There are many online lenders and physical establishments that offer fast loan in 15 minutes Philippines. Some are pawnshops, but you have to offer jewellery before they lend you money. Below are some types of creditors.
1. ACOM REVOMax Cash Loan
This company offers huge fast loans to Filipinos with flexible teniure. You can borrow up to ₱500,000 and pay up to 3,600 days, or the equivalent of about 10 years.
The minimum loanable amount is ₱5,000, with an monthly interest of 3.315%. Take note that this interest rate is calculated against the principal.
The good thing about this lender is that they only charge ₱1,000.00 for the processing fee and an additional disbursement and miscellanaeous fee of ₱500.00, which is also called a lending fee.
With REVOMax loan, you wll get your cash up front. After submitting the requirements, the loan processing can take as short as one day only.
2. RFC Personal Loan
Another fast loan you can try in the Philippines is RFC Personal Loan. Here, you can borrow a maximum of ₱50,000 with no collateral.
You need to present your proof of income, and you must earn at least ₱7,000 per month if you are from the province. If you are from Metro Manila, you have to earn at least ₱10,000.
RFC offers guaranteed cash. The loan processing can take between three and five days. The interest rate is 3.5% per month.
The maximum loan tenure with RFC is 12 months only, and you have to pay a notarial fee of ₱500 once your loan is approved. There is no need to have a co-borrower or co-loaner to get approved for a loan.
3. Cashwagon Cash Loan
With cash wagon, you can get a loan even if your monthly income is only at ₱6,000. What they offer is a small amount of loan with a tenure of 30 days.
The minimum loan amount is ₱8,000, with an interest of 12% per annum. The maximum amount that they can finance is ₱20,000. Because of the small amount of loan, the processing time is also one day only.
They charge no processing fee, but they will charge a late fee of ₱500 if you default. They charge a late fee on the 3rd, 10th, 20th, and 30th day of default. You also need to lin k a bank account before you can apply for a loan.
4. TALA Philippines
Furth on our list is TALA where you can borrow as littles as ₱1,000. The interest rate is 15% per year, and you have between 21 and one month to pay your loan back. The processing takes less than one day.
The maximum amount of money you can loan is ₱10,000. They do not charge money for processing and stamp duty. However, they may charge a disbursement fee. the disbursement fee depends on the cash-out channel that you selected.
There is also a late fee that is equal to 8% of your outstanding balance. Despite not charging processing fees, they will charge you a service fee of 11% for a loan that you will pay in 21 days. This fee increases to 15% if your tenure is 30 days.
5. Asteria Personal Loan
Last on our list is Asteria where you can loan as little as ₱2,000. However, the interest rate is 24$ per year. The loan tenure can last between 10 weeks and three months. You can get approved within one banking day.
If you want, you can also avail their promo where you will pay 0.8% of the interest on a daily basis. You can apply online and you can get approved for this promo loan in as ast as 48 hours.
The maximum amount that the company can loan is ₱20,000. There is a processing fee of 10% of the loan, and you will pay ₱800 for late payment. You will pay 1% of late payment fee everyday your payment is delayed.
The minimum salary requirement before you can apply for a loan is ₱10,000. You need to present documents to verify your identity.
There are many other companies in the Philippines that offer fast loans. The good news is that almost all of these are online facilities. You just need to visit their website and then read the terms and conditions. Find out what documents they need, and you will be ready to get a fast cash loan.