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How to Get Legit Online Loan in Philippines

How to Get Legit Online Loan Updated on January 2024

Have you ever faced a money problem unexpectedly?

Did your mom get sick out of the blue and need hospital confinement?

Does your utility bill hike up when you’re least prepared?

Do your kids have an additional school expense? 

Are you working extra hours just to finance your dream vacation?

It is a heavy burden to think about how and where to get more funds, especially when you least expect it. Often, you might think of borrowing money from your trusted friends and relatives. However, if you fail to meet your financial obligation to them, you might lose them. Plus, we all face struggles on our own. 

It is very stressful. We know. You have nowhere to go just to cover your financial dilemma.

Fortunately, financial services designed online loans in the Philippines. Now, Filipinos can borrow money from banks, licensed moneylenders, and other legit financing companies. As a result, you don’t have to worry about straining your relationships with your loved ones.

Moreover, an online loan from a legit lending company will guarantee a better credit history. So save yourself from stress by taking out an online cash loan from a reputable lending service in the Philippines.

But before anything else, let us explain what an online loan is.

Table of Content

How Online Loans Work
Why Filipinos Use Online Loans
How to Apply for a Personal Loan Online
What are the Requirements You Have to Prepare
How to Get a Fast Online Loans Approval
How to Tell if a Lender Offers a Legit Online Loan in Philippines
What is Credit Score and How Does it Affect Your Loan Approval
Frequently Asked Questions on Online Loans

  • How to Pay My Online Loans?
  • How Online Lenders Verify My Information?
  • Is My Personal Information Safe If I Apply in an Online Lending App?
  • Can Legit Online Loan Guarantee Approval?
  • How to Cancel My Loan Application?
  • How Much Can I Get from an Online Personal Loan?
  • Do I Need collateral to Get Approved?


How Online Loans Work

Online lending is close to the traditional money lending industry. Both aim to approve personal loans to qualified borrowers like you. However, your application process starts at home instead of going directly to the lender’s office. Therefore, a stable internet connection is necessary.

how online loan works

Online cash loans are the best for any of your unforeseen expenses. It involves most of your communication online. Send in your application through the lending company’s official website. Then, you will receive your loan application status from the money lending company. 

Afterward, your money will be sent directly to your bank account if approved. That’s why it makes the loan process quick, less tiring, and has no complications. However, you need to be cautious with online loans.

Not all fast cash loans guaranteed approval. And sadly, loan sharks do exist. So take preventive measures.

Why Filipinos Use Online Loans

You might not notice it, but Filipinos take out a loan occasionally. Some bring home a relatively higher amount for a home loan or car loan. Others get approved for a lower amount for debt payment or when an emergency throws off their budget. Whichever reason it might be, Filipinos see how beneficial and convenient online loans bring to their lives.

Why Filipinos Use Online Loans

Getting Denied Personal Loans in Banks

Banks and lenders have a standard. You must complete the requirements. Also, they check your capability to repay through credit checks.

Sadly, not all Filipinos have it. But with online lenders, you have a better chance of bringing home your online loan cash.

Bank Account is Unnecessary

When you apply for personal loans from banks, you must have a deposit account with them. It is convenient if your existing bank account is with them. If not, you need to process it first before you can apply. 

But with online cash loans, it is irrelevant. You can still take out an online loan. However, you need a nominated bank account. Why? Lenders disburse loan proceeds through this or partner remittance centers.

Online Loan is an Unsecured Loan

Most Pinoys think that applying for loans needs collateral. You have to put your personal possession in the hands of the lender to borrow money. It is true, but it depends on the loan product you borrow. 

With legit online loans, there is no need to risk any of your property and valuables. You can still get approved, whichever kind of loan you applied for. 

24/7 Online Application

Before, Filipinos must queue outside the money lending office. You must take a half day from work or, worse if you need a day off to process your loan application. Now, you can apply anytime, anywhere. Visit the lender’s official website or a legit mobile app to start the loan process. 

Lenders are available any time of the day with the online service it offers. That’s why an online loan is an excellent choice as an emergency loan in the Philippines.

Minimum Eligibility and Loan Requirements

There are time borrowing money comes with a long list of paperwork. Sadly, it will take you a day or two to complete all the documents needed. As a result, you delay the loan cash you urgently need. 

