Realize your dreams with the best personal loan offers

Explore a wide range of personal loan offers from the biggest banks in one place. Make a well-informed choice that best fits your needs.

Realize your dreams with the best personal loan offers

Find and compare before making your decision

Welcome Bank

Benefits of Banking with Welcome Bank

  • Modern Banking Solutions: Welcome Bank is dedicated to modernizing its banking services, ensuring customers have access to efficient and up-to-date financial solutions.

  • Diverse Financial Products: The bank offers a variety of deposit and loan products tailored to meet the unique needs of individuals and businesses.

  • Strong International Support: Being part of the Welcome Financial Group, Welcome Bank benefits from robust technical, financial, and human resources, enhancing its service offerings.
  • Diverse Loan and Credit Options: Top Bank Philippines offers a variety of loan and credit products, ensuring that customers from different financial backgrounds can find suitable financial solutions.

General Information

  • Customer Service Contact:
    • Deposits: 0917-119-4724
    • Loans: 0917-143-7159
    • Payments: 0917-145-1222
    • Customer Protection: 0905-547-7249
  • Email: banking@welcomebank.com.ph
  • Address: Unit 1701-1703, The Taipan Place Bldg., F. Ortigas Jr. Road cor. Ortigas Center, Brgy. San Antonio, Pasig City 1605, Philippines
  • Swift Code: WERAPHM2

Deposit Products

  • Savings Account: Enjoy competitive interest rates designed to help you grow your savings securely.

  • Time Deposit: Benefit from attractive interest rates, with a maximum rate of up to 7.00%, ensuring your investments yield substantial returns.
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  • ‍Checking Account: Manage your finances conveniently with flexible checking account options.

Loan Products

  • Personal Loan: Tailored to support your personal financial needs, offering flexible terms and competitive rates.

  • Salary Loan: Designed for salaried individuals seeking quick and easy loan solutions.

  • Business Loan: Provides the necessary capital to start or expand your business ventures.

  • Auto Loan: Facilitates the purchase of new or pre-owned vehicles with favorable terms.

  • Condo Loan: Assists in acquiring condominium units, making property ownership more accessible.
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  • OFW Loan: Caters to Overseas Filipino Workers, offering financial solutions suited to their unique circumstances.

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Top Bank

Benefits of Top Bank Philippines

  • Convenient Digital Banking: Top Bank's mobile banking platform allows customers to manage their finances securely and efficiently anytime, anywhere.
  • Diverse Financial Products: Offering a comprehensive suite of products, including savings and checking accounts, time deposits, and various loan options, Top Bank caters to a wide range of financial needs.
  • ‍Customer-Centric Services: With a strong emphasis on personalized service, Top Bank ensures that clients receive financial solutions tailored to their individual goals and circumstances.

GENERAL INFORMATION

  • Top Bank Hotline: (02) 8230-8TOP (8867)

  • Customer Service Email: customer.services@topbank.com.ph

  • Address: Lumiere Building 8860 Sampaloc St. San Antonio Village, Makati City, Philippines
  • ‍Official Company Name: Top Bank Philippines, Inc. (A Rural Bank)

Top Bank Philippines Products and Services

Personal Banking

  • Accounts:


    • Savings Accounts: Secure and accessible savings options with competitive interest rates.
    • Checking Accounts: Convenient checking solutions for easy fund management.
    • Time Deposits: Fixed-term investments with attractive returns.
  • Cards:


    • Debit Cards: Secure and convenient cashless transactions with global acceptance.
  • Digital Banking:


    • Mobile Banking: Manage accounts, transfer funds, and pay bills through a user-friendly mobile app.

Business Banking

  • Accounts:


    • Corporate Savings: Tailored savings solutions for businesses.
    • Corporate Checking: Efficient checking accounts to manage business transactions.
    • Corporate Smart: Integrated financial solutions for corporate clients.
  • Services:


    • Private Banking: Personalized banking services for high-net-worth individuals and businesses.‍
    • Cash Management: Solutions to optimize business cash flow and liquidity.

