5 Best Loan Apps With Fast Approval in the Philippines in 2024

If you badly need cash and do not have enough time left, ask for help from the best loan apps with fast approval in the Philippines.

The best loan apps in the Philippines will lend you money in minutes. There is no need for collateral or to submit many documents—just one ID, and you’ll get the money!

There are hundreds of loan apps in the Philippines offering fast online loans. Unfortunately, not all of them are legit. That’s why you must be very careful when choosing a loan app, or you’ll be the next target of scammers.

We did strenuous research to help you find the best loan apps with fast approval in the Philippines. We check the legality, credit limit, requirements, and features to provide the most reliable list of loan apps you can rely on during emergencies.

Before we discuss the top 5 options we recommend, it’s best to reorient you to the concept behind online loan apps in the Philippines.

What are Loan Apps in the Philippines?

Loan apps in the Philippines offer quick cash loans via mobile phones, sometimes directly on websites.

Online loan apps benefit Filipinos who badly need money to survive emergencies.

Applying for an online loan is very easy. Download the loan app (or visit the website) where you want to apply, and you’ll be all set!

Regarding the requirements, loan apps in the Philippines are entirely hassle-free! Just upload a photo of one valid ID and provide your personal information. Once approved, you can receive the loan proceeds in minutes.

Pros and Cons of Loan Apps in the Philippines

Generally, loan apps in the Philippines have the following pros and cons:

Pros

• Non-collateral
• Lesser requirements
• Easy application process
• 100% online application
• Fast disbursement
• Flexible loan disbursement methods

Cons

• Low credit limit
• Shorter loan term
• High-interest rate
• The app may put your personal information at risk
• Some loan apps resort to harsh loan collection strategies

How to Know if a Loan App is Safe?

• SEC-registered (granted with an SEC Registration Number)
• Transparent fees/ charges
• The information posted is consistent
• No to-good-too-be-true promises

Factors to Consider When Choosing the Best Online Loan Apps With Fast Approval

• Legality
• Eligibility and requirements
• Loan amount and term
• Interest rates
• Security and privacy safety nets
• Customer support
• Apps’ user experience

We’re glad you reached this part! This time, we will reveal the top 5 best loan apps with fast approval in the Philippines in 2024. Make sure you read all the details and decide intelligently.

5 Best Loan Apps in the Philippines With Fast Approval

1. Tala

With 1 million total users, Tala is one of the best loan apps with fast approval in the Philippines.

Tala Financing Philippines Inc. owns Tala loan app. 

With SEC registration number CS201710582, you are guaranteed a fair online loan product with Tala.

Tala offers up to ₱25,000 credit limit to borrowers with good credit standing. But of course, first-time borrowers get a lower offer, as low as ₱500- ₱1,000.

Tala offers a maximum loan term of 61 days. However, new borrowers usually receive a shorter loan term offer, usually seven days. But don’t worry—as the borrowers establish a good credit record, the loanable amount and the loan term will also increase.

To start the application process, download the Tala app, which is available on Google Play and the App Store. Then, follow the instructions on the Tala dashboard to proceed with your loan application.

Aside from the easy application process, Tala only requires one valid ID for borrowers.

Indeed, if you are facing financial emergencies, Tala will surely save your day!

Tala Loan Details

• Loanable amount: ₱500- ₱1,000 (new borrowers), up to ₱25,000 (repeat loans)
• Interest rate: 0% interest for first-time borrowers, 15.00% per month for reloans
• Loan Term: 7- 61 days

Loan Application Requirements:

• 18 years old
• Philippine resident
• One valid ID
• Active Philippine-registered mobile number

Tala Loan Application Process:

