24-hour payday loans in the Philippines

How much money do you need?
Amount
₱ 10 000
min ₱ 1 000
max ₱ 10 000
You will have to return*: ₱ 10 000
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*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
Last updated: March 16, 2023
Written by: Joshua Morales | Reviewed by: Mark Anthony

Key takeaways:

  • A payday loan is a small loan issued by a financial institution over the Internet.
  • The need for a payday loan in the Philippines usually comes due to low wages or in case of an emergency.
  • We recommend a quick short-term loan from Digido for between 7 and 30 days.
  • Always keep repayment deadlines in mind to pay back your debt on time.

An online payday loan is issued by a private lender through the Internet. These are typically unsecured, are short-term, and can be granted quickly. These do not require collateral, but interest rates can be low or high depending on the lender.

Payday loans are supposed to be repaid upon the next payday. Therefore, in most cases, you must have a stable source of income.

These loans are designed for those who need quick funds for any urgencies, such as hospitalizations, home repairs, utilities, food and others. Hence, they are available 24/7 online through apps or websites. However, it cannot be used to cover mortgages, nor be used as capital for starting a business.

When a payday loan is taken out, the expectation from the lender is that it will be paid on the next date when the borrower’s salary is available. The borrower will pay the principal amount plus whatever interest rate was added to the principal amount.

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When are Payday Loans Needed?

People turn to these sources of credit when their salaries are not enough to cover expenses or if their salaries are delayed. Some situations in which quick 24/7 payday loans online can apply include:

– School expenses

– Everyday expenses 

– Rent and utilities 

– Quick travels

– Debt refinancing

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Payday loan requirements

Payday loan companies in the Philippines have different requirements than ordinary lenders or other avenues of credit, but the most common are government-issued IDs, proof of billing, and proof of income such as payslips.
Lenders also reserve the right to request for additional requirements on a case to case basis. For example, a lending app may ask for a borrower or co-maker while another may ask for a collateral like a bank account. There are also instances where a lender will ask for access to a borrower’s contact list and social media accounts.

The latter is especially risky considering the privacy concerns associated with this practice. If a borrower fails to repay a loan, unscrupulous lenders will contact the borrower and their associates in order to force a repayment.

These lenders will not hesitate to use harassing and threatening messages in order to get their money back. Some have gone as far as posting on the borrower’s social media account without consent, adding to the shame and desperation that the borrower is already facing.

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Are payday loans legit?

24-hour payday loans in the Philippines are legitimate and can be availed from legitimate lenders. Answering the need of Filipinos for quick and hassle-free credit, online lending apps offer personal loans that can be disbursed under five minutes with minimal interest rates and flexible payment terms.

In order to avail of legitimate 24/7 payday loans online in the Philippines, you can do a quick Google search on online lending apps that offer this service. There are also lots of credit companies in the Philippines that have their own mobile apps, so be sure to check them out as well.

Compare and contrast amounts, interest rates, terms, requirements, fees and other charges, and others. Comparison sites usually provide a loan calculator which you can use to determine the best amount for you considering your circumstances.

The Cons of a Payday Personal Loan

This service may be easy to acquire and is available almost anywhere 24/7, but just like any other loans, they also have their downsides.

Borrowers have the responsibility to pay their loans on time. This can be a challenge especially for those who are not earning enough, are already neck-deep in debt, or are facing high interest rates and hefty charges.

In addition, it can also be predatory. It is no longer unheard of for predatory lenders in the Philippines to use payday loans to lure in borrowers who are in dire need of cash but have either an unpleasant credit history or have no means to repay in the first place. 

Predatory lending practices include hefty interest rates and other charges, short repayment periods, no contracts, and harassment. Due to these predatory lenders, borrowers often fall into a debt trap, taking on loans over and over again to cover existing debts. In the event that a borrower fails to repay on time, these apps would then contact people on the borrower’s phone or social media account and send threatening messages to force the borrower to repay.

