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Loan Online in the Philippines: welcome to our service – here everything you need to know

The advantages of our service

The site lists all legal financial organizations.

Welcome, for the convenience of finding the credit you need, use the scroll «Loans». Here, select the type of credit you are interested in and on the page all financial organizations providing this type of credit will be displayed.

If you want to compare interest rates among a certain type of financial organizations – use the rollout scroll «Companies». Select the one you need, for example, «Pawnshops» and compare the interest rates for all organizations that will be displayed on the page in the form of blocks with all the necessary information.

How does loan online in the Philippines work?

Applying for a loan online in the Philippines is now made stress-free and easy. You only need to take several operations depending on your loan online in the Philippines. It’s easy to get a loan online in the Philippines:

  • Instant approval
  • No collateral and sure a large percentage of approval. You do not spend time traveling to the bank, but sit in a private setting. Getting financing in the World Wide Web is now more efficient for business because you can be approved easily.
  • Calculator on a website. The best thing about getting loan online in the Philippines is that you have a calculator. It will present packages of loan online in the Philippines accessible on the market that fits with the information you entered.
  • Wide Selection of Partners. You will find a wide array of partners to get a loan online in the Philippines you can choose from.

Below is the process you need to do to submit an application:

Step 1. Hit the button «Apply» near the name of the loan online in the Philippines of your choice.

Step 2. Complete the application form for lenders approval.

Step 3. Upload the needed documents for your loan online in the Philippines.

What are the general documentary requirements for loan online in the Philippines?

You only need to take several operations depending on your loan online in the Philippines. The needed documents for your loan online in the Philippines include:

Dealers usually provide simpler terms than a financial institutions would. Therefore, research institutes or finance companies in advance and note their terms for the purchase.

  • 2 valid IDs, must be pilipinas citizen
  • A bank account under the name of the borrower
  • Utility bill – reference to the evidence of address
  • Employment document or ITR for self-employed
  • 3 month’s payslip for employed while bank statements for self-employed

Patiently wait for a call coming from the lender 24-hours after the time of application.

You can wait for your loan online in the Philippines to be emitted within 1-5 days from the time of approval. Take note that this may be different on your private lender.

Some lenders offer to choose installment on a loan online in the Philippines every week to avoid the accumulation of a large number of installment.

Are you one of those people who value your time and like to take a credit on the same day? UpFinance is the perfect platform for you.

Credit terms and deadlines

Quick cash lends could be categorized as loan online in the Philippines. Their credit tenure is typically twelve months. What’s more, their turnaround period of the application is typically shorter. It might be at least 1-3 business days, given that you fulfilled every requirement.

The term loan online in the Philippines might be 3, 6, 12 months. The turnaround is one (1) to five (5) days. The interest rates are 1.2 – 70% p.m.

Recommendation on how to take a credit correctly and profitably

When screening, you will see numerous results for such, which are basically payday loans. High-cost short term loans with large payments, which lead to a costly debt spiral. You could determine same credits in the following ways:

  • Very short period of 1-3 months
  • High interest rates 2.5% – 70% p. m.
  • No collateral
  • Advance payments
  • Credit withholding.

If you do not have an emergency situation, it is better to use a Personal lend. Same credits are characterized by the following features:

  • Credit term from 3 months to 1 year, less often up to 3 years
  • Interest rates 1.2%- 2.5% p. m.
  • Requirements for the borrower, income requirements
  • One-time processing fee
  • Must be pilipinas citizen
  • Credit withholding.

Is Loan online in the Philippines legit?

Here’s an important tip you must take note when applying for credits. Every legit lending company must be registered under the Department of Trade and Industries and pay tax.

It is important to calculate your opportunities correctly and avoid unpaid payments. Unpaid loans are collected through the court on legal grounds.

Here at UpFinance, we always update our variety of partners. We always pick organizations with a minimum interest rate with the most favorable conditions. Are you looking for lenders? No matter what your conditions, we got the perfect Loan online in the Philippines for you!

How big is the interest rate?

The interest rate depends on your income, the term of the credit and whether will be given a deposit for a credit institution or not.

«Housing Credit» has the lowest interest rate, because it is provided for a long term and is secured by a pledge. Also low rates are possible at «Agricultural loans» since they are often financed with the help of government programs or charitable organizations programs.

Next up are car loans. These credits terms are significantly shorter than that of «Housing Credit», but the car acts as collateral, which makes possible for credit organizations to keep the interest rate low.

The next type of loans at the middle interest rate are «Teacher credit», , «Person loans», «OFW loans», «Salary loans», «SSS loans». These types of credits have similar conditions and terms. But they all require proof of your income.

What is the best loan online in the Philippines?

The most beneficial credits are provided by large banks such as:

These banks accept applications for loan online in the Philippines and make decisions within 1 to 5 days. Typically, the borrow period is 12 to 36 months.

However, if you need money urgently and for a short period, then you should consider micro financing. Usually, instant approval and a minimum of paperwork are required for «Cash loans» or «Micro loans» which are varieties of loan online in the Philippines.

Among this type of credits, the best offers can be found:

  • Blend PH – 8 % monthly rate, 1 – 6 months, approval time 24 – 48 hours;
  • MoneyTree – 10 % monthly rate, 1 – 6 months, approval time 24 hours;
  • Loanranger – 12 % monthly rate, 1 – 6 months, approval time 24 hours.

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