Home » Articles » Quick Cash Loans Without Collateral in the Philippines 2024

Quick Cash Loan Without Collateral: The Benefits of Unsecured Loans

Last updated: April 11, 2024
Written by: Digido Financial Writers Team | Reviewed by: Anna Kireeva

Key takeaways:

  • In the Philippines traditional bank loans usually require collateral or a guarantor
  • There are companies that allow you to get a non collateral loan for small amounts
  • The demand for personal loan without collateral is rising due to its convenience and minimal requirements
  • No collateral loans reduce the risk for borrowers as they don’t risk losing any assets
  • Digido requires no collateral and provides quick loans on favorable terms up to PHP25,000
How much money do you need?
10 000
min ₱ 1 000
max ₱ 10 000
You will have to return*: 10 000
All your data is under secure protection!
*Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval
Who can get a Digido loan?
You are 21-70 years old
You are a Filipino citizen
You have a valid government ID

When urgently needing money, many turn to banks for fair loan terms. However, if you need a small pre-salary amount without collateral, banks might not be the best option. In the Philippines, there are lending companies offering non-collateral loans, which are gaining popularity. No collateral loans, also known as unsecured loans, are financial offerings that don’t require any assets as a guarantee.

Let’s explore where and under what conditions one can secure a no-collateral loan in the Philippines, and identify the eligible candidates for it.

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  • Get your first loan with 0% interest rate
  • Receive up to PHP 25,000 in 4 minutes
  • No collateral or guarantee deposits

What is a Personal loan without Сollateral?

When faced with financial challenges, many Filipinos turn to non collateral loan as a solution, also known as unsecured loans. Unlike secured loans, which require collateral like a house or car, unsecured loans are based solely on the borrower’s creditworthiness.

Unsecured loans are financial instruments that don’t necessitate assets such as a car or house as collateral. While some can amount to as much as ₱1 million with repayment periods ranging from one to three years, there are also payday loans  under this category, which typically have much shorter repayment durations.

What types of non Collateral loans are Available?

Non collateral loans come in various forms, each designed to meet specific financial needs:

  • Personal Loans: These are general-purpose loans that borrowers can use for any legitimate purpose, such as consolidating debt, funding vacations, or covering unexpected expenses.
  • Credit Cards: Credit cards stand out as a predominant form of unsecured loans available to consumers. When applying for a credit card, lenders primarily assess an individual’s credit score and household income to gauge their capability to manage monthly repayments. Unlike their secured counterparts, which often necessitate a cash deposit during the application phase, unsecured credit cards typically offer more favorable interest rates.
  • Student Loans: These are loans designed to help students pay for post-secondary education and associated fees, such as tuition, books, and living expenses.
  • Payday Loans: Short-term, high-interest loans meant to be repaid by the borrower’s next payday. They are typically used for emergency expenses.

 no collateral loans

Features of the No Сollateral loan: Comparing Secured and Unsecured Loans

Secured Loans 

Unsecured Loans 

Require collateral (e.g., car, house)

No collateral required

Typically have lower interest rates

Generally have higher interest rates due to increased risk

Loan amount is often determined by the value of collateral

Loan amount is based on creditworthiness and income

Defaulting may result in loss of the collateral

Defaulting affects credit score but no asset loss

Suitable for larger loan amounts

Ideal for smaller, short-term financial needs

Approval process might be longer due to asset evaluation

Quicker approval process as no asset valuation is needed

Often available to those with a lower credit score

Good credit score is typically essential for approval

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Where to Get a Quick cash loan without Collateral?

There are many financial institutions that are willing to provide you with a quick loan.They can be banks, pawnshops or online loan companies. However, banks most often take a few days to review your application, so a bank loan cannot be called a quick one.

In order to get a loan from a pawnshop, you need a collateral, a valuable property that serves as a guarantee of repayment. The easiest and most convenient way to get a quick loan without collateral in the Philippines is online loan companies.

Digido is rapidly gaining popularity in the Philippines thanks to the loyal requirements and the simplicity of use. This lending company Philippines without collateral does not require collateral and provides fast loans on favorable terms.

personal loan without collateral philippines

Benefits of Digido Non-Collateral loans

✅ Easy and Favorable Conditions
No guarantors or collateral required. Your credit history isn’t a barrier.
The processing time averages between 10-30 minutes, ensuring swift results.

✅ Minimal Documentation
Only a single government-issued document is needed [1], simplifying the application process.

✅ Convenient Online Application
Apply from the comfort of your home, avoiding the hassle of physical visits.
The streamlined loan process enables borrowers to receive funds directly to their card, e-wallet, or remittance center (available for repeat borrowers).

✅ Low Interest rate

The interest rate depends on the amount you want to borrow and the loan duration. No other charges will be applied if you pay in time. For first-time borrowers, no interest is charged on the loan – you can borrow up to 10.00 with 0% interst rate.

