In the Philippines, a quick loan answers many of Filipinos’ life’s unanticipated challenges especially since many do not have a credit history or have low credit scores. Quick loans, characterized by fewer required documents and ease of access, offer a painless and quick solution to cash problems.
Best quick loans in January 2025 ⭐
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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
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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
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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
Life’s unpredictability, unforeseen events, or situations can be challenging to deal with especially if they involve money. Emergencies, sudden illness, accidents, or even global developments like a pandemic or a recession tend to push many people to the edge financially.
Offering convenience and quick disbursements, an instant loan app is considered to be the answer to the prayers of many Filipinos. But with the many claiming to offer quick loan applications and processing in 2025, finding the best quick loan proves to be a tricky task and overly time-consuming. Here at Lafingo, we can offer our expertise by letting you compare the fast loans on the market painlessly.
What is a quick loan?
Quick loans are personal and salary loans offering fast approval to borrowers. One can get his or her quick loan application approved in as fast as 10 minutes while others may have to wait up to 24, 48, or 72 hours. In the Philippines, borrowers can get quick loans from various institutions like cooperatives to big commercial banks.
An instant personal loan is quite popular instant personal loan is quite popular given the fast processing time that enables borrowers to get the funds quickly. A fast loan online is a great financial instrument for those facing emergencies and need cash at the soonest possible time.
How does a quick loan work in the Philippines in 2025?
The quick personal loan application process in the Philippines loan application process in the Philippines may vary from one lender to another, but generally, these are the steps individuals must follow to obtain a quick loan fast.
- Fill up the application form – Borrowers must obtain the registration or application form via the lender’s website or the loan quickly and complete the application form properly.
There are also fast approval loan in the Philippines being offered on-site in high-traffic areas like train stations, malls, or crowded streets. Borrowers must complete the application form and submit it on-site for a fast and easy loan application process.
- Submit requirements – The borrower must submit the loan requirements like ID and/or proof of income. Photos or scanned copies and photocopied documents may be uploaded in the lenders’ fast approval loan app for the Philippines or website or may be submitted at the office if an individual is borrowing onsite.
- Wait for approval – Some personal loans offer fast approval in the Philippines can process and approve online loans as quickly as 10 minutes while others offer quick loans same day approval. Keep in mind that the larger the amount being borrowed will mean a longer approval time like 48 to 72 hours as lenders will need to do more validation.
- Get the cash – You can get the cash you borrowed via your nominated bank account, digital wallet or by picking up the money from the office of the lender. Small instant loans are typically disbursed faster than a bigger quick loan amount.
What are the requirements for a quick loan approval in the Philippines?
Typically, online loan companies offering fast approval in the Philippines ask for the following requirements from quick loan applicants:
- Be a Filipino citizen.
- At least of legal age of 18 or 21 years old at the time of the application.
- Have a steady source of income.
- Be able to provide a valid Philippine government-issued ID such as a passport, driver’s license, and social security system (SSS).
- Be able to provide proof of income such as a certificate of employment, income tax returns or payslips, or business registration documents issued by local government units, the Securities and Exchange Commission, or the Department of Trade and Industry.
Take note that requirements for a quick loan may vary from one quick personal loan provider to another. Make sure to check all the requirements and prepare to submit them quickly to get your quick loan approved and disbursed as soon as possible.
The Pros and Cons of a fast loan in the Philipines
The Pros
Much like most other financial instruments, there are pros and cons of availing of an instant personal loan:
- Fast processing time – As its name suggests, a quick personal loan in the Philippines offers a fast approval and disbursement process. Compared to other loan types, fast approval personal loan firms ask fewer requirements A quick personal loan is viewed as less risky than other kinds of loans due to its shorter maturity date, which makes the underwriting process quicker than other loans.
- Lesser time for interest payments – Fast and easy online loans have shorter maturity dates, which means that there is a shorter time to accumulate interest payments.
For example, home loans may be paid off in, 5 10, or up to 25 years while fast payday loans must be paid in a month or up to 12 months. This means a borrower must only pay interest for one or up to 12 months while home loan borrowers will have to pay interest payments for 10 to 25 years.
- Easier to obtain – Most fast loans in the Philippines are for small amounts, which is why lenders do not ask for many requirements. Thus, quick loans are great for those who do not enjoy good credit scores since lenders ask for fewer requirements. Typically, quick and easy loans providers do not ask for proof of income or collateral.
The Cons
- Smaller amounts for borrowing – The primary downside of a quick loan is the smaller amount one can borrow. Small instant loans are characterized by short maturity dates or periods of repayment and so, lenders typically offer smaller amounts when compared to other loan kinds.
Quick loans are intended to be paid quickly, which means borrowers don’t have to pay large weekly or monthly repayments.
What are the TOP online quick loan in the Philippines for 2025?
Tonik
The Tonik credit builder is especially targeted for those with less than stellar credit scores or limited credit history. A Tonik quick loan review rates this firm high since Tonik only requires a bank account and an ID from borrowers. Plus, first-time quick loan borrowers can get as much Php20,00 on their first quick loan, payable in three to 12 months.
Unionbank
Unionbank is one of the biggest banks which is why many also consider the Unionbank quick loans as one of the best in the market. Individuals can borrow as much as two million in quick loans with a payment term of as much as five years. The Unionbank instant loans online boast of fast approval since the bank can approve loans as fast as five minutes.
CIMB Personal Loan
CIMB offers convenience for quick loan borrowers with its fast loan app in the Philippines. Borrowers need to download the app and fill up the application form which can be completed within 10 minutes. The approval time takes around two days and a borrower can loan up to one million payable within 12 to 60 months.
Frequently Asked Questions (FAQ) ❓
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Are quick loans legal in the Philippines?
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How can I find the best quick loans in the Philippines?
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Does Lafingo charge for loan comparison services?