How to Apply for a Cash Loan?
To apply and be approved for a cash loan here in the Philippines you will need to have the following qualifications:
- Must be 18 years old and above.
- Have a Government issued I.D
- The ability to prove that you have an income.
- Have a complete and legitimate contact information.
What is a Cash Loan?
It is a type of loan in which you borrow a smaller amount of money from lender, it is also commonly called a “payday loan”. Your cash loan may be tied to your salary like a payday loan is, however, it may also be provided to you in terms of instant cash, just like an ordinary loan.
What’s the difference between a Cash Loan from a Personal Loan?
Cash loans typically have a short-term repayment plan, in which you must repay the money that you loaned over one, two or three month period.
Because these loans are usually for a smaller amount, you may also be quoted a higher interest rate compared to a regular personal loan. The repayments will be quicker, back to the lender.
Cash loans are for people who urgently need cash and have the capacity to pay it back over a short period of time. Often the individuals who borrow money under these terms, need to cover a short period of time where they are low on funds, but they are confident they will have funds again very soon (example, salary from their next pay day).
It is crucial to know first whether the company is legit or not simply because most of the private lending companies here in the Philippines are online-based meaning you can transact to them only through the use of their website.
You can apply for a cash loan on this website right now, you will get a quick response and the support staff will help you process it very quickly.
Or you can search other lending companies who offer this type of quick and smaller loan.
On the other hand, its counterpart which is the personal loan is a type of loan in which you directly borrow money from the bank. It also has a lot of requirements for you to submit before you get approved.
However, it has lower rates of interest than a cash loan and you can pay it in more installments over a longer period of time. A personal loan and also a cash loan will usually not require you to leave any goods as collateral when you borrow the money. That would be a different type of loan again, called a collateral loan or a ‘secured loan’.
How Much Money Can I Borrow through Cash Loan?
Here in the Philippines, usually private lenders provide cash loans to their clients up to Php10,000, however, dependent on your salary you may be entitled to a larger amount. We can determine this for you after you apply here on this website if you choose to.
Money lenders or lending companies don’t hand out to cash to every person who asks for it. Every person who applies like you, will be looked at individually and generally if your borrowing history is ok and if you have means to repay the loan, you could be likely to be offered a cash loan of some amount.
If you’re ready to apply for a cash loan, you can click any of the APPLY NOW buttons on this page.