Fast Personal Loan in the Philippines

How much money do you need?
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 24, 2023
Written by: Joshua Morales | Reviewed by: Mark Anthony

Key takeaways:

  • Fast loans are needed to help those who urgently need money to pay in an emergency.
  • Loans are divided into secured and unsecured.
  • Secured loans are more advantageous, but unsecured loans are easier to get.
  • Digido provides some of the best unsecured loans in the Philippines

A fast personal loan is a special kind of loan intended to help those who are in a bind and need a quick source of cash to pay off an emergency. The process of obtaining the said loan can take only a few minutes. In the Philippines, such loans are very common and many people turn to them. Most often they are people who urgently need money, but the bank has refused them a loan.

So what kinds of emergencies are fast loans usually great for? Fast money loans can be used for any of the following:

  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, a medical loan can cover your hospital bills. For example, buy expensive medicines.
  2. Paying Bills. If you’re having temporary difficulties paying your bills, an online personal loan Philippines can help. You can pay Meralco bills, Internet bills, and more.
  3. Wedding Expenses in the Philippines. A wedding is one of the most important events in a person’s life! But it is also one of the most expensive. (1) You can have your dream prenup photoshoot, clothes, wedding reception and even your honeymoon with a wedding loan.
  4. Vacation Expenses. Make your dream vacation come true! Choose a beautiful place and relax in a luxury hotel. A vacation loan will allow you to relax 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 renovation. Make improvements, and renovate your home, because you can use a loan to do so.
  7. Appliance purchases. Allow yourself the appliances you’ve always dreamed of! You can get a phone loan or a TV loan, buy the best refrigerator, air conditioner, or tablet. Upgrade your gadgets and devices!

When you realize that you don’t have the money to repay the loan. In this case, you need to take the amount here, which you can exactly repay on time.

How do I get a loan from Digido?

One of the companies that give fast loans in the Philippines is Digido. Let’s talk about it and find out why people choose this company.

Digido Loan Requirements

You can get up to 25,000 pesos. You need to register on the site and create an account. Once you have created your account, you will be able to access an online section where you can download a valid ID and contact phone number. You can then choose the amount you intend to borrow. The loan period varies from 7 to 30 days. Remember that the first time you borrow, you can only borrow up to 10,000 pesos for up to 7 days. But for the first loan you will not be charged any interest, and you will return exactly as much as you borrowed.

Requirements for Digido Borrower

Almost everyone in the Philippines can get a loan from Digido. To do it, you have to fulfil some simple requirements.

You can get a loan if:

  • You are Filipino citizen
  • You are Resident of the Philippines
  • You are between between 21 – 70 years old
  • You have an active mobile phone number
  • You have registered on the Digido website
  • You have a steady income
  • You are officially employed or have Freelancers / call center employees status
  • You have a valid government ID

Why do people choose Digido?

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What is a good percentage for a personal loan?

Most borrowers in the Philippines take interest rates into account when applying for a loan. The interest rate is important for 50% of Filipino borrowers. A good interest rate for a personal loan is this rate, which is lower than most competitors. Compare all offers and choose the best one. Please note that Digido offers a loan for new clients with 0% rate. This is a very advantageous offer!

Who Can Get а Fast Personal Loan

Despite the availability of personal loans with fast approval in the Philippines, there are still certain requirements needed to obtain a quick online loan. The beauty of these requirements is that the borrower may already possess 1 or a few of these and are thus ready to be presented when applying for a personal loan in the Philippines with no requirements.

  •  Company ID – If the borrower is already employed, there’s a huge chance he or she already has a company-issued ID. The reason for needing this is that personal loan lenders in the Philippines also need to assess if the borrower is capable of paying the loan back.
  • Government-issued ID – This ID is given whether the borrower works in government or not or whether the person is employed or not, chances are the borrower already possesses some kind of ID under this category. Examples of IDs: Voter’s ID, TIN ID, Postal, Passport, Driver’s ID, and others. When used for applying for a loan, at least 2 IDs may be required along with another document.
  • Payment Slip – Going back again to employed borrowers, payment slip are automatically given when salaries are given out either in physical paper or email so these can be used also to prove a person’s employment history.
  • Proof of Billing – Statement of accounts or receipts when paying for utilities are useful so never throw them away. When applying for a loan these are going to be asked for.

So far, the requirements above are typically asked from people who are employed but what about for business owners? Here is a list of what may be asked from business owners if they want to apply for a loan.

  • Business Permit / DTI Registration – Business owners are expected to have these documents along with others like sanitation and fire permits so these also come as a given.
  • Income Tax Reform – When paying taxes, these forms are filled up and copies should be kept safe in a cabinet somewhere at all times.
  • Financial Statement – These are important documents that detail the daily activities of the business and how money is spent. This is typically reviewed by government agencies, accountants, firms, and others. On the part of a money lender service like Digido, this can be used to assess if the borrower can pay back any amount loaned.

