So, are you looking for an easy cash loan online? You are on the perfect page! I am going to talk about the best (and worst) online cash loans in 2019 as your GUIDE… ready?
These loan apps are perfect for people who have a tight budget right now…
People who are employed but is currently running out of cash — this quick cash loan is for you. People who are running a small business and want to roll out some marketing campaign or just want some additional fund — quick cash loans might be of help.
Quick cash loans can be helpful to students too. Are your parents not yet able to send cash for your upcoming tuition fees? Or fall short with your school project — continue reading on…
How much can you expect from these lending apps?
The answer depends on the individual app, yet the maximum loanable amount may reach up to 10,000 Pesos. A few of them may grant more than 10,000 Pesos after several loan repayments. The smallest amount on your first loan is 1,000 Pesos. The interest and payment terms vary.
As early as now, you know how much you will get from these quick cash loans — given you are about to apply ONLINE using your laptop or mobile phones — with no paperwork — and requiring you just 1 VALID ID…
If you need a higher amount, you should check this post that talks about a personal loan without collateral from 30,000 to 2,000,000 Pesos… (and get ready for some legal documents)
So, let’s get on the subject! I have enumerated them below, and explanations follow after the list — so be sure to scroll down…
Tested loan apps – Cash Loans Online Sure Approval
- TALA Philippines (Instant approval, real-time disbursement via Coins.ph)
- CashX (small interest like TALA)
- Meloan (Students can apply here using a valid student ID)
- CashWagon (0% interest due in 10 days)
Easy Peso(From fees to interest, 49%* all in all for 14 days)
- Fast Cash
- UPESO (pre-approved of 6k*, disbursed in less than 24 hr.)
- Kredit Pintar PH
- Cashalo (good customer reviews)
- Pera247 (good customer reviews)
- Umbrella (good customer reviews)
- More lending apps soon…
TALA Philippines — if you badly need some cash today, TALA could be your savior because it will give you a decision right away — the system is fully automated. Most likely, you will be approved from 1 to 1.5k. Not bad, right? If you have no bank account, TALA has several payment gateways! Up to 15% interest in 30 days with 7 days grace period if ever you can’t settle on the 30th.
CashX — CashX received good feedback. One time, it became viral on Facebook forcing the operator to temporarily remove its application on the Google Playstore. It only charges a small amount of interest. For example, if your loan proceeds is 1000, you have to pay an interest amounting to 100 within 30 days. Not like most of the lending apps today, it does not have processing fees, so you can get the principal loan value in full. For more info about CashX — check its official website here.
Meloan — Designed to help employees and students who fall short of budget. For students who do not have a government ID yet, you can use your valid school ID to apply. Check its website here.
Friendly Tip: It’s best to ask permission with your parents if you decided to apply for a loan, especially if you have no extra income… parents know best, right? If you are dependent on them, it’s really nice for you to let them know about the situation.
Do you want to know how to help your parents? I am really impressed with students who are resourceful enough to help their parents — who are trying their best to make extra money for their project and allowance.
If you love to write and want to share your experiences in life — or your passion — I will teach you how to blog and make money from it!
CashWagon —0% payable in 10 days! That’s an awesome offer from CashWagon. You get 2K without interest payable in 10 days. However, you need a bank account to apply and a company representative will call you to verify your account or application… but the approval is quick. Best time to apply is Monday or Tuesday. Don’t apply on Fridays because they are out during the weekends. The loan proceeds has no upfront deduction.
LoanIt — if you are not approved with TALA or CashWagon, try LoanIt. It will give you quick feedback as well, though the interest is higher than TALA and CashWagon, and the loan term is only 14 days. They will deduct the processing fees upfront.
Easy Peso (legit but I won’t recommend anymore)– another legit loan app, however, just like LoanIt, it will deduct charges and processing fees upfront. However, if you are not approved with the first two (TALA & CashWagon), you may try Easy Peso. The loan will due within 15 days so prepare ahead…
Feedback: I am not going to get a repeat loan due to fees and interest. The total upfront deduction plus the interest could amount to 49% based on your loan proceeds. For example, when you loan for 4k, you get 3,060 and you will be paying 4,560 in 14 days.
Fast Cash — I have tried Fast Cash and it’s legit like the above cash loans online apps. Just like LoanIt and Easy Peso, it deducts application related fees upfront. The loan will be due in 14 days. The interest is higher (20%+) almost same with LoanIt and Easy Peso. Again, if you are not lucky with the first two, you may try Fast Cash.
Feedback: There are several borrowers who had a horrible experience with Fast Cash, especially when they could not settle their obligations on time. When the loan is already due for several days, there is a big tendency that the collector will send bulk text messages to all the borrower’s contacts.