Loans and Mortgages

  • Personal Loan: Flexible financing options for personal expenses.
  • Salary Loan: Short-term loans designed for salaried employees.
  • Housing Loan: Competitive mortgage solutions for home purchases or renovations.
  • Small-Medium Enterprise Loan: Financing options to support SME growth and operations.
  • Microfinance Loan: Accessible loans for micro-entrepreneurs.‍
  • SSS Pensioners Loan: Special loan programs for Social Security System pensioners.

Top Bank Digital App

Top Bank's digital app offers a seamless banking experience, allowing users to manage their accounts, transfer funds, and pay bills securely and conveniently. The app's intuitive interface and robust security features ensure that customers can handle their banking needs with confidence.

Features:

  • Real-time account balance and transaction monitoring.
  • Fund transfers to Top Bank accounts and other banks.
  • Bill payment services for utilities, credit cards, and more.
  • Secure login and transaction authentication protocols.
Equicom Savings Bank

Benefits of Equicom Savings Bank

  • Convenient Digital Banking: Equicom Savings Bank offers online and mobile banking platforms that provide seamless and secure access to financial services anytime, anywhere.
  • Comprehensive Financial Products: From savings and checking accounts to loans and investment products, Equicom Savings Bank provides solutions for various financial needs.
  • Customer-Centric Services: With a strong focus on personalized service, the bank ensures that clients receive the best financial solutions suited to their lifestyle and business goals.

GENERAL INFORMATION

  • Equicom Savings Bank Hotline: (02) 8241-5952
  • Equicom Customer Service Email: customercare@equicomsavings.com.ph
  • Address: 5th Floor, Equicom Centre, 8707 Paseo de Roxas, Makati City, Philippines
  • Official Company Name: Equicom Savings Bank, Inc.
  • Swift Code: EQSBPHMMXXX

Equicom Savings Bank Credit Cards

Equicom Savings Bank offers credit cards designed to provide financial flexibility, rewards, and exclusive privileges for various lifestyles.

Features:

  • Cashback and Rewards: Earn cashback and points for every purchase, which can be redeemed for discounts, travel perks, and more.
  • Secure Transactions: Equipped with EMV chip technology and fraud protection for safer transactions.
  • Flexible Payment Terms: Convenient installment plans to manage expenses efficiently.

Equicom Credit Card Application Requirements:

  • Eligibility:
    • Must be 21 to 65 years old
    • Must have a registered mobile number and landline
  • Required Documents:
    • Completed application form
    • Government-issued ID with photo and signature
    • Proof of income: Latest pay slip, certificate of employment, or ITR

Equicom Savings Bank Loans

Equicom Savings Bank provides various loan products to help individuals and businesses achieve their financial goals.

Equicom Personal Loan

  • Interest Rate: Competitive rates with flexible repayment options
  • Loan Amount: PHP50,000 to PHP1,000,000
  • Loan Tenure: 6 to 36 months
  • Approval Duration: 5-7 days
  • Requirements:
    • Government-issued ID
    • Proof of income: COE, payslip, or ITR
    • Must have a stable source of income

Equicom Home Loan

  • Purpose: Home purchase, renovation, or refinancing
  • Interest Rate: Starting at 6.75%
  • Loan Tenure: Up to 20 years
  • Approval Duration: 3-5 days

Equicom Auto Loan

  • Purpose: Financing for new or pre-owned vehicles
  • Interest Rate: Starting at 5.35%
  • Loan Amount: Minimum PHP300,000
  • Loan Tenure: 12 to 60 months
  • Approval Duration: As fast as 24 hours

Equicom Digital Banking

Equicom Savings Bank provides an intuitive and secure digital banking platform for its customers.

