Quick cash loan Philippines can be a lifesaver during unexpected emergencies. Whether it’s a sudden hospitalization, unforeseen educational expenses, job loss, or the need for urgent home or car repairs in the aftermath of a typhoon, financial crises can catch anyone off guard. While having a well-stocked emergency fund is ideal and can help you navigate such situations smoothly, not everyone has the luxury of maintaining a substantial reserve of money.
There may come a time when your emergency fund simply isn’t enough to cover the expenses at hand. When you find yourself in this predicament, your best recourse is to seek assistance from a quick cash loan provider.
If you’ve been pondering how to secure a loan swiftly, fret not. This comprehensive guide will walk you through the fundamentals of obtaining fast cash loans in the Philippines. Additionally, we’ve compiled a list of reputable quick cash loan providers in the Philippines for your consideration.
Overview of Philippines Quick Loan
What is Fast Cash Loan?
Fast cash loans are salary and personal loans designed for swift approval, ranging from as little as 10 minutes to a few days. A range of lenders, including local cooperatives and major commercial banks, provide rapid loan options in the Philippines.
Given their speedy processing, these loans grant you instant access to funds precisely when you require them, rendering them an optimal financial solution for unexpected emergencies.
Read more: 99+ Best Legit Online Loan In Philippines With Low Interest 09/2023
Are instant cash loans in 1 hour without documents Philippines legal?
“Are fast cash loans legitimate?” This inquiry’s legitimacy depends solely on the lender you choose.
Dishonest lenders, colloquially referred to as loan sharks, tend to impose exorbitant interest rates. Engaging with such lenders can lead to financial hardship, as servicing a high-interest loan on top of the principal amount might strain your financial capacity.
However, when collaborating with a reputable bank or a respected lending and financing institution, you can rest assured that their loan products are authentic and above board.
Read more: 99+ Best Legit Loan App With Long Term Payment Philippines 09/2023
How do quick cash loan online Philippines work?
To expedite fast cash loan approval, lenders often use a streamlined process:
- Complete a registration form at the lender’s office, website, or mobile app in the Philippines.
- Submit required documents, either in person or by uploading scans or photos online.
- Approved applicants may receive funds immediately, while others might wait one to three days, especially for larger loan amounts that require thorough validation.
- Cash can be collected at the lender’s office or deposited into a designated bank account.
It’s worth noting that the fast cash lending process can vary among organizations, so it’s advisable to check with your prospective lender for specifics.
Repayment terms depend on the agreement or loan type. For instance, monthly payments are common for some fast cash loans, while salary loans typically require repayment on your next payday.
Pros of quick cash loan Philippines online
Here are some of the pros of quick cash loans in the Philippines that you can apply for online:
- Convenience and Speed: Quick cash loans offer the convenience of online applications from your home, with a typically fast and easy process that can result in loan approval and disbursement within 24 hours.
- Minimal Requirements: Most online lenders in the Philippines have minimal eligibility criteria, typically requiring Filipino citizenship or residency, a valid ID, and a bank account.
- No Collateral: Quick cash loans are typically unsecured, eliminating the need for collateral, making them accessible to individuals without assets to pledge.
- Flexible Repayment: Online lenders often provide flexible repayment options, allowing you to select a plan that aligns with your financial situation and requirements.
Additionally, quick cash loans can serve as a valuable financial tool for covering unexpected expenses like medical bills, emergency repairs, or travel costs.
Cons of quick cash loan in the Philippines
Here are some of the cons of quick cash loans in the Philippines:
- High Interest Rates: These loans often carry higher interest rates than traditional bank loans due to the risk of lending to borrowers with limited credit history or collateral.
- Short Repayment Terms: Quick cash loans typically require repayment within a few weeks to a few months, which can be challenging and lead to extra fees if not met on time.
- Hidden Fees and Penalties: Some lenders may impose undisclosed charges like processing fees, late fees, or prepayment penalties, increasing the overall cost of the loan.
- Predatory Practices: Be cautious as some quick cash lenders may engage in predatory behavior, targeting vulnerable borrowers and using aggressive collection tactics.
Before considering a quick cash loan, carefully compare terms and conditions among different lenders and choose a reputable one to avoid these drawbacks.
