If you need a quick loan, there’s no need to go to bad credit. Instead, a reputable and fast online loan application with monthly installments will be a safer and more effective solution. There are many applications that support online loans with relatively low interest rates without appraisal.
Today, Fastloans.ph will introduce more than 10 applications that are rated as the most prestigious among them.
Table of Contents
What is an online loan?
Found 7 fast online loan fit your demand
Tips: You can register multiple services to improve approval rate!
Benefit of online loan
Simple loan terms & procedures
Online loans are popular with many people because the loan terms and loan procedures are very simple. Most lenders only require customers who are Filipino citizens aged 18-60 years old, with a valid ID card to apply for a loan.
Quick review and disbursement
The loan approval process is very fast (usually only 5-30 minutes) and you will receive the money after only 30 minutes after the application is approved and no later than 24 hours. How fast or slow the disbursement will be will depend on the bank in which you open the account.
Save time
Because this is a 100% online loan, borrowers only need a Laptop / smartphone with internet connection to apply for a loan. No need to waste time and effort going to the bank / credit institution to apply for a loan.
0% interest rate when apply
Most online lending companies have a 0% interest and fee incentive program for customers who register for the first loan for a certain period of time (from 7-10 days).
Loan limit and loan period
With a low loan limit (from 5.000-25.000 PHP), a loan period of 7-30 days, this form of loan is only suitable for customers who need to borrow a small amount of money in a short time and have the ability to pay pay the loan on time.
Interest rates
Because this is a form of unsecured loan, the borrower only needs to provide ID card to register for a loan. Borrowers do not need to prove their income, so this form of loan has a higher interest rate than other unsecured loans.
Condition to have online loan
Have online loan with 3 easy conditions
- Valid ID: Provide valid ID with clear information
- Filipino Residents: Filipino Residents with age 20-70 and have stable job
- Have bank card: Any VISA, bank card, atm card have your name
Process to register cash loan
5 easy steps to have online loan at fastloans.ph
- Select products: Choose a online loan product that meets the conditions and needs on fastloans.ph
- Complete loan application: Fill out the application form for loan application, take a personal photo with your ID Card.
- Receive review results: Receive notification of loan approval result via SMS or Email within minutes.
- Loan disbursement: After the loan application is approved. The money will be transferred to your bank account.
- Loan payment: Loan payment via bank transfer, e-wallet or collection points.
Advantages of quick online loan
The convenience and simplicity are the advantages of 24-hour online loans at financial institutions. With fast online loan, you just need to sit at home and use the smartphone directly registered on the phone, receive money very quickly in just 15 minutes. In addition, the online loan application – websites with loan procedures are also extremely simple, just need an ID card or ID card to borrow. Some online loan apps also support 0% interest rate for the first loan and interest rate incentives for old customers to repay well.
Disadvantages of quick online loan
Online quick loan forms require simple procedures, no need to prove income, so the loan limit is not high, up to only 25k PHP. Short loan period of only 7 – 90 days is also an advantage of online loans.
Top 7 online loan service in Philippines
Below are the top online loan services in Philippines that you can try, please note that Cash-Express, Digido, OLP and Moneycat are the best disbursement loan at the moment
Robocash PH (now DiGiDo)
Free loan up to PHP 10 000, for each new client!
- 21-70 years old
- Loan term 10-30 days
- Only need valid ID, disburse in 24h More info
Amounts
25.000
PHP
Interest
20%
year
Amounts
25.000
PHP
Interest
20%
year
Kviku PH
Easy process, disburse quickly!
- 21-70 years old
- Loan term 10-30 days
- Only need valid ID, disburse in 60' More info
Amounts
20.000
PHP
Interest
21%
year
Finbro PH
Your financial support
- 21-70 years old
- Loan term 10-30 days
- Only need valid ID, disburse in 24h More info
Amounts
50.000
PHP
Interest
23%
year
Moneycat PH
Free loan up to PHP 10 000, for each new client!
- 22-70 years old
- Loan term 7-30 days
- Only need valid ID, disburse in 24h More info
Amounts
22.000
PHP
Interest
22%
year
What should be noted when borrowing money online?
Although it brings many benefits to borrowers, online loans also inject hidden risks that borrowers need to pay attention to before borrowing.
Research carefully about the lender’s information
Be careful at first, you won’t regret it later. Among countless online lenders, you should choose carefully where you will apply to limit the difficulties and risks encountered. Some criteria when choosing a reputable lender can be mentioned as follows:
- Registered by SEC
- Guaranteed by big, well-known companies in the market.
- Traffic to official information channels (website, social networks,…).
- Number of people using the service.
- Reviews of customers who have used the service.
- Professional level of lending platform (website, application).
- Service attitude of customer care staff.
Today, there are many online credit lending units rampant on social networking sites, websites, … but not all units are reputable enough for you to trust. So before deciding to borrow money online, you need to learn carefully to avoid unnecessary risks.
