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Personal Loans for Every Need: Rates, Terms, and More
Discover your best loan option for July — from budget to premium picks.
Quick Picks
Best overall: BPI Personal Loan.
Best for beginners: Tonik Quick Loan.
Best for high loan amounts: RCBC Pasado Loan.
Accessible Loan Options
For those seeking loans without stringent requirements, these options offer flexibility in eligibility and terms.
CTBC Bank Salary Stretch Personal Loan
CTBC Bank's Salary Stretch Personal Loan offers a competitive monthly add-on rate starting from 1.39%, making it a strong choice for salaried professionals and self-employed individuals. The absence of a separate processing fee is a bonus, though handling fees are deducted from loan proceeds, which might be a downside for some.
Tonik Quick Loan
If you're new to credit, the Tonik Quick Loan is a standout choice. It requires no existing credit history and offers a fully digital experience through their app, though the higher 4.20% monthly add-on rate reflects the added risk.
SB Finance Personal Loan
SB Finance provides an option for freelancers and OFW beneficiaries with its accessible personal loan, but the 2% monthly add-on rate is higher than others, which could be a dealbreaker if you're rate-conscious.
UnionBank Personal Loan
UnionBank's offering comes with the lowest monthly add-on rate of 1.26% among major banks, ideal for those prioritizing low rates, though its limited branch network might be inconvenient for some.
BPI Personal Loan
The BPI Personal Loan is perfect for existing clients, offering competitive rates starting at 1.20% monthly and a high loan ceiling up to ₱3 million. Its fast-track approval for current BPI credit card holders is a notable advantage.
For those needing substantial loan amounts or extended terms, the following options might be more suitable.
High-Ceiling and Long-Term Loans
Explore these options if you're seeking flexibility and higher financial capacity.
RCBC Pasado Loan
RCBC's Pasado Loan stands out for its high loan ceiling of up to ₱5 million, which is rare in the market. It's best for those who need a substantial amount with flexible terms extending up to 60 months.
Metrobank Personal Loan
Metrobank Personal Loan is a viable option for borrowers who appreciate a major bank's stability. The tiered rates starting at 1.25% for longer terms offer savings for those who can commit to 24-36 months.
For those who need the convenience of a major bank's network, the following option is notable.
Established Network Advantage
Consider this if network reach and reliability are your priorities.
BDO Personal Loan
BDO's Personal Loan offers the benefit of the largest bank network in the Philippines, with a predictable ACR range between 25.98% and 26.76%. It's a dependable choice for those who value stability and accessibility.
In conclusion, your choice of a personal loan should align with your financial needs and repayment capacity. Whether you prioritize low rates, high loan amounts, or flexible terms, there's a suitable option available. Always consider the total cost of borrowing, including fees and interest, to make an informed decision.
Rates and terms shown are representative. Your actual rate depends on your credit profile and circumstances. This is not financial advice — always read the lender's terms before applying.