Features:

  • View account balances and transaction history
  • Transfer funds and pay bills online
  • Manage credit card payments and loan accounts
  • Set up scheduled and recurring payments
  • Strong security measures for safe transactions

Equicom Promo Offers

  • Cashback rewards for select transactions
  • Exclusive discounts at partner merchants
  • Special interest rates on loans and investments
CTBC Bank

Benefits of CTBC Bank

  • Digital Banking Convenience: Enjoy seamless banking with CTBC’s online and mobile banking platforms, providing secure and user-friendly access to accounts, transactions, and payments anytime, anywhere.
  • Comprehensive Financial Solutions: CTBC Bank offers a full suite of banking products, including savings accounts, investments, credit cards, and loan facilities, catering to various financial needs.
  • Strong Customer Focus: CTBC Bank prioritizes personalized service and customer satisfaction, ensuring efficient and accessible banking solutions for all clients.

GENERAL INFORMATION

  • CTBC Bank Hotline: +632 7717-5287 / 8988-9287
  • CTBC Customer Service Email: customercare@ctbcbank.com.ph
  • Address: 16th-19th Floors, Fort Legend Towers, 31st Street corner 3rd Avenue, Bonifacio Global City, Taguig City 1634, Philippines
  • Official Company Name: CTBC Bank (Philippines) Corp.
  • Swift Code: CTCBPHMMXXX

CTBC Bank Credit Cards

CTBC Bank offers a variety of credit cards tailored to different lifestyles. Whether you seek rewards, cashback, or travel perks, CTBC credit cards provide flexible and secure payment options with exclusive privileges.

Features:

  • Rewarding Cashback and Perks: Earn cashback and enjoy exclusive rewards on shopping, dining, travel, and more.
  • Secure Transactions: Advanced security features, including EMV chip technology, protect cardholders from fraud.
  • Flexible Payment Options: Choose installment plans and payment schemes that suit your financial needs.

CTBC Credit Card Application Requirements:

  • Eligibility:
    • Must be 21 to 65 years old
    • Must have a registered mobile number and landline
  • Required Documents:
    • Completed application form
    • Government-issued ID with photo and signature
    • Proof of income: Latest pay slip, certificate of employment, or ITR

CTBC Bank Loans

CTBC Bank provides loan options that cater to various financial needs, whether for home acquisition, business growth, or personal expenses.

CTBC Personal Loan

  • Interest Rate: Competitive rates with flexible terms
  • Loan Amount: PHP50,000 to PHP1,000,000
  • Loan Tenure: 6 to 36 months
  • Approval Duration: 5-7 days
  • Requirements:
    • Government-issued ID
    • Proof of income: COE, payslip, or ITR
    • Must have a stable source of income

CTBC Home Loan

  • Purpose: Home purchase, renovation, or refinancing
  • Interest Rate: Competitive rates starting from 6.75%
  • Loan Tenure: Up to 20 years
  • Approval Duration: 3-5 days

CTBC Auto Loan

  • Purpose: Financing for new or pre-owned vehicles
  • Interest Rate: Starting at 5.35%
  • Loan Amount: Minimum PHP300,000
  • Loan Tenure: 12 to 60 months
  • Approval Duration: As fast as 24 hours

CTBC Digital Banking

CTBC Bank’s digital banking platform provides clients with easy access to their finances through a secure and user-friendly mobile app and online banking system.

Features:

  • View account balances and transaction history
  • Transfer funds and pay bills seamlessly
  • Manage credit card payments and loan accounts
  • Set up recurring payments for convenience
  • Enhanced security for safe online transactions

CTBC Promo Offers

  • Cashback rewards for select transactions
  • Exclusive discounts on partner merchants
  • Special rates on loans and investment products

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GCash Loan

Convenience and Accessibility: GCash makes financial transactions quick and easy, enabling users to pay bills, transfer money, shop online, and buy mobile load—all from a mobile phone, without the need to visit physical stores or banks.

