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.

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Digido PH

Loan type

Short term

For a period of

180 days

Rate ()

0.00% / month

Loan amount

PHP 25,000

Approval in

5 minutes

First loan free

no
MoneyCat PH

Loan type

Short term

For a period of

180 days

Rate ()

0.00% / month

Loan amount

PHP 20,000

Approval in

5 minutes

First loan free

no
Crezu PH

Loan type

Long term

For a period of

4 months

Rate (PSK)

0.00% / month

Loan amount

PHP 25,000

Approval in

5 minutes

First loan free

no
Soscredit PH

Loan type

Short term

For a period of

365 days

Rate ()

0.00% / day

Loan amount

PHP 20,000

Approval in

15 minutes

First loan free

no
LoanOnline PH

Loan type

Short term

For a period of

90 days

Rate ()

0.00% / day

Loan amount

PHP 25,000

Approval in

15 minutes

First loan free

no
Finbro PH

Loan type

Short term

For a period of

365 days

Rate ()

0.00% / day

Loan amount

PHP 50,000

Approval in

15 minutes

First loan free

no
CashXpress PH

Loan type

Short term

For a period of

90 days

Rate ()

0.00% / day

Loan amount

PHP 20,000

Approval in

15 minutes

First loan free

no

Here 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!

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