Best Digital Loans in the Philippines
Finbro Personal Loan
- Get approved in as fast as 10 minutes.
- Flexible loan repayments up to 12 months.
- Repay your loan early with no additional fees.
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Early repayment fee: ₱ 0
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Late repayment fee: 15 %
- Valid government-issued ID (SSS / UMID / Driver's License / Passport / National ID / Postal ID)
- Active mobile phone number
MoneyCat Cash Loan
- Get your loan sent to your bank card in 30 minutes
- 180 day loan tenure
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Early repayment fee: 20 %
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Late repayment fee: 20 %
- Valid government-issued ID (SSS / UMID / Driver's License / Passport / National ID / Postal ID)
- Active mobile phone number
- Active bank account
Kviku Cash Loan
- Fully automated system—get approved for your loan anytime, any day of the year
- Receive your loan in as fast as 15 minutes
- Pay your loan from anywhere
- 180 day loan tenure
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Early repayment fee: 20 %
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Late repayment fee: 20 %
- Valid government-issued ID (SSS / UMID / Driver's License / Passport / National ID / Postal ID)
- Active mobile phone number
Digido Cash Loan
- Fully automated loan application and disbursement process
- No guarantors representation required
- 180 day loan tenure
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Early repayment fee: 20 %
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Late repayment fee: 20 %
- Valid government-issued ID (SSS / UMID / Driver's License / Passport / National ID / Postal ID)
- Active mobile phone number
- Active bank account
TALA Personal Loan
- Fast approval time in as fast as 24 hours
- Quick cash loan up to ₱25,000 as fast as 24 hours
- 24/7 application using an Android phone
- No collateral or guarantor needed
- Ideal for: groceries, medical needs, quick cash needs
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Early repayment fee: ₱ 0
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Late repayment fee: 5 %
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Processing Fee: One-Time Processing Fee which is 3.99 % of the amount you borrow %
Tala Personal Loan Requirements for Filipinos
- Valid government-issued ID with your photo and signature
- An Android phone
- Tala Loan app
UNO Digital Bank Personal Loan
- Borrow funds up to ₱500,000
- Get approved within 7 banking days
- Pay in 6, 12, 18, 24 or 36 monthly installments
- Monthly add-on rate as low as 2%
- No collateral or co-maker needed
- Ideal for: emergencies, home renovation, travel
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Early repayment fee: ₱ 300
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Late repayment fee: ₱ 500
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Documentary Stamp Tax: ₱ 1.50
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Processing Fee: ₱ 500
Tonik Quick Loan
- Speedy loan approvals—as fast as 1 hour!
- Flexible payment terms up to 12 months
- Flexible due date schedule
- No collateral and credit history required
- Monthly add-on interest rate as low as 4.26%
- Ideal for: emergency travel, tuition fees
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Late repayment fee: ₱ 500
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Documentary Stamp Tax: ₱ 1.50
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Processing Fee: ₱ 500
Regular Employee
- Government-issued ID
- Deposit account (Tonik account)
CIMB Personal Loan
- All-digital loan application and processing
- Borrow money online up to ₱1 million
- Apply within 10 minutes and get approved in 24 hours
- No additional or hidden transaction fees
- Ideal for: financial emergencies, personal expenses
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Early repayment fee: 3 %
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Late repayment fee: 5 %
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Documentary Stamp Tax: ₱ 1.50
CIMB Personal Loan Requirements for Filipinos
- Valid government-issued ID
- Proof of income:
Employed
- Latest 1 month payslip
- Certificate of Employment
- BIR Form 2316 (W2)
Self-employed
- DTI registration and SEC registration of your business
EasyRFC Multi-Purpose Loan
- Fast approval time in as fast as 24 hours
- High loan amount of up to ₱150,000
- 4% monthly interest rate
- Payment term of up to 36 months
- No collateral or guarantor needed
- Ideal for: emergencies, tuition needs, travel funds
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Early repayment fee: ₱ 0
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Late repayment fee: 5 %
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Processing Fee: 6 %
RFC Personal Loan Requirements for Filipinos
- Valid government-issued ID, proof of billing, and proof of income or business registration
- Proof of income; for self-employed - receipts and sales logbooks
- Proof of business registration for business owners - barangay or mayor’s permit
What is a digital loan?
Digital loans are loans are from private lenders (non-bank companies that offer personal loans) or from digital banks. They are usually only available online through the provider's website or app. Digital loans offer short-term loans ideal for individuals who are having difficulty getting loan approval from banks or need cash ASAP. In a nutshell, a digital loan's main attraction is convenience.
How long will it take to get my loan approved?
Digital loans are known for their fast approval time, taking only an hour to 7 days before approving an application.
How much money can I borrow?
The money you can borrow from digital loans is smaller compared to bank loans since they have shorter payment terms. You can borrow as low as ₱10,000 and as high as ₱200,000. Some providers can lend you up to ₱2 million.
What are the advantages of a digital loan over a bank loan?
- Fewer requirements - private lenders only ask for a few documents, with some companies only requiring one document, usually a valid government ID
- Shorter processing and approval time
- Convenient application process - the loan application process for non-bank companies is usually done online or through an app