Taco Loan App Philippines: Low Interest Loans PHP 3,000 to PHP 150,000

When it comes to financial emergencies, having quick access to cash can be crucial. Taco, a mobile app developed by TACO Lending Corporation, aims to provide a convenient and transparent solution for Filipinos in need of cash loans. Founded in 2020, TACO is a financial technology company that has gained recognition in the lending industry.

Loan Name Taco Loan App
Loan Amount PHP 3,000 to PHP 150,000
Loan Term maximum 365 days
Interest Rate  < 14%/year


One of the standout features of Taco is its commitment to transparency. Unlike traditional lending institutions that often hide fees and charges, Taco ensures that borrowers have a stress-free experience by offering loans with transparent fees and no hidden charges. This allows users to have a clear understanding of their loan terms and enables them to make informed financial decisions.

Taco offers a wide range of loan amounts, starting from PHP 3,000 and going up to PHP 150,000. This flexibility allows borrowers to select the loan amount that best suits their needs. Additionally, the loan term ranges from a minimum of 91 days to a maximum of 365 days, giving borrowers ample time to repay their loans without feeling overwhelmed by short repayment periods.

It’s important to note that Taco operates within the guidelines set by regulatory bodies to ensure the safety and protection of borrowers. The company is regulated by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP), which means borrowers can have peace of mind knowing that they are dealing with a legitimate and regulated lending institution.

The annual interest rate for Taco loans does not exceed 14% per year, ensuring that borrowers are not burdened with exorbitant interest charges. The interest rate is calculated based on the principal loan amount and the loan term. To illustrate this, let’s consider an example: Suppose a borrower requests a loan of PHP 20,000 with a term of 120 days (equivalent to 4 months) and an annual interest rate of 14% (0.04% per day) with no additional fees. The principal loan amount upon approval is PHP 20,000.

Using the provided interest rate, the daily interest on the loan would be calculated as follows: PHP 20,000 * 0.04% = PHP 8. This daily interest amount is then multiplied by the number of days in a month (30) to determine the monthly interest: PHP 8 * 30 = PHP 240. Adding this monthly interest to the loan installment amount, which is calculated by dividing the principal by the number of months in the loan term, results in the total monthly payment: PHP 20,000 / 4 + PHP 240 = PHP 5,240.

Over the course of the loan term, the borrower would pay a total of PHP 960 in interest charges: PHP 240 * 4 = PHP 960. Therefore, the total repayment at the end of the loan term would amount to PHP 20,000 (principal) + PHP 960 (interest) = PHP 20,960.

This transparent and straightforward calculation process enables borrowers to have a clear understanding of the cost of their loan and make informed decisions about their financial obligations.

Eligibility Criteria for Taco Loan App

To be eligible to borrow from the Taco loan app, certain criteria must be met. These criteria are in place to ensure responsible lending practices and protect both borrowers and the lending institution. The following eligibility requirements should be considered:

  1. Citizenship: To qualify for a Taco loan, you must be a citizen of the Philippines. This requirement ensures that the loan app is accessible to Filipino individuals who may need financial assistance.
  2. Age: You must be at least 18 years old to apply for a loan through the Taco app. This age requirement is a standard practice to ensure that borrowers have legal capacity and are responsible adults.
  3. Employment: Taco requires borrowers to be employed or have a regular source of income. This criterion helps to assess the borrower’s ability to repay the loan and ensures that the loan app is accessed by individuals with a stable income.
  4. Residence: Borrowers must be residents of the Philippines to be eligible for a Taco loan. This requirement ensures that Taco adheres to local laws and regulations and operates within the designated jurisdiction.
  5. Credit Score: Taco may consider a borrower’s credit score when evaluating loan applications. A good credit score indicates a borrower’s creditworthiness and responsible financial behavior, giving them an advantage in the loan approval process.

It’s important to note that while these are general eligibility requirements, individual circumstances may vary. Taco’s customer service team can provide more detailed information and guidance based on specific situations. They are readily available to assist borrowers with any inquiries or concerns.

