What is a Personal Loan?

A “Personal Loan” is usually the name used by most people to describe borrowing money.

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However, getting a “personal loan” from a lender is different from getting a “cash loan”, or a “salary loan” and even a “collateral loan”.

Personal Loans

Personal Loans are usually more simple to understand in nature.

The borrower agrees with the lender to money, and pay it back with interest added on top at a later date.

The lender could be a big name Bank and institution like BDO or BPI, or a smaller licensed lending company. Generally, a personal loan is a direct loan standard loan no matter who providers it to the client.

Just for example: If the client borrows Php20,000 from the bank, they will agree to make payments to the bank every month that will equal more than the original Php20,000.

(this is of course “interest” and is how the lending companies make their money).

The client who borrows Php20,000 may agree to a 6 month repayment plan. And they will make deposits of Php4,333.33 to the bank on the same day every month.

Over 6 months, this calculates to Php26,000 in total repayments. Therefore, the bank takes back Php26,000 for lending Php20,000.

A Personal Loan in the traditional sense, is different from other loan types. When persona loans are given out to clients, the lender does not claim their salary from their employer.

Nor does the lender hold electronic goods, cars or other goods as “collateral”. Because this would be a “collateral loan” which is usually different from a Personal Loan.

If you are looking for a Personal Loan like the agreement I have described, you can apply here on this website and we will match you for free, with a Bank or a licensed lender in the Philippines who will review your application and offer you a loan.

Just click the APPLY button on this page, and complete your details.

Please note: the repayment amounts mentioned in this article are for example only. Your loan amounts and repayment amounts may be more or less than the example provided.

You will be able to review the loan offer and decide if you wish to accept it or reject it.

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How much can I borrow?
How much can I borrow?

You will only be approved for a Personal loan that you can afford. This will be determined by your salary and everyday living expenses. A bank or lender will always attempt to loan you what you can afford to repay.

What are my repayments?

Your repayments will be higher, if your personal loan amount is higher. And lower if your loan amount is lower. A licenses lender / or bank will always aim to issue you with an amount you can afford to repay.

Is this secure & safe?

Yes. We help thousands of Filipinos get a loan every month. And we have not yet had any concern reported to us. The services we provide are secure and online. Your information is cared for like it is our own.

Who are you?

We're based right here in the Philippines. We match our clients to the right lenders. So you can have the best chances of approval and the quickest turn around time. We have partnerships with the biggest banks and lenders in the Philippines.

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