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GCash Loans. Apply for Personal Loans Online

Looking for GCash loans online in the Philippines? Apply for personal loans online, compare options, and find the best rates.
Offers: 4
Updated:
10.02.2024
20:27
MoneyCat
Instant cash loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱20000
Rate
i

Effective interest rate on the product

11,9% per month
Term
i

Loan term for the financial product

6 months
DIGIDO
Instant online loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4
Recommended FinScore™
0
300
650
1000
10500.00 – 25000.00 ₱
Rate
i

Effective interest rate on the product

from 11.90 %
Term
i

Loan term for the financial product

3 days – 6 days
Kviku
Online Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
500.00 – 25000.00 ₱
Rate
i

Effective interest rate on the product

to 0.16 %
Term
i

Loan term for the financial product

2 months – 6 months
Get the money you need online
Get the money you need online

Use our quick loan matching system with a free credit check!

TALA
Tala Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

2.95
Recommended FinScore™
0
300
650
1000
1000.00 – 15000.00 ₱
Rate
i

Effective interest rate on the product

to 0.50 %
Term
i

Loan term for the financial product

21 days – 1 months
GCash Loans Calculator of February 2024 

Your ideal online loan with a free credit check in the Philippines, just a few clicks away.

Loan amount
i

Enter the desired loan amount

PHP
PHP
10000 ₱
2000000 ₱
Loan term
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Specify the loan term for the calculation

months
days
3
120
City
Reviews
Savii
1
No comment yet coz im not yet approved in my application
Review
DIGIDO
5
very fast
Review
Kviku
4
Please address my concerns regarding my loan application and its processing...
Review
Kviku
1.6
Warning: This lender is predatory and extremely dangerous. Do not use this app for loans as they will trap you with impossible and maliciously high interest rates...
Review
Kviku
1.4
I was charged an excessive amount by KVIKU. My last loan was approved on November 25th, 2022 for 5000 pesos...
Review
Kviku
1.8
High Interest Rate. They approved my auto loan without discussing repayment options in full. Instead, they sent me a contract with scheduled payments, which is nowhere near the advertised 0...
Review

About GCash

GCash, a leading mobile wallet service in the Philippines, has expanded its offerings beyond traditional payments, positioning itself as a comprehensive financial solution for Filipinos. The platform encourages users to seize control of their financial futures, offering a range of services designed to facilitate financial empowerment.

One noteworthy facet of GCash's service suite is GLoan, a secure credit line offering instant cash with a credit limit up to PHP 125,000, directly deposited into the user's GCash wallet and repayable over 24 months. GLoan boasts easy approval processes, requiring no additional documents or collateral, with an approval contingent on elevating the user's GScore.

Key Features

  1. Instant Cash Disbursement. GCash loans provide users with swift access to funds, allowing for instant disbursement of up to PHP 125,000 directly into their GCash wallets.

  2. Flexible Repayment Period. Borrowers can enjoy the flexibility of repaying their loans for 5 to 24 months, accommodating various financial situations and preferences.

  3. Easy Approval Process. The loan approval process is designed to be hassle-free, with zero requirements for additional documents or collateral. Approval is expedited, particularly for users who have elevated their GScore.

  4. Competitive Low Interest Rates. GCash loans feature competitive interest rates, with rates as low as 1.59% per month, ensuring affordability for users seeking financial assistance.

  5. Transparent Fee Structure. The platform upholds transparency by providing a clear fee structure. Processing fees are kept at 3% of the principal amount, minimizing unexpected charges for borrowers.

Pros and Cons

Pros

No Hidden Charges. Borrowers can trust the lending process, knowing that GCash loans come without hidden charges, contributing to a transparent and reliable financial service.

Instant Access to Funds. GCash loans offer quick and immediate access to funds, providing users with the financial support they need promptly, whether it's to pay bills or for personal project funding.

Re-Availment Option. Upon the full repayment of an outstanding loan, users have the convenience of re-availing another GCash loan instantly, subject to eligibility review.

Cons

Limitation to GCash Wallet. The exclusive disbursement to the GCash wallet may be a limitation for individuals who prefer other banking channels or need cash in hand.

Geographical Limitations. GCash services are primarily available in the Philippines, limiting access for individuals outside the country who may require financial assistance.

Late Payment Fees. The imposition of late payment fees, comprising 1% of the loan amount and 0.15% of the outstanding balance per day past the due date, could be a drawback for individuals facing temporary financial challenges.