How to Apply for a Loan through the Taco Loan App

Applying for a loan through the Taco app is a simple and user-friendly process. Here’s a step-by-step guide to help borrowers navigate the application process smoothly:

  • Step 1: Download the Taco app from the Google Play Store or the App Store. The app is readily available for Android and iOS devices, making it accessible to a wide range of users.
  • Step 2: After downloading the app, open it and proceed to create an account. Creating an account requires providing basic information such as your name, contact details, and email address. Additionally, a secure password will be needed to protect your account.
  • Step 3: Once the account is set up, the app will prompt you to provide essential information about yourself. This may include details such as your date of birth, marital status, and employment status. These details help Taco assess your eligibility and tailor loan offers to your specific circumstances.
  • Step 4: As part of the identity verification process, Taco requires borrowers to upload a copy of a valid ID. Acceptable forms of identification include a driver’s license, passport, or government-issued ID card. This verification step ensures the security of the borrowing process and protects against fraudulent activities.
  • Step 5: With all the necessary information provided, borrowers can submit their loan applications through the app. Taco’s team will review the application within 24 hours and provide a prompt response regarding the loan’s approval status.
  • Step 6: If the loan application is approved, Taco will transfer the loan amount directly to the borrower’s designated bank account within 24 hours. This quick disbursement process ensures that borrowers have access to the funds they need in a timely manner.


It’s essential to keep in mind that the loan terms and conditions may vary based on individual circumstances. Taco’s customer service team can provide detailed information and clarify any doubts or questions borrowers may have.

Pros and Cons of Using the Taco Loan App

As with any financial product, there are pros and cons to consider before using the Taco loan app. Evaluating these advantages and disadvantages can help borrowers make an informed decision about whether the app aligns with their financial needs. Here are some key points to consider:


  1. Convenience and User-Friendly Interface: The Taco loan app offers a convenient and user-friendly experience, allowing borrowers to apply for loans and manage their accounts effortlessly through a mobile device.
  2. Quick Approval Process: Taco aims to provide swift loan approvals, with most applications being reviewed and responded to within 24 hours. This quick turnaround time ensures that borrowers receive timely decisions regarding their loan applications.
  3. Competitive Interest Rates: Taco offers competitive interest rates, allowing borrowers to access the funds they need without incurring excessively high interest charges. This affordability contributes to a positive borrowing experience.
  4. Flexible Repayment Terms: The Taco loan app provides borrowers with flexible repayment terms, allowing them to choose a loan term that suits their financial capabilities and preferences. This flexibility can help borrowers manage their repayment obligations effectively.


  1. High Interest Rates: While Taco’s interest rates are competitive, it’s important to note that they can still be relatively high compared to other forms of credit. Borrowers should carefully assess their financial situation and determine if the interest rates align with their ability to repay the loan.
  2. Short Repayment Period: Taco’s loan terms typically range from 91 days to 365 days, which means borrowers have a relatively short repayment period. This shorter timeframe may result in higher monthly installments, so borrowers should consider their cash flow and budgeting capabilities before committing to a loan.
  3. Possibility of Late Fees and Penalties: Failure to repay the loan within the agreed-upon terms may result in late fees and penalties. Borrowers should familiarize themselves with the terms and conditions to avoid any additional charges and ensure timely repayments.
  4. Potential for Harassment by Debt Collectors: In cases of loan default, borrowers may be subjected to debt collection activities, which can be stressful and intrusive. It’s crucial for borrowers to understand their responsibilities and obligations to avoid any unpleasant experiences.

When considering the use of the Taco loan app, borrowers should weigh the pros and cons mentioned above. It’s essential to thoroughly understand the terms and conditions of the loan, assess personal financial capabilities, and make an informed decision based on individual circumstances.

Contact Information for Taco

For any inquiries, assistance, or further information, Taco provides the following contact details:

Taco’s customer service team is dedicated to assisting borrowers and addressing any concerns they may have. Feel free to reach out to them for personalized support.


Taco Loan App Philippines offers a convenient and transparent solution for Filipinos in need of cash loans. With its user-friendly interface, quick approval process, competitive interest rates, and flexible repayment terms, Taco strives to meet the financial needs of its customers.

However, borrowers should carefully consider the high interest rates, short repayment period, and associated risks before making a decision. Always assess your financial situation and ensure a thorough understanding of the loan terms and conditions before proceeding.

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