18 Cash Loan Apps in Philippines with SEC Registration (Lastest Update 2024)

In the Philippines, where unforeseen expenses can emerge at any time. Cash loan apps have emerged as a practical solution for borrowers seeking quick and hassle-free access to funds. CashLoanPH will delve into the world of cash loan apps in the Philippines, providing an in-depth understanding of what they are, their benefits, and an extensive list of top 10+ apps that have secured registration with the Securities and Exchange Commission (SEC) as of the latest update in 2024. Additionally, we will share valuable tips to expedite your cash loan application approval.

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What are Cash Loan Apps in the Philippines?

A cash loan app in the Philippines is essentially a mobile application that empowers users to obtain loans with unprecedented speed and convenience. These apps have been tailor-made for borrowers facing unexpected financial demands. Typically, the application process for these apps is straightforward, requiring basic personal information, including your name, address, and contact details. Additionally, proof of income might be requested. Once your application gets the green light, you can generally expect the loan funds to be disbursed within 24 hours.

However, it is essential to acknowledge that cash loan apps often come with a caveat – notably high-interest rates, which can range from 20% to 40% per month. This is a significant consideration, as it could potentially result in borrowers paying back substantially more than they initially borrowed. It’s imperative for users to be aware of the intricacies and nuances of the terms and conditions before embarking on a cash loan app journey. Additionally, these apps may contain hidden fees, such as late payment charges, making it essential to scrutinize the fine print.

Benefits of Cash Loan Apps in the Philippines

Cash loan apps have become the financial lifeline for many borrowers in the Philippines, and this is due to several advantages they offer:

1. Convenience: Cash loan apps provide unparalleled convenience. Borrowers can initiate the loan application process from the comfort of their smartphones or computers. Moreover, the ability to receive loan funds within 24 hours makes these apps a beacon of hope for those facing urgent financial needs.
2. Speed: The application process for cash loan apps is characterized by its speed and simplicity. Generally, borrowers are only required to provide basic personal information, and in some cases, proof of income might not even be necessary. This expeditious process is a significant boon for individuals facing immediate cash needs.
3. Flexibility: Cash loan apps typically offer a wide array of loan terms and repayment options. This flexibility empowers borrowers to customize their loans to suit their unique financial situations.
4. Accessibility: These apps are open to a broad spectrum of borrowers, including those with less-than-ideal credit histories. This inclusivity is a game-changer for individuals who have previously been rejected by traditional lenders.

However, as mentioned earlier, it’s crucial to be aware of the associated risks, especially the high-interest rates, which could potentially lead to difficulties in repaying the loans, with the final sum surpassing the borrowed amount. The presence of hidden fees is another point of caution, as some apps may impose late fees for missed payments. A diligent review of terms and conditions is highly recommended.

What does SEC stand for in the Philippines?

The SEC, which stands for the Securities and Exchange Commission, is a government body responsible for overseeing and managing the business landscape in the Philippines. It possesses the authority to formulate policies concerning the securities market and can provide guidance to the Congress and other governmental entities on matters related to the securities market.

 Top 10+ Cash Loan Apps in the Philippines with SEC Registration (Latest Update 2024)

In the Philippines, cash loan apps have witnessed a surge in popularity, and for good reason. These apps can provide access to funds when they are needed most. Here’s a comprehensive list of top 10+ cash loan apps in the Philippines, each with SEC registration for added peace of mind:

#1. Tala – CS201710582

• Loan Range: ₱1,000 to ₱25,000
• Interest Rate: Up to 20% per month
• Loan Duration: 5 to 15 days
• Documentation Required: Valid ID, proof of income

Tala stands as a prominent cash loan app in the Philippines, offering a speedy and hassle-free loan application process. The app utilizes a unique algorithm to evaluate borrowers’ creditworthiness, usually disbursing loans within 24 hours. Tala caters to individuals seeking quick access to modest cash amounts.

#2. Cashwagon – CS201626976

• Loan Range: ₱1,000 to ₱10,000
• Interest Rate: Up to 30% per month
• Loan Duration: 7 to 14 days
• Documentation Required: Valid ID, proof of income

Cashwagon ranks among the well-known cash loan apps in the Philippines, extending a variety of loan products, encompassing salary, business, and personal loans. It caters to those in need of relatively higher loan sums.

#3. LendUp – CS201814324

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

LendUp offers a unique proposition as a cash loan app by helping borrowers enhance their credit scores. The app reports borrowers’ repayment history to credit bureaus, which aids in building a favorable credit record. LendUp is ideal for individuals looking to bolster their creditworthiness.

#4. Pera247 – CS201917247

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

Pera247 provides borrowers with versatile repayment options, allowing them to choose between weekly, bi-weekly, or monthly repayment schedules. This flexibility makes Pera247 a fitting choice for those seeking adaptable loan repayment plans.

#5. CashCat – CS201814303

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

CashCat incentivizes borrowers with a rewards program where they accumulate points for timely loan repayments. These points can later be redeemed for discounts on future loans, offering a money-saving opportunity for borrowers.

#6. Digido – CS201916863

• Loan Range: ₱1,000 to ₱25,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

Digido offers a range of loan products, encompassing salary, business, and personal loans, making it an excellent choice for borrowers looking for diverse loan options.

#7. MoneyCat – CS201915625

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

MoneyCat adds an element of excitement by entering borrowers into a raffle for every timely loan repayment, offering the chance to win cash prizes. It’s a unique option for those hoping to test their luck.