Reliability

GCash, a mobile payments service situated in the Philippines, is under the ownership of Globe Fintech Innovations, Inc., which operates under the trade name Mynt. Its day-to-day operations are overseen by the wholly-owned subsidiary, G-Xchange, Inc. This financial technology venture, Mynt, is the result of a collaboration between three major entities: Ant Group, an affiliate company of Alibaba Group and operator of Alipay, a leading global mobile and online payments platform; Ayala Corporation, a prominent and longstanding business conglomerate in the Philippines; and Globe Telecom, facilitated through its corporate venture builder, 917Ventures.

GCash asserts a substantial user base, with reported figures indicating 81 million active users and a network of 2.5 million sellers and merchants distributed across the Philippines. These statistics underscore GCash's widespread adoption and integration within the local business landscape.

Powered by Fuse Lending, Inc., the company operates under the regulatory oversight of the Securities and Exchange Commission.

How to Apply for a GCash Loan?

Apply for a loan

  1. Start by navigating to the main page of your GCash mobile app. Locate and tap on the "Borrow" option, then select "GLoan" to initiate the loan application process.

  2. Upon entering the GLoan section, you will be presented with essential information including your loan limit, interest rate, and processing fees. Take a moment to review these details to make informed decisions.

  3. Customize your loan by selecting the desired amount and specifying the purpose for which you are seeking the loan. Before proceeding, carefully review all the provided information to ensure accuracy.

  4. Once you've determined your loan specifics, review additional details such as the disbursement amount, monthly dues, and your first due date. This step is crucial for understanding the financial implications of the loan.

  5. Confirm your GCash loan online application by undergoing a verification process. You will receive a One-Time Password (OTP) sent to your registered mobile number. Enter the OTP as prompted to authenticate your application.

  6. Upon successful verification, you can enjoy the convenience of instant disbursement. The approved loan amount will be promptly transferred to your GCash Wallet, providing you with immediate access to the funds.

Conditions and Requirements

Conditions

  1. Instant Access to Funds. GCash provides borrowers with quick and immediate access to funds, ensuring timely financial assistance.

  2. Flexible Repayment Terms. Borrowers benefit from a flexible repayment period, ranging from 5 to 24 months, allowing for tailored repayment schedules.

  3. Competitive Interest Rates. GCash offers competitive interest rates, starting as low as 1.59% per month, contributing to the affordability of loans.

  4. Transparent Fee Structure. The lending platform maintains transparency with a clear fee structure, including a processing fee of 3% of the principal amount.

  5. No Hidden Charges. Borrowers can trust that their cash loan transactions with GCash loans come without hidden charges, ensuring a transparent and trustworthy lending process.

  6. Exclusive Use of GCash Wallet. The loan amount is disbursed directly to the borrower's GCash wallet within 48 hours, providing a seamless and convenient experience.

  7. Re-Availment Option. Upon full repayment of an outstanding loan, users have the convenience of re-availing another GCash loan instantly, subject to eligibility review.

Requirements

  1. Age Eligibility. Borrowers must be within the age range of 21 to 65 years old to qualify for GCash loans.

  2. Filipino Citizenship. Borrowers must be Filipino citizens, ensuring that the lending service is available to residents of the Philippines.

  3. Fully Verified GCash User. Eligible borrowers must maintain a fully verified GCash account, demonstrating their commitment to the platform.

  4. Good Credit Record. Borrowers should maintain a good credit record and refrain from engaging in fraudulent transactions to qualify for GCash loans.

  5. No Simultaneous Loans. Users are restricted to availing only one GLoan at a time, ensuring that borrowers focus on managing one loan before obtaining another.

  6. Verification through OTP. Borrowers are required to verify their loan application through a One-Time Password (OTP) sent to their registered mobile number, enhancing security and authentication.

Best Places to Get a Loan Today

Digido

Apply for a loan

Digido is an online loan company in the Philippines, offering non-collateral cash loan services. They provide a fully automated online portal for a seamless loan application process. Key features include:

  • Automated application process.
  • Loans for various purposes, including emergency and OFW loans.
  • No collateral required.
  • Online loan calculator.
  • Transparent interest rates, with a commitment to fair lending practices.
  • Loan accessibility for unbanked individuals.
  • Secured operations, fully licensed and registered under the SEC.

Digido

MoneyCat

Apply for a loan

MoneyCat is an online payday loan provider in the Philippines, offering efficient financial solutions with an easy-to-navigate online registration form. Their features include:

  • Swift approval process, usually within 24 hours.
  • Flexible loan amounts ranging from PHP 500 to PHP 20,000.
  • Convenient application methods via website or mobile app.
  • First loan free of charge for new users.
  • Licensed by the SEC, ensuring reliability and legitimacy.

