Loans in the Philippines
Personal loans in the Philippines are very popular, cause a lot of people need short-term money asap. Of cause, many can use bank services and get money from one, but there are more of one Filipinos who can’t do it cause of bad credit score or other reasons.
A lot of Filipinos are still unbanked and don’t have any bank account. Near 2 from 10 in families save money in banks. People are interested in bank loans, but one has very strict requirements which intimate customers. Especially, when Filipinos want to take some small amount of money. This is the main reason why many people practice other finance services: cash lenders or individual lenders (called “loan sharks”). The last one is very risky option.
Borrowers in the Philippines should know, that they can apply legal loan online without using banks or “loan sharks” services.
Loans in the Philippines

Of cause, loans from family
TOP – 5 Lending Services in the Philippines:
Quick loans are for asap situations: you need to give money back or buy something important. You can divide personal loans in the Philippines on secure (require collateral) and unsecured (without collateral).
How everything works
To take a quick loan in the Philippines you need to enter into an agreement with the loan originator/lender. For this you need to choose loan service, amount and period of the loan, read all terms, in the order, you understand all rules and, if everything ok, agree = promise to repay money according to the exact terms in the contract. If the borrower will do it in time, he/she will pay only the commission for the
- will need to pay much more money
- credit score will be spoiled
Here we talk more about unsecured loans, where interest rate
Of cause, better use bank personal loans, but not all can do it, so then you need understand all responsibility of taking such unsecured loans!dependi on the service can be 0,01% – 3,00% per day depending on the service.
To repay money people usually use their credit cards, cause it faster and more easy or borrower can do it with the bank service.
How much can you borrow
Reply to this question you need to understand how much you need? For what goals he/she wants to take the money? How much can you repay and in what period? Where borrower will take money, when a deadline to repay will come? Does borrower have other options to get money, what will be the best one?
For example, for the instant cash loans in the Philippines Cashwagon service offers the best options: up to PHP 20,000 for the period 180 days! 1st loan is only for PHP 7,000 but interest rate is 0,01% per day!