If you’re dealing with financial challenges and need quick funds, loans for bad credit can be a solution. Despite a poor credit score, there are options available in the Philippines that can help you get the cash you need. Learn with Lafingo how to secure these loans and improve your financial situation.
Best bad credit loans in the Philippines in May 2025 ⭐
-
Info and reviewLoan from PHP 1,000 to PHP 25,000 Cash2go provides loan offers ranging from ₱1,000 to ₱25,000 for durations of 61 to 120 days. Lending rates vary by lender, with rates from 0% up to a maximum APR of 143%. For example, if you take out a loan of ₱1,000 with an interest rate of 36% per year and plan to repay it in 3 months, the total payment after 3 months would be ₱1,090.Fast processing and approval Personalized approach Intuitive platformCash2GoGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 20,000 Experience easy borrowing with Cash-Express. For a 7-day loan, you’ll benefit from 0% interest on the principal for the first week, transitioning to just 1.99% daily interest after that. Similarly, with a 14-day loan, the interest rate is 1% for the first 14 days, with a low daily rate of 1.99% for any subsequent period.Fast approval; as fast as 5 minutes All digital Easy and intuitive interface Requires only a valid IDCash-expressGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 50,000 Full loan repayment – You can pay the entire loan on or before the Next Payment date without any additional costs. You can check the total amount to be paid and payment terms for the loan by logging into your Finbro account. Minimum payment – In case you cannot pay your full repayment yet, Finbro offers an option to make Minimum payment which will prolong your Next Payment date for 7, 14 or 30 days. Details can be found by logging into your Finbro accountMinimal documentation required Fast processing of the application Loans up to PhP 50,000FinbroGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 25,000 Loan of 20000 ₱ for 6 months, monthly payment 5716 ₱, total amount 34296 ₱, annual percentage rate APR 143%. APR is the total cost of a loan expressed as a percentage of the total amount of loan granted per year. The maximum APR possible is 180%.0% interest rate for new clients Funds transfer to any bank Easy and intuitive interface No employment background checkSoscreditGet a loan
-
Info and reviewLoan from PHP 500 to PHP 20,000 MoneyCat understands that not everyone may have a perfect credit history. While a good credit score can be beneficial, it’s not always a strict requirement for loan approval. MoneyCat considers various factors, including your income and repayment capacity, when evaluating loan applications.Fast approvals User-friendly online app 0% interest for new clients All digitalMoneycatGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 25,000 Max. APR (annual percentage rate) 180%. Calculation example: 5000 ₱ and a loan term of 3 months, total payment within 3 months: 14810 ₱, of which interest on the loan: 9810 ₱. The minimum loan repayment period is 3 months and the maximum loan repayment period is 1 year.Zero service charges Zero interest for first-time borrowers Fast loan application decisionCredifyGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 25,000 Credy provides loan offers ranging from ₱1,000 to ₱25,000 for durations of 61 to 120 days. Lending rates vary by lender, with rates from 0% up to a maximum APR of 143%. For example, if you take out a loan of ₱1,000 with an interest rate of 36% per year and plan to repay it in 3 months, the total payment after 3 months would be ₱1,090.0% interest on the first loan Easy online application process Quick feedback, only 10 minutesCredyGet a loan
-
Info and reviewLoan from PHP 500 to PHP 50,000 The maximum available amount of loan is up to 50 000 pesos The minimum loan term is from 61 days to 60 months. The minimum interest rate is 11.9% per annum, the maximum is no more than 365% per annum.No background checks Quick loan processing Only reliable lending companiesZaimooGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 25,000 The maximum annual loan rate is 143%. Take the amount of PHP 20,000 and a period of 6 months. In this case, your monthly payment will be only PHP 5,000, and the total cost of interest will be 2,383 pesos monthly. The availability of a loan calculator in the Philippines helps the Filipino have a clear idea about the optimal loan amount, term, and repayment before subscribing to any loans.Only requires one ID 0% IR for first-time borrowers Fast disbursementDigidoGet a loan
-
Info and reviewLoan from PHP 500 to PHP 30,000 Assume you apply for a loan of 30,000 PhP at a monthly interest rate of 4.5% for a 3-month period. By the loan’s due date, you’ll be charged an additional 4,050 PhP. Hence, your total repayment will be 34,050 PhP. For further clarity, here are interest calculations that reveal the repayment sum (inclusive of interest) for typical service users. Loan amount: 30,000 PhP; monthly interest: 4.5%; loan term: 3 months. The 3-month period accrues interest at 4.5(%) * 3(months) = 13.5%. This equates to (13.5% * 30,000 PhP (loan amount))/100% = 4,050 PhP (accumulated interest). So, 30,000 PhP (loan amount) + 4,050 PhP (interest) = 34,050 PhP, which is due in three months. If a payment is delayed, the penalty fee is 0.10% daily, but it won’t exceed 10% of the loan amount. In case of significantly overdue payments, your information will be reported to a credit bureau. However, a loan extension can be arranged if the lender is informed promptly (before the loan due date) and if the interest for the original loan period is paid. No extra charges apply for loan extensions.40+ online lending partners Fast application and approval High approval rateMazillaGet a loan