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Benefits of Quick Personal Loans

  • Minimum Documents Needed

Usually you only need 1 document to get a quick loan. It is a Government-issued ID. These IDs are universal and almost every citizen has some form of ID. There are many kinds of IDs under this category so at least this part is already covered for most Filipinos. But if you provide an additional document, you are more likely to get approved. Either of these documents or both will do:

  1. Proof of billing – any document issued by utility companies like power, water, and internet service providers. These are just as universal as Government issued IDs if not more so.
  2. Company ID and pay slip – For Filipinos who are underemployed these documents are given.

Such a loan is often called a loan with no requirements in the Philippines, because it can get by almost any Filipino.

All you need to get a loan is to fill out a simple questionnaire, specify your name, address, income amount and bank account number. This is enough to get a loan.

  • Many ways to get a loan

You can get an online loan with no requirements at a company branch or in your bank account, whichever is more convenient for you.

  • Fast approval

Loans of this nature are great for people who are in a bind and need the money quick. The best part of fast approval loans are the minimal requirements that are likely to be in the borrower’s possession already. Fast approval loans also are done electronically so money is sent rather quickly, almost instantly.

  • Available for freelancers

Not all banks are willing to lend to people who have no official place to work. It’s hard for freelancers in the Philippines to get a loan. But fast credit companies very often give loans to freelancers. All you have to do is specify the amount of your steady income, even if it is not official. Digido is an example site where freelancers can borrow cash for everything they need.

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Types of Personal Loans

All personal loans are divided into 2 large groups: collateral and non collateral. (2) Let’s see how they differ from each other.

Secured loans

  • A type of loan that requires collateral. If the loan is not paid on time, there’s a chance the borrower can lose the collateral.
  • A collateral is any item, e.g. a vehicle, you agree to give away to the lender if you fail to pay what you owed.
  • As a collateral you can use the car, apartment, jewelry and other expensive property.
  • This loan is a lot easier to get since there is less risk to the lender.

Unsecured loans

  • This loan does not require collateral so there is no risk of losing the property.
  • It can be difficult to get, depending on the company.
  • It tends to have a higher interest rate.
  • Digido offers loans without bail so you don’t have to worry about losing the property.

We can see the great popularity of unsecured loans in the Philippines, because they are easier and more affordable for most citizens.

Fast Loan Approval

A personal easy loan for Filipinos is very useful in many ways as the economic situation of the country has a lot of issues from the lack of jobs to low income. Sometimes, there is a need to boost finances in the short term as emergency expenses can pop up at any time.

Such an easy loan needs to be given fast just as delays in salaries are bad news. Whether there’s an emergency or not, delayed cash is never really good. As the name implies, application for loans through this channel is done electronically and with minimal requirements which leads to loan requests being approved much faster than those requested from traditional banks. Therefore, quick approval and transfer of the required amount to the account is what people love and appreciate in fast loans.

The Best Personal Bank Loans in the Philippines

The best personal bank loan in the Philippines is one that offers the lowest interest rate. But, of course, the bigger the loan, the better.

Today, we will show you the best banks where you can apply for a loan. The factors we considered here are interest rate, amount of money you can loan, and the terms

Which bank is best for personal loan in the Philippines?

There are many banks loans in the Philippines like Metrobank, BDO personal loan, BPI personal loan, and Maybank. To answer this question, we need to put the banks on a table, like the one below.

Citibank ₱200,000 26.90% ₱21,150 12 ₱253,800 ₱53,800
HSBC ₱200,000 14.64% ₱19,106 12 ₱229,272 ₱29,272
BPI ₱200,000 14.40% ₱19,066 12 ₱228,792 ₱28,792
Chinabank ₱200,000 18.60% ₱19,766 12 ₱237,192 ₱37,192
Maybank ₱200,000 15.50% ₱19,266 12 ₱231,192 ₱31,192
Security Bank ₱200,000 22.64% ₱20,440 12 ₱245,280 ₱45,280
CIMB ₱200,000 13.47% ₱18,911 12 ₱226,932 ₱26,932

As you can see, for a personal loan of ₱200,000, the lowest loan interest is from CIMB. The CIMB personal loan interest rate is at 13.47%. Overall, the CIMB bank personal loan review in the Philippines is excellent

The CIMB personal loan requirements are the following:

  • Income tax return
  • Proof of address, bank statement
  • Utility bills
  •  Two to three valid IDs

Before you can apply for a loan, you must sign the form and send a photocopy of your ID. You must also send a copy of a payslip that was issued in the last two months

If you are self-employed, you need to provide a copy of the same documents, but they need a copy of your BIR Form 1701.

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Bank with lowest interest rate for personal loan

The bank with the lowest interest rate for personal loan is CIMB. This is followed by HSBC and BPI.

Here are the interest rates for these three:

  • HSBC – 14.64%
  • BPI – 14.40%
  • CIMB – 13.47%

The beauty of CIMB is that you can apply for a personal loan online. Some people may suggest Metrobank, but this bank has already stopped the personal loan offer.

Personal banking Metrobank is about savings and checking, and they no longer offer the Metrobank personal loan application. As such, you cannot find the Metrobank personal loan requirements or the Metrobank personal loan calculator from their website.

The same thing goes with PNB or Philippine National Bank. There are no details about the PNB personal loan calculator or PNB personal loan requirements because they no longer offer PNB personal loan in the Philippines.