✅ Legality

Digido is a fully legal company, it has SEC Registration No.: 202003056, and Certificate of Authority No. 1272. This ensures that all their lending practices are above board and compliant with local regulations.

Need money that you can get quickly? Apply for a loan without collateral with just 1 government valid ID and enjoy a 90% approval with Digido! Calculate your loan cost and click ‘Apply Now’ to get started!

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

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Fast Loan in 15 Minutes

How can I Get a No Collateral loan in the Philippines?

At Digido, obtaining a no-collateral loan is made accessible and straightforward. Those eligible to apply include individuals aged between 21 to 70 years, employed professionals, and Filipino residents. The entire process is conducted online, ensuring convenience and efficiency. 

You only need one government-issued ID to apply – that’s it!

Thus, each filipino can take a quick cash loan without collateral right at the workplace, at home, at a lecture or in a car – in any place where there is access to the network.

non collateral loan philippines

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How can I get a non-collateral loan in the Philippines?

Digido issues non collateral loan Philippines ranging from 1,000 to 25,000 PHP. First borrowers can borrow up to a maximum of 10,000 PHP. When you re-apply the credit limit is increased, but only on condition of timely repayment of the first debt.

Waiting for a decision on the request of credit funds will be up to 10 minutes. During this time Digido will check all the claimed data, consider the credit history. A quick cash loan without collateral can be obtained even by a client with credit history errors. The percentage of approved applications reaches 90%.

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4 Easy Steps to Get a Loan without Collateral in 30 minutes 👇

No-Collateral Loans: Benefits and Drawbacks

✅ Pros of No-Collateral Loans

  • Asset Safety: Without collateral, there’s no risk of losing personal items or property if repayment becomes challenging.
  • Speedy Fund Access: The absence of asset evaluations means these loans often get approved more swiftly, making them handy for urgent needs.
  • Zero Initial Payments: You can secure these loans without any upfront fees or down payments, easing the initial financial burden.
  • Flexible Borrowing Limits: These loans are great for those who need specific amounts without the temptation of over-borrowing.

❌ Cons of No-Collateral Loans:

  • Tougher Approval Criteria: Lenders scrutinize creditworthiness more closely, making it challenging for some to get approved.
  • Elevated Interest Charges: The lender’s risk is higher, so expect steeper interest rates.
  • Capped Borrowing: The amounts available for borrowing might be limited, especially if your credit score isn’t stellar.
  • Brief Repayment Windows: Repayment periods can be shorter, which might strain some borrowers’ finances.

Evaluating Unsecured Loan Applications: What Lenders Look For

When lenders evaluate an unsecured loan application, they typically consider several key factors to determine the applicant’s creditworthiness and ability to repay the loan. Here’s what they usually check:

1. Credit History Lenders review the applicant’s past borrowing and repayment behaviors. This includes any late payments, defaults, or bankruptcies.

2. Credit Score – A numerical representation of an individual’s creditworthiness, the credit score is a crucial factor. A higher score indicates a lower risk for the lender.

3. Income and Employment – Lenders want to ensure that the borrower has a stable source of income to meet the monthly repayments. This might involve checking pay stubs, employment history, or even contacting the employer.

4. Debt-to-Income Ratio – This ratio compares the total monthly debts of an applicant to their monthly income. A lower ratio indicates that the borrower has a good balance between debt and income.

5. Purpose of the Loan – Some lenders might want to know the reason for borrowing, especially if it’s a significant amount. This helps them gauge the borrower’s financial responsibility.

6. Residential Status – Whether the applicant is renting, owns a home, or lives with family can influence the decision. Homeowners might be seen as more stable.

7. Personal Details – Age, marital status, and number of dependents can also play a role in the decision-making process.

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Options for Securing No-Collateral Loans 

A no-collateral loan can be obtained from various financial institutions and platforms, each offering distinct terms and benefits. The table shows some of the financial institutions you can apply for an unsecured loan by visiting their websites.


Max Loan Amount (PHP)

Interest Rate

Metrobank Personal Loan



UnionBank Personal Loan



BPI Personal Loan



Radiowealth Finance Corp. Loan



Maybank Personal Loan



Tonik Flex Loan



CIMB Personal Loan



SB Finance Personal Loan



DIGIDO Philippines



Tala Quick Cash Loan


0.5% daily

BlendPH Loans



Asteria Lending, Inc. Loans

20,000 (returning)

0.9% daily

Note: The information presented in the tables is subject to change and borrowers are advised to contact their chosen financial entity directly for the updated information

non collateral loan

Advices before issuing a personal loan without collateral in the Philippines

Here are seven pieces of advice to consider before obtaining a no-collateral loan in the Philippines:

👉 Research the Lender: Before committing, ensure the lender is reputable and licensed by the appropriate financial authorities in the Philippines. Check for reviews and testimonials from previous borrowers.