Before borrowing, you must make sure that the company is legal and check its presence in the lists on the www.sec.gov.ph

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Payday Loans in Digido

Digido is an online money lender, established, licensed, and operating legally. Many financial organizations offer unemployment loans, but not every one offers such loyal conditions as Digido. Digido is an automated credit system that issues loans quickly and hassle-free with minimal interests and favorable terms. 

If you need cash immediately for the purchase of equipment, vacation, celebration, surgery or payment of utilities – do not waste time on banks, sign up for a Digido account now!

Advantages of Digido 24 hour Payday Loans

1. Fully Automated

Since Digido issues 24/7 cash loans online, the borrower can expect the money to be there like an instant payday. Borrowers don’t have to fall in line for hours too, the transaction is also more accurate, being that all the financial transactions are calculated on computers which are really overpowered.

2. High Approval Rate

These loans can be disbursed within an hour, which is helpful if you need money urgently. With Digido, potential borrowers can be assured that they will receive their payday credit with ease and with little hassle.

3. Online Application

You just need to prepare an ID and proof of employment. Other requirements include proof of billing, payslips, etc. There’s no way that an employee can still miss any important document.

Borrowers don’t have to go to the bank! Application can be done and completed from the comfort of your own home using your preferred gadget.

4. Open for everybody!

Anyone who has reached the age of majority and is a citizen of the Philippines can apply for a fast and easy online loan 24/7. Your marital status nor your salary will not affect your probability of getting accepted.

Also an undoubted advantage is the ability to cash out funds in the offline point. The borrower receives the 24/7 loan approval of the application on the web-site, and then cashes out a loan in one of our offices. Such points are located throughout the Philippines. The loan is drawn up 24 hours a day and quite simple. You need to choose the amount and maturity of the debt, then fill in a short form with your passport data.

The application is sent for consideration. Within a few minutes, the borrower receives a reply from the company to which the electronic contract is attached. It is necessary to read the points of the contract and confirm the financial deal with a single click of the mouse. Money will be available within 1 hour maximum. On average, the waiting time does not last more than half an hour.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 5000 pesos in your bank account
We don't require guarantors representation, documentation, or guarantee deposits.
The service is fully automated

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Digido Loan Terms

  1. Terms

The terms set by Digido are pretty straight forward: those who are going to borrow for the first time are allowed 15 days to pay back whatever amount is owed. This is just about the same length of time between paychecks. 

For those who will be borrowing for their second time or more, they can take out a loan with a term anywhere between 5 and 30 days.

  1. Amount

Unfortunately, first-time borrowers can’t borrow a large amount; they can only borrow at PHP 1,000.00 maximum. But if the first loan has been paid, the borrower can borrow a higher amount. Succeeding amounts can go as high as PHP 25,000.00 which should be enough for most simple emergency situations.

  1. Borrower Requirements

The requirements necessary for borrowing a payday 24/7 loan from Digido is minimal. All customers are expected to have 1 government valid ID. The following documents may be provided in addition: a copy of their payslips or employee ID or a Certificate of Employment (COE). For the self-employed like those who are running a business, it is necessary to present their Department of Trade and Industry (1) or Bureau of Internal Revenue (2) certificates.

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Digido is a financial system that does not require the provision of supporting documentation, except the passport. The customer will not have to experience:

  1. waste time on standing in queues at banks;
  2. waste time on waiting for an approving result;
  3. need to collect a package of documents;
  4. extra overpayments, commissions and other cash deductions.

Why Choose Digido fully automatic service

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Benefits of 24 hour payday loans fast and easy

1. Fast. An employee who wants to borrow money will only have to provide the necessary information and scans or pictures of the documents. When all the necessary documents are provided, the loan should be available in minutes. The only catch here is that delays can happen when the bank will transfer money to your account.

2. Easy. Gone are the days of queuing at the bank and submitting too much documents. You better make sure that you have all the necessary documents, because if you miss one you may return empty-handed. 

Thankfully, many lenders offer a robust and easy way to obtain a personal loan online  for those days you need them most. In times of crisis, it is always good to know that there is a handy one-stop-shop place on the Internet where credit can be obtained. In a situation when bank details have been entered incorrectly, the loan will not push through but you can always reapply for another. 