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What loans will the banks approve in the Philippines?

You can use personal loans in the Philippines in any way you want. Once you apply, you can apply for the following:

You can also use your loans for buying equipment or for consolidating debts. However, you cannot use personal loans to buy a car.

What banks can I check out?

Here are some banks that you can check for personal loans. Take note that the approval varies from one bank to another.

Chinabank has a high personal loan interest at 18.6%, payable for 12 months. If your term tenure is longer, the China bank personal loan calculator
will indicate that you will pay a higher interest rate.

Take a look at this table sample of Chinabank personal loan:


₱100,000 18.60% ₱9,883 12 ₱118,596 ₱18,596
₱100,000 62.97% ₱4,527 36 ₱162,972 ₱62,972


At the outset, Maybank personal loan in the Philippines has an interest of 15.5%. There is no Maybank personal loan calculator available online, but they offer an interest rate as low as 1.3% per month.


Citibank offers flexible terms and up to ₱2,000,000 in personal loans. As you can see in the table below, the interest for Citibank personal loan can reach up to 34% if you pay longer than one year.

₱100,000 17.52% ₱9,793 12 ₱117,516 ₱17,516
₱100,000 34.06% ₱5,586 24 ₱134,064 ₱34,064

Although Citibank personal loan review in the Philippines is good, it is only because they have superb customer service. The loan interest is high, so only get this if you were disapproved by other banks.

It is easy to check your Citibank personal loan status as you can call them anytime. If you are interested, you can use the Citibank personal loan calculator on their website.

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Security Bank

The last on the list is Security Bank, which offers about 22% interest. Like other banks, they increase the interest for longer terms, as shown in the table below:


₱100,000 22.64% ₱10,220 12 ₱122,640 ₱22,640
₱100,000 45.44% ₱6,060 24 ₱145,440 ₱45,440

As you can see, the Security bank personal loan interest rate is now at 45.44% if you pay for two years. Like Citibank, you can call their facilities to check your Security bank personal loan status. If you are interested, the requirements are the same. You can download the Security bank personal loan application form from their website.

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Alternative to bank loans in the Philippines

Applying for a loan in the Philippines is cumbersome. There are so many hoops you need to go through, and you may get disapproved. If this happens, there are alternatives you can use.

These alternatives are:

  1. Online loan – many online facilities can loan you up to ₱20,000. Download their apps and apply.
  2. Pawnshops – get a loan in exchange for collateral. You can pawn your jewellery to get cash.
  3. Private Lenders – personal lenders in the Philippines will charge a small interest rate; just beware of loan sharks.

The personal loan with low-interest rate in the Philippines is CIMB. As always, make sure that you pay your loan on time. Follow your personal loan agreement in the Philippines with the bank. It will help you build a good credit score, and you can file for a higher loan amount next time.


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.

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


  • Where can I borrow money fast in the Philippines?
    You can get a quick loan from Digido. It takes a few hours and the money will be in your pocket.
  • Are Digido Legit?
    Yes, Digido is legit. It has SEC Registration No. CS201730459 and Certificate of Authority No. 1150.
  • Who is eligible for a loan from Digido?
    You must be a Filipino citizen 21-70 years old with a cell phone and stable income, and show a government ID.
  • What are the minimum and maximum loan amounts from Digido for new customers?
    New customers can borrow from 1,000 to 10,000 pesos.
  • What is the minimum and maximum loan amount from RDigido for repeat customers?
    Repeat customers can borrow from 1,000 to 25,000 pesos.
  • What is the minimum and maximum loan amount from Digido for new customers?
    New customers can borrow from 7 to 15 days.
  • What is the minimum and maximum loan term from Digido for repeat customers?
    Repeat customers can borrow for a period of 7 to 30 days.
  • What is the exact monthly interest rate for a cash loan from Digido day new customers?
    New customers can take out a loan at 0%.
  • What is the exact monthly interest rate for a cash loan from Digido of repeat customers day?
    For repeat customers the interest rate depends on the loan term and amount, but doesn't exceed 1.5% per day.
  • How long does it take to process a loan application?
    You will receive an answer in 5 minutes.
  • How do I know if I'm approved for a loan?
    This information will be displayed in your personal cabinet on Digido.
  • Can I borrow less or more than the limit?
    You can borrow less than the limit, but not more.
  • I was approved for the loan, when do I get the money?
    The money is sent as soon as the contract is signed. The speed at which the money arrives depends on your bank and is between 1 and 2 days. For Cebuana Cash Pick-up and G-cash, the transfer does not exceed 24 hours on business days.
  • Will my credit limit increase with a new loan?
    Digido will increase your limit automatically as soon as you repay the loan.
  • What should I do if I get turned down for a loan?
    If you have always made loan payments on time, there may be an error. Try to fill out the application again and submit it. The more personal information you provide, the more likely your application will be approved.
  • Can I cancel the application?
    This can only be done until the contract is signed.
  • Can I pay the loan prematurely?
    You can do this at any time. This will reduce the amount you have to pay.
  • How can I know the repayment date?
    You can only refuse the loan until you have signed the loan agreement.


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

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