Here is a list of the best loan apps in the Philippines that offer long-term payment options, along with their key features and benefits:
Top Loan Apps with Long-Term Payment Options in the Philippines
Soscredit
- Loan Amount: ₱1,000 – ₱25,000
- Loan Term: 3–12 months
- Interest Rate: 0% for the first loan, APR up to 180%
- Special Features: Fast approval (15 minutes), no collateral required, flexible repayment options.
- Eligibility: 20–70 years old, valid ID, stable income.
- Pros: High approval rate, multiple payment methods.
- Cons: High interest rates after the first loan.
Crezu
- Loan Amount: ₱1,000 – ₱25,000
- Loan Term: 2–4 months
- Interest Rate: 0% for the first loan, APR 12%–36%
- Special Features: Acts as an intermediary for reputable lenders, fast approval (14 minutes).
- Eligibility: 18–70 years old, valid ID, stable income.
- Pros: No service fee, supports bad credit applicants.
- Cons: Not a direct lender.
Digido
- Loan Amount: ₱500 – ₱25,000
- Loan Term: 3–6 months
- Interest Rate: 0% for the first loan (up to 7 days), average 11.9% per month.
- Special Features: Fast disbursement (4 minutes), 24/7 support, high approval rate.
- Eligibility: 21–70 years old, valid government ID.
- Pros: Flexible repayment options, no hidden fees.
- Cons: High interest rates for long-term loans.
Finbro
- Loan Amount: ₱1,000 – ₱50,000
- Loan Term: 1–12 months
- Interest Rate: 0% for the first loan, 0.16% per day thereafter.
- Special Features: Fast approval (10 minutes), high loan limits.
- Eligibility: 20–70 years old, stable income.
- Pros: Simple application process, reasonable interest rates.
- Cons: No support for bad debts.
Credify
- Loan Amount: ₱1,000 – ₱25,000
- Loan Term: 2–12 months
- Interest Rate: 0% for the first loan, APR up to 180%.
- Special Features: Fast disbursement (15 minutes), supports multiple purposes (e.g., medical, tourism).
- Eligibility: 20–70 years old, valid ID, working phone number.
- Pros: No credit history check, flexible repayment options.
- Cons: High interest rates after the first loan.
Cashspace
- Loan Amount: ₱1,000 – ₱25,000
- Loan Term: 2–4 months
- Interest Rate: 0% for the first loan, APR 12%–36%.
- Special Features: Fast approval (15 minutes), supports bad credit applicants.
- Eligibility: 18–70 years old, valid ID.
- Pros: No service fee, high approval rate.
- Cons: Acts as an intermediary, not a direct lender.
MoneyCat
- Loan Amount: ₱500 – ₱20,000
- Loan Term: 3–6 months
- Interest Rate: 0% for the first loan (up to ₱3,800), 0%–3% per day thereafter.
- Special Features: Fast disbursement (15 minutes), flexible payment methods.
- Eligibility: 22–60 years old, valid ID.
- Pros: Simple procedures, supports students.
- Cons: High interest rates for long-term loans.
Kviku
- Loan Amount: ₱500 – ₱25,000
- Loan Term: 2–6 months
- Interest Rate: 0.16% per day, 1.2% per month.
- Special Features: Fast disbursement (5 minutes), transparent terms.
- Eligibility: 18–65 years old, valid ID, unblocked phone number.
- Pros: Simple procedure, online registration.
- Cons: Short-term loans.
Loanonline
- Loan Amount: ₱500 – ₱25,000
- Loan Term: 3–12 months
- Interest Rate: APR up to 427%, 0% for new customers.
- Special Features: Suggests suitable loans in 2 minutes, no service fee.
- Eligibility: 18 years and above.
- Pros: Easy online application, compares multiple lenders.
- Cons: Not a direct lender.
Cashexpress
- Loan Amount: ₱1,000 – ₱20,000
- Loan Term: 7–30 days
- Interest Rate: 0% for the first loan, 1.99% per day thereafter.
- Special Features: Fast approval (5 minutes), simple application process.
- Eligibility: 21–70 years old, valid ID, stable income.
- Pros: Preferential rates for new loans, easy repayment options.
- Cons: High interest rates for long-term loans.
Key Considerations When Choosing a Loan App
- Interest Rates: Look for apps offering 0% interest for the first loan, but be cautious of high rates afterward.
- Repayment Flexibility: Choose apps with monthly or long-term repayment options to ease financial pressure.
- Approval Speed: Apps like Digido and Finbro offer fast approval and disbursement within minutes.
- Eligibility: Most apps require a valid ID, stable income, and a working phone number.
- Customer Reviews: Check user feedback for reliability and customer service quality.
For more details, you can refer to the full articles on the respective websites.