Quick cash loan Philippines Requirements
The typical documentation necessary for quick cash loans in the Philippines includes:
- Filipino citizenship
- Age between 21 and 60 years old at the loan’s maturity
- A stable source of income
- Presentation of the following documents:
- Valid government-issued, photo-bearing ID/s
- Proof of income (like payslips or ITR)
- Certificate of Employment (for employees)
- Business Registration Documents, such as DTI and SEC Certificates (for business owners)
It’s important to note that the specific requirements may vary depending on your chosen lender, so it’s advisable to contact them directly to get detailed information.
How to get a quick cash loan instantly?
To get a quick cash loan in the Philippines, you can follow these steps:
Step 1: Choose a lender
There are many different lenders that offer quick cash loans in the Philippines. You can compare the terms and conditions of different lenders online or by visiting their branches.
Step 2: Apply for a loan
Once you have chosen a lender, you can apply for a loan online or by visiting their branch. You will typically need to provide your personal information, such as your name, date of birth, and contact information. You may also need to provide proof of identity and income.
Step 3: Get approved for a loan
The lender will review your application and determine if you are approved for a loan. If you are approved, you will need to sign a loan agreement and receive your loan funds.
Top Best Quick Cash Loans in the Philippines
Here are the top best quick cash loans in the Philippines:
|Loan App||Loan Amount||Loan Term|
|CASH-EXPRESS||₱1,000 – ₱20,000||7 – 30 days|
|CASHSPACE||₱1,000 – ₱25,000||61 – 120 days|
|CREDIFY||₱1,000 – ₱25,000||90 – 360 days|
|CREZU||₱1,000 – ₱25,000||60 – 120 days|
|DIGIDO||₱1,000 – ₱25,000||90 – 180 days|
|FINAPPS||₱1,000 – ₱25,000||61 – 120 days|
|FINBRO||₱1,000 – ₱50,000||30 – 360 days|
|FINLOO||₱1,000 – ₱25,000||30 days|
|KVIKU||₱500 – ₱25,000||60 – 180 days|
|LOANONLINE||₱500 – ₱25,000||90 – 360 days|
|MONEYCAT||₱500 – ₱20,000||90 – 180 days|
|SOSCREDIT||₱1,000 – ₱25,000||90 – 360 days|
|VAMO||₱1,000 – ₱30,000||10 – 30 days|
|UNACASH||₱1,000 – ₱100,000||7 – 60 days|
|JUANHAND||₱1,000 – ₱20,000||6 – 60 days|
|TALA||₱1,000 – ₱15,000||30 – 61 days|
|SEEDIN||₱5,000 – ₱100,000||1 – 12 months|
|CASH MART||₱1,000 – ₱10,000||7 – 60 days|
|OLP – ONLINE APPROVAL LOAN APP||₱1,000 – ₱20,000||6 – 60 days|
|MONEYMAX PH||₱1,000 – ₱100,000||7 – 60 days|
|HOME CREDIT||₱1,000 – ₱100,000||6 – 36 months|
|ACOM CONSUMER FINANCE||₱1,000 – ₱100,000||6 – 36 months|
|UPFINANCE||₱1,000 – ₱100,000||6 – 36 months|
|CITIBANK||₱50,000 – ₱2 million||1 – 60 months|
|EASTWEST BANK||₱50,000 – ₱2 million||1 – 60 months|
|HSBC||₱50,000 – ₱2 million||1 – 60 months|
For fast access to funds during unexpected expenses, consider Finbro. Apply for a loan using your computer or mobile device with just a valid ID and a selfie. Approval takes minutes, and funds can be deposited into your bank account on the same day.
- Loan Amount: Up to ₱50,000
- Interest Rate: Subject to approval
- Approval Time: 10 minutes to 1 day
- Payment Terms: Up to 12 months
- Features: Convenient and speedy application and approval, minimal requirements, no need for collateral.
Quick cash loan M Lhuillier
M Lhuillier Financial Services, Inc. (MLFI) offers various financial services in the Philippines, including loans. They provide:
- Quick Cash Loan: Unsecured, short-term loans for Filipino citizens and residents, ranging from ₱1,000 to ₱100,000, repayable in 7 to 60 days.
- ML Pensioner’s Loan: Unsecured, short-term loans for Filipino pensioners, offering ₱1,000 to ₱30,000, with repayments in 7 to 30 days.
- ML Motorcycle Loan: Secured loans for Filipino citizens and residents, requiring a motorcycle as collateral. Loan amounts range from ₱10,000 to ₱100,000, with repayment terms of 6 to 24 months.
