Did you know that dozens of online lenders in the Philippines offer various loan products with varying interest rates and terms? The Philippines has a vibrant small business and personal loans industry, one of the country’s economic drivers. What’s exciting about online lending is that it simplifies the process of applying for loans, thus democratizing access to these services.

Top Online Loan Offers in the Philippines

Loan up to ₱25000

Get your money in 5 minutes

₱1000-₱25000 90 - 180 days

Loan up to ₱ 25 000

New clients get a 100% commission discount

From ₱ 1000 to ₱ 25 000 3 to 60 Months

Get an online loan

in just 5 minutes

From ₱1,000 to ₱25,000 From 2 to 4 Months

Loans up to 20000 PHP

1% for first loan

₱1000-₱20000 7 - 30 days

Loan up to ₱30000

Flexible finances

₱1000 to ₱30000 10 - 300 days

Loan up to ₱50000

First loan with 100% OFF

₱1000 - ₱50000 30 - 360 days

Online lending allows clients to apply and get approved for a loan without a physical visit to offices with minimal waiting. These online lenders are best for borrowers and small business owners looking for a stress-free way to borrow. Individuals can choose from different loan products, such as a personal loan, an unsecured loan and secured loan, and a payday loan. Loan applications are generally convenient and fast, and the actual processing times for loan approval depend on several factors, including your credit history, bank account, eligibility, and documentary requirements.

This guide guides you to the process and helps you compare the top 10 online lenders in the Philippines in 2022.

How to Choose Online Lending Companies in the Philippines

How to Choose Online Lending Companies in the Philippines

Consider several factors when choosing an online lender to borrow cash. First, you need to check if the company is legitimate or not. In the Philippines, reputable online lenders must be registered by the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC). While online lenders offer virtual services, it’s best to work with online lending companies with physical offices in the Philippines. With this, you can track the process and loan status in case of problems. 

In addition, some online lenders require an unusual upfront fee for loan processing. So, it would be best if you were cautious in evaluating the background of companies to avoid fraud. Do not be misled by unrealistic offers of online loan providers; instead, carefully assess them.

Top 10 Online Lenders

Borrowing money can be the easiest solution to your financial struggles. Online lending companies offer a variety of loan products without requiring collateral from the borrower. However, choosing an online loan from different providers can be overwhelming. Included in this guide are some of the best online lending companies, and we compare them using several factors. In addition, we list and rate lenders in terms of processing times, loan product offers loan repayment terms, building good credit, and debt consolidation.

Top 10 Online Lenders

Home Credit PH

This online lending platform offers multiple types of loan products to consumers. Today, the company operates as a global consumer finance provider with an extensive network of branches. It currently provides quick cash online personal loans, credit cards, and product loans. Interest rates may vary based on the loan terms, but it offers lower rates than other lending companies. On the other hand, a longer repayment term means higher accumulated interest rates.

The best aspect of this online lending is the presence of its physical stores. In case problems arise, customers can go directly to their store. The maximum limit you can avail of for product and cash loans is Php 150,000. To apply for a Home Credit PH loan, you need two (2) valid identification cards wherein one should be government-issued. Moreover, you can avail of the loan if you are a Filipino citizen and employed or self-employed.

TALA Philippines

Individuals can sign up for loan product offerings from this leading online lending provider through its mobile app. It allows customers to borrow money ranging from Php 1,000.00 pesos and above. To apply, you must download the app via Google Play Store and upload a valid identification as supporting documents. TALA interest rates start at 11% if the loan amount is paid in 21 days. However, if loan repayment takes 30 days, the company imposes a 15% interest fee.

Considering its interest rates, it is higher than loans offered by banks. But its quick processing time compared to banks makes it ideal for borrowers facing financial struggles. You get your loan approved and disbursed within 24 hours max. Another downside of this loan app is that it requires you to link your social media accounts. It may put borrowers at risk of internet fraud. Furthermore, Tala currently does not offer debt consolidation. 


This online lending app popular in the Philippines offers a personal loan service through its mobile app. The loan app is highly compatible with iOS and Android devices. Cashalo provides cash loans, Lazada loans, and Buy Now Pay Later. Compared to other online lenders, Cashalo offers competitive interest rates of 4.95%. Loan approval may take 1-2 business days, depending on your submitted supporting documents. The maximum loan amount you can avail of with Cashalo is Php 10,000.00 pesos.

To apply for a Cashalo loan, download the mobile app and register an account. You will need to upload photos of your government-issued ID, company ID, and bank details. Meanwhile, Cashalo has extensive services as it links with the Shoppee platform. If you repaid the loan via Shoppee, you could enjoy direct discounts and cashback up to 100%. Another best thing about Cashalo is its unlimited cash referral rewards.

online lenders


Cashwagon is a Fintech company providing online consumer financial services in the Philippines. With Cashwagon, you can get an instant cash loan in just a few clicks with minimal requirements. Approval of online loans takes 24 hours. The cash loan amount ranges from PHP 7,000.00 to PHP 20,000.00 with a max tenure of one month. After successful loan repayment, the next loan is subject to approval. For first-time borrowers, you can enjoy a 0% interest rate within ten days. However, Cashwagon does not offer debt consolidation to borrowers with bad credit.