Read the loan agreement carefully
One of the notes when borrowing money online is that you must pay attention to the loan contract. Many sophisticated drafting facilities will have many unknowns in the contract.
The important thing before you sign the contract is to read it carefully. The most important part is the interest rate and loan amount you should pay attention to. If you agree with the agreement, please sign, if not, ask the creditor to make a reasonable draft.
The Difference Between An Online Loan And A Personal loan?
Personal loans is a broad term for loans that are offered to individuals and can be used at their own discretion. Online loans are specific types of personal loans that are completely processed online, from the application, approval, reimbursement, to the repayment.
Frequently asked questions about online loan
What is online quick loan?
Quick loan or online loan is a form of unsecured loan that only requires ID card, phone number, bank account number with fast disbursement time (within 5 minutes to 24 hours).
Is online loan is a scam?
Online instant loan websites / applications introduced on Loans Online are deployed by banks or financial companies with business license.
The Online loan applications introduced in this article have been selected among dozens of Online loan applications in Philippines. And all are reputable quick loan support applications from financial institutions, with the simplest and fastest disbursement records available today.
So based on which criteria to evaluate a reputable online loan application or not?
– Always disclose interest rates, installment period and be transparent about the loan and service fees.
– Clear company and developer information.
– There are channels for receiving information and taking care of customers 24/24 through hotline phone numbers. All customer service requests and questions are clearly answered.
– Diversified payment methods by reputable collection partners.
– A clear, well-informed consultant who always assists customers with all inquiries when applying for a loan online
When should I register online loan?
When you cannot borrow from the bank because you have too much loan or have bad debt.
When the amount you need is not much and needs in a short time.
When you do not have enough bank loan documents.
When you are unable to borrow from friends or family members.
Can I register loan if I have bad dept?
Loan websites / apps introduced on Loans Online all support loans to people with bad debts on CIC.
What are the terms of online quick loan?
To get the loan you must be a Philippines citizen between the age of 18 – 70 years old, have a valid ID card, phone number and a bank account to disburse.
How long is the loan period?
Loan period from 7 days to 6 months
What is the interest rate?
The interest rate for fast loan online is from 10-22% / year. However, online fast money lenders often split interest rates into consulting fees, application processing fees and interest rates, so you should thoroughly research your monthly payment amount before borrowing.
Which documents I need to provide to apply loan?
Valid ID card, passport, phone number and bank account for disbursement. In addition, some units also require proof of income if any.
Which provinces support online loan?
Loan service introduced on fastloans.ph support loans in most provinces in Philippines.
Can I register more than one loan service at a time?
You can completely apply for many loan services at the same time if you can ensure the ability to repay, and meet the loan conditions from your lenders.
Is it OK to borrow money online without repay?
With the current loan service, from the start to disbursement time, often lenders do not have a proper loan agreement (with red mark). All loan information is shown in the loan terms only, so you will not get involved in a criminal offense or go to jail.
However, if customers do not pay their debts, customers will be called or annoyed by lending organizations or text messages to themselves or their friends and relatives.
Where to pay the loan?
You can pay through an e-wallet, online banking (internet baking or mobile banking) or you can go to any bank closest to you to make payment. Details will be notified when you apply for a loan.
Can I pay the loan early?
Customers can pay the loan early without incurring any other fees or penalties.
Late payment loan (past due) is OK?
For the most convenience you should pay the loan on time. In case of late payment, late payment fee will apply.
Can I cancel my loan application before I receive the money?
You can cancel your loan application at any time before signing the contract. Because after signing the contract, the loan amount will be disbursed immediately. In this case, you can only pay the full balance (including principal + service fees and interest).
Found 5 fast online loan fit your demand
Tips: You can register multiple services to improve approval rate!
Gusto q humiram ng pera pero ung ID q is voter’s ID
Yes gusto
My ID is only brgy
I am endire need money this time. I am a “gsis” pensioner old pensioner – 70 y.o.. my net pension monthly is P 5k. can I apply a new ( first) loan in the
amount of 7k with a repayment term of 6 mos.?
repayment term po. so it wont be hard for me. will I be allowed 6 mos. to pay off. and paying center po – saan po.
how can I apply
I wiil apply the loanable amount is 25000.00
I need a loan for business
Good Day,
I need a emergency loan, i pay it installment for 3months
thanks and more power.
Try these
Digido https://rdr.pdlsd.net/in/offer/2538?aid=81527
Moneycat https://rdr.pdlsd.net/in/offer/2392?aid=81527
Binixo https://rdr.pdlsd.net/in/offer/3061?aid=81527
Good Day I need to Barrow from your lending App. I need for my Medicine.
Good Day can I Barrow money because I need for my medicine
i am not yet employed for now and just receiving my father’s pension.can i apply for a loan? thanks and GODBLESS
I wanted to apply loan. Im a single mom of one. My rely income is remitance of my bf who is now in Florida. How can i apply? I only have philsys id.