Currently, you can apply for online loans in the Philippines thanks to the fact that there are several loan providers in the country which offer easy financing without paperwork or hassle to their users.
You will only need to submit an application through their online platform, fill in your personal information, upload the documents requested by the lending partner, and wait a few hours or a day to confirm whether your loan has been approved.
As a general rule, online loans are not as strict in eligibility compared to the requirements that can be requested in a traditional bank. In order to obtain a loan, you only have to meet the following requirements:
- You must be a resident of the Philippines.
- You must live at the same address for at least one year.
- Credit applicants may be employees, self-employed, or professionals.
- The credit applicant must be employed for at least one year by the same company.
- The minimum monthly income cannot be too low.
- You must have a bank account and an e-mail address.