Wide Range of Services: Beyond just a mobile wallet, GCash offers additional services like GInvest for investing, GSave for savings accounts, and GCredit for a line of credit, allowing users to manage various financial needs in one app.

Security and Reliability: GCash prioritizes user security with features like two-factor authentication and real-time transaction notifications, making it a trusted digital finance platform among Filipinos.

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Online Loans Pilipinas
  • Fast Approval and Disbursement: Decisions made within minutes; funds are released in under 5 minutes via Instapay.
  • Zero-Interest Introductory Offer: First-time borrowers can avail of loans with no interest or processing fees.
  • Convenience: Fully online application process via mobile or desktop.
  • Flexible Terms: Options for payment extensions during emergencies.
  • Customer Loyalty Benefits: Returning borrowers can access higher credit limits and better rates.

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RCBC

Digital Innovation: RCBC online banking makes it effortless at any time from everywhere because of its easy to use online and mobile banking transactions and processes.

Full Financial Solutions: To accommodate the various needs of individual and business customers, RCBC offers a full range of products such as checking and savings accounts, investments, and loan options.

Dedicated to Financial Inclusion: RCBC caters to underprivileged communities and empowers economies throughout all corners of the Philippines through programs such as DiskarTech.

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PSBank
  • Seamless Digital Experience: Quick, online access to cash, balance transfer security without the traditional banking hassle.
  • Tailored Financial Solutions: Personalized options designed to fit your unique financial situation.
  • Transparent Terms: No hidden fees, clear terms, and straightforward communication every step of the way.

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EastWest Bank

EastWest Bank is a prominent fintech innovator committed to transforming how Filipinos access financial services. Its core mission focuses on enhancing clients' financial health through a range of online microfinancing and consumer loan solutions. With EastWest Bank, individuals can explore a world of financial opportunities tailored to their aspirations, making the journey toward financial empowerment simpler.

Benefits of EastWest Bank

  • Seamless Digital Experience: Quick, online access to loans, without the traditional banking hassle.
  • Tailored Financial Solutions: Personalized options designed to fit your unique financial situation.
  • Rapid Service: Fast application and approval process to get your funds swiftly.

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UNO Bank

Phone - (02) 8811 8866, +63 919 0599866

UNOBank Customer Service Email - CustomerHappiness@uno.bank

Address - 20/F Unit 2001, The Finance Centre, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig City 1635, Philippines

Official Company Name - UNO Digital Bank

UNO Digital Bank is registered with Securities and Exchange Commission (SEC) on October 27, 2021 and is one of the six digital bank licensed by the Banko Sentral ng Pilipinas (BSP) under Resolution No. 694.

UNO Digital Bank Swift Code - UNOBPHM2

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LF Lending
  1. Transparent and Ethical Lending: LF Lending dispels the myth of high-interest non-bank lenders by emphasizing open communication and equitable procedures.
  2. Fast and Easy Access to Funds: Borrowers can get financial aid without the inconvenience of typical banking procedures thanks to a streamlined online application process.
  3. Diverse Loan Offerings: To meet the various financial needs of Filipinos around the country, LF Lending offers a range of short-term, multipurpose, and educational loans.
CashExpress

One of the top financial service providers in the Philippines, Cash Express focuses on providing both individuals and businesses with customized online loan options. Cash Express has established a solid reputation as a trustworthy partner for reaching financial objectives because to its creative thinking and customer-focused offerings for any unexpected expenses that need fast cash.

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MMloan

A well-known brand in the Philippine financial industry, M Lhuillier Financial Services Inc. provides a variety of services such as bill payment solutions, insurance, pawning, money remittance, and microloans. For Filipinos looking for prompt and dependable financial assistance, the vast M Lhuillier branches nationwide of more over 3,000 locations guarantees accessibility and ease. The company is a reliable partner in providing financial support because of its core remittance service, ML Kwarta Padala, which links families both domestically and overseas. Additionally, clients may easily access services both online and in-store thanks to its partnerships with multiple payment platforms.

