If you’re exploring financial options in the Philippines and need funds without risking your assets, an unsecured loan might be the right solution. Unlike secured loans, unsecured loans don’t require collateral and can be used for various personal needs – from emergencies to education or even passion projects. Here’s everything you need to know about unsecured loans in the Philippines, including how they work, who can apply, and what benefits they offer. Read more and compare with Lafingo!
Best unsecured loans in Philippines in May 2025 ⭐
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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
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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 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
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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
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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
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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
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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
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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
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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
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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 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
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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
The Basics of Unsecured Loans and How Borrowers Can Benefit 📚
At some point, you may need a large sum of money either for a personal emergency, to fund the achievement of goals like a passion project, or to pay for education. But what if you don’t have savings to fund your needs or goals? What if you dislike having to borrow money from friends and family members, thinking that loans can affect personal relationships negatively?
For some, pawning or mortgaging assets may solve the problem. But if you don’t have assets to be used for collateral, what now? Before you despair, keep in mind that there is another option: an unsecured loan. But just what exactly are unsecured loans, and how do they work?
What is an Unsecured Loan?
Unsecured personal loans are loans where a borrower does not need to provide an asset as collateral. Instead, a borrower’s credit score comes into play to examine his or her creditworthiness. An unsecured loan, much like other loan types, may require borrowers to pay interest charges and other fees.
Explore your unsecured loan options now with trusted lenders in the Philippines 🚀
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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
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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
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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
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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
Secured vs Unsecured Loan 🔎
There are major differences between secured and unsecured loans:
- For one, secured loans are backed by any kind of financial asset the borrower has, or what is commonly known as collateral. These could include home loans or car loans since the house and vehicles are being used as collateral. In secured loans, the lender has the right to seize the asset if the borrower is unable to pay off the loan.
- On the other hand, unsecured credit means that no asset is needed as collateral. Because there is no collateral for the loan, the lending company will approve the unsecured line of credit based on the borrower’s history of paying creditors and credit score.
- Credit cards, personal loans, and student loans are some examples of unsecured loans. Whether a borrower opts for secured or unsecured loans, fees and interest rates must be paid.
What is an Unsecured Loan Type?
Below are some unsecured loan examples and types.
Credit card loans
Borrowers with credit cards and good credit standing can apply for loans from the credit card issuing bank. This works by having the credit card holder borrow a sum of money from the credit card provider, with the loan amount to be paid in instalments.
Personal loans
Personal loans can be used for a variety of reasons, including debt consolidation, travel funds, home improvement, or unexpected expenses.
Online loans
As the name suggests, these loans must be applied for and processed online. Online loan providers typically have apps that borrowers can use to apply for online loans. Read more about quick online loans on Lafingo.
Student loans
This unsecured loan example is meant to aid students in paying for expenses such as tuition and fees, allowance, books, and other school-related costs.
Apply for an unsecured loan today and enjoy quick approval and flexible terms 🔥
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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
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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
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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
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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
Who Can Apply for an Unsecured Loan? ✅
The requirements for applying for unsecured personal loans often vary depending on the loan provider. There are, however, some requirements that practically all loan companies require, such as:
- Meets age requirement – Loan companies only allow those of legal age to sign a loan agreement. In the Philippines, those aged 18 or 21 can start signing for loans.
- Meets income criteria – Lenders approve applications from those with regular incomes, usually set at a minimum monthly income.
- Can provide documentation – Borrowers must be ready to present a valid ID issued by the government, proof of income, or business registration documents. Failure to present these may result in the denial of the application.
Pros and Cons of Unsecured Loans
Pros
- Borrowers don’t have to put up their assets, like homes or vehicles, as collateral for the debt
- The loan application process is easier and requires less documentation
- Loan companies are quicker to approve unsecured loans
- Borrowers have more flexibility on how to use the loaned money
Cons
- Unsecured loans usually have shorter repayment periods
- Borrowers typically need to pay higher interest rates
- Borrowers may have to face more aggressive collection practices by loan providers if they default on payments.
Also, new loans usually provide the best interest rates, and unsecured loans are gaining more popularity in the region. Read more:
Choosing a Legitimate Unsecured Loan with Lafingo
When applying for unsecured loans in the Philippines, it’s important to verify that the lender is registered with the Securities and Exchange Commission (SEC) (link here). Avoid transacting with unknown or unlicensed loan apps, especially those that require upfront fees or request sensitive information without proper documentation. Stick to trusted financial institutions or check platforms like Lafingo for verified loan providers and the latest secure offers. Read more about the legit online loans in the PH:
Frequently Asked Questions about unsecured loans❓
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What is the difference between a secured loan and an unsecured loan❓
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What is an example of an unsecured loan❓
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Where can I find registered and licensed unsecured loan providers in the Philippines❓
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Can I get an unsecured loan in the Philippines with a low credit score❓
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How long does it take to get approved for an unsecured loan in the Philippines❓
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What happens if I fail to pay my unsecured loan on time❓
