![Best Loan Apps Philippines With Low Interest Rate [2024]](https://cashloanph.com/wp-content/uploads/2022/04/best-online-loan-philippines-730x400.jpg "Best Loan Apps Philippines With Low Interest Rate [2024]")
Finding the best loan app in the Philippines with a low interest rate depends on your specific needs and financial situation.
Loan type
Short termFor a period of
180 daysRate ()
0.00% / monthLoan amount
PHP 25,000Approval in
5 minutesFirst loan free
no
Loan type
Short termFor a period of
180 daysRate ()
0.00% / monthLoan amount
PHP 20,000Approval in
5 minutesFirst loan free
no
Loan type
Long termFor a period of
4 monthsRate (PSK)
0.00% / monthLoan amount
PHP 25,000Approval in
5 minutesFirst loan free
no
Loan type
Short termFor a period of
365 daysRate ()
0.00% / dayLoan amount
PHP 20,000Approval in
15 minutesFirst loan free
no
Loan type
Short termFor a period of
90 daysRate ()
0.00% / dayLoan amount
PHP 25,000Approval in
15 minutesFirst loan free
no
Loan type
Short termFor a period of
365 daysRate ()
0.00% / dayLoan amount
PHP 50,000Approval in
15 minutesFirst loan free
no
Loan type
Short termFor a period of
90 daysRate ()
0.00% / dayLoan amount
PHP 20,000Approval in
15 minutesFirst loan free
noHere are some options to consider:
Apps with Very Low Interest Rates:
- Tonik: Offers personal loans from ₱250,000 to ₱5 million with interest rates as low as 0.92% to 0.98% per month. However, these rates are only available to high-income borrowers with excellent credit scores.
- Digido Loans: New customers can get their first loan with 0% interest for up to 180 days. Repeat borrowers qualify for lower rates compared to other apps. Loan amounts range from ₱10,000 to ₱25,000.
Apps with Competitive Interest Rates: - Tala: Provides microloans of up to ₱25,000 with daily service fees ranging from 0.43% to 0.5%. This translates to an annual percentage rate (APR) of around 15% to 18%.
- SB Finance (Zuki app): Offers various loan types like personal, car, and motorcycle loans. Interest rates start at 1.25% for car loans and 2% for personal loans.
- Coins.ph Loan: Integrated within the Coins.ph e-wallet, it offers quick loans with interest rates between 1.5% and 3.5% per month depending on the loan amount and term.
Other things to consider:
- Loan amount and term: Different apps have varying loan limits and repayment periods. Choose one that meets your needs and budget.
- Eligibility requirements: Most apps require Filipino citizenship, legal age, and some form of income proof. Check the specific requirements before applying.
- Fees and charges: Look beyond the advertised interest rate and understand any additional fees associated with the loan, such as processing fees or late payment charges.
- Reputation and reviews: Choose a reputable app with a good track record. Read online reviews from other users to get an idea of their experience.
Safety tips:
- Only use licensed and regulated lenders. Avoid loan sharks and unlicensed lenders who charge exorbitant interest rates and unfair terms.
- Be wary of hidden fees and charges. Read the loan agreement carefully before signing anything.
- Don’t borrow more than you can afford to repay. Make sure you can comfortably manage the monthly repayments.
- Don’t apply for multiple loans at the same time. This can hurt your credit score and make it harder to get approved for future loans.
- Remember, borrowing money is a serious financial decision. Always compare different options and choose theone that best suits your needs and budget. Don’t hesitate to seek financial advice from a qualified professional if you need help making an informed decision.
I hope this information helps you find the best loan app in the Philippines with a low interest rate!
