CASH LOAN PROVIDERS COMPARISON CHART
If you like plan to borrow from leading banks, please be guided with the following rates and fees:
|Provider||Rates and Loan Rates|
PHP 1,500 – processing fee to be deducted from the loan amount
10% per month – late payment fees on all amount due or a minimum of PHP 300
PHP 500 – Loan amendment fee
Minimum loan amount – PHP 30,000
Maximum loan amount – PHP 1,000,000
Approval time – 5-7 banking days
Payment terms – up to 36 months
Additional rate per month for employed borrowers – 1.1%
Additional rate per month for self-employed borrowers – 1.3%
Apart from banks, you can also get a loan from private lenders. Just prepare all your documents (e.g., proof of income, valid IDs, credit status, latest payslips) prior to application to ensure fast processing. It’s also important to think about the following considerations:
- Cash receipt flexibility – Make sure to opt for lenders that will allow you to access the money in different ways.
- Payment options – Get a loan from a lender who offers different ways for you to pay so that you can avoid late payments as much as possible
- Lender terms and conditions – Look into the fine print of your agreement, especially those concerning the additional charges for late fees.
- Your credit record – Maintain a good credit status at all times to establish your credibility as a borrower.
THE LOANSOLUTIONS PH DIFFERENCE
Loansolutions PH is a loan solutions provider, offering customers with insights about loan, as well as access to a vast number of lenders in the country. Specifically, we can provide you with:
- informative guides to raise the financial awareness of borrowers, empowering them to make informed decisions
- access and contact to a huge network of loan providers here in the Philippines to ensure you’ll get the best loan to satisfy your needs
- an easy 3-Step Online Application process to ditch the hassles that usually goes with getting a loan
- a Loan Status Check online tool to keep you updated on your application status
Visit our site and get in touch with us as regularly as you can for updates and tips about loans and other personal financial management matters.