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How can I be eligible for a personal loan in the Philippines?

  • Age criteria: Applicants must be from 21 to 64 years old
  • Income requirements: Meeting the specific income criteria is essential, as the minimum gross annual income varies based on the lender's policies.
  • Employment status: Applicants must be either employed or self-employed with a profitable business to establish a stable financial background for the loan application.
  • Residency: Eligible applicants should either be Filipino residents or local resident foreigners with a valid Philippine billing address.
  • Required documents: 
    • Government-issued ID
    • Optional documents: Proof of income (Payslip, bank statement)
    • An employment contract
  • Have mobile phone number: Hold a valid TIN, SSS, GSIS, or UMID number in order to verify your identity and financial condition.

Discover a personal loan tailored to
your needs in just a few easy steps!

1

Compare personal loans


Simplify your personal loan search by using Finmerkado to compare various loan options from different providers and products.

2

Choose your ideal match

Review the eligibility criteria for a personal loan. Select the loan that aligns with your preferences and needs.

3

Apply online

Complete the personal loan application form provided by your chosen lender. Make sure to provide accurate and up-to-date information.

4

Complete your application

Provide essential information such as your age, income, employment, and desired loan amount.

5

Wait for disbursement and repay on time

If your application is approved, expect notification, and wait for your disbursement. Remember to repay on time.

Best personal loan with low interest rate in the Philippines

The 21th century, an era of digital transformation where several countries have witnessed a surge in the availability of online financial services, especially in the developing nations. The Philippines, of course, is no exception to this rule, significantly focusing on personal loans with fast approval. In the lending area, this paradigm has empowered Filipinos to get greater access to speedy and convenient financial resources. What makes them stand out; what is the difference between personal and online loans; or, have you ever been curious about the banks which have the lowest interest, and the key players in the market offering fast approvals? Let's discover the world of personal loan in the Philippines!

Personal loans, what is it?

A personal loan is a versatile financial instrument tailored for the needs of borrowers, often provided by banks or online financial institutions. This type of loan does not require the pledging of collateral and allows borrowers to comfortably handle personal financial issues, in terms of billing, housing, tuition, healthcare service, home repair costs, travel and many more.

Distinctive traits of personal loans

No collateral required: Almost all personal loans are unsecured, or, negating the necessity for borrowers to furnish collateral, such as real estate or vehicles.

Tailored loan terms: Personal loans terms can be varied during a period of time, depending on the agreement negotiated between the borrower and the lending institution. This flexibility empowers borrowers to select terms that align with their financial goals, whether it's expedited debt repayment or prolonged repayment horizons.

Fast approval: Many banks and financial institutions in the Philippines offer quick approval processes for personal loans. This can be especially advantageous when borrowers need funds urgently, in terms of medical emergencies or unexpected expenses.

Potential for lower interest rates: Personal loans offer borrowers to choose between fixed and variable interest rates. Fixed rates afford predictability and ease of budgeting, while variable rates fluctuate in response to market dynamics, potentially introducing variability to the loan's cost over time.

Streamlined application process: To apply for personal loan in the Philippines, borrowers only need to meet some basic requirements, in terms of age criteria, income requirements, Government-issued ID, residency and a mobile phone number.

Opportunity for credit repair: Successfully managing personal loans can help borrowers improve their credit scores over time. By making on-time payments and meeting the loan's terms, borrowers can demonstrate responsible financial behavior and work toward rebuilding their credit.

The credibility of personal loans

Among thousands of different banks and lending partners on the market, borrowers need to consider carefully before deciding to borrow from any financial institutions. There are many significant factors to decide whether the lending unit is precise, as below are some factors that help borrowers evaluate the overall reliability of financial institutions.