A decisive cancellation of credit can be done before the signing of the agreement. The borrower, however, will still have to pay but at least at a smaller interest rate.

3. For Any Purpose. Whatever the reason may be, personal loans are very useful for days when salary is delayed or when it is simply not enough to cover an unexpected situation or emergency. 

But it can go beyond just covering for an emergency. It can also be used for something more festive like a wedding or when trying to buy a new piece of electronic equipment. Since we don’t typically perform major repairs to our houses every month, this is the kind of emergency that a 24 hour payday loan can be used for.

4. Minimum of Documents. The number of required documents for getting a payday loan is, fortunately, minimal. A typical borrower would have some of these documents already such as a government ID. So there is not really that much needed unless the lender will still require some more documents for further verification.

How to Choose a Payday Loan

Determine how much you need and for how long

 Even though the ability to get a loan 24 hours has been made easy through online transactions, it is always a good practice for anyone not to abuse this ability. So before borrowing, it is important to determine how much is really necessary and for how long. It is crucial to remember that the longer the term, the more you have to pay in the long run because of the interest. 

However, this type of credit tends to have a higher interest rate than the usual credit that you can get from a bank. Some online lenders have built-in calculators on their websites that will allow potential borrowers to do the math so before borrowing make sure to use them. Play around with those calculators and experiment until you find the suitable terms for you.

Compare several online lenders

Once you have determined the amount you need to borrow and the amount of time you think you have before paying it back, now comes the next step of comparing different lenders. Payday loans online with no credit check from different providers come in different flavors. Some can offer a low amount and others can be more generous at the cost of a higher interest rate. Read reviews about the online lender. Just like when deciding to buy a product or subscribe to a service, it is important to read and find out what others have to say about a particular bank or financial institution. Never skip this step. A first-hand account from previous customers holds a lot of value when it comes to decision making. Depending on how detailed the reviews are you can pretty much get an idea of how the lender operates.

Check the license of the selected company

Look for a certificate. By certificate we mean something akin to a business license issued by the government or a Department of Trade and Industry (DTI) number. A lot of big-time companies in the Philippines, especially when money is involved, are likely to have their DTI numbers posted on their websites or in their commercials on TV or pretty much anywhere even on Youtube. By having this number, you can be assured that the company is at least legally allowed to operate. If you are still not satisfied you can call the DTI branch at your area to get further verification. For example, the SEC number CS201730459 is listed at the bottom of the Digido web pages. (3)

Read and understand the repayment terms

This is the step where you can’t rush your decisions just to get to that instant payday. Read the repayment terms and make sure you understand them correctly. One piece of advice when reading agreements is to read everything, even those words printed in very small letters. The devil is in the details, as the saying goes. Despite reading positive reviews about the company you chose, who knows if it operates differently now than it used to? If there are certain financial terms you don’t understand, ask a colleague down at accounting or call up the company to get further clarification. Go back to those reviews and ask the people who have borrowed in the past how about their experience. One of the things to look out for are hidden fees: make sure to study everything when it comes to those repayment terms as you won’t be surprised with some unforeseen payments.

Get the money

Once you have read the reviews and the repayment terms, it’s time to get that loan. Gather all the necessary documents, scan them, or take pictures of them so they are ready to upload upon filing. Stick to the amount and term you have decided upon and never allow yourself to be tempted to go beyond the amount and term you decided on earlier.

