Personal loan no requirements
Lenders in the Philippines provide various types of loans to borrowers who need immediate financial assistance. One of the most popular types of loan in the Philippines is the Loan no requirements Philippines. The demand for this lending option is due to the absence of serious requirements to the borrower. To receive such a service, it is sufficient to provide a package of obligatory documents and confirm the availability of a source of stable income
A loan no requirements Philippines is available to all Filipinos aged 18 to 65 years. To receive borrowed money, you must submit an online application, as well as select the optimal term and amount of the loan. Depending on the conditions of a financial institution, a potential borrower can borrow from 10 thousand to 2 million Philippine pesos. Financial organizations of this country are ready to issue such amounts for a period of 1 to 3 years.
Calculate loan amount online
The advantages of Loan no requirements Philippines
One of the main advantages of the loan Philippines no requirements is the simplicity of processing the application and the high probability of its approval. According to statistics, a loan no requirements Philippines is approved in 80% of cases.
The advantage of this financial service is also considered lower interest rates than credit cards. Another plus is the possibility of obtaining a loan by citizens of the Philippines who do not have a credit history. Moreover, many Philippine microfinance institutions are willing to lend to customers with a bad credit history. Each case is considered individually.
A personal loan without confirmation in the Philippines also does not require an indication of the purpose of the loan. Potential borrowers can draw up a loan to finance treatment, study, travel abroad, debt consolidation, investment, etc.
Customers of such companies can use the personal loan Philippines no requirements service:
This organization lends to employees and individual entrepreneurs in the amount of 10 thousand to 1 million Philippine pesos. The average annual interest rate is 26%.
Bank of the Philippine Islands offers a loan without confirmation in the amount of 20 thousand to 1 million Philippine pesos. The size of the loan rate is 25% per annum.
EastWest Bank is one of the most popular banks in the Philippines. This institution is ready to issue a loan of up to 2 million pesos. At the same time, EW Bank is known for the highest interest rates. Credit card holders of this organization pay 41% per annum. The clients of EW Bank, who have not issued a credit card of the bank, pay from 46 to 53% per annum.
The minimum loan amount in this bank is 50 thousand Philippine pesos. The monthly interest rate in Maybank is 1.3%.
Security Bank credits its customers in the amount of 30 thousand Philippine pesos. The minimum interest rate in the Security Bank for loan no requirements is 29%.
What is necessary for online loan no requirements
Depending on the conditions of the creditor company, to get a loan it is necessary:
- be a citizen of the Philippines between the ages of 18 and 65 years;
- have a source of stable income covering the amount of monthly payment;
- confirm the presence of a permanent place of work within the last 6 months.
How to get an approval?
In order to rely on the approval of the loan, the borrower must collect the complete set of documents, provide real information about himself and have a good credit history.
Written by Mikka Montero | Modified date: February 13, 2020