Online Lending in the Philippines: Get Your Money on Card or in Cash!

Last Updated: 01/19/2020
Lender Feature
Interest Rate
Max Loan Amount
MoneyCat - Best Offers From the APEC Loans
Flexible Conditions
for 2,5% per day
₱ 1000 - 20000
from 14 to 28 days
Online Loans Pilipinas - Best Offers From the APEC Loans
100% Online Process!
for 1% per day
₱ 1000 - 20000
from 7 to 30 days

Online lending has become quite popular in the Philippines with the development of the Internet itself. People trust online companies much more these days, that’s why the finance industry is moving online as well.

It’s very convenient, after all. You don’t have to go outside and look for a reliable money lending institution. You don’t have to gather a million documents and wait in long queues at the bank. There’s also no need to be nervous for several days waiting for the reply and potential approval.

Everything is right there, on your fingertips. Anyone can go and find a company lending online in the Philippines, provide a bit of verified information and get their money. Given the website is reliable, of course.

Hendrith Smith once wrote: “A healthy Banking system is one of the vital parts of a nation’s foundation.”

For our time, “healthy” may as well mean “modern”. And for that, we need Internet loaning.

We at the APEC Loans service will help you see what a trusted cash lending looks like, what companies are the best, and much more!

Perks Online Lending in the Philippines Will Give You: Cash Lending at Its Best

There’s a reason online lending has become so popular. As a matter of fact, there are a lot:

  • Fast approval. When trying to borrow money at a bank, you have to wait for a long time until they check all your documents, history, etc. It’s quite unnerving and makes the process too long. What if you need the cash fast? Lending money online will sometimes take only one hour as they don’t need to check a pile of documents and they have more processing possibilities.
  • Fewer documents. To get some of the documents banks need, you usually have to go to other institutions and apply for them. There’s a whole package and it’s difficult to gather. But when you’re lending money in the Philippines online, there’s no such problem. Oftentimes all they need are your bank account information and your ID.
  • No collateral. When lending from a bank, you often need to indicate collateral in your agreement. But with online cash lending in the Philippines, there’s no risk of losing your assets. The companies don’t require collateral or a cosigner – a person who has to pay your loan back in case you can’t.
  • Convenient terms. Some may say the rates and terms of cash lending online are more strict. However, if you choose a reliable company and pay everything back on time, you’ll find the terms very convenient. Just make sure you read all the legal information about the rates and penalties before using a company of interest.
  • Convenience in usage. All the processing goes through the Internet, so you don’t have to find the physical office of the company to find out about the terms of online money lending and apply. There are no interviews, all the information is provided digitally, from the comfort of your home or office.
  • No worries about the credit score. Banks are pretty meticulous when it comes to credit score and history. When lending online, rest assured your rating won’t mean that much. There may be a difference in the interest rates for those with a lower score but only with some companies.

So, in comparison to bank loans, online lending in the Philippines is a much more suitable option for most people. There are fewer requirements and more possibilities. However, you have to be able to pay back right on time since the penalties are considerable.

Most Notable Online Lending Companies in the Philippines

The hardship of choosing a trusted cash lending option in the Philippines is that there are so many of them. All offer fair rates and terms, but some percentage of them are unreliable scammers who are just after your money.

With regard to that, we at APEC Loans created a list of trustworthy companies specializing in cash lending in the Philippines.

Cashwagon: Lending Online Made Convenient

Cashwagon is another online lender that has flexible offers and is convenient to work with. They need a little bit more information from you. But their terms and conditions of work are totally worth it.

Online lending in the Philippines from Cashwagon

Interest Rate: for 0% per day
Max Loan Amount: up to ₱ 20000
Tenure: from 7 to 180 days


Some of the things to know:

  1. You have to be 20-60 years old to apply for a loan;
  2. The largest available loan is 20,000 PHP;
  3. The maximum time to wait for the money is one business day, but it’s usually much faster;
  4. You can pay back in 10 to 180 days.

Online Loans Pilipinas: Simple Money Online

Online Loans Pilipinas is a company that has proven its authority in lending money online over the years.

Money lending in the Philippines from Online Loans Pilipinas

Interest Rate: for 1% per day
Max Loan Amount: ₱ 2000 – 20000
Tenure: from 7 to 30 days


This is an easy-to-use service and here’s what you have to know about it:

  1. First-time clients can apply for an up to 7,000 PHP loan;
  2. If you’re lending for the second time, the number rises to 20,000 PHP;
  3. The age range of eligibility to apply is 22 to 60 years old;
  4. You’ll need to prove you’re an employed individual;
  5. The loan will be on your bank account in 1-2 business days.

