5 Personal Loans with a Low-Interest Rate in the Philippines
Do you know anyone who is ready to pay double or overpay for anything? There are definitely no such people, as we usually behave in quite the opposite way searching for the most beneficial deals. If you are the one who wants to get extra money in several minutes and keep yourself away from a high hidden interest rate trap, learn about the best personal loan rates in the Philippines.
A personal loan is a good way for receiving the necessary sum of money to cover your urgent expenses or buy something you want so badly. At the same time, you can pay off the loan at the end of the term easily if the loan interest rate is affordable. Most applicants in the Philippines consider the interest rate when choosing the most eligible lending service online. It is possible to find very attractive terms today for getting a personal loan if you investigate a little bit.
Where to find low-interest-rate loans in the Philippines?
The majority of applicants know that personal loans with good terms are offered by state agencies and leading banks in the country. Still, these are not the only options for people who are looking for low rates due to the availability of many popular online lending services. You may say that these private institutions, indeed, offer a bit higher rates but it’s not the case if you are a newcomer.
The thing is that there are several reliable online lending companies in the Philippines where you can really receive an affordable loan with a low-interest rate in ten minutes if you apply for the first time. Below you will find the list of such companies for Filipino citizens.
Digido online loan allows first-time borrowers to receive PHP 1,000-10,000 without paying any extra money when the provided period for loan use is over. Repeat lenders can get up to PHP 25,000 but they will have to pay tangible interest per month with the opportunity to use longer loan tenure (3-6 months). This is a very reliable lending company with a convenient system to let your loan be approved and delivered instantly. A high chance of guaranteed approval is one of the major reasons Filipinos like the service.
CashXpress you can receive here your first loan absolutely for free with only one document provided. The first loan sum is a maximum of PHP 10,000 but with the option to apply for 20,000 next time after successful repayment. The process of approval takes 5 minutes and the money will be immediately transferred to your card.
Tala is a relatively new digital lending service that offers affordable loan terms and a user-friendly app for quick application. It has already gained more than 6 million customers and continues to grow to provide financial assistance for more people in the Philippines and three more countries. You need to have only your valid ID to apply. The service does not charge any penalty for repayment in advance, so take it into account and do it earlier if you can.
Cashalo is one more popular and reliable lending company to let you borrow up to PHP 10,000 for a minimal rate – 2.95%. It is required to supply both your ID and work information to get the necessary sum of money online.
MoneyCat allows you to choose the most appropriate term in accordance with your needs and capabilities. The interest rate is fixed and is 0.54% per day with an opportunity to take up to PHP 25,000. The service is of high quality, absolutely legally operated, and gathers decent testimonials from its customers.
According to the information above, it should not be hard to find a reliable lending service with an affordable rate to get fast cash for any purpose. Everyone has their vital needs but before applying to any service or bank, it is very important to take an unbiased look at your creditworthiness and evaluate your real needs.