-
Info and reviewLoan from PHP 500 to PHP 25,000 Crezu does not charge any service fees. It’s absolutely FREE! The loans offered have minimum repayment terms of 61 days (2 months) and maximum repayment terms of 120 days (4 months). Lending rates vary from lender to lender in the range from 12% to a maximum APR of 36%. For example, for a loan of ₱ 10,000 that will be paid in 3 months, the total payment of the loan will be ₱ 15,000.0% interest on the first loan Does not ask for credit history Easy and fast applicationCrezuGet a loan
-
Info and reviewLoan from PHP 1,000 to PHP 50,000 The amount is 30,000 Php, the interest rate per month is 4.5%, and the loan term is 3 months. 4.5 (%) * 3 (months) = 13.5% for 3 months (13.5% * 30,000 Php (loan amount)) / 100% = 4050 Php (amount of accrued interest) 30000 + 4050 = 34050 Php is the amount of money needed to be repaid in 3 months. In case of violation of the terms, the penalty amount is 0.10% of the overdue amount per day, but not more than 10% of the loan amount. In сase of a long delay in repayment, the information will be transferred to the credit bureau. The loan may be extended if the lender is informed in a timely manner (before the loan repayment date) and interest for the initial loan term is paid. There are no additional fees for loan extensions.0% interest rate Applications any time of the day Easy and intuitive interface Fast and reliable seviceCreditniceGet a loan
When You Need Quick Help, Bad Credit Loans May Be the Answer ✅
Avoiding being tagged as a bad credit is something that everyone should aspire to. After all, a poor credit score can affect a borrower’s chances of getting their loan applications approved or even their credit card applications. Being unable to take out a loan will have major repercussions and can get in the way of achieving life milestones like buying a house or a car.
Improving one’s credit score is not totally out of reach, but it’s a goal that cannot be achieved overnight or even in a matter of months. Fortunately, there are lenders offering loans for bad credit.
What Are Bad Credit Loans? 🔍
A loan for bad credit is a loan product specially designed for those with less-than-stellar credit scores. The borrower’s credit history comes into play as the traditional lenders will view the borrower with a poor credit history as a high risk.
This means that borrowers with a poor credit history are unlikely to approve the loan application for fear that the applicant will default on his or her loan obligation.
🚀 Looking for loans for bad credit? Compare the best offers today and find the right fit for your financial needs!
-
Info and review Cash-express.ph Experience easy borrowing with Cash-Express. For a 7-day loan, you’ll benefit from 0% interest on the principal for the first week, transitioning to just 1.99% daily interest after that. Similarly, with a 14-day loan, the interest rate is 1% for the first 14 days, with a low daily rate of 1.99% for any subsequent period.Get a loan
-
Info and review Digido.ph The maximum annual loan rate is 143%. Take the amount of PHP 20,000 and a period of 6 months. In this case, your monthly payment will be only PHP 5,000, and the total cost of interest will be 2,383 pesos monthly. The availability of a loan calculator in the Philippines helps the Filipino have a clear idea about the optimal loan amount, term, and repayment before subscribing to any loans.Get a loan
-
Info and review Cash2go.ph Cash2go provides loan offers ranging from ₱1,000 to ₱25,000 for durations of 61 to 120 days. Lending rates vary by lender, with rates from 0% up to a maximum APR of 143%. For example, if you take out a loan of ₱1,000 with an interest rate of 36% per year and plan to repay it in 3 months, the total payment after 3 months would be ₱1,090.Get a loan
-
Info and review Moneycat.ph MoneyCat understands that not everyone may have a perfect credit history. While a good credit score can be beneficial, it’s not always a strict requirement for loan approval. MoneyCat considers various factors, including your income and repayment capacity, when evaluating loan applications.Get a loan
Why Do Filipinos Have Bad Credit?
There are several factors why some Filipinos end up having a bad credit history:
Poor financial management
Many times, a poor credit history is a result of bad management of financial resources. Individuals can avoid this by ensuring that they live within their means, only borrowing money to fund their needs instead of luxuries.
Bad economy
A bad economy can push individuals to keep on borrowing money. Unforeseeable events such as economic slowdown, inflation, job layoffs, and other global developments can force people to take on many loans that they can’t pay off.
Unforeseen events
Health emergencies, calamities and man-made disasters can suddenly disrupt one’s economic stability. Savings may run out, which may push event the most financially prudent person to accumulate loans.
How Loans for Bad Credit in the Philippines Work ⭐
A loan with bad credit can be availed even by borrowers with a poor credit history. Personal loans for bad credit are specially designed to cater to the needs of those facing economic and credit challenges.
There are plenty of lenders of urgent loans for bad credit in the Philippines. They usually offer shorter repayment terms and higher interest rates. Some may also ask borrowers to provide guarantors or collateral. Here’s where Filipinos can get loans for people with bad credit.
