Long-Term Loans Online with Monthly Payments in the Philippines
Looking for a financial solution to cover larger expenses or consolidate debt? Long-term online loans in the Philippines, also known as installment loans, could be a suitable option. These loans offer larger loan amounts and flexible repayment terms, allowing you to spread the cost out over a longer period with manageable monthly payments.
What are Installment Loans
Installment loans are a type of credit that provides you with a lump sum of money upfront, which you then repay in fixed monthly installments over a predetermined period, typically ranging from 12 to 36 months. This allows you to manage your finances strategically and avoid the burden of a large one-time payment.
How Do Installment Loans Work
- Apply: Choose a reputable and SEC-registered lender and submit an online application form.
- Receive Approval: Upon approval, you'll receive the loan amount directly deposited into your bank account or preferred method.
- Make Payments: Start making your fixed monthly payments according to the loan agreement, including both interest and principal.
- Payoff: Continue making your monthly payments on time until your loan is fully repaid.
Benefits of Long-Term Online Loans:
- Larger Loan Amounts: Access funds to cover various needs like debt consolidation, home improvement, or starting a business.
- Flexible Repayment: Manage your finances with predictable monthly payments that fit your budget.
- Improved Credit Score: On-time repayments can positively impact your credit score.
- Convenient Online Process: Apply and manage your loan online, saving you time and effort.
Important Considerations:
- Shop and Compare: Research and compare interest rates, loan terms, and fees from different lenders before applying.
- Borrow Responsibly: Only borrow what you can comfortably afford to repay within the loan term.
- Read the Fine Print: Carefully review the loan agreement to understand all terms, conditions, and potential penalties.
- Stay Informed: Stay informed about your loan balance and upcoming payments to avoid late payment fees.
Top 7 Online Loans with Monthly Payments
Money Cat
MoneyCat - Cash loan online with fast approval in Philippines
Instant cash loans MoneyCat. First loan for FREE!
- Amount from PHP 500 to 20,000
- Term from 3 to 6 months
- Interest rates 11.9% per month
- Maximum APR 145%
- Loans in 5 minutes
- You don’t need to confirm income, bring references, visit our office
Interest Rates | APR 145% |
Maximum Loan Amount | ₱500 — ₱20,000 |
Borrower Age | 22+ years |
Loan Terms | from 3 to 6 months |
Digido
Digido - Loans online, fast and reliable
Get your first loan with 0% interest rate for 7 days!
- Amount for the first loan from PHP 1,000 to 10,000
- Up to PHP 25,000 for up to 180 days for repeated loans
- Terms 2, 3, 4, 5, or 6 months
- Loan can be closed in 1 day
- Maximum interest rate 59.9% per year
Interest Rates | APR 59.9% |
Maximum Loan Amount | ₱1,000 — ₱25,000 |
Borrower Age | 21 — 70 years |
Loan Terms | from 2 to 6 months |
Finbro
Finbro - Online lending platform to get a loan quickly
0% interest for the first loan from PHP 10,000
- Amount from PHP 1,000 to 50,000
- Amount for new clients up to PHP 15,000
- Terms up to 12 months
Interest Rates | from 0% |
Maximum Loan Amount | ₱1,000 — ₱50,000 |
Borrower Age | 20 — 70 years |
Loan Terms | up to 12 months |
OLP - Online Loans Pilipinas
Online Loans Pilipinas - 0% interest, instant approval
0% interest if you pay back on the first payment date
- Amount from PHP 1,000 to 20,000
- Amount for first-time applicants up to PHP 7,000
- First payment in 10 days
- Loan period 61 days - 183 days
- Maximal Annual percentage rate (APR) including all commissions is 143% per year
Interest Rates | APR 143% per year |
Maximum Loan Amount | ₱1,000 — ₱20,000 |
Borrower Age | 22 — 70 years |
Loan Terms | from 61 to 183 days |
Madal iLoan
MadaliLoan
Get cash as faster as 15 minutess:
- Amount from 3,000 up to 20,000 PHP
- Term from 91 to 180 days
- Interest rate 0.08% per day
Interest Rates | 0.08% per day |
Maximum Loan Amount | ₱3,000 — ₱20,000 |
Borrower Age | 18+ years |
Loan Terms | from 91 to 180 days |
Crawfort
Crawfort - Accessing the Right Kind of Finance for All
Crawfort - Licensed digital lender in Philippines:
- Loan amount from 3.000 to 50.000 PHP
- Interest rate 0.3% per day
- Term from 60 to 120 days
Interest Rates | 0.3% per day |
Maximum Loan Amount | ₱3,000 — ₱50,000 |
Borrower Age | 18+ years |
Loan Terms | from 60 to 120 days |
Fast Cash
Fast Cash - Cash loan mobile App
Fast Cash is a first-class Cash Loan platform in Philippines which can be fully operated via mobile App.
- Term from 91 to 120 days
- Loan Amount from 2,000 to 12,000 PHP
- Interest Rate 0,05% per day
- Approval Duration 2 hour
Interest Rates | 0,05% per day |
Maximum Loan Amount | ₱2,000 — ₱12,000 |
Borrower Age | 18+ years |
Loan Terms | from 91 to 120 days |
Legit online loans with monthly payments Philippines
Advantages:
- Convenience: Online loans can be applied for and processed from the comfort of your own home, saving you time and effort.
- Quick approval: Many online lenders offer fast approval times, allowing you to get the money you need quickly.
- Flexible repayment terms: Monthly payments make it easier to manage your budget and pay back your loan on time.
- Wide range of lenders: With many online lenders to choose from, you can find a loan that fits your needs and budget.
Disadvantages:
- Higher interest rates: Online loans may have higher interest rates compared to traditional loans due to the convenience and quick approval process.
- Risk of scams: Be cautious when applying for online loans and make sure to research the lender thoroughly to avoid falling victim to scams.
- Limited loan amounts: Some online lenders may have limits on how much you can borrow.
Tips:
- Compare lenders: Do your research and compare different lenders to find the best loan option for you.
- Read the fine print: Make sure to read all the terms and conditions of the loan before accepting it.
- Budget accordingly: Make sure to budget for the monthly payments to avoid defaulting on the loan.
Frequently Asked Questions:
- What are the requirements for applying for an online loan in the Philippines?
Answer: Requirements may vary depending on the lender, but typically include proof of income, identification documents, and a bank account.
- How long does it take to get approved for an online loan?
Answer: Approval times can vary depending on the lender, but many offer fast approval times ranging from a few hours to a few days.
- Can I pay off my online loan early?
Answer: Many online lenders allow early repayment without penalty, but it is important to check with your specific lender.