MLFI loans are known for their convenience and speed, but they may have higher interest rates than traditional bank loans. To apply, visit an MLFI branch with a valid ID, income proof, and necessary documents. If approved, you’ll sign an agreement and receive the funds. Compare terms, choose a reputable lender, and borrow responsibly.
Digido is a licensed mobile app lender in the Philippines, regulated by the SEC. They offer loans up to ₱25,000 with no interest on the first loan for seven days, requiring only proof of identity and income. To apply, download the Digido app, create an account, and provide personal details, ID, and income proof. The application process takes 15 minutes, and funds can be received within 24 hours. Note that Digido loans may have higher interest rates and potential hidden fees, so compare lenders and borrow responsibly.
If you’re a regular GCash user, you’ve likely come across the GLoan feature on the dashboard. This GCash quick loan is accessible to prequalified users who meet the GScore criteria.
You can borrow as much as ₱125,000 with repayment options extending up to 24 months. The loan amount will be swiftly deposited into your GCash wallet.
- Loan Amount: Up to ₱125,000
- Interest Rate: 1.59% to 6.57%
- Approval Time: Pre-approved for eligible GCash users
- Payment Terms: Five to 24 months
- Features: No documentation required, instant disbursement to your GCash wallet, and convenient payment choices.
Cash loans in an hour Philippines provides hassle-free emergency cash loans in the Philippines within an hour, without the need for extensive documentation.
- Loan amounts range from 1,000 to 20,000 pesos, with repayment periods spanning 7 to 14 days. First-time borrowers can access up to 10,000 pesos with zero interest for 7 days.
- Subsequent loans carry interest rates between 1% and 1.99% per day, without any service charges.
- Eligibility criteria include residing in the Philippines, maintaining a stable income source, age between 21 and 70, and possessing a valid passport/ID/SSS/UMID/PRC ID.
- Address: Level 10-1 One Global Place, 25th Street Cor. 5th Avenue, Fort Bonifacio, Taguig City.
Online Loans Pilipinas
When seeking quick cash loans, opt for a provider that simplifies the application process and offers rapid approval. Online Loans Pilipinas fulfills these criteria, providing swift access to cash without the usual delays.
Just complete the online application form, submit it, and await approval. Maintaining a good account standing can qualify you for a higher loan amount.
- Loan Amount: Up to ₱7,000 for first-time borrowers and ₱30,000 for repeat borrowers with good credit history
- Interest Rate: Subject to lender approval
- Approval Time: Within minutes
- Payment Terms: Starting at 10 days
- Features: No collateral required, minimal requirements, transparent fees, quick approval and disbursement, and a 30-day payment extension option for unexpected situations.
For quick cash loans, consider UnaCash, an all-digital loan app offering competitive rates, swift online applications, and rapid approval in the Philippines. It’s a hassle-free option, even for those without a bank account, as everything can be done through their mobile app.
To apply, you only need to be at least 18 years old with a mobile number and a valid email address.
- Loan Amount: ₱1,000 to ₱50,000
- Interest Rate: 0% to 16%, based on credit score
- Approval Time: 24 hours
- Payment Terms: Two to six months
- Features: Convenient mobile application, no need for bank visits, speedy approval, UnaCash Credit Line, and repeat loans for borrowers with good credit histories.
Tonik Quick Loan
Looking for a quick online cash loan with a swift application process and rapid funds? Explore Tonik’s Quick Loan, an easily accessible personal loan through online application.
All you require is a Tonik bank account and a valid ID for your application. If you meet the criteria for a Tonik Quick Loan, approval can be obtained within just 30 minutes, and you’ll receive the funds promptly, assuming you’ve completed all post-approval requirements.
- Loan Amount: ₱5,000 to ₱50,000
- Monthly Add-on Interest Rate: As low as 4.26%
- Approval Time: As fast as 30 minutes
- Payment Terms: Six to 24 months
- Features: No collateral or credit history necessary, rapid approval, real-time fund disbursement, and flexible payment scheduling.
RFC Cash Loan
For minor financial needs that don’t demand a large sum, consider Radiowealth Finance Corporation’s Cash Loans. This online quick cash loan in the Philippines is suitable for handling critical emergencies.
- Loan Amount: ₱10,000 to ₱3 million
- Interest Rate: Varies based on the loan amount and the repayment period
- Approval Time: As fast as 24 hours
- Payment Terms: Three to 36 months
Use it for kids’ tuition, car repairs, gadget purchases, travel expenses, home improvements, special occasions, and medical bills.