👉 Understand the Terms: Thoroughly read the loan agreement, focusing on interest rates, fees, and repayment terms. Ensure there are no hidden charges or clauses that might be unfavorable.

👉 Assess Your Repayment Capacity: Before borrowing, evaluate your financial situation. Ensure that you can comfortably repay the loan within the stipulated period without straining your finances.

👉 Avoid Multiple Loans: Taking out multiple loans simultaneously can lead to a debt spiral. It’s advisable to clear existing debts before applying for a new one.

👉 Use the Loan for its Intended Purpose: It’s essential to use the borrowed money for its specific purpose, be it medical emergencies, education, or other pressing needs. Avoid using it for non-essential expenses.

👉 Know Your Rights: Familiarize yourself with borrower rights in the Philippines. This knowledge will empower you in case of any disputes or misunderstandings with the lender.

👉 Plan for Repayment: Set aside a portion of your income or savings specifically for loan repayment. Consider setting up automatic deductions or reminders to ensure timely payments and avoid penalties

Answer the following 4 questions before taking a cash loan non-collateral:

  1. Do you understand the principle  of interest calculation?
  2. Do you know the total amount to be paid?
  3. Do you realize that you are responsible for non-repayment of debt?
  4. Do you have extra sources of funds in case of impossibility to repay the debt?

The answers to these questions are needed to understand the seriousness of the procedure. Many borrowers are careless about the registration of loans through the Internet, thinking that if the organization is not a bank, then it is not necessary to return the money. This is not true! The Digido credit policy is fully in line with Philippine law. The borrower who has not returned the debt will be fined. [2]

Final thoughts

No-collateral loans offer a convenient solution for those in immediate financial need, eliminating the stress of asset pledges. It’s essential to approach them with a clear understanding of terms and a solid repayment plan.
Digido offers a straightforward and secure platform, making the process simpler for Filipinos. Their transparent terms and quick approvals make them a go-to choice. So if you’re considering where to borrow money without collateral, Digido is worth a look.

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Disclaimer: This article was written based on information available to the writer at the time of publication and the article was published for promotional, reference, and educational purposes only. Nothing in the articles published in the website is intended to constitute legal or financial advice and users are advised to seek counsel from legal and financial professionals.

Likewise, rates or offers published in the websites are promotional marketing offers only and do not constitute any binding contract between the Corporation and the website users.While the writers and publishers of the articles in the website wrote the articles using credible information available to them at the time of publication, any changes or updates to the information presented in this article may not be reflected here.

Hence, users are enjoined to exercise appropriate diligence in using the data and information published in the website, and they are urged to study and compare it with other credible sources. Users understand that the writers, publisher, website owner and the Corporation are not liable for any damage or injury they sustained for their wrongful or erroneous use of the data or information written in the article and published in the website.

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  • Where can I borrow money without collateral in the Philippines?
    You can choose any credit company with a state license. We recommend Digido. Here you can take a non collateral loan up to 25,000 pesos.
  • What is a non collateral loan called?
    It is an unsecured loan. This is a loan that doesn't require any type of collateral. Instead, lenders approve unsecured loans based on a borrower's credit rating.
  • What is the easiest loan to get approved for?
    The easiest way to get a loan for a small amount of up to 10,000 pesos and a short term of up to 15 days, such as in Digido. Also, additional documents and a high credit rating will increase your chances of getting one.
  • What should I do if I can't return my debt?
    Borrowers who have got into difficult financial situation are offered to prolong the contract and change its terms. To change the terms of the contract, you need to call the Digido hotline and explain your situation. We appreciate conscientious clients who want to return debts, but do not know how. Such borrowers are offered a way out of the difficult situation, depending on the complexity of the problem.
  • What if you don't have collateral for a loan?
    This is not a problem for Digido. Digido issues cash loans Philippines no collateral and no credit check of the borrower. The main thing is to provide all the necessary documents. All you need to have with you: valid ID, mobile phone and Philippine citizenship, also the age from 21 to 70 years. Only 1 valid government document will be required, but you may additionally provide other documents such as payslip, COE, ITR, company ID, DTI.
  • How to get money in Digido?
    Most often, clients receive a loan without collateral in the Philippines on a bank account. If you don't have a bank account, it's not a problem. Digido can issue money in cash. To do this, follow the procedure described above. If the client has not specified the bank details, he is offered to issue a personal loan Philippines no collateral. A unique number comes to the mail of the borrower - you need to remember it or write it down, then go to the offline point of issuing funds. A credit is attached to this number. Digido already have over 60 offices where you can get cash or draw up a loan. Now some of them are closed due to the pandemic, but with each passing day more and more offices of Digido resume their work. You will definitely find office nearby.
Disclaimer and Editor’s note


Digido Financial Writers Team is a team of experts in the field of finance and credit, specializing in writing articles for Digido blogs.
Anna Kireeva
Author pages:
Anna is a marketing communications professional who specializes in digital marketing strategies and long-form content.

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