- Non-banking financial companies – Many non-banking financial institutions offer urgent loans for bad credit in the Philippines. Borrowers either need to process the application online for loans with fast approval and no credit check, or by going to a physical office. Non-banking financial institutions normally offer more flexibility in their application criteria and requirements.
- Banks – Some traditional banks may offer personal loans with bad credit. Borrowers, however, cannot expect these personal loans for bad credit to be guaranteed approval since banks typically are more conservative with their lending practices.
- Fintech solutions and online lending platforms – Given the increasing popularity of financial technology (fintech) solutions, there are now many lenders offering online loans for bad credit.
Online loans for bad credit in the Philippines are quite popular since they are easily accessible, convenient, and fast.
What Are the Costs of Loans for People with Bad Credit 📃
There are different factors influencing the cost of a bad credit loan.
Principal amount and loan
The amount to be borrowed or also known as the principal, along with the loan term, will affect the cost of loans with bad credit. Borrowers can expect to pay more with a longer repayment period and a larger principal amount.
Interest rates
Lenders usually charge higher interest rates for a bad credit loan compared to a traditional one, since they are assuming more risks for default payments. A higher interest rate might be charged for borrowers with a bad credit history.
New loans usually provide lower interest rates. Find out why and where to get the new loan application here:
Creditworthiness of the borrower
Those who are looking for an online loan with no credit check and instant approval in the Philippines will have a hard time finding it. Lenders, after all, still asses other factors including capacity to pay or income, payment history of past credit with the lending company and even credit score.
Required collateral
Some firms offering bad credit personal loans may require collateral from borrowers as a way to offset their risk of defaulting on payments. Loans requiring collateral are secured loans and usually have lower interest rates and other fees.
Charges and fees
Aside from interest rates, borrowers also have to pay for other charges and fees of their quick loans for bad credit. These fees could include processing fees and late fees, which, when combined, can increase the overall cost of borrowing.
Borrowers can find the best legit online loan for bad credit for their needs in comparison services sites like Lafingo. Our experts at Lafingo provide unbiased reviews of online loans with fast approval for bad credit to make the task of choosing a loan deal easier for the borrower.
🔥 Struggling with bad credit? Discover the best bad credit loans and regain your financial stability!
-
Info and review Cash-express.ph Experience easy borrowing with Cash-Express. For a 7-day loan, you’ll benefit from 0% interest on the principal for the first week, transitioning to just 1.99% daily interest after that. Similarly, with a 14-day loan, the interest rate is 1% for the first 14 days, with a low daily rate of 1.99% for any subsequent period.Get a loan
-
Info and review Digido.ph The maximum annual loan rate is 143%. Take the amount of PHP 20,000 and a period of 6 months. In this case, your monthly payment will be only PHP 5,000, and the total cost of interest will be 2,383 pesos monthly. The availability of a loan calculator in the Philippines helps the Filipino have a clear idea about the optimal loan amount, term, and repayment before subscribing to any loans.Get a loan
-
Info and review Cash2go.ph Cash2go provides loan offers ranging from ₱1,000 to ₱25,000 for durations of 61 to 120 days. Lending rates vary by lender, with rates from 0% up to a maximum APR of 143%. For example, if you take out a loan of ₱1,000 with an interest rate of 36% per year and plan to repay it in 3 months, the total payment after 3 months would be ₱1,090.Get a loan
-
Info and review Moneycat.ph MoneyCat understands that not everyone may have a perfect credit history. While a good credit score can be beneficial, it’s not always a strict requirement for loan approval. MoneyCat considers various factors, including your income and repayment capacity, when evaluating loan applications.Get a loan
The Pros and Cons of Small Loans for Bad Credit
Much like most financial tools, loans for bad credit come with their advantages and disadvantages:
Pros ✅
Quick access to emergency funds– A personal loan for bad credit provides quick cash to borrowers, which is useful when one has an emergency.
Convenience– Many lenders are offering an online loan with no credit check, with instant approval. This means that the loan application, approval, and cash disbursement can be done in less than 24 hours.
Can help improve credit score– Over time, borrowers originally with a bad credit history can improve their scores when they pay their bad credit loans on time. Borrowers will then enjoy brighter financial prospects in the future.
Cons 🛑
- Higher interest payments – Personal loans for bad credit with guaranteed approval in the Philippines will charge significantly higher interest rates to borrowers than traditional lenders.
The higher interest payments are to offset the risks these lenders undertake in issuing loans for those with a bad credit history.
- Can further strain one’s financial health – The availability of online loans with no credit check and instant approval can provide false security to borrowers.
Some may even make it a habit to get loans from various lenders of bad credit loans online. This, however, could put the borrower in a never-ending debt trap.
Frequently Asked Questions about loans with bad credit❓
-
What are loans for bad credit❓
-
Can I get a loan with bad credit in the Philippines❓
-
Are bad credit loans guaranteed approval in the Philippines❓
-
What are the pros and cons of bad credit loans❓
-
Where can I view and compare the latest small loans for bad credit deals in the Philippines❓
-
Can I apply for a personal loan with bad credit at Lafingo❓
