PHILIPPINES PERSONAL LOANS AVAILABLE FROM BANKS

Aside from the government-issued multi-purpose loans, commercial banks are also legitimate providers of personal loans. Most banks in the country offer these loans to qualified Filipinos and foreign residents in the Philippines. Typically, they process personal loan applications in as fast as one week.

Here is a quick look at the personal loans issued by different banks in the Philippines:

AUB CasHelp

• Loan amount: Php 30,000 to Php 250,000
• Loan term: Maximum of 36 months
• Interest rate: Subject to bank’s approval

BDO Personal Loan

• Loan amount: Php 10,000 to Php 1 million
• Loan term: 6, 12, 18, 24, or 36 months
• Monthly interest rate: 1.30% (for a 6-month term) or 1.25% (for all other terms)
• Effective interest rate: 25.98% to 26.76%

BPI Personal Loan

• Loan amount: Php 20,000 to Php 1 million
• Loan term: 12, 18, 24, 30, or 36 months
• Monthly interest rate: 1.20%
• Effective interest rate: 25.03% to 25.74%

China Bank Savings Easi-Funds Personal Loan

• Loan amount: Php 20,000 to Php 1 million
• Loan term: 12, 18, 24, 36, or 48 months
• Monthly interest rate: 1.55% to 1.95%
• Effective interest rate: 32.73% to 37.24%

EastWest Personal Loan

• Loan amount: Php 25,000 to Php 2 million
• Loan term: 12, 18, 24, or 36 months
• Monthly interest rate: 1.49% to 1.89%
• Effective interest rate: 41.67% to 53.21%

Maybank enable Personal Loan

• Loan amount: Php 50,000 to Php 1 million
• Loan term: 12, 18, 24, or 36 months
• Monthly interest rate: 1.30%

PBCOM Personal Loan

• Loan amount: Php 40,000 to Php 1 million
• Loan term: 12, 18, 24, 36, or 48 months
• Monthly interest rate: 1.332% to 1.96%
• Effective interest rate: 28.40% or 37.40%

PSBank Flexi Personal Loan with Prime Rebate

• Loan amount: Php 20,000 to Php 250,000
• Loan term: 24 or 36 months
• Monthly interest rate: 1.75% (fixed term) or 2.5% (revolving credit line)

RCBC MyCash Loan

• Loan amount: Php 50,000 to Php 1 million
• Loan term: 6 to 36 months
• Interest rate: Subject to bank’s approval

Robinsons Bank Personal Loan

• Loan amount: Php 5,000 to Php 250,000
• Loan term: 6, 9, 12, 18, 24 or 36 months
• Interest rate: Subject to bank’s approval

Security Bank Personal Loan

• Loan amount: Php 30,000 to Php 1 million
• Loan term: 12, 18, 24, or 36 months
• Monthly interest rate: 1.39% to 1.69%
• Effective interest rate: Starts at 29.48%

Sterling Bank of Asia Personal Loan

• Loan amount: Php 50,000 to Php 1 million
• Loan term: Maximum of 36 months
• Interest rate: Subject to bank’s approval

UCPB SalarEasy Loan

• Loan amount: Php 50,000 to Php 300,000
• Loan term: 6, 12, 18, 24, or 36 months
• Interest rate: Subject to bank’s approval

Now that you have a better idea of the various personal loans in the Philippines, you can decide better which ones would make the cut. Weigh the benefits and drawbacks of your top choices to determine the best personal loan that can help you meet your short-term cash needs.