, and you pay it in 5 days.
  • They have the highest interest rate which is at 19.5% this applies to an instant loan of a 30day term.
  • The maximum limit for a loan  is between PHP3,000 to PHP10,000

6. Lendr

Lendr is your middleman when acquiring online loans in the Philippines with no collateral. The company allows you to obtain quick cash loan online with their bank partners like RCBC, PNB, Chinabank, and their private lenders as well.

Loans offered are:

  1. Salary Loan
  2. Business Loan
  3. Housing Loan
  4. Auto Loan
  5. Personal Loan
  6. Agri Loan
  7. SSS Pension Loan
  8. Truck and Equipment Loan

Things to take note of when getting a loan with Lendrph

  • The maximum loanable amount will depend on your monthly salary
  • Loans are deposited to your bank, given as managers check, or pick up from the bank or financial institution branch.
  • Interest rate will depend on your chosen bank or financial institution of choice

Final Thoughts: Online Loans in The Philippines

These quick cash online loans are readily available and are made quite easy and accessible. Always make sure that when you get into such schemes of fast loan approval with no credit check here in the Philippines, you are doing it for all the right reasons.

Such cash loans online are suited for emergency needs or some unforeseen circumstances. If your intention is directed towards something trivial like daily living expenses, travel, a new phone or something that can wait then you will only get yourself swimming in debt and having a hard time paying it off. It is additional stress that is not well worth having.

Finally, make sure to read and go through your contract. Check terms and conditions, compare with other online platforms, check for hidden charges, check for customer reviews, and most of all make sure to pay on time to avoid a bad credit history.

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Online Loans in the Philippines Blog

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