Taking out online loans is not as tedious as conventional personal loans. Online lenders ask Filipino borrowers of legal age with valid government-issued IDs. Others need your Certificate of Employment, Proof of Billing, and more. Nevertheless, every requirement needed is relatively easy to find.

Fast and Easy Loan Application Process

Since it is an online cash loan, it is considered a loan on the go. You can apply with your computer, laptop, smartphone, or iPad. The requirements are not easy to prepare. 

Plus, there is no need to visit the nearest lender’s branch. You can accomplish each step wherever you may be. 

However, you must remember to secure your internet connectivity. It helps you avoid interruptions. Without it, all your efforts will go to waste. 

Quick Online Loan Approval

The 24 hours online application process is fast and hassle-free approval. But of course, it is only possible if you can complete all that is needed. With these easy-to-acquire requirements, you can finish it within one day. As a result, you will receive your instant cash in less than two days.

Nevertheless, don’t forget that fast approval comes with your effort too. How can the online lender approve your application if you can’t provide what is asked? 

Flexible Repayment Scheme

Strict and limited payment plans existed before. As a result, you have to choose between paying your loan for a long time with an interest rate, or you pay it in a big chunk over a shorter period. Often, it adds to the borrower’s dilemma. 

Today, a majority of online loans offer flexible repayment plans. For example, depending on your preference, you can choose your repayment on a weekly, bi-weekly, or monthly. 

With this, you can settle your financial obligations conveniently. But, most importantly, you can pay it off on time.

Build a Healthy Credit Score

Taking out a loan from banks requires good credit standing. But what if it is your first time applying? Don’t worry. Approval with online loans is highly possible. 

Aside from your quick cash loan, you can start building your credit history. That’s why it is best always to pay your dues on time. This way, you’ll be on the right track.

It’s no surprise why many Pinoys switch to borrowing money through online personal loans. The perks are innumerable. But still, you need to research before applying for legit online loans in the Philippines.

How to Apply for a Personal Loan Online

Every step is hassle-free if you borrow money from online loan providers. Begin your application process with your gadget and internet connectivity. We created a guide for you if you still feel lost on what to do. 

How to Apply for a Personal Loan Online

Step 1. Visit the legit online loan website.

In some cases, online lenders have a mobile app. First, check if you are on the legitimate page or loan app. Once you’re sure, download their loan app and register.

Step 2. Complete the online loan application form.

In your application form, enter all the needed personal details. Also, submit the requirements needed. Don’t forget to specify the loan product you wish to apply. Lastly, confirm with the loan agreement indicated.

Step 3. Stay open and be patient

Make sure to always be available with the contact number you provided. Expect a call from the loan representative for verification. Their decision depends on whether to give you loan approval or denial.

Step 4. Wait and receive your quick cash disbursement.

If the loan executive thinks you are a qualified borrower, you will receive your quick loan cash without stepping out your doorstep.

That’s it! Your application for an online loan is successful. You must search for a trusted app to avoid getting scammed. Don’t neglect your financial obligation to repay your loan.

What are the Requirements You Have to Prepare

Taking out a loan from online lenders is quick and convenient, especially if you come prepared. 

What are the Requirements You Have to Prepare

Proof of Income

Employment is a must. You can either be employed or self-employed. It is highly preferred that you spend at least one year working with your current employer.

Others even require at least a minimum of Php 6,000 monthly income. But some don’t. What matters is that you have the means to repay your cash loan.

Employed applicants need at least one:

  • Latest 1 month’s payslip
  • Certificate of Employment
  • BIR Form 2316 (W2)

Self-employed applicants need:

  • SEC Business Registration
  • DTI Business Registration

Proof of Billings

Eligible borrowers for online loans must be current Philippine residents. If you are a foreigner, some lenders will require you to have at least one year of residency. Take note that it must be at your current address. Present any utility bills with your name and address to prove it. 

Government IDs

Identity is always the key. It helps lenders prove if you’re a fraud or not. Online lending often requires two government-issued valid IDs. You must provide any from the list below.