• Download and install the Tala app
• Open the Tala app
• You need to sign in using your number
• OTP will be sent to your number
• Input the OTP
• Create a 4-digit pin
• You will be informed that Tala can manage calls, SMS, and contacts on your device
• Tap ‘Start My Application’
• Input information on how you hear about Tala (family, friend, online ad, radio, TV, outdoor ad, and others)
• Enter promo code (optional)
• Tala Home dashboard will appear; if you are ready to borrow, click ‘continue’
• Click ‘Let’s Go!’
• At this stage, you need to input your personal information and click ‘Continue’
• Infos to be collected includes: Legal First Name (as reflected on your ID), Legal Middle Name (as reflected on your ID), put NA if not applicable, Legal Last Name (as reflected on your ID), Date of Birth, Place of Birth, Civil Status, Mother’s Maiden Name, Gender, Email address, Alternative phone number (optional)
• Click ‘Save and Continue’
• The next pop-up will ask you to write information on the following: Province/ City, Barangay, Permanent street address, Postal Code
• Click ‘Save and Continue’
• The next screen will ask you: Do you own this phone? What ID would you like to apply with?
• Review your personal information, click ‘Review and Continue’
• At this phase, Tala will welcome you to its platform so you can formally apply for a loan
• You will be asked about the purpose of your loan (business expense, personal expense, pay bill). Note: You need to briefly describe the purpose of your loan, click ‘Save and Continue’
• Indicate your educational level and the type of work, and click ‘Save and Continue’
• Provide information about your job, including the name of your current employer, industry type, work tenure, how frequently you get paid, when is the next payday, and the monthly income, click ‘Save and Continue’
• Indicate your primary source of funds: allowance, business, commissions, salary, etc.
• Write your other sources of income, click ‘Save and Continue’
• Answer the following:
• Is this your primary source of income? (answer: yes or no)
• How much money do you receive each payment? Click ‘Save and Continue’
• Do you have any outstanding loans? (Answer yes or no)
• How much is your outstanding loan?
• How much did you spend on basic needs, rent, utility bills, and loans in the last 30 days? Click ‘Save and Continue’
• Review your answer and click ‘Submit Application’
• After a few seconds, refresh the Tala app, and you will know if your application has been approved or rejected. Aside from the app, you may also receive an SMS notifying you of the status of your application
• If your application is approved, you will see the credit line Tala will offer you. Of course, the loanable amount will depend on the information you provide on the app. Take note also that first-time borrowers usually get a lower credit limit compared to repeat borrowers

Pros and Cons

Pros

• Available both in Google Play and the App Store
• Registered in SEC
• Only one valid ID is needed (choose any: SSS, TIN ID, UMID ID, Passport, National ID, Postal ID, Voter’s ID)
• No collateral
• No harassment
• Flexible repayment terms

Cons

• Connected with the Credit Information Corporation (CIC), you need to pay on time, or your credit record will be compromised
• Tala will get access to your device, including its contact list, SMS, camera, and storage

2. JuanHand

JuanHand is also one of the best loan apps with fast approval in the Philippines. According to the SEC’s database, JuanHand is owned by Wefund Lending Corp.

JuanHand legally operates in the Philippines under SEC Registration Number CS201825672.

The minimum loanable amount JuanHand offers is  ₱2,000, while the maximum is  ₱25,000.

If you’re a new borrower, expect to get a low credit limit and a shorter term. But as you build a good credit standing, the loan offer and term will also increase.

To qualify for a JuanHand online loan, you must be at least 21 years old and have a stable source of income.

Like Tala, you only need to present one valid ID to apply for a JuanHand online loan. The accepted IDs are driver’s license, SSS ID, TIN ID, National ID, and passport.

If you need cash quickly, apply for a JuanHand online loan today!

JuanHand Loan Details

• Loanable amount: ₱2,000 – ₱25,000
• Interest rate: 0% (first-time borrowers), 0.06% per day (repeat borrowers)
• Loan Term: 7- 90 days

Loan Application Requirements:

• Filipino citizen
• 21 years old up
• With a stable monthly income
• Active mobile number

JuanHand Loan Application Process

• Download the JuanHand app available on Google Play and App Store
• Create an account using your active mobile number
• Input the OTP
• Create a password
• You will land on JuanHand’s Home page
• If you want to borrow, tap ‘Borrow Now’
• JuanHand will ask you to manage your device, including phone calls, camera, and SMS; click ‘I Understand and Agree’
• Provide your details, including the purpose of the loan, educational level, residential address, number of credit cards, email, and work information; click ‘Next’
• Provide three contact references. Names and contact numbers of the references will be generated from your phonebook. Click ‘Next’
• Facial recognition will follow; take off sunglasses, remove the hat, and don’t be in an area too dark. Click ‘Verify Now’
• Provide ID Information, particularly the following:

• ID Type (Recommended ID Type are UMID, Passport, SSS, and PRC; other options include driver’s license, voter’s ID, postal, TIN, PAG-IBIG, PhilHealth, and National ID/ Philsys ID). You must upload a photo of the ID you want to use
• Next is input the following: ID Number, First name (as seen on the ID), Middle Name (optional), Last Name (as seen on the ID), Mother’s maiden name, Gender, Date of Birth, Marital Status
• Click ‘Next’
• After filling out the needed information, JuanHand will evaluate your application and notify you shortly if you’re approved or rejected. Once approved, you will also see the loan amount JuanHand will offer you. Like other loan apps with fast approval, JuanHand first-time borrowers receive a lower credit limit than repeat borrowers. Also, first-time borrowers get a shorter loan term

Pros and Cons

Pros

• With excellent customer service
• One valid ID is required (driver’s license, SSS ID, TIN ID, national ID, passport)

Cons

• Your personal information may be put at risk

3. Finbro

Finbro is also one of the best loan apps with fast approval in the Philippines.