Recently, Fast Cash has changed the name of its app and I am still verifying it (will update here soon)…
Even if you are indebted to someone doesn’t make you less of a person… that’s true. If you are being maltreated now, you can seek help with the authorities. I also invite you to read my post on how to cope up with the stress when you are into this kind of situation right now.
UPESO — UPESO is legit too. I have received a text message with UPESO that I got a pre-approved loan worth of 6K and they have successfully disbursed the loan proceeds in less than 24 hours — no call verification whatsoever, I just provided a valid ID and a bank. Payable in 30 days. The interest rate in a 30-day term is 47%, 7% higher than CashWagon for its 30-day term.
Kredit Pintar PH – The most recent app that I have tried is Kredit Pintar PH. Their loan app is user-friendly, though the approval is not that fast… Originally, I have applied for 5K, but I was granted with 3K on December 8. Just today (12/10/18), the loan proceeds was deposited in my bank. What’s good with Kredit Pintar, repeat borrowers with good records can choose longer payment terms. Right now, I have to settle my account with them within 14 days for 26% interest.
Cash loans online with lowest interest rates
Above, I have also mentioned Cashalo, Pera247 and Umbrella… like TALA Philippines, these online loan providers have the lowest in terms of interest rate, however, I am not fortunate enough to get approved.
- Cashalo – disapproved 1st and 2nd attempt, I think the app has a bug, I might reinstall a fresh copy on my 3rd attempt…
- Pera247 – disapproved in my first attempt…
- Umbrella is not compatible with my Android phone, so I gave up for now…
Anyway, if you get disapproved, you can re-apply again after some time, maybe after 4 weeks.
How to apply or how to access the lending apps?
- Google or Playstore. Either search the name of the app or lending company on Google, or search a particular app on the Google Playstore.
- If the lender allows you to apply for a loan on its website — you should choose that option than installing an app on your mobile phones. For example, CashWagon allows the borrower to apply on its website. On the other hand, TALA Philippines and CashX can only grant you for a loan on its mobile apps.
- Install the apps on your mobile phone. If no. 2 is not an option, you really need to install the app so you can proceed with the application.
- Prepare 1 valid ID, most of these lending companies only ask for 1 valid ID. But not all valid IDs are accepted, however, most of them accept UMID by the SSS.
- Prepare your bank account details (optional), but the majority of the lending apps today requires your personal bank account for the loan disbursement. Don’t have a bank account? You can open a bank account on RCBC for 500 Pesos. What’s good — it only requires a 1 valid ID.
- Prepare your latest payslip (optional), not all of them ask for a copy of your latest payslip… and this is an optional step to increase the approval rate of your application.
- Answer all the required questions or fields on the app. Remember that every lending app has its own pre-defined criteria for approving applicants, so your personal information entered on the apps can greatly affect the approval of your application. Not all will get a loan, but you can always try again after a few weeks when disapproved on your first application or move on to the next app…
Are you a member of SSS? Before you proceed with the next app, why not try the SSS salary loan? If you don’t want to fall in line, you can do the application online — at your home, without doing any more paperwork! Kindly check my experience here.
A piece of advice…
While cash loans online is fast and easy, you should weigh it down first and ask yourself if you really need extra money by borrowing money. You have to remember that this type of loan is short term, and will charge you a significantly high interest.
As mentioned above, the loan terms are usually 14 to 30 days. Can you pay on the due date? If not, you might run into a problem, and interest will accumulate fast if you cannot pay on the due date.
So, if you decide to borrow money online — make sure to pay on time so you would not pay additional charges and pay even bigger accumulated interest.
Importantly, I have written an article that talked about 3 important or effective steps to cope up with the stress due to an unpaid loan from a loan shark (online lending that charges a sky-high interest can be considered as a loan shark). This is not just applicable to people who are into the sad situation already — but this can help anyone who is still planning to grab a loan offer online. Read the story here.
Also, be SCAM-PROOF!!! If you are on various “pautang” groups on Facebook, you might encounter some individuals who are offering for a loan in bigger amounts — with just a valid ID and a promise of a fast disbursement. Don’t believe just yet, because most of them will ask you for an advance interest or membership fees — to be paid via Smart Padala or other payment gateways — this scheme is 101% SCAM.
Make sure to screenshot your conversations, and report it to the group admins so they can block the said scammer. Again, learn how to determine whether an offer or a lender is legit or scam by reading this!
Do you have questions or concern — join our groups on Facebook! See you there.
Oops — one last thought here — not all the times we need to resort to borrowing money. We understand that the prices of the basic commodities are rising and our income is not enough for the needs of the family — so aside from borrowing money — the best thing we can do is look for ways to make extra money!
On my end here, I make extra money by BLOGGING. Yes, blogging, so if you are interested to MAKE EXTRA MONEY so that you will not resort to LOANS all the time — read this story right here, right now!
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