  • Precise financial institutions in the Philippines are registered with government agencies such as the Securities and Exchange Commission (SEC) or the Bangko Sentral ng Pilipinas (BSP). You can check for the lender's registration details on their website.
  • Transparency and clarity about interest rates, conditions/procedures in loan contracts
  • Publicly, fully post and agree on fees, including surcharges
  • Should has been operating for many years in the financial market
  • Cooperating with many other financial institutions that are also highly reputable in various fields
  • Owning several branches nationwide
  • Achieving achievements and awards in specialized fields of activity
  • Customer reviews: Remember to always check for other borrowers' reviews and ratings before considering applying for a loan. Satisfied customers often leave positive feedback, while a multitude of negative reviews may indicate a problematic lender.

How can you be eligible for a personal loan in the Philippines?

  • Age criteria: You must be from 21 to 64 years old
  • Income requirements: Meeting the specific income criteria is essential, as the minimum gross annual income varies based on the lender's policies.
  • Required documents: 
  • Government-issued ID
  • Optional documents: Proof of income (payslip, bank statement); An employment contract
  • Employment status: Applicants should have a job with a monthly stable income in order to repay the loan.
  • Residency: Eligible applicants should either be Filipino residents or local resident foreigners with a valid Philippine billing address.
  • Have a mobile phone number: Hold a valid TIN, SSS, GSIS, or UMID number in order to verify your identity and financial condition.

Which bank gives personal loans easily?

To find a financial resource to get a fund or just for an emergency situation, the first and foremost question that borrowers consider would be "Is this bank/financial institution easy to lend?". In addition to the basic requirements set when applying for personal loans in the Philippines, in terms of age, identification documents, phone number, several banks and financial companies need to know more about employment situations and income of the borrower to consider whether to approve the loan. Below are the top banks that would be easier to lend in the Philippines:

Metrobank: Metrobank has an uncomplicated loan process. For Metrobank personal loan requirements, borrowers just need to submit a signed promissory note and disclosure statement and valid government ID. Metrobank's loan limit is up to PHP 1 million with an extremely preferential interest rate of 1.25%. The Metrobank personal loan approval time can take as fast as three to five business days.

BPI: Compared to many other banks, BPI has a much simpler loan process. For employed borrowers, to apply for a personal loan, borrowers need to provide identification documents and the most recent 3-month salary statement. For unemployed ones, in addition to identification documents, they should submit a 3-year audited financial statement, or an income tax return and DTI/SEC business registration certificate.

For identification documents, BPI allows borrowers to use a passport, driver's license and health insurance card to register.

What is the difference between personal loans and online loans?

Whenever needed for any financial purpose, including consumption, travel, home improvement, shopping, or healthcare, borrowers have a tendency to give thought to personal loans and online loans, owing to several convenient features, as well as an uncomplicated approval process.

Personal loans are loans for one's own purposes, regarding face to face application at the bank or finance company's branch, or borrowers can thoroughly register online. Both of these methods have no call for collateral; borrowers have the opportunity to experience low interest rates and quick disbursement. The contrast between these two modalities is that applying directly at the branch may require plenty of verification documents, as well as take a lot of time for loan approval.

Meanwhile, online loan is a great choice for tech-savvy borrowers, exclusively accessible via digital platforms, thanks to the uncomplicated registration process, fewer documents, or even movement. You can get your loan with just one click.

What bank in the Philippines that offers personal loan online applications?

In order to save time and cut down on cumbersome procedures, currently, a growing number of Philippine banks have implemented online personal loans. Borrowers easily initiate their loan application through online registration, submit necessary documents and wait for loan approval. Some typical banks pioneering this form can be stated as:

Robinsons Bank: Robinsons Bank is one of the spearhead banks in online personal lending. Robinsons Bank offers personal loans, including Go! Housing Loan, Go! Auto Loan, and Go! Motorsiklo Loan. Borrowers can apply for a loan that suits their needs, fill out the loan application, provide required documents such as valid government-issued IDs, proof of billing address or income, submit the application and wait for approval from Robinsons Bank.