Sofi Lending Inc. owns Finbro, which operates under SEC Registration  Number CS201908275.

Unlike other loan apps in this list, Finbro is a more secure platform. You are no longer required to download an app to apply for a loan, so your personal information is safe.

Instead of downloading an app, head to Finbro’s official website to start the loan application process. 

The best thing about Finbro is that it offers 0% interest rate to new borrowers. The processing fee is also waived if you are a new client.

Also, one great feature of Finbro is that you can uncheck the ‘Borrowers’ Advantage Package,’ lowering the interest rates. Just upload a copy of your Certificate of Employment or payslip to uncheck the said bundle. 

Finbro Loan Details

• Loanable amount: ₱1,000- ₱15,000 (first-time borrowers), up to ₱50,000 (repeat borrowers)
• Interest rate: 0% interest rate for first-time borrowers, interest rate for reloans will depend on the granted loan amount and the term (usually it’s around 6% per month)
• Loan Term: 7-30 days (first-time borrowers), up to 12 months (repeat borrowers)

Loan Application Requirements

• Filipino citizen
• 20- 70 years old
• Employed/ regular source income
• One valid ID (choose from UMID, SSS, passport, and driver’s license)

Finbro Loan Application Process

• Visit the Finbro Website
• Set the loan amount. After determining the amount you want to borrow, you will also see other information, such as the next payment date and loan tenure
• To continue, log in using your email or mobile phone number; if you’re a first-time borrower, click ‘Register Now’

To register a new account, you need to input the following:

• First Name
• Middle Name
• Last Name
• ID card type (choose any of the following: SSS, UMID, passport, driver’s license, postal ID. You need to upload a photo of the ID that you will use later in the application process)

You also need to write the following information:

• ID Number
• ID expiration date
• Date of birth
• Gender
• Civil status
• For the contact information, you need to provide your email address and active mobile phone number
• Click ‘Get Verification Code’
• Input the verification code
• Create a password (at least four characters)
• Click ‘Continue’
• You will be redirected to your Finbro account page
• Fill out employment information, including occupation, working industry, and company name
• Next is the income information. Provide details on your total monthly income and total monthly expenses. Click ‘Continue’
• Your relative’s information is next. Choose one relative and write his or her full name, your relationship to that particular person, and his or her contact number. Don’t worry; Finbro will not contact your relative (of course, it’s another promise you have no other option but to believe). Click ‘Continue’
• Next are details of your address. Indicate the province, city, barangay, village (if applicable), and street (if applicable). Click ‘Continue’
• Choose your preferred loan disbursement method. You can choose a bank or e-wallet (GCash, Maya, GrabPay, DCPay, OmniPay, Starpay, and click ‘Save’
• Next, you need to upload a photo of the valid ID you indicated earlier
• Also, you need to take a selfie holding the same photo
• Click ‘Continue’
• Finbro will evaluate your application. You will be notified shortly of the credit limit that will be offered to you based on the information that you’ve provided

Pros and Cons

Pros

• No app download is needed
• 0% interest rate for new borrowers
• No Processing fee
• Multiple loan disbursement methods
•  

Cons

• Collects too much personal information
• Intrusive customer support (contacts clients even if they cancel their application)
• Accepts limited valid IDs

4. MabilisCash

MabilisCash is also on our list as one of the best loan apps with fast approval in the Philippines.

According to the SEC’s website, MabilisCash is owned by Mali Lending Corp and operates under SEC Registration Number CS201907662.

MabilisCash online loan is a no-collateral type of loan, which means you can apply for a loan anytime without presenting valuable properties as a fallback.

You will be offered a credit limit of around  ₱300-  ₱100 for the first loan. However, if you keep a good credit record, the loan offer will eventually increase, as well as the term.

Meanwhile, repeat borrowers may get a credit limit offer of ₱25,000.

To get started, download the MabilisCash app, available on Google Play and in the App Store. Also, make sure you have at least one valid ID: a TIN ID, driver’s license, SSS ID, UMID, National ID, or passport.

