Choose the best loan online

Minimum loan amount

20000 ₱

Maximum loan amount

500000 ₱

Minimum loan term

6 months

Maximum loan term

18 months

Max. APR

69 %

Minimum age

18 years

14

Loans designed for Overseas Filipino Workers (OFWs)
Representative example: Loan amount: 20000 ₱, Loan Term: 6 months, Monthly payment: 4747 ₱, Total amount repayable: 28482 ₱, APR: 69 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Minimum loan amount

10000 ₱

Maximum loan amount

90% of the deposit account balance

Minimum loan term

6 months

Maximum loan term

36 months

APR

17.06 - 41.71 %

Minimum age

21 years

15

Representative example: Loan amount: 10000 ₱, Loan Term: 12 months, APR: 26.63 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Minimum loan amount

10000 ₱

Maximum loan amount

200000 ₱

Minimum loan term

3 months

Maximum loan term

12 months

APR

36 - 81.23 %

Minimum age

18 years

12

Representative example: Loan amount: 10000 ₱, Loan Term: 12 months, Monthly payment: 1133,33 ₱, Total amount repayable: 13599,96 ₱, APR: 36 %
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Useful information about financial products and debt management

Before you borrow

Before you borrow money you should ask yourself whether your really need to spend the money and whether you can afford to pay back the money you're planning to borrow. Before borrowing ask yourself:

  • Can the purchase wait until I can afford it without taking a loan?
  • If the purchase is urgent is there another way I can get it? For example, ask employer for money advance, borrowing from family or friends.
  • If the purchase is not urgent can I save up money?
  • Will I be able to make the loan payments?
  • What type of fees I will be charged with?
  • Will the interest rate change? If it will change will I be able to make loan payments?
  • What could happen if I miss a payment?

Loan term

Choose the shortest loan term you can afford. Longer-term loans might seem appealing at first as there are lower monthly repayments, however it may turn out that the total repayment is higher. If affordable it's better to take a loan for shorter period of time and pay back higher amount of money each month.

Look at your income and outgoings and think if you'll be able to pay all your bills and debts.Calculate how much you can afford to repay each month. If your budget shows that you'll have no money for extra payments then it means you can't afford to take a loan.

Don't accept first loan you're offered, compare various lenders to make sure you get the best possible loan offer!

You should never take a loan if you are not sure of your capability to pay the loan back on time.

Requirements to qualify for a loan

  • You must be a resident of Philippines.
  • You must have reached the age of majority in your province of residence.

Make sure you have the paperwork your lender might ask you

  • Proof of identification.
  • Proof of income.

Annual Percentage Rate (APR)

Annual Percentage Rate represents an annual cost (in %) of borrowing. The APR takes factors such as interest rate and certain other fees and charges into account. In order to make it easier for you to compare one loan to other similar loans, lenders are required to tell you their APR before you sign an agreement.

For example:

Lender A offers
5000 ₱ for 2 years
with an APR of 27.3 %
Lender B offers
5000 ₱ for 2 years
with an APR of 30.6 %

As it shows, in the scenario above, borrowing from Lender A would be a better idea, because you would get the same amount of money for the same term, but each month you would pay less interest.

However, it is important to remember that you should only use the APR to compare alike conditions of loans. For example, comparing the APR of a quick loan to the APR of a traditional longer term loan or a consumer loan wouldn't be helpful at all.

Borrowing costs and fees

  • Establishment fee: some lenders may ask you to pay this fees when setting up your loan.
  • Monthly loan administration fee: some lenders may ask you to pay monthly loan administration fee.
  • Early loan repayment fee: You may be asked to pay this fee if you decide to pay-out your loan early. This fee is calculated according to how much you still owe to your lender and for how long.
  • Late payment charges: if you miss a payment you usually have to pay late payment charge, so make sure you never miss a payment to avoid extra charges, also please note that this can also affect your credit score, which can make it harder to borrow money in the future.
  • Enforcement expenses: if you don't pay back your loan, your lender can go to court to recover the owed money, in such cases you will be asked to cover these expenses.

Make sure that the lender is licensed

You should only borrow from licensed lenders, make sure that the company has a license number in each state where they do business. This information usually can be found on lenders website.

If you're not able to pay back loan on time

Contact your lender immediately to discuss your payment options.

Which is the best place to apply for a loan?

There are quite a lot of loan companies. We recommend you refrain from cooperating with companies that provide dubious service or companies with bad customer reviews. On our site you will find reliable companies that have been working in the field of crediting for a long time.


MoneyGuru24 is not a bank, lender, broker or product issuer. MoneyGuru24 is not owned by a financial institution but is an independent company owned by private shareholders. All information provided on MoneyGuru24 has general and informative nature. Although MoneyGuru24 covers wide range of loan products and providers, keep in mind that those are not the only options available in the market and may not be the best fit for you. We do not consider your personal circumstances and financial situation and we are not recommending any particular products. If you choose to apply for a loan product through MoneyGuru24 website you will be dealing directly with the loan provider not with MoneyGuru24. It is recommended for you to read all relevant documentation given by the loan provider before accepting any financial product offer.

FAQ

  • Should I consider getting a loan?

    If you find yourself in a sudden need of money, for example, you receive an unexpectedly big bill for a service, first – talk over with whomever you got your bill from and explain the situation you’re in. If you suffer from a chronic debt problem, taking a loan can make the situation worse. Be aware of your financial status at any time.

  • How much will I pay?

    Interest rates vary in different financial companies. That is where MoneyGuru24.com comes in handy, because you can actually compare rates, terms and conditions to find the most efficient loan strategy for your needs.
    You should always check the small print in loan provider web page, but in majority of cases you don’t have to worry about administration fees or hidden costs. So be careful, considering your payments.

  • How do I get a loan?

    You can apply for a loan using an online application form. To get the loan you have to be over 18, employed, with a regular monthly income and have a bank account.
    Even though the application is easy, you shouldn’t rush into getting a loan. Be careful and read all the information, small print, terms and conditions on the politics of financial enterprise which you find most efficient after comparing all the options in MoneyGuru24.com.

  • What happens if I can’t pay back my loan?

    If you're not able to pay back loan on time, contact your lender immediately to discuss your payment options. If you miss payments or fail to repay your loan then it is quite possible that the lender will leave a bad mark in your credit reference file. This can cause difficulties to obtain credit, leasing or other financial services in the future. Serious cases of missed payments (non-payment) can be brought to court. In this case, the court costs will be added to the amount of your debt. For more information about loan conditions visit your lender’s website.

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