Which bank is the best for personal loan in Philippines? What would you choose bank or lending company loan? This article includes selected places and locations for those seekers who need a specified sum of money. There are a certain group of people who got used to bank loans and have never tried quick online loans from lending companies as Robocash, Juanhand, MoneyCat, or, for example, Kviku. We have feathered several of the lowest interest personal loans in the country of the Philippines in order to become a helpful surrounding for people who need this information.
Let’s see and analyze the data below to discover which bank is the best for personal loan in Philippines:
- Citibank Personal loan for your needs;
- SSS Salary Loan to apply;
- Pag-IBIG Loan for any purposes you have;
- Security Bank Personal Loan with special terms;
- EastWest Personal Loan;
- BPI Personal Credit;
- HSBC Personal Loan.
A great number of personal loans offered by the Philippines banks have high interest rates but, still, there are those who offer rather attractive rates. The regular interest rates per month are something about 1,5-2,2% today. Look for some lower offers dealing with more particular kinds of personal loans as for instance OFW loans as well as personal loans for business development or broadening. Everything starts from your needs and requirements, you can ask for a loan from these Philippines banks who have, indeed, nice rates.
|BANK||INTEREST RATE PER MONTH|
|BPI Personal Loan||1.5% or more|
|Citi Personal Loan||1,3%|
|HSBC Personal Loan||1,22%|
|EastWest Bank Personal Loan||1,89% if not less|
Do you know which bank is the best for personal loan in Philippines?
Our preferences and individual qualification influence the choice of the bank we apply for. Unfortunately, not all banks provide customers with convenient terms and low rates. After all, some banks offer a long period for using the loan but rates should be improved.
Currently, more and more popular become simple lending companies that allow you to apply from any place online within the whole Philippines and get your money in 5 minutes. You can try it and apply right now. This lending approach does not require a lot of paperwork BUT it’s important to have a valid ID of any eligible type.
By the way, if you apply for the first time with Robocash, for instance, your interest rate will be 0% for the next times it will become higher but with the option for the larger sum for lending (up to PHP 25 000).
Well, depending on your needs you will deals like these from various providers of credit.
|The minimum of documents||Robocash or Tala|
|Low-interest rate||HSBC loan (1.3% per month)|
|Very fast Approval||Cashwagon, JuanHand, Robocash (4 min.)|
|The Longest Tenure||Citibank (about 5 years or more)|
|Maximal Loan Ammount||Citibank (Up to PHP 2,000,000)|
How Much Money Can You Lend?
Again a lot depends on your needs, purposes, capabilities, and the bank or company you are going to apply for. The biggest sum you can borrow in the Philippines is PHP 2,000, 000. It comes to a personal loan taken in a bank where you will have to undergo a long evaluation process before approval if it will happen. The bank manager checks your credit history and capability to pay it back in accordance with your income and many other things. You can learn here how to make your credit history better.
Meantime, separate lending services online offer an average of PHP 10 000 – PHP 200 000. The lenders like these in comparison with banks do not provide commonly a maximum amount of credit. The income of the borrower is very important for both, especially for the bank loan options.
To give you better imagination concerning the maximum sum of money you can borrow in the bank and not only, look further. It will help you to know which bank is the best for personal loan in Philippines.
|Loan Provider||Maximal Amount of loan|
|EastWest Bank Personal Loan||PHP 2,000,000|
|Citi Personal Loan||PHP 2,000,000|
|Security Bank Personal Loan||PHP 2,000,000|
|Robocash Personal Loan||PHP 25,000|
|RFC Personal Loan||PHP 50,000|
|South Asialink OFW Loan||PHP 250,000|