MabilisCash Loan Details

• Loanable amount: ₱300- ₱1,000 (first-time borrowers), up to ₱25,000 (repeat borrowers)
• Interest rate: 0% interest rate for new borrowers, 0.5% interest daily for repeat loans
• Loan Term: On an installment basis; pay within one month, one month and 15 days, and or two months

Loan Application Requirements:

• Filipino citizen
• 20- 70 years old
• One valid ID (choose form TIN ID, driver’s license, SSS ID, UMID card, national ID, passport)
• Employed/ with a stable source of income
• Active mobile phone number

MabilisCash Loan Application Process

• Download and install the MabilisCash app available on Google Play and App Store
• MabilisCash will ask permission to access your device’s camera, location, SMS, and notification. Click ‘Next’
• Login using your active mobile number
• Input the OTP sent to your number
• Fill out personal information, including first name, middle name, surname
• Provide at least three contact references. All contact references should be derived from your phone’s contact list. Click ‘Next’
• Provide your working information, including job type, payroll period, next payday, total monthly income, length of employment, loan status, total loans, company location, and detailed address
• Optional details include company name and company phone. Click ‘Next’
• Next, you must select a particular ID type you will use in your application. You must also upload front and back photos of your preferred valid ID. Click ‘Next’
• MabilisCash will evaluate the information, credentials, and ID you provided on the app. In just a few minutes, you will be notified of the credit line offered to you.

Pros and Cons

Pros

• Flexible (installment) loan term
• Low interest
• 1 valid ID is required

Cons

• First-time borrowers receive a low credit limit
• May compromise your personal information online

5. Digido

Last but not least, Digido is also on our list of the best loan apps with fast approval in the Philippines.

What made Digido stand out from its competitors is that you can apply for a loan using its app or directly on its websites.

Digido Finance Corp. runs Digido with SEC Registration Number CS202003056.

If you’re short on cash, you can rely on Digido. To apply for a loan, just download the Digido app on Google Play or the App Store. To create an account, you need a valid and active mobile number. Also, prepare one valid ID, as it will also be required later in the application process.

Unfortunately, one of the few downsides of Digido is that the total fees it charges from borrowers are high compared to other loan apps. You will see the total fees at the close of your loan application.

Digido is the best loan app, especially for first-timers. Why? Because interest rates are waived for new borrowers. However, first-time borrowers usually receive a lower loan offer and a shorter term. But don’t worry; you’ll also receive better offers as you build a reputable credit record.

Digido Loan Details

• Loanable amount: ₱500- ₱1,000 (first- time borrowers), ₱10,500- ₱25,000 (repeat borrowers)
• Interest rate: 0% (first-time borrowers), does not exceed 1.5% per day for repeat loans
• Loan Term: 7 days for the first loan, up to 30 days for repeat loans

Loan Application Requirements:

• Filipino citizen
• 21 years old
• One valid ID
• Active mobile number

Digido Loan Application Process

• Visit Digido’s official website and download the Digido app (you will be redirected to Google Play or App Store). After downloading, install the Digido app
• Hover the quick tutorial pages, click ‘Continue’
• The next screen will ask you how much you want to borrow; first-time borrowers will get a low offer but 0% interest on the first loan
• Enter your active mobile phone number, click ‘Apply Now’
• Click the OTP, click ‘Confirm’
• To provide consent to the ‘Agreement’ clause, click ‘I Agree’
• Specify the ID type that you will use in the application (IDs accepted are driver’s license, passport ID, UMID, SSS, TIN, and PhilSys)
• Take a photo of the ID that you will use in the application. You also need to input the ID number
• Input the following: Full name (as seen on the ID), Birthdate, Gender, and Email
• Indicate your loan purpose
• Provide details on what type of expenses your loan is intended for, click ‘Next Step’
• Your loan application will be evaluated and will be informed after a few minutes whether your loan application is approved or rejected (if approved, the offered credit limit will also be displayed on the app)

Pros and Cons

Pros

• Apply on app or via website
• Easy requirements
• User-friendly app interface

Cons

• Collects higher fees
• May compromise your personal information

Takeaway

Now that you already know the best loan apps with fast approval in the Philippines, you should decide.

But before you apply for an online loan, do your duty. Check the legality of the app, interest rates, requirements, and other pertinent details. If you sense something is unreal and unfair, immediately look for another! Remember that no matter how bad your situation is, never allow yourself to be ‘eaten up’ by opportunistic loan apps!