In this trying time, with COVID-19 making waves after waves of infections, and the world economy going through many ups and downs thanks to lockdowns, not all of us are able to afford the bills anymore. More than ever, loan services in the Philippines are highly sought out, and online loans have become the most efficient solution when you are not able to directly go to banks or financial establishments.
However, don’t you find it strange that online loans have gotten such a bad name among Filipinos, even though they are so convenient and quick? This is due to the fact that many malicious organizations have taken advantage of the rising demands for online loans. Many people got cheated out of their already dwindling wallets, and now they are wary of taking out loans online. Worry not! Because there is a convenient yet trustworthy way that you can search for legit loans in the Philippines – through UpFinance.
Legit loans in the Philippines
First of all, you should know what are legit loans and who are legit loan services that you can safely entrust with your money problems.
Legit loan services in the Philippines must first be registered with the Securities and Exchange Commission (SEC) and the Department of Trade and Industries (DoTI). Once they are acknowledged by both SEC and DoTI, they will always have to comply with Corporation Code, the Lending Company Regulation Act, as well as various other laws that control how loans are given out.
If a loan company doesn’t follow the regulations listed above, violating them in ways such as harassment, cyber liber, violating the Data Privacy Law, or performing unlawful and unfair debt collections, they will be held accountable against the SEC and other government authorities involved in the industry. Therefore, you can be sure that these companies have to be on their best behavior to keep their licenses intact.
Loan companies in the Philippines
To make sure that you can minimize the risks that are often associated with online loans and keep your money safe, you should always look to apply for loans at reputable companies in the Philippines that are registered to the SEC and have a great presence online. They are great alternatives to traditional banks that offer loans that require minimal document packages and no collaterals at all.
Here’s a quick list of the top loan companies in the Philippines:
· Robocash Payday Loans
· Online Loans Pilipinas
· Money Cat
· AEON Credit
· Cashalo Loan Application
· Asialink Finance Corporation
· 24 Pera
· Metro Quicash
· Cash Mart
· Cebuana Loan.
Of course, there are more companies just like these that will keep you safe when applying for a loan. Many of them also offer apps that you can conveniently use on your smartphones! Let’s check those out as well.
Loan apps in the Philippines
Loan apps have gradually become extremely popular among Filipinos in recent years due to increasing needs to maintain pandemic safety measures. More and more Filipinos now choose to apply for a quick online loan just by using their very own smartphones, through a convenient app. In the Appstore, GooglePlay, and other stores, you will be able to find a lot of apps that offer quick online loan services right from the comfort of your home.
The entire application process for a personal loan can now be done through an app. That means you no longer have to worry about traveling to a brick-and-mortar branch to make direct contact with people anymore. This is especially important as the country is in the middle of dealing with the COVID-19 pandemic and everyone is advised to stay home and practice social distancing as much as possible.
Some of the most popular loan apps in the Philippines include:
· GCash App
· Tala App Philippines
· MoneyCat App
· PeraAsia App
· My Home Credit App Philippines
· BPI Mobile
· BDO Digital Banking
· LANDBANK Mobile Banking
· UnionBank Online
With an easy application process and near-instant approval time, you can find a lot of benefits in perusing online lenders. Now it’s time to find the most suitable one(s) for you.
What if I still can’t find a suitable loan in the Philippines? UpFinance is your solution!
UpFinance is a fast and convenient website with a selection of partners who are major loan services in the Philippines. Here, you can conveniently find a service thanks to our team’s constant updating of information such as minimum loan amount, interest rate, and loan term. Using UpFinance, you can find all kinds of loans that suit your needs, even no-collateral loans from banks, cooperatives, insurance companies, and loan companies.
All of UpFinance’s partners are legit loan services (as described above in the article) and are thoroughly selected by the experts in our team to make sure that you can get the safest and most trustworthy loan experience. Wherever you are in the Philippines, UpFinance can always find the right loan for you. And if you need help with making decisions, our team of experts can give you advice. Simply contact us by filling a short form on our website. We will help you select suitable partners who are always ready to issue you a loan based on the data you input into our Calculator.
As you can see, it is important that you find a creditable and legit online loan service in the Philippines. Remember, every legit lending company must register under SEC and the Department of Trade and Industries while paying their taxes in full.
To that end, the UpFinance team always tries our best to make sure that everything we do is in accordance with existing laws. We also always partner up with organizations that can offer reasonable interest with the most favorable conditions. Of course, they are constantly updated on our website for your viewing pleasure.
So, are you looking for lenders? No matter your conditions, we got the perfect loan online in the Philippines for you!
Author Charlotte Elizalde from Upfinance