MoneyCat

Finbro

Apply for a loan

Finbro is an online lending platform providing quick loans with durations of up to 12 months and amounts ranging from ₱1,000 to ₱50,000. Their service includes:

  • Online application process that can be completed in 15 minutes.
  • Transparent conditions with no extra costs.
  • 24/7 service availability.
  • Data protection for users.
  • Higher interest rates for repeat loans.
  • No mobile app for accessibility.

Finbro

Kviku

Apply for a loan

Kviku is an online lending institution known for providing short-term loans with a fully automated online service. Their main features are:

    • Simple and user-friendly loan procedures.
    • 24-hour approval process.
    • No hidden fees or charges.
    • 100% online lending experience.
    • Competitive interest rates at 0.16% daily.
    • Flexible repayment terms up to 180 days.
    • Registered and authorized by the SEC, ensuring reliability.

Kviku

Ways to Receive the Money

The primary and most immediate method is having the approved loan amount instantly disbursed directly to the borrower's GCash wallet. This provides quick access to funds for immediate use.

Products

The flagship loan product offered by GCash, GLoan provides users with instant access to cash directly deposited into their GCash wallets. With flexible repayment terms and competitive interest rates, GLoan caters to a variety of financial needs.

Reasons for Getting Rejected for a GCash Loan

  1. Incomplete or Inaccurate Information. Applications with incomplete or inaccurate personal details may face rejection. It's essential to provide accurate information during the application process to ensure eligibility.

  2. Insufficient Age Requirement. If the borrower falls outside the specified age range of 21 to 65 years, their loan application may be rejected. GCash has set age criteria to ensure the eligibility of applicants.

  3. Unverified GCash Account. A fully verified GCash account is a prerequisite for loan approval. If the user's GCash account is not fully verified, it may lead to the rejection of the loan application.

  4. Poor Credit Record. Maintaining a good credit record is crucial for loan approval. Applicants with a history of late payments, defaults, or other unfavorable credit activities may face rejection.

  5. Engagement in Fraudulent Transactions. Users involved in fraudulent activities or attempting to manipulate the lending system may be rejected. Maintaining a clean record is essential for loan approval.

  6. Simultaneous Existing Loans. GCash typically allows users to have only one active GLoan at a time. If the applicant already has an outstanding loan, they may need to settle it before applying for a new one.

  7. Non-Compliance with Eligibility Criteria. Failure to meet the eligibility criteria, including citizenship requirements and other specified conditions, may result in the rejection of the loan application.

  8. Unstable Financial Situation. If the lending platform perceives the applicant's financial situation as unstable or poses a risk of non-repayment, the application may be rejected to mitigate potential losses.

  9. Exceeding Loan Limit. Attempting to borrow an amount beyond the approved loan limit may lead to rejection. Users should be mindful of their eligible loan limits when applying.

  10. Failure to Verify Application with OTP. Upon application, users are required to verify their identity through a One-Time Password (OTP) sent to their registered mobile number. Failure to complete this step may result in rejection.

  11. Late Payments on Previous Loans. If the applicant has a history of late payments on previous GCash loans, it may impact their creditworthiness and lead to rejection for subsequent loan applications.

How to Repay a GCash Loan?

  1. Choose Payment Method. GCash provides various payment methods for loan repayment. You can select from available options such as GCash balance, linked bank accounts, or other supported payment methods to pay your GLoan.

  2. Confirm Payment. Confirm the payment details, including the amount and payment method, before proceeding. Double-check to ensure the accuracy of the information.

  3. Complete Transaction. Follow the prompts to complete the transaction. Depending on your chosen payment method, you may need to authenticate the payment using your GCash PIN or other security measures.

  4. Receive Confirmation. Once the payment is successfully processed, you will receive a confirmation message or notification within the GCash app. This confirmation serves as a receipt for the repayment.

  5. Monitor Loan Status. Check the loan status within the app to ensure that the repayment has been reflected. The app typically provides an updated loan status, including details on the remaining balance.

  6. Set Up Auto-Deductions (Optional). For added convenience, consider setting up auto-deductions from your GCash wallet. This ensures that monthly dues are automatically deducted on the due date, reducing the risk of missed payments.

Alternatives

Radiowealth Finance

Radiowealth Finance offers loan amounts ranging from ₱10,000 to ₱3 million with flexible repayment terms spanning 3 to 36 months. This financial institution provides a diverse range of loan options to cater to varying financial needs, promoting accessibility for a broad spectrum of borrowers.