Furthermore, for late payments, Cashwagon charges penalties on default. One notable feature of Cashwagon is its low-income requirement. In this case, more borrowers will be eligible to borrow without worrying about their income. To qualify for a Cashwagon loan, you must have a minimum monthly income of Php 6,000.00.

CashMart PH

This online lending provider is based in Singapore and has extended its services to the Philippines. CashMart offers quick cash loans for your immediate financial needs. Current loan offers from CashMart PH include salary, online personal, car, and OFW loans. For example, personal loans boast a 3.5% interest rate depending on your loan terms. You can repay your CashMart loan weekly, bi-weekly, or monthly. The loan amount ranges from PHP 5,000.00 to PHP 50,000.00 and is available within 24 hours.

CashMart is one of the leading platforms offering high loan limits to borrowers. Since it grants a higher loan amount, it requires more documents before your loan is approved. The loan application requires proof of billings, the latest one-month payslip, and a government-issued ID. After that, it only takes a few steps to get your cash. Fill up the online form, wait for verification, sign the contract, and wait for cash disbursement to your chosen channel.


Robocash is a licensed online lender having several branches in the Philippines. This online lending platform processes a personal loan through its fully automated system without advance charges. Borrowers are required to upload documents only upon the first loan. For the succeeding online loans of repeat customers, they no longer need to upload documents. The loan proceeds will go directly to the borrower’s bank account for more convenience for customers without going to a physical office. The company offers a cash loan of up to PHP 25,000.00. You get approved in just a few minutes.

Due to the smaller loanable amount, no additional documents besides the usual requirements are required. In terms of interest, online loans incur 11.9% every month, which is higher than other loan providers. Robocash features a loan calculator wherein you can check the interest rates and charges for your cash loan.  

lenders in the Philippines

RFC Loan

Radiowealth Finance Company, commonly known as RFC, is one of the leading online lending platforms in the Philippines. It focuses on providing Filipinos with access to financial services and the best online personal loans. Its multiple loan product packages include small and medium enterprise (SME) business loans, multipurpose loans, and financing loans. The company grants a maximum loan amount of up to PHP 3,000,000.00. Due to its high loanable amount, it requires several documents before loan approval.

Once eligible, approval duration and interest rates may vary depending on the loan amount and repayment terms. You will need government-issued IDs, a three-month payslip, and proof of billing to apply for a loan. The company also requires a certificate of employment and your residential, business, and employment address. For business owners, RFC requires either a barangay or a DTI business permit.  

Loan Ranger PH

Loan Ranger boasts its instant cash loan offers without any hidden charges. Online loans incur a 9.75% interest rate. Considering your credit history, you can receive the credit decision within the day. Loanable amount ranges from PHP 3,000.00 up to PHP 10,000.00. One of the best things about this provider is the loan approval opportunity given to clients with bad consumer credit scores. It is also supported by a downloadable mobile app adding more convenience to the loan application process.

Your loanable amount is increased every after repayment of the loan. To qualify for a Loan Ranger cash loan, you will need a government-issued ID, valid e-mail address, proof of residency, and a credit card. It also requires links to your social media account like Facebook. As long as you have a stable source of income, you can qualify for a loan with Loan Ranger PH. 

online loans


This online lender is fully licensed by the SEC and has a physical office in Makati City. The company strives to provide a hassle-free service to new and existing borrowers through its online lending platform. Asteria offers clients personal loans and salary loans. The car loan and business loan, currently in the development stage, will also be offered. Personal loans incur a 0.8% interest fee per day. You can choose from repayment terms of 61 days, ten weeks, or three months. It features a loan calculator allowing you to check the interest rate, total repayment amount, and installment amount.

First-time borrowers get a maximum of PHP 10,000.00. Loan approval may take one business day. The application process starts with registering an account with Asteria and confirming enrollment using your valid e-mail. Then, you need to upload supporting documents before the loan can be approved and disbursed.

AEON Credit Service

The company offers personal loans, furniture loans, and appliance loans. You can check product offerings by visiting its official website. It provides clients with affordable installment products that fit their needs and preferences. AEON also offers VIP deals to its repeat customers through perks and promotions. The company has introduced a downloadable mobile app so clients can easily track their loan and repayment status. In addition, AEON features debt consolidation loans allowing borrowers to clear up debts through reduced interest rates. Repayment terms with AEON range from 6 months to 60 months, depending on your chosen loan product.

Just like other lending companies, it also features a loan calculator. In addition, it provides transparency in terms of the monthly flat rate, installment terms, monthly repayments, and the repayment schedule. Meanwhile, AEON has partnered with trusted payment channels such as LBC, Cebuana Lhuillier, and online payment like GCash and PayMaya for more convenient loan repayment.

Maintain a Good Credit History to Be Eligible

Maintain a Good Credit History to Be Eligible

Whatever loan you avail with any online lender, repayment on or before the due date is a must. Paying personal loans on or before the due date contributes to an increased credit score. Since all transactions are online, the companies rely on a good credit score to grant personal loans to eligible borrowers. Online companies often check credit card debt status based on credit investigation. A higher credit score is yours if there is no record of late payments.

With a good credit history, online lending companies can grant you a higher loan amount. In addition, you can request debt consolidation by calling the customer support service. Failure to comply with loan repayment can lead to bad credit loans. Overall, online lenders offer higher interest rates. But they certainly reduce the waiting period experienced when applying for a loan in banks.