UnionBank Quick Loan
Another option for instant cash loans is the UnionBank Quick Loan, an entirely digital program available exclusively to pre-qualified UnionBank deposit account holders.
To apply, access the Quick Loan website through the provided link in the notification email or SMS. Enter your invite code, the last five digits of your ATM or 12-digit payroll account number, along with your mobile number and email address. Alternatively, you can apply through UnionBank Online.
- Loan Amount: ₱1,000 to ₱1 million
- Interest Rate: Provided in the Quick Loans Promissory Note and Disclosure Statement
- Approval Time: As fast as 60 seconds
- Payment Terms: Up to 12 months
- Features: Quick access to cash, hassle-free online application, suitable for immediate financial needs.
Important Considerations Prior to Applying for a Quick Cash Loan in the Philippines
For a successful quick cash loan application in the Philippines, follow these tips:
- Compare Options: Not all quick cash loans are the same. Carefully assess your options to find a loan that suits your budget and needs. You can use Moneymax’s loan comparison tool for assistance.
- Borrow Responsibly: Only borrow what you can comfortably repay to avoid high interest rates. Utilize your lender’s loan calculator to estimate costs accurately.
- Check Fees: Beyond interest rates, be aware of other associated fees like processing fees, documentary stamp taxes, disbursement fees, late charges, and more. These fees can affect the overall cost of the loan.
- Review Your Credit Score: Some lenders consider your credit score when offering loans. A good credit score can lead to lower interest rates, while a lower score may result in higher rates or loan rejection.
- Avoid Multiple Loans: Try to avoid taking out new loans until you’ve paid off your existing ones. This helps manage your finances and prevents overwhelming debt.
- Maintain Timely Payments: Pay your dues on time to avoid late payment charges and build a good payment history with the lender, which can be beneficial for future loan applications.
In conclusion, choosing the right quick cash loan in the Philippines is crucial for long-term financial savings. Take your time to research and compare options.
Where can I get a fast cash loan?
You can get a fast cash loan in the Philippines from a variety of places, including:
- Banks: Banks often extend fast cash loans to existing customers, offering lower interest rates but requiring more stringent approval.
- Pawnshops: Pawnshops offer quick cash loans in exchange for collateral like jewelry or electronics. These loans tend to have high interest rates, and collateral may be forfeited for non-repayment.
- Online Lenders: Numerous online lenders provide fast cash loans with a speedy application process and disbursement within 24 hours. However, online loans usually come with high interest rates and potential hidden fees.
- Microfinance Institutions (MFIs): MFIs offer small loans to low-income individuals with flexible repayment terms, although interest rates can be high.
- Government Programs: The Philippine government offers fast cash loan programs for low-income borrowers with lower interest rates. Eligibility criteria, however, can be stringent.
Quick cash loans without bank account Philippines?
There are a number of quick cash loans available in the Philippines that do not require a bank account. Some of these options include:
- Online lenders: Many online lenders offer quick cash loans to borrowers without a bank account. The loan funds can be disbursed directly to the borrower’s mobile wallet or through a money transfer service.
- Microfinance institutions: Microfinance institutions (MFIs) also offer quick cash loans to borrowers without a bank account. MFIs typically have more flexible repayment terms than other lenders, but the interest rates can be high.
- Pawnshops: Pawnshops offer quick cash loans in exchange for collateral, such as jewelry, electronics, or other valuables. Borrowers can redeem their collateral once the loan is repaid.
Online loans Pilipinas contact number?
There are many online loan providers in the Philippines, and each one has its own contact number. Here are a few examples:
- Online Loans Pilipinas: (+63) 02 405 5171
- Digido: (+63) 2 8870 7777
- UnaCash: (+63) 2 8580 8888
- JuanHand: (+63) 2 8683 2843
- Tala: (+63) 2 8558 9999
You can also find the contact numbers of other online loan providers by searching online or visiting their websites.
When choosing an online loan provider, it is important to do your research and compare the terms and conditions of different lenders. Be sure to choose a reputable lender that is licensed and regulated by the Securities and Exchange Commission (SEC) of the Philippines.
In summary, Quick cash loans in the Philippines offer a swift financial solution for urgent needs. However, careful consideration and responsible financial management are key to ensuring a positive borrowing experience and avoiding long-term financial strain.