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For what purposes you can take a 24 hour loans fast and easy

24 hour loans online no credit check at Digido are issued for various consumer purposes:

  1. Medical Emergencies. Health problems always come at the wrong time, and it’s impossible to prepare for them. If you don’t have savings, you can cover medical expenses with a loan for medical treatment. For example, buy expensive medications or pay for a nurse’s care.
  2. Paying Bills. If you’re having temporary difficulties paying your bills, a personal loan can help. You can pay utility bills, Internet bills, and more. The main thing is not to do this every month!
  3. Wedding Expenses. A wedding is one of the most important events in a person’s life! But it is also one of the most expensive. You can borrow for your wedding to pay for the banquet, food, wedding clothes, and honeymoon.
  4. Vacation Expenses. Go on the vacation of your dreams! Choose a beautiful place and relax in a luxury hotel. Some type of credit will allow you to rest properly and start work with fresh energy.
  5. Payment for Education. Not all families can provide their children with a decent education, because it takes a lot of money. There is a way out – an education loan. Your children will thank you!
  6. Home improvements and renovation Finance your quality of life! Make improvements, and renovate your home, because you can use a loan to do so.
  7. Debt consolidation. You can use a personal 24 hour online loan to consolidate your debt. Debt consolidation is one of the most popular credit purposes among Filipinos.
  8. Appliance purchases. Allow yourself the appliances you’ve always dreamed of! You can get a personal loan forthe best refrigerator, air conditioner, or tablet.

Of course, this is only a sample list of the most popular purposes, but in fact it does not matter how you want to spend the money. The robot issues a loan 24 hours a day to different categories of citizens: students, retired, employed and unemployed. The main thing in cooperation with the online system is to pay off the debt in time.

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Digido Reviews

  • Erik
    Digido is very efficient. The approval is quick as long as you accomplish the requirement. I am totally satisfied, thank you Digido for the prompt assistance.
    5
  • Shariffa
    Very nice and friendly Customer Service. I borrowed 2x already and i never had a hard time. Just always remember to pay on time.
    5
  • Janine
    I think this is one of best apps in money lending. The term is longer and they have options. Loan amount is also acceptable. Very helpful for people in need. Keep it up!
    4
  • Ernest
    The app is efficient and user-friendly. It generates results in just a few minutes. Not only the system is laudable, the staff and its workers are polite ,respectful and courteous. They really know how to treat their clients well and find ways how to ease the situation that this pandemic brings. Congratulations to this company! You deserve a five star commendation!
    5
  • Asher
    The best online loan app. Low interest, friendly customer service and fast approval. It was my second time. Hope they will higher my limit amount loan. I'l keep my good record for this platform.
    5
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FAQ

  • How Do Online Cash Loans In The Philippines Work?
    More often than not, you can apply for a quick loan online at the company's website. You will need 1 valid ID. The amount will go to your account or you can get it at the company's offices.
  • Why is a payday loan bad?
    It can be dangerous if the money is not paid back in time. In this case, you will get penalties and a lower credit rating.
  • Who is the best payday loans online?
    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.

Articles sources

Authors

Joshua Morales
Author pages:
Joshua Morales is the head of Customer Care Dept. and Online Sales Dept. of Digido Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Joshua also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.
Mark Anthony
Author pages:
Mark Anthony is, the Finance and Accounting Manager. of Digido Finance Corp., monitoring and controlling the flow of cash that comes in and out of the company to meet the company’s business needs, preparing the financial reports and analysis of income and expenses, and monitoring tax compliance.

Digido Reviews

  • Erik
    Digido is very efficient. The approval is quick as long as you accomplish the requirement. I am totally satisfied, thank you Digido for the prompt assistance.
    5
  • Shariffa
    Very nice and friendly Customer Service. I borrowed 2x already and i never had a hard time. Just always remember to pay on time.
    5
  • Janine
    I think this is one of best apps in money lending. The term is longer and they have options. Loan amount is also acceptable. Very helpful for people in need. Keep it up!
    4
  • Ernest
    The app is efficient and user-friendly. It generates results in just a few minutes. Not only the system is laudable, the staff and its workers are polite ,respectful and courteous. They really know how to treat their clients well and find ways how to ease the situation that this pandemic brings. Congratulations to this company! You deserve a five star commendation!
    5
  • Asher
    The best online loan app. Low interest, friendly customer service and fast approval. It was my second time. Hope they will higher my limit amount loan. I'l keep my good record for this platform.
    5
Submit review
Submite review
Thank you for review!
Rating (4.43/5) 345 voted. Rate us

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