Top 7 Personal Loans in the Philippines with Low Effective Rates

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The Philippines has a variety of personal loans available for those who need money for various reasons. Each loan comes with its own interest rates, repayment terms, and unique features. In this article, CashLoanPH will take a look at 7 personal loans in the Philippines with low effective rates.

Below is a list of personal loans in the Philippines with low effective rates:

Loan Name Effective Interest Rate Range Loan Amount Range Loan Repayment Period
SSS Salary Loan 10% N/A Up to 5 years
Pag-IBIG Multi-Purpose Loan 10.75% Up to 80% of Total Accumulated Value (TAV) Up to 24 months (renewable)
BDO Kabayan Personal Loan 17.06-17.08% PHP 10,000 to PHP 2,000,000 6 to 36 months
Personal Loan BPI 23.05-25.74% PHP 20,000 to PHP 1,000,000 12, 18, 24, 30, or 36 months
Personal Loan BDO 25.98-26.76% PHP 10,000 to PHP 1,000,000 6, 12, 18, 24, or 36 months
Security Bank Personal Loan Starting at 29.48% PHP 30,000 to PHP 2,000,000 12, 18, 24, or 36 months
Citibank Personal Loan 32.05% PHP 20,000 to PHP 2,000,000 12, 24, 36, 48, or 60 months


1. SSS Salary Loan

The SSS Salary Loan has the lowest effective interest rate in the Philippines at 10%. It is a short-term loan that is designed to provide financial assistance to SSS members in times of need. The loan repayment is convenient for busy borrowers because the monthly payment is automatically deducted from their salary. The loan restructuring program is also a great feature for those who have late payments.

2. Pag-IBIG Multi-Purpose Loan

The Pag-IBIG Multi-Purpose Loan is another popular low-interest personal loan among Filipinos. The effective interest rate on this loan is 10.75%. This loan allows borrowers to avail up to 80% of their Total Accumulated Value (TAV) and repay the loan through salary deduction. The loan repayment period is up to 24 months and can be renewed.

3. BDO Kabayan Personal Loan

The BDO Kabayan Personal Loan is a secured loan that is available only for Filipinos who have at least 2-3 years of work experience abroad. The effective interest rate ranges from 17.06-17.08%. Collateral is required in the form of a savings, current or term deposit account. Borrowers can borrow at least PHP 10,000 and pay off the loan in 6 to 36 months.

4. Personal Loan BPI

The Personal Loan BPI provides an affordable option for Filipinos who need to borrow money through a loan with a low interest rate starting at 23.05% per annum. This loan allows you to borrow up to three times the size of your gross monthly income. The BPI loan amount varies from PHP 20,000 to PHP 1 million payable after 12, 18, 24, 30 or 36 months.

5. Personal Loan BDO

The Personal Loan BDO is a loan for Filipinos and foreigners living in the Philippines. The interest rate on this loan starts at 25.98% per annum. The loan amount varies from PHP 10,000 to PHP 1 million and can be repaid within 6, 12, 18, 24, or 36 months.

6. Security Bank Personal Loan

The Security Bank Personal Loan offers loan amounts ranging from PHP 30,000 to PHP 2 million with an effective interest rate that starts at 29.48%. Borrowers can choose to repay the loan within 12, 18, 24, or 36 months.

7. Citibank Personal Loan

The Citibank Personal Loan has an effective interest rate of 32.05%. This bank approves loans within 24 hours and has the longest loan repayment period in the Philippines. You can borrow any amount from PHP 20,000 to PHP 2 million and repay it within 12, 24, 36, 48, or 60 months.

These 7 personal loans are great options for those who are in need of quick cash. It is important to consider the interest rates, repayment terms, and unique features of each loan before making a decision. Choose the loan that best suits your needs and financial capability.

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CashLoanPH Changed status to publish 11/04/2023
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