#8. Robocash – CS202006663

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

Robocash, similar to Digido, provides borrowers with a variety of loan products, including salary, business, and personal loans, ensuring that borrowers have a range of options to choose from.

#9. EasyCash – CS201917249

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

EasyCash introduces a rewards program where borrowers can accumulate points for timely repayments. These points can be redeemed for discounts on future loans or withdrawn as cash, making it an attractive choice for frugal borrowers.

#10. PesoSense – CS201916601

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

PesoSense, like LendUp, gives borrowers an opportunity to enhance their credit scores by reporting repayment behavior to credit bureaus, assisting them in building a positive credit history.

#11. UnaCash – CS201916680

• Loan Range: ₱1,000 to ₱10,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

UnaCash offers a cashback program for borrowers who make timely repayments, allowing them to redeem cashback for discounts on future loans or as cash, providing a way to save money on loans.

#12. Cashalo – CS201815587

• Loan Range: ₱1,000 to ₱25,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

Cashalo is a versatile cash loan app in the Philippines, presenting a range of loan products, including salary, business, and personal loans, catering to diverse borrowing needs.

#13. Atome – CS201816402

• Loan Range: ₱1,000 to ₱30,000
• Interest Rate: Up to 5% per month
• Loan Duration: 3 to 12 months
• Documentation Required: Valid ID, proof of income

Atome functions as a buy now, pay later (BNPL) app, allowing borrowers to split their purchases into manageable payments. With flexible repayment options and rewards for on-time payments, Atome offers a convenient payment solution.

#14. LendEasy – CS202006818

• Loan Range: ₱1,000 to ₱20,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

LendEasy, much like PesoSense and LendUp, offers borrowers the opportunity to boost their credit scores by reporting repayment behavior to credit bureaus, aiding in building a positive credit history.

#15. Finbro – CS201908275

• Loan Range: ₱2,000 to ₱15,000
• Interest Rate: Up to 2.99% per month
• Loan Duration: 90 days to 12 months
• Documentation Required: Valid ID, proof of income

Finbro operates as a peer-to-peer (P2P) lending platform, connecting borrowers with investors. It provides a more cost-effective alternative to traditional loans for borrowers seeking affordable financing.

#16. Kviku – CS201918702

• Loan Range: ₱1,000 to ₱10,000
• Interest Rate: Up to 20% per month
• Loan Duration: 7 to 30 days
• Documentation Required: Valid ID, proof of income

Kviku offers borrowers a quick and convenient route to access small cash amounts. Utilizing a proprietary algorithm for credit assessment, Kviku often disburses loans within 24 hours.

#17. GCash

• Loan Range: ₱1,000 to ₱25,000
• Interest Rate: Up to 3.99% per month
• Loan Duration: 30 days to 12 months
• Documentation Required: Valid ID, proof of income

GCash, a mobile wallet app, extends various financial services, including loans. Borrowers can conveniently apply for loans through the GCash app, with loans typically disbursed within 24 hours.

#18. Home Credit – CS201301354

• Loan Range: ₱5,000 to ₱1,000,000
• Interest Rate: Up to 3.99% per month
• Loan Duration: 6 to 36 months
• Documentation Required: Valid ID, proof of income

Home Credit offers a wide array of loan products, such as personal loans, home loans, and appliance loans. Borrowers can apply through the Home Credit app or by visiting a Home Credit branch, making it a suitable choice for those in need of larger loan amounts.

Tips to Expedite Cash Loan Approval in the Philippines

If you’re keen to expedite your cash loan application approval, consider the following valuable tips:

1. Choose the Right Lender: Not all cash loan apps are created equal. It’s vital to research and select a reputable lender known for approving loans swiftly.
2. Meet the Eligibility Requirements: Ensure you fulfill all the lender’s eligibility criteria, including being a Filipino citizen, at least 18 years of age, and possessing a valid ID. Some lenders might have additional prerequisites, such as proof of income.
3. Provide Complete and Accurate Information: When filling out your loan application, ensure you provide comprehensive and accurate information. This includes personal details, employment information, and income details. The more information you provide, the better your chances of being approved.
4. Submit a Clear and Well-Lit Photo of Yourself: Some lenders may require borrowers to submit a clear and well-lit photo of themselves as part of the application process. It’s important to comply with this requirement, as it helps the lender verify your identity.
5. Apply During Business Hours: Most lenders tend to process loan applications more promptly during business hours. If you apply during off-hours, it may take longer for your application to be reviewed.
6. Be Patient: The loan approval process, even with the speed of cash loan apps, can take some time. It’s essential to remain patient and wait for the lender to review your application. If you are approved for a loan, the lender typically disburses the funds within 24 hours.

By adhering to these tips, you can increase your likelihood of expediting your cash loan application approval, getting the financial assistance you need precisely when you need it.

Conclusion

Cash loan apps in the Philippines have ushered in a new era of financial convenience, offering an essential tool for borrowers seeking immediate access to cash. However, it is of paramount importance to exercise caution and prudence when utilizing these apps. Careful comparison of the interest rates and fees charged by different apps is a prudent step before making a choice. Borrowers must remain vigilant about the potential risks, especially high-interest rates and hidden fees. Late fees and penalties may be levied upon those unable to meet their repayment obligations.

In sum, while cash loan apps are a beneficial resource for individuals facing urgent financial needs, they come with their own set of considerations. By approaching these apps with an informed and cautious perspective, borrowers can make the most of their potential benefits while minimizing the associated risks.