Quick loans are a way to get a little money quickly to pay an unexpected expense. They tend to have higher interest rates and shorter repayment periods, so they must be used reponsibly. In Credilemon you can compare various lenders in the Philippines to choose the best one for you.
Amount between ₱1,000 and ₱25,000
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Amount between ₱1,000 and ₱50,000
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Tenure up to 12 months
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Amount between ₱1,000 and ₱25,000
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Tenure up to 120 days
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Amount between ₱1,000 and ₱25,000
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Tenure up to 365 days
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Amount between ₱200 and ₱25,000
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Amount between ₱1,000 and ₱25,000
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Amount between ₱500 and ₱25,000
APR from 12%
Tenure up to 120 days
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Amount between ₱500 and ₱25,000
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Amount between ₱500 and ₱25,000
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Amount between ₱1,000 and ₱10,000
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Tenure up to 30 days
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Amount between ₱500 and ₱20,000
APR from 0%
Tenure up to 6 months
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Amount between ₱500 and ₱25,000
APR from 12%
Tenure up to 120 days
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Amount between ₱1,000 and ₱25,000
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Tenure up to 12 months
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Amount between ₱500 and ₱20,000
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Amount between ₱1,000 and ₱25,000
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Tenure up to 180 days
Your ID is the only document you need
Amount between ₱500 and ₱25,000
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Tenure up to 12 months
Up to ₱25,000
Amount between ₱1,000 and ₱25,000
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Amount between ₱1,000 and ₱25,000
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Tenure up to 120 days
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Amount between ₱1,000 and ₱20,000
Tenure up to 183 days
0% interest if you repay on the first payment date
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Amount between ₱1,000 and ₱25,000
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Tenure up to 120 days
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Amount between ₱1,000 and ₱25,000
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Amount between ₱1,000 and ₱50,000
Tenure up to 12 months
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Amount between ₱1,000 and ₱25,000
Tenure up to 180 days
0% interest for new clients for 15 days
Only ID required
Amount between ₱1,000 and ₱20,000
Tenure up to 183 days
Request with only your ID
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Amount between ₱500 and ₱20,000
Tenure up to 365 days
Approval within 15 minutes
Available 24/7
A quick loan is a financing option that lets you access a small amount of money quickly. The interest rate for this type of loan tends to be higher, as they are meant to be repaid just as quickly. Because of this, it is recommended that you only request a quick loan in case of an emergency or unexpected expense, when saving up money to pay it is not an option.
Quick loans have a few benefits that make them attractive:
It can be requested online with minimal documentation
The approval time is short, so you could receive the money that same day
It’s available anywhere you are and often can be requested 24/7
However, there are also some downsides that should be considered:
The interest rate is higher than in regular loans
The payment terms are short, which could make paying back difficult if you’re not careful.
There’s a risk of predatory lending practices, like lending you an amount they know you can’t repay on time so your debt grows.
There’s also a risk of scams and fraud.
Quick loans can be very useful and help get you out of difficult situations. However, it’s important to use them responsibly. Don’t mistake quick loans for free or easy money. When you take out a loan, you acquire an obligation to pay it back.
The first thing to consider is whether a quick loan is the right fit for you. These loans tend to be for small amounts, of up to 25,000 pesos, so if you need more, it might be best to go with a personal loan instead. Also, first think if you can save up to pay for what you need, or if it’s urgent enough that you can’t get the money on time without a quick loan.
If you’ve established that you do need the loan, the next step is determining how much you need and when you can repay it. Ideally, you’d want to request only the strictly necessary amount, and the sooner you can repay it, the better. The amount for the loan depends on what you’ll use it for, but to know how long it’ll take you to repay the debt, you can do the following:
Consider when is your next payday. The further it is, the more time you’ll need to pay.
Take your salary amount and subtract all your fixed expenses (rent, groceries, utilities, etc.). The result is how much you can afford to repay in one month.
Consider if that amount you can repay covers the entirety of the loan and interests. If it doesn’t, you might have to request a loan for a lower amount or see if you could get extra time to repay.
With all of this in mind, you can begin comparing lenders on Credilemon’s website. Fill out the form and we will show you the loan offers that best suit your needs. When comparing, consider the repayment period and the interest rate they charge. Ideally, you’d want the lowest interest rate possible. Also, keep in mind that the sooner you repay the loan, the less interest you’ll have to pay.
In Credilemon we will always strive to only show you legitimate lenders that have your best interest in mind, but we still recommend you check for lender reputation just in case.
Once you choose a lender that suits your needs, it’s important that you:
Read all of the information on the lender’s website before you request it
Read the entire loan contract before you sign it, especially the fine print
Take note of the payment due date and plan your finances to pay it on time