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Salary loan - easy financial assistance

Free loan 0%
  • 0% up to 10 000 ₱ First loan
  • 1 000 ₱ - 25 000 ₱ Amount
  • 21 - 70 Age
  • 90 days - 6 months Term

Loan amount: 25000 ₱. Max loan term: 6 months. Max APR: 143%. Company: DIGIDO FINANCE CORP. More information on the lender's home page.

Without fees 0%
  • 0% up to 20 000 ₱ First loan
  • 1 000 ₱ - 20 000 ₱ Amount
  • 18 - 75 Age
  • 61 day - 4 months Term

Loan amount: 20000 ₱. Max loan term: 4 months. Max APR: 36%. Company: Fininity Ltd. More information on the lender's home page.

The first loan for free 0%
  • 0% up to 20 000 ₱ First loan
  • 500 ₱ - 20 000 ₱ Amount
  • 22 - 75 Age
  • 90 days - 6 months Term

Loan amount: 20000 ₱. Max loan term: 6 months. Max APR: 145%. Company: MONEYCAT FINANCING INC. More information on the lender's home page.

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Salary loans - what you need to know

Want to get a salary loan without overpaying? Use our salary loan comparison section to find the cheapest and most advantageous loan in just a few minutes. Compare salary loans and get money today!

In today’s world you may need money urgently at any time. An urgent monetary requirement can upset an average Filipino’s entire financial planning. In such situations, the best solution may be a salary loan.

Salary loan is a loan that you can apply online directly without visiting the lender's office physically. Communication between the borrower and lender will be done online throughout the loan application process. Most salary loans are unsecured and will only require minimal documentary requirements. Sound great, right? The release of funds is also very convenient as it is directly transferred to your bank account or debit card. However, compared to the conventional personal loans offered by banks or private lenders, the loan amount, especially for first time may not be as big.

Salary loans offer many benefits because otherwise they would not have gained so much popularity in the society.

Are salary loans legit? Lending companies that legally operate online and cater to Filipinos are required to be registered under DTI. They usually have a physical office set up within the Philippines and can be easily tracked.

Why do people take salary loans?

Usually, people take salary loans when the out of the pocket expenses exceed their regular savings. For example, if you had to spend a substantial amount on your pet’s treatment, your financial reserves for credit card payments will become inadequate, at least for the month. 

These are common reasons for the Filipinos to arrange a loan: 

  • Paying Bills. If you are having difficulties paying your bills, a salary loan can help. You can pay utility bills, TV and Internet bills, and more. The main thing is not to do this every month!
  • Vacation Expenses. Go on the vacation of your dreams! Relax in a luxury hotel - you deserve it! A vacation loan will allow you to rest properly and restart work with new energy.
  • Appliance purchases - Allow yourself the appliances you have 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!

Interest - free loans

More and more lenders are offering interest-free loans. Here, for sure, many of you may be thinking: "How do you get an interest-free loan? Is that even possible?"  Yes, you can get a loan without interest, without overpaying anything. If you have borrowed 10000 ₱, then after a certain time you will have to return the same 10000 ₱. There is very strong competition between lenders, so loan companies often offer to get the first loan without interest, thus attracting customers.

It is important to note that an interest-free loan does not always mean a loan completely free of charge. When applying for a loan, it is necessary to pay attention to whether the lender does not charge a commission fee for issuing a loan, etc., so we definitely recommend paying attention to additional costs.

Salary loan without a job

Is a salary loan without a job possible at all? Yes, such a loan is possible. It is not an easy mission to get a loan if you do not have a job in the Philippines, even if you have a job with a low or irregular monthly salary, it remains difficult. But as we all know, the critical financial emergencies in life must always be expected for which you need the help of the quick loan. But how can you get the quick loan if you are unemployed?

There are a number of companies from which you can get your loan, each company has its own policies and methods of application, so it is very likely that one of the lending companies will issue you a loan.

Conditions of receiving a loan

Each lender individually determines its own conditions. For example, there are lenders who issue loans from the age of 18, but there are those who offer loans to people who are at least 20 years old. This is also one of the reasons why it is desirable to make a loan comparison beforehand, because only in this way it is possible to find out whether you comply with the principles set by the lender.

Salary loan lenders are not as strict in eligibility compared to conventional banks. Most lenders offering cash loans on the Internet have requirements for loans:

  • be a citizen or resident of Philippines;
  • be between 18 and 75 years old;
  • have a bank account within a Philippines bank;
  • have a valid phone number;
  • do not have overdue loan payments or debt.

Important tips about salary loans

  • The amounts of salary loans are small, the repayment term is short, but the interest rates are much higher than other types of loans, so it is important to repay the loan on time.
  • Use a salary loan for unplanned expenses: to pay bills, to repair a car, etc. Never borrow a salary loan to fulfill your dreams or desires. You can do this from your savings. If you do not have savings yet, then it is time to create them.
  • You can get a loan very quickly - in an average of 15 minutes, without leaving home, which significantly facilitates the process of receiving money.
  • The loan can be obtained without interest, without overpaying.

How MyCredy works?

MyCredy is designed to be simple and fully understood by everyone who uses it, so using MyCredy will definitely not be a problem.

  • Choose the appropriate financial category / area (you need to understand which of the financial solutions you need - salary loan, personal loan, etc.)
  • Compare all the companies' offers (for the comparison to be effective enough, all the companies' offers must be evaluated).
  • Fill in the application on the website of the selected company and wait for the decision.
  • Someone definitely may be wondering how much it costs to use MyCredy. With MyCredy, you will not be charged any additional fees - so you can use it completely free of charge.

We humans are different, so each of us has our own rhythm and order of life. For this reason, the financial service MyCredy is available at any time. Its operation is provided 24 hours a day, 7 days a week, so you can make the comparison at your convenience.

Every day we help countless clients to find the most advantageous and suitable financial solution - we can also help you!

Save your time and money with MyCredy!