  • Armed Forces of the Philippines (AFP) ID
  • Barangay ID (Upload Front and Back View)
  • Bureau of Fire Protection ID
  • Driver’s License (can be Student Permit with official receipt)
  • Government Service Insurance System (GSIS) e-Card
  • National Bureau of Investigation (NBI) Clearance
  • National Integrated Bar of the Philippines ID
  • OFW ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • Passport
  • Philhealth ID
  • Philippine National Police (PNP) ID
  • Police Clearance Certificate or Police Clearance Card
  • Postal ID (old postal IDs with a front and back photo)
  • Professional Regulation Commission (PRC) ID
  • Social Security System (SSS) ID (visible birthdate on the ID)
  • Unified Multi-Purpose ID (UMID)
  • Voter’s ID
  • National ID

Active Bank Account

Active bank accounts and email addresses are must-haves. Your bank account receives the cash disbursed. Make sure you have online access to it so you can check it immediately. Meanwhile, your email address gets the repayment instructions. 

Take time to read it so you won’t miss your due date and incur penalties. Also, be mindful that some banks charge disbursement fees. Clarify if the lending corp has an extra charge disbursing your quick cash on your current bank account.

Other Documents You Might Need

The list above is the basic requirements. It is crucial that you have it on hand for fast loan approval. However, some online loans from banks require more requirements. 

Some ask for your Proof of TIN, while others tell you to be a Principal credit card holder. Meanwhile, other moneylenders require another set of documents. Often, this is necessary for other online loan products.

Above all the requirements listed above, you still need your active phone number. This way, your trusted online loan lender can notify you of the loan progress. As you can see, the requirements are easy to prepare.

How to Get a Fast Online Loans Approval

Online loans are well-known for quick approval. However, it depends on something other than your loan provider, which is your effort. So here are quick tips to ensure you’ll get your fast cash disbursed in no time.


Shop around the online lending company.

Today, various online loan facilities and mobile apps are available. Each has its perks and drawbacks. Visit their webpage and compare the loans offered, interest rates, and repayment plans.

While you’re there, browse customer reviews, too. This way, you can apply for an online loan suitable to your needs.

Complete the set of requirements.

Nothing beats being one step ahead. As you shop around, inquire about the requirements needed too. Take note of it so you can prepare it beforehand. 

Once you finally decide which will be your online lender, you have all the documents ready to submit. Keep in mind that incomplete requirements are the primary reason why loan approval gets delayed.

Take a reasonable loanable amount.

When you think about borrowing money, consider your income and expenses. Ensure you can repay the loan you wish to borrow on time. 

Lenders see if you can take another financial obligation. Instead of winding you up with uncontrollable debt, they’d prefer if you pay it off. 

So calculate first. Or else you will most likely get denied. It often happens if the loan amount is beyond your capacity to pay.

How to Tell if a Lender Offers a Legit Online Loan in Philippines

Identifying a registered lender in the Philippines is easier. SEC provided criteria for online lenders. Check the list below and see if your chosen money lender is legit.

How to Tell if a Lender Offers a Legit Online Loan in Philippines

Included in the List of Recorded Online Lending Platforms

Taking out an online loan is unlike picking a needle in a haystack. You can easily pinpoint if a loan provider is legit or fraudulent. 

Visit the SEC website and check if the online lender belongs to the official list. If yes, proceed with your loan application process. If not, it is most likely an illegal lender.

Understand the Loan Terms and Conditions

The legal online lending company has loan terms and conditions. It clearly states everything that comes with your online loan cash. These are your interest rates, default changes for late payments, and repayment terms. It is a must that you read and understand it. 

In addition, call reputable lenders for any queries you have. Legitimate lenders answer your questions straight to the point. On the other hand, illegal lenders sound suspicious.

Read on Customer Reviews

Applying for an online loan is like online shopping. You must read the previous customer reviews and reflect on this matter. You can read feedback warning you of a shady online lender. Meanwhile, some comments encourage you with your online loan application.

Also, pay attention to how a review is written. A fake review usually comes with poor grammar. Often, it contrasts with the majority of other customers’ opinions.

Assess the Website Quality

Appearance is the real deal with online moneylending. Reputable moneylenders know the essence of a professional quality website. It can make or break an online loan transaction. 

Always be observant. Notice if there are low-quality images and unclickable links. Poor spelling and grammar are significant factors too. If the website redirects you to a dubious website, think twice before applying.

