Top 7 Best Legit Online Loan Apps In Philippines 2023

I will be discussing the top 8 best legit online loan apps in Philippines that can help you get quick cash loan when you are hit with financial emergency or when you have unexpected expenses. Loan apps are becoming increasingly popular – more and more Filipinos prefer to draw up a loan just by taking a smartphone into their hands and downloading just any loan app. But the question is: can you trust such lending application to be legit or they may just be fake loan apps out to deceive intending borrowers. This article will help you to make the best reputable loan choice if you are in Philippines.

Online cash loan apps in Philippines are loan applications where you can apply online directly without visiting the lender’s office physically. Communication and exchange of information between the borrower and lender will be done online throughout the application process which is usually very quick and hassle-free. Most online loans are unsecured and will only require minimal or no documentary requirements. The release of funds is also very convenient as it’s directly transferred to your bank account or debit card.

However, compared to the conventional personal loans offered by banks or private lenders, the loan amount, especially for first-time borrowers may not be as big.

1. Juanhand App 

Juanhand is one of the fastest online credit platform and loan apps in Philippines. It was developed by Wefund Lending Corp and offers customers urgent loan from 2.000 – 10.000 PHP with repayment term ranging from 91 – 180 days.

Customers who borrow money via the Juanhand app only need ID card, no need to prove income or collateral, only 15 minutes to make 100% online application and disburse through the borrower’s bank account. Juanhand is one of the unique Fintech platforms in the Philippine to provide you 24-hour approval cash loan service online whenever and whatever.

2. GCash App — Best for Cashless Transactions

GCash Application, best for cashless transaction is another loan app in Philippines that allows you to turn a mobile phone into a virtual wallet. With it, the user can pay for purchases and transfer money at the speed of a text message. GCash App allows you to easily and quickly make various transactions without cash!

Users of GCash app can pay for purchases in online stores without using a physical card. To do this, the American Express Virtual Pay card related with the mobile wallet is used. The minimum loan amount in this application is ₱3000 up to ₱10000. Loan term is 15 days while interest rate is 0% Payments amount: ₱0 for first loan. Second Loan Term: 30 days Payment frequency: every 2 weeks Interest rate: 1.5% daily Payments amount: ₱641

3. Tala App 

Tala application is a mobile app that allows you to get a quick online loan ranging from 1 to 2 thousand Philippine pesos typically in 5 minutes. Loan funds are credited to the client’s bank account or electronic wallet. Borrowers can also get their money at the nearest Tala office.

With this app, users can enjoy fast, flexible, and secure loans up to PHP 15,000 with rates as low as PHP 5 per day. You can easily download the app to get quick cash loan! Tala allows you to get a loan for a period of 21 or 30 days. In the first case, the size of the one-time commission will be 11%. When applying for a loan for a 30-day period, a one-time commission will be 15%.

4. MoneyCat App

MoneyCat is one of the best and most legit loan apps in Philippines, being a financial and technical platform designed specifically for residents of the Philippines. It provides financial mobility to Filipinos and the possibility of instant borrowing at any time of the day. This application is based on mobile Internet security technology and Big Data analysis.

Money Cat application allows borrowers to receive credit for loan tenure from 90 to 180 days. Interest rate through this application is 16.6% per month. Borrowers are not charged for the transaction. This service is available only to Philippine citizens over the age of 20. It takes no more than 5 minutes to register an account, submit an application and conclude an agreement with MoneyCat.

5. PeraAsia App

PeraAsia application – a mobile application that allows residents of the Philippines to get a quick online loan. To do this, it is enough to fill out the form and apply. According to statistics, more than 95% of PeraAsia users receive a positive response from loan officers. This is one of the best lending app.

PeraAsia app services are available exclusively to individuals aged 20+. It usually takes no more than two minutes to process an application from clients. Potential borrowers can draw up loans ranging from 1 to 30 thousand Philippine pesos. The minimum loan term is 61 days, the maximum is 360 days. As the loan term increases, the interest rate rises.

6. BPI Mobile

BPI Mobile is the app of the Bank of the Philippine Islands. With this app, you can check your balance, transfer funds within your different accounts, pay your bills, and even transfer money to other people. You can have access to all banking services with the BPI app. Get the same digital banking experience as BPI Online from the comfort of your pocket.

BPI has several loan types, but we will focus on the personal loan. With BPI, you can loan up to 3x your gross monthly income. The minimum loan amount is ₱20,000. A great feature of the loan is that you can pay them on different terms. You can choose between 12 and 36 months.

7. Online loans Pilipinas

Online Loans Pilipinas (OLP) is a fintech platform that caters for digital financial solutions in response to Filipinos needs. The platform is focused on online micro and consumer financing and aim to uplift the financial well-being of customers.

You can get loan for as low as 0% interest rate and without other fees or charges. The minimum interest rate is 0% and maximum APR is 200%. One time late payment fee is 500₱ (in case of delinquency of each monthly payment). For new and valued repeat borrowers: the loan amount is from 1,000₱ to 25,000₱. Subject to evaluation, the credit term reaches from 90 days to 180 days.