Loans online in the Philippines

Online loans are for people who like convenience and value their time. If you use electronic banking services and mobile transactions are not a problem for you, then loans online are just for you! 

To get an online loan you must:

• be older than 20 years;
• be a citizen of the Philippines;
• have a valid identification card;
• have an active bank account;
• have an active mobile phone number and email;
• have no overdue obligations.

Why compare online loans on Onlineloans365.ph?

Comparing loans is easy and fast. You can see and compare all the most important loan criteria.

You don't have to go to many websites to find the best loan for you! You can compare the most popular loans in one place - on this website.

All the information you need about lenders is constantly updated.

Comparing loans online is completely free, and you will not only save your money, but you will also save your time.You can see which lender offers the first loan for free and which does not.

You can compare the maximum annual interest rate and see examples of loan costs, so you know what expenses you should expect.

How to get a loan online?

The most important advantage of loans online is the simple application process. To get a loan without leaving your home, you need to take a few simple steps:

1. Look at the offered loans, choose the one you are interested in and click "Get a loan"!

2. Register on the lender's website and fill out the loan application! The following information may be required in the loan application:

• name and surname
• your identifying data
• your address
• mobile phone number and email address

3. To confirm the authenticity of the loan application, an SMS with an authentication code (OTP) will be sent to the contact number you provided, which will be needed at the last step of application form.

4. After completing these steps, wait for a response from the lender. In case of a positive decision, the money will be transferred to your bank account.

How to repay the loan?

You can repay the loan:

• in your customer profile on the lender's website;
• using online banking;
• by using E-wallets;
• at the lender's branch, if the lender offers such an option;
• over the counter or at a bank branch.

Borrow responsibly!

Always compare loan offers before choosing a loan!

Always carefully evaluate whether you really need a loan!

Evaluate your ability to repay the loan - don't borrow more than you can repay back!

Always read the loan agreement before signing it!

Plan your budget and always make your monthly installment repayments on time as specified in your contract! Overdue payments may lead to additional penalty fees.

If you face problems making monthly loan repayments, you must contact the lender to agree on extending the repayment period!

Penalty or renewal policy information

If the loan is not repaid on time, the lender may charge a penalty of the total amount for each day of delay. In the event of late repayment without the agreement of the lender, the lender may unilaterally transfer the debt collection to third party companies.

Annual Percentage Rate (APR)

The annual percentage rate is the total yearly cost of the loan, which is expressed as a percentage. The calculation of the annual percentage rate does not include the costs associated with non-fulfillment of the obligations specified in the loan agreement.

Maximum percentage interest rate (APR): 180%. Loan term: from 62 days to 12 months. Cost example: Loan of 2400 ₱ for 3 months, monthly payment 870 ₱, total amount 2610 ₱, annual percentage rate APR 145%.

Additional Associated Fees

Many or all of the products we offer are from our partners, from whom we may receive commission. This may affect the placement of offers and whether a product is included in the comparison. However, this does not affect our ratings.

In addition to obvious costs like interest and repayments, there may be hidden fees that ultimately make a loan more expensive than it initially appears. These hidden costs are not always obvious and can take many forms.

One of the most common hidden costs is a processing fee. Some lenders charge a fee for reviewing a loan application, which is added to the loan amount and interest. While this practice is criticized and sometimes restricted by law in many countries, it is important to consider this when taking out a loan.

Insurance premiums, especially for residual liability insurance, are another issue often overlooked. These insurances are designed to protect both the borrower and the lender if the borrower is unable to service the loan for reasons such as illness or unemployment. However, the cost of such insurance can be high and may significantly increase the overall loan expenses.

If a borrower wishes to repay a loan early, prepayment penalties may apply. These fees are intended to compensate lenders for lost interest income.

Additionally, a special repayment fee may be charged. While some loan agreements offer the option of special repayments without any additional fees, other lenders may impose a charge.

The overall cost of a loan may also be affected by an adjustment to the interest rate on variable-rate loans. If the base interest rate increases, the cost of the loan will also rise.

Therefore, it is crucial for borrowers to carefully review all aspects of a loan agreement, considering not only the nominal interest rate but also any additional fees and charges, to get a true understanding of the total cost of the loan.

Onlineloans365.ph does not issue loans and is not a lender. Onlineloans365.ph provides consumers with free information on the special terms of a lender's loan agreement and other relevant information. On the website, the peer-to-peer lenders have a special license to provide the consumer credit service.