Odd Repayment Practices

All legit online money lenders in the Philippines abide by strict SEC regulations. It is about the loan amount, interest rates, and repayment plans. A lending company asking for an unusual payment schedule is a big no-no. 

Also, it is a red flag if it asks you to pay from other payment channels posted on their website. Often, illegal loan providers demand payment ahead. Or they ask you to send it directly through PayPal or similar services. 

Although some online loan providers use this payment option, it is very rare. Most legit lenders accept payments through bank transfers.

With this in mind, you now have a clue about how to determine whether you’re dealing with a scam or not. Remember, you need instant loan cash for a reason. So do your best to steer away from them. 

What is Credit Score and How Does it Affect Your Loan Approval

A credit score is like a grade moneylenders use to identify if you’re a high-risk borrower. It shows your past credit behavior, including your payment history. They also review the loan amounts you owe, the length of your credit history, and account types.

What is Credit Score and How Does it Affect Your Loan Approval

Your credit score helps banks and moneylenders determine your ability to repay on time. You will likely have problems applying for a new loan or credit card if you have a low credit score. But if you have a high credit score, you can enjoy faster loan approval and a higher credit limit.

Frequently Asked Questions on Online Loans

How to Pay My Online Loans?

Online money lending companies email instructions on how to repay the cash loan. Read it carefully and understand how it works. Also, take note of the reference number so that your payment will not be invalid. 

Most importantly, pay only at the partner payment channels of your online lending company. We listed your possible options. 

  • 7/11 Convenience Store
  • AUB Online / Cash Payment
  • Banco De Oro ATM / Internet Banking
  • BPI Cash Payment / Online Banking
  • Cebuana Lhuillier Bills Payment
  • Chinabank Cash Payment / Online Bills Payment
  • EastWest Online / Cash Payment
  • ECPay (Pawnshops, Payment Centers)
  • GCash / Gcash Bills Pay
  • Landbank ATM Online / Cash Payment
  • M. Lhuillier
  • Maybank Online Banking
  • Metrobank Cash Payment / Online Banking
  • Palawan Pawnshop
  • PayMaya Bills Pay
  • PNB Cash Payment / Internet Banking Bills Payment
  • PSBank Online
  • RCBC ATM / Cash Payment / Online Banking
  • RobinsonBank Cash Payment / Online Bills Payment
  • Security Bank Cash Payment / Online Bills Payment
  • SM Dept/Supermarket/Savemore Counter
  • UCPB ATM/Cash Payment / Connect / Mobile
  • Unionbank Online Banking / Online Payment / Over the Counter

How Online Lenders Verify My Information?

Loan executives verify a borrower’s eligibility during the interview. You must be honest when you receive a call from the lender’s representative. They counter-check the documents you send based on your answers. Any misinformation leads to a delay in your online loan approval.

Is My Personal Information Safe If I Apply in an Online Lending App?

Yes. The National Privacy Commission (NPC) barred online lenders from gathering borrowers’ personal details. In addition, under Circular No. 20-01, lenders must not access your phone and social media contact list. It is safe to say that applying for an online loan is not dangerous. 

Can Legit Online Loan Guarantee Approval?

No. An online lending company cannot guarantee loan approval upfront. You provide the documents for a higher chance of approval. 

Not only that. Your requirements must be correct. This way, the lender can decide whether to grant your application.

How to Cancel my Loan Application?

Are you having second thoughts? No worries. Canceling your online loan application even after you click Submit is alright. 

But first, contact the online lender immediately. Confirm that you’re discontinuing your application. Also, explain the reason for the sudden change of decision.

How Much Can I Get from Online Personal Loan?

There is no specific loanable amount you can borrow. The loan product you apply for and your annual salary. However, some online loan lenders approve a loan amount for as low as Php 5,000. Meanwhile, others let you take out as high as Php 50,000.

Do I Need collateral to Get Approved?

No. Your online loan is under the category of unsecured loans. It means there is no need to put your property or valuables at risk. You can borrow money even if you have no surety to present. But it is a must that you prove your capability to repay. 


A legit online loan in the Philippines is an excellent financial solution to your unexpected money dilemma. It has an easy loan application and a quick approval process. But you choose an online lender with the lowest rate and favorable terms.

Check Cash Mart today! It is one of the famous online lenders from Singapore that offers various loan products like personal loans, car loans, salary loans, and OFW loans.