Sterling Bank of Asia: Sterling Bank of Asia's personal loans page has a straightforward but contemporary interface, allowing borrowers to find all the information they need, from loan limit, interest rate or loan term. In addition, borrowers can use the loan calculation tool to calculate the monthly repayment.

UNO Bank: UNO Bank is a wise choice for tech-savvy borrowers. With a modern, active and functional interface, UNO Bank allows users to apply for personal loans online. After selecting a fitted loan, borrowers only need to enter personal information, selfie images, set up an account and wait for approval from UNO Bank.

BPI: BPI can be said to be one of the "national banks” in the hearts of borrowers, or, providing the best personal loan in the Philippines, withfast disbursement and preferential interest rates. With only 5 to 10 minutes of registration through an online loan application, you might complete a process to get a personal loan with PBI.

Which bank has the lowest interest rate on personal loans in the Philippines?

Every borrower dreams of securing a loan with a low interest rate. The financial market is vibrant with numerous banks announcing competitive interest rates, providing borrowers with a multitude of choices. Among the financial institutions in the Philippines that provide personal loans with favorable interest rates, a few noteworthy names include:

BPI: BPI provides the best loan in the Philippines with competitive interest rates. The maximum Annual Contractual Rate (ACR) of this bank is 25.60%. Borrowers can borrow from 12 to 36 months, with a small one-time processing fee deducted of PHP 1,500. For example, if you borrow PHP 25,000 for 12 months, you will have to pay PHP 2,383.33 monthly.

EastWest Bank: EastWest Bank allows a personal loan limit of up to PHP 2 million. Borrowers can apply for a maximum of 36 months, with a monthly interest rate of about 1.79%. If you want to borrow PHP 25,000 for 12 months, you will have to pay PHP 2,530.83 per month.

What is the best bank for quick personal loan in the Philippines?

An initial factor to consider when seeking a personal loan can be stated as ease of approval. Although the evaluation timelines may vary for particular cases, hereby well-known banks in the Philippines can be mentioned having straightforward approval processes:

PS Bank: Fast like the wind, PS Bank provides a quick application process, allowing borrowers to get approval and disbursement from 1 to 3 banking days, depending on their credit history. 

PBCom: Another “God of Speed" calls out PBCom bank when borrowers who apply for personal loans can get a chance to receive approval within 3 banking days. 

EastWest Bank: Prompt processing at EastWest Bank empowers borrowers to receive an approval in 5 to 7 banking days when applying for a personal loan, whether looking to seize an opportunity or address an urgent financial need.

How to compare personal loans? 

Among numerous banks and financial institutions on the lending market, one pivotal step prior to making your application is to research and compare loans. Is this loan your perfect match, tailored to your specific needs? Can you manage to repay this loan; is this interest rate the optimal choice, or could this a precise lending partner?

A few features you need to consider before deciding on a personal loan in the Philippines:

Loan limit: How much money do you need to borrow and for what occasion? Are you looking to fund home improvements, cover everyday expenses or address healthcare bills? Each bank will have different loan limits, so it's essential to align your choice with your specific financial requirements. 

Interest rates: Loan with low interest rates mean you will be charged less throughout the loan process. You should take a look at loan comparison tools and stay informed by perusing the latest financial news to know which banks and financial institutions have competitive interest rates. Also, take into account the annual percentage rate (APR), which includes both interest and fees.

Additional fee: Does this bank charge any extra fees, or could it be waived for the borrower? Most banks will offer zero or interest-free incentives for the first year to encourage people to borrow, and start charging fees in subsequent years. Scrutinize these terms carefully.

Loan term: How long you plan to borrow is relying on your loan purpose. substantial investments like a house or car tend to be long-term, while those for consumer expenses or travel plans are typically short-term.

Disbursement time: This is one of the crucial factors when people choose to apply for a loan. Opt for banks with easy loan application processes, quick approval mechanisms and disbursement to cater to your immediate financial needs.