UNO Digital Bank

UNO Digital Bank's Personal Loan services extend from ₱10,000 to ₱200,000, featuring convenient repayment periods of 6 to 36 months. With an attractive starting interest rate of 1.79%, UNO Digital Bank provides a user-friendly digital platform for borrowers to access personalized loan solutions with competitive terms.

Tonik

Tonik stands out with loan offerings ranging from ₱250,000 to ₱5 million, coupled with flexible repayment durations spanning 12 to 60 months. With competitive interest rates ranging from 0.92% to 0.98%, Tonik positions itself as a modern and innovative financial institution, emphasizing accessibility and favorable terms for its customers.

Tala

Tala provides quick and accessible loans with amounts reaching up to ₱25,000 and short-term repayment periods ranging from 15 to 61 days. Noteworthy is Tala's daily service fee, which falls between 0.43% to 0.5%, offering a transparent and straightforward fee structure for users seeking short-term financial assistance.

Editorial Opinion

In evaluating GCash's loan services, it is evident that the platform has successfully positioned itself as a prominent financial solution for many Filipinos, offering a range of loans with competitive interest rates and flexible repayment terms. The platform's integration of the borrowing process within its mobile app enhances accessibility and convenience for users. However, it is crucial for borrowers to be mindful of the specified eligibility criteria and responsible financial practices to ensure a positive and seamless lending experience. Additionally, the transparency in fee structures and the commitment to providing instant access to funds contribute to GCash's appeal as a reliable lending option in the Philippines.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender in the Philippines

  1. Ensure that the lender is registered with the Securities and Exchange Commission (SEC) of the Philippines.

  2. Investigate if the lender is a member of recognized industry associations in the Philippines, such as the Chamber of Thrift Banks or the Philippines Finance Association.

  3. Carefully examine all terms and conditions of your loan contract. This includes understanding the repayment schedule, fees, and any penalties for late or missed payments.

  4. Payday loans can have high-interest rates. Make sure the contract clearly outlines the interest rate and total cost of the loan, including any processing fees or additional charges.

  5. Familiarize yourself with your rights regarding cancellation. In the Philippines, consumers may have the right to rescind the loan within a specific period after signing the agreement.

  6. Research the lender's reputation through customer reviews, complaints, and feedback available online.

Methodology

In Finanso, we've carried out a comprehensive analysis of over 50 lenders in the Philippines, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

FAQ

How can I check my GCash loan eligibility?

To determine your eligibility for GLoan, ensure that you meet the specified criteria outlined by GCash.

First, applicants should fall within the age range of 21 to 65 years old to be considered eligible for loan services. Second, being a Filipino citizen is a fundamental requirement to access GLoan. Third, applicants must have a fully verified GCash account, underscoring the importance of completing the necessary verification processes within the mobile app. Lastly, to enhance the likelihood of loan approval, maintaining a good credit record and refraining from engaging in fraudulent transactions are crucial prerequisites.

By aligning with these eligibility criteria, pre-qualified users can obtain a GLoan instantly.

Can I loan again after paying GLoan in advance?

Yes, you can apply for another GCash loan after paying off your GLoan in advance. GCash allows users the flexibility to re-avail a loan once they have fully settled their outstanding balance. This feature promotes convenience for borrowers who may have varying financial needs over time. However, it's important to note that the re-availment is subject to an eligibility review, so users should ensure that they continue to meet the necessary criteria for loan approval. Additionally, maintaining a positive credit record and adhering to responsible financial practices can enhance the likelihood of a successful re-availment of a GCash loan.

What happens if I don't pay my GLoan?

  1. Late Payment Fees. GCash typically charges late payment fees for every missed due date. These fees are often calculated based on a percentage of the outstanding loan balance and can accumulate for each day the payment is overdue.

  2. Interest Accrual. Unpaid loan amounts may accrue interest, increasing the overall repayment amount. It's essential to settle payments promptly to minimize additional interest charges.

  3. Impact on Credit Record. Non-payment or delayed payments can hurt your credit record. This may affect your creditworthiness and could impact your ability to borrow from GCash or other financial institutions in the future.

  4. Temporary Suspension of Services. GCash reserves the right to temporarily suspend certain services or features on your account if payments are consistently overdue. This could impact your ability to perform certain transactions through the GCash platform.

  5. Legal Action. In extreme cases of non-payment, GCash may take legal action to recover the outstanding amount. However, this is typically a last resort and is contingent on the severity of the delinquency.