MoneyCat: Popular Online Money Lending

MoneyCat is a safe and convenient online company specialized in money lending in the Philippines. The more times you lend from them, the more benefits and financial opportunities you get.

MoneyCat - Lending online

Interest Rate: for 2,5% per day
Max Loan Amount: ₱ 1000 – 20000
Tenure: from 14 to 28 days


Here are some of the facts you should know before applying for a loan there:

  1. The eligible age for lending is 22-60 years old;
  2. 4,000 PHP loans are available for first-time clients;
  3. 20,000 PHP is the largest amount of money you can lend;
  4. You have to be the Philippines citizen if you want to apply;
  5. In 24 hours, you’ll get an approval and the money;
  6. The loan is transferred in 30 minutes after the approval.

Atome: Beneficial Lending in the Philippines

Atome is also on the list of the best online companies specializing in lending in the Philippines.

Cash lending in the Philippines from Atome

Interest Rate: 0,14% – 0,9% per day
Max Loan Amount: up to ₱ 10000
Tenure: from 91 to 120 days


Here are the basics to know about them:

  1. You have to be 18 to 55 years old to be eligible to apply for a loan;
  2. You must be the Philippines resident;
  3. The maximum loan they offer is 10,000 PHP;
  4. Their interest rate is 0,14% to 0,9% a day;
  5. You can pay them back in 91 to 120 days;
  6. The approval decision should reach you in 24-48 hours since the application.

FAQ on Lending Money in the Philippines

Is it legal to borrow money online?
Yes, if you find a trustworthy company specializing in online lending in the Philippines. Those need to be registered under the department of Trade and Industry (DTI) and Security and Exchange Commission (SEC), have a physical office and contacts you can trace them by. This is one of the things you should absolutely check when you find a website with suitable offers and rates.

Why online lenders offer better terms than banks?

Remember a quote by Mark Twain: “A banker is a fellow who lends you his umbrella when the sun is shining but wants it back the minute it begins to rain.”

Nothing has changed since the XIX century.

Yes, it may be better for some people to lend from a bank, usually if they want a huge long-term loan. However, there is a reason private companies came into being with other offers and rates. It means people needed that option and they requested it.

What documentation do I need to apply?
The packages vary, but you will absolutely need:

  • 1 or 2 IDs;
  • Bank account registered under your name;
  • Proof of employment (certificate or ITR);
  • Proof of your income amount (payslips or bank statements);
  • Utility bill to prove you live by the address you’ve stated (you may need several for several months).

To make sure you have everything the company needs, contact their customer support. Also, be very careful when reading about the documentation and the usage of your data. Your information has to remain confidential.

What makes me eligible to apply for a loan online in the Philippines?

There are different requirements, but they all are in a similar range:

  • You have to be a resident of the Philippines. Oftentimes, being in the country at the moment is also crucial;
  • You must have the same home address for at least a year;
  • You have to be employed or self-employed. Some companies also allow certain professionals to apply;
  • Sometimes you have to be employed by one business for at least a year to be eligible;
  • Your salary must be at least 6,000 PHP or more;
  • You must have an email address to create an account on the website;
  • You need a working bank account for a loan.

How can I pay back to the online lender of my choice?

You’ll find all the necessary information on lending money in the Philippines on the website of the company. However, here are some of the most common ways to repay:

  • Via Dragon Pay available at 7-11;
  • As a bank transfer (the company will provide you with their bank information);
  • At the company’s office with the help of their expert.

A lot of lenders have other options to offer. Some have mobile applications where you can access all the needed information and transfer the money from your card to the app.

What is the interest rate I’ll have to pay along with the loan?
Online lenders offer slightly higher interest rates than banks. This can be explained by the risks they have to take to provide you with the needed money fast.

Every company has its own rate, which is another reason why you should consider researching different options before applying for a loan at any company. The average interest rate is 35% per year. It’s quite a lot, but people don’t usually apply for such long-term loans online.

Tips on Lending Money Online

Let us share some of the wise tips everyone should consider before lending money, no matter whether you do it at a bank or choose lending online:

  • Take time to research the market and find a reliable company;
  • Be sure to provide all the documentation and data a trusted lender needs;
  • Don’t hesitate to contact the customer support of the said lender if you have questions;
  • Always read all the pages of the chosen website to be sure you know all the details of your cooperation;
  • Do your best to pay back on time, not earlier and not later. A lot of online companies specializing in money lending in the Philippines can help you improve your credit score but only if you pay on time.

These will make sure you choose the right option. Life sometimes throws unexpected events in our lives. A lot of them are challenging financially, so it’s totally understandable why someone would need a bit of help.

APEC Loans wants to make sure you choose the right lender and will be able to get out of whatever situation you’ve found yourself in.