In the Philippines, there are a number of different cash loan apps available to consumers. These apps can be a great way to get quick access to cash when you need it, but it’s important to do your research before you sign up for any loan.
In this article, we’ll discuss what you need to know about new cash loan apps [latest update].
List of the top new cash loan apps in the Philippines [Latest Update]
Here is list of the top 10+ new cash loan apps in the Philippines [New Update Today]
| App Name | Loan Amount | Interest Rate | Loan Term | Eligibility |
|---|---|---|---|---|
| Cashalo | Up to PHP 30,000 | Up to 36% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| Tala | Up to PHP 30,000 | Up to 36% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| MoneyMax | Up to PHP 20,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| Loani | Up to PHP 10,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| iPeso | Up to PHP 5,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID |
| MocaMoca | Up to PHP 3,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID |
| FlexiLoan | Up to PHP 10,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| LoanUp | Up to PHP 10,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| PawnHero | Up to PHP 100,000 | Up to 12% per annum | Up to 36 months | 18-65 years old, with a valid ID and a pawnable item |
| Digido | Up to PHP 10,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| Juan Hand | Up to PHP 10,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
| OLP | Up to PHP 10,000 | Up to 24% per annum | Up to 30 days | 18-65 years old, with a valid ID and proof of income |
Please note that these are just a few of the many cash loan apps available in the Philippines. When choosing a cash loan app, it is important to compare interest rates, loan terms, and eligibility requirements to find the best option for you. It is also important to read the terms and conditions carefully before applying for a loan.
Here are some additional things to consider when choosing a cash loan app:
- The interest rate: The interest rate is the amount of interest you will pay on the loan. Make sure to compare interest rates from different apps before choosing one.
- The loan term: The loan term is the length of time you have to repay the loan. Make sure to choose a loan term that you can afford.
- The eligibility requirements: Each app has different eligibility requirements. Make sure to read the requirements carefully before applying for a loan.
- The fees: Some apps charge fees for things like late payments or early withdrawals. Make sure to factor in these fees when choosing an app.
How to Choose the Right Cash Loan App
When choosing a cash loan app, there are a few things you need to keep in mind. First, you need to make sure that the app is legitimate. There are a number of scams out there, so it’s important to only use apps from reputable lenders.
One way to make sure that an app is legitimate is to check with the Bangko Sentral ng Pilipinas (BSP). The BSP is the central bank of the Philippines, and it regulates the financial industry. You can check the BSP’s website to see if a particular cash loan app is registered with the bank.
Another way to make sure that an app is legitimate is to read reviews from other users. There are a number of websites where you can read reviews of cash loan apps. Reading reviews can give you a good idea of what other people think of the app, and it can help you avoid scams.
Once you’ve made sure that the app is legitimate, you need to consider the interest rate. Interest rates on cash loan apps can vary widely, so it’s important to shop around and compare rates before you choose an app.
The interest rate you’ll be offered will depend on a number of factors, including your credit score, your income, and the amount of money you’re borrowing.
It’s also important to think about the terms of the loan. How long do you have to repay the loan? What are the late fees? Make sure you understand all of the terms before you sign up for a loan.
What Interest Rates to Expect
Interest rates on cash loan apps can vary widely. Some apps offer interest rates as low as 1% per month, while others charge interest rates as high as 30% per month.
The interest rate you’ll be offered will depend on a number of factors, including your credit score, your income, and the amount of money you’re borrowing.
How to Avoid Getting into Debt
It’s important to use cash loan apps responsibly. Only borrow money that you can afford to repay, and make sure you make your payments on time.
If you find yourself struggling to make your payments, don’t be afraid to contact the lender and ask for help. Many lenders offer flexible repayment plans and other options to help borrowers who are struggling.
Conclusion
Cash loan apps can be a great way to get quick access to cash when you need it. However, it’s important to do your research and choose the right app for your needs. By following the tips in this article, you can avoid getting into debt and use cash loan apps responsibly.
Additional Tips
Here are a few additional tips for using cash loan apps responsibly:
- Only use cash loan apps for emergencies. Don’t use them to fund everyday expenses or to pay for things that you can’t afford.
- Make sure you can afford the monthly payments. Don’t borrow more money than you can afford to repay.
- Read the terms and conditions carefully before you sign up for a loan. Make sure you understand all of the fees and charges.
- If you’re struggling to make your payments, contact the lender immediately. Many lenders offer flexible repayment plans and other options to help borrowers who are struggling.
By following these tips, you can use cash loan apps responsibly and avoid getting into debt.
