Getting a loan can be a quick solution to solve urgent financial needs. However, some loans may have high-interest rates that can become a burden for the borrower in the long run.
Therefore, it is essential to find a legit loan app with low interest rates to avoid financial stress. CashLoanPH will discuss the best legit loan apps with low interest rates available in the Philippines.
5 legitimate loan apps with low interest rates available in the Philippines
#1. Juanhand App
Juanhand is considered one of the best loan apps in the Philippines because it offers a relatively low-interest rate compared to other loan apps.
Developed by Wefund Lending Corp, the app offers loans from 2,000 to 10,000 PHP. The interest rate is not explicitly stated on their website, but it is said to be one of the lowest in the market.
Besides, Juanhand claims to offer the fastest loan application process, and borrowers can receive their funds within a day. Customers can easily download the Juanhand app from Google Playstore or App Store, create an account, and apply for a loan.
#2. Home Credit App
Home Credit is a popular lending company in the Philippines that provides various loan products with low-interest rates. They offer a mobile app where customers can apply for a loan easily.
Customers can also apply for a loan via Telesales by calling the following numbers: Landline: (02) 7753 57141. Smart, Sun, PLDT, TNT: 1 800 10 234 3000. Globe & TM: 1 800 8 905 0303.
The app’s user interface is user-friendly and allows customers to view their loan details, including their outstanding balance, repayment schedule, and other important information.
#3. Cashalo App
Cashalo is another legit loan app with a low-interest rate in the Philippines. The app is developed by Gokongwei-led fintech company Oriente Express, which also operates the lending platform, Lendr. Cashalo offers a flexible repayment term ranging from 15 to 90 days, making it easier for borrowers to manage their loans.
Customers can apply for a loan up to 40,000 PHP with an interest rate starting from 4.95%. The app also provides customers with a feature called “Cashaloan,” which allows them to apply for a higher loan amount once they have made successful repayments.
#4. Finbro Online Loan
Finbro Online Loan is an online lending platform that offers quick loans up to 50,000 PHP with a low-interest rate. The loan application process is straightforward, and borrowers only need to provide one valid ID and a selfie. No payslips are required to apply for a loan.
The app has a user-friendly interface that allows customers to view their loan details, including their outstanding balance, repayment schedule, and other important information. Processing fee is 0% for the first loan.
#5. Tala
Tala is an international lending platform that provides loans to customers in emerging markets, including the Philippines. Tala’s app is user-friendly, and customers can apply for a loan easily. Customers can apply for a loan up to 15,000 PHP with a repayment period of 21 days to 30 days.
The interest rate ranges from 11% to 15%, depending on the loan amount and repayment period. Tala’s app provides customers with a feature called “Tala Score,” which measures their creditworthiness based on their loan repayment behavior.
Conclusion
The availability of online lending services in the Philippines offers borrowers greater flexibility and convenience compared to traditional lending institutions.
Loan providers like Juanhand, Home Credit, Cashalo, and Finbro Online Loan offer low-interest rates, straightforward processes, and personalized financial assistance to fulfill varying needs. Filipinos must research these providers carefully, read the terms and conditions, and use the loans wisely to avoid financial pitfalls.
