Lender
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.

Online Loans Pilipinas

Advertiser Disclosure

About Lender

Online Loans Pilipinas, a reputable finance platform, specializes in delivering digital financial solutions tailored to the specific needs of Filipinos. The platform focuses on online micro and consumer financing, striving to enhance the financial well-being of its customers.

The services provided by Online Loans Pilipinas include fast and convenient financial solutions, eliminating the need for office visits, collateral, and complex approval processes. With Online Loans Pilipinas, Filipinos can access quick financial assistance without the hassle of waiting in queues.

Online Loans Pilipinas

Key Features

  1. Fast Processing. Online Loans Pilipinas prioritizes speed, ensuring that the entire online application process takes just a few minutes. Upon approval, the platform guarantees swift disbursement of funds directly to your bank account. Loyal customers can also enjoy enhanced offers, demonstrating the platform's commitment to efficiency and customer satisfaction.

  2. Convenient Application. Online Loans Pilipinas offers a hassle-free application process, allowing users to complete everything online – from filling out the application form to receiving the cash loan in their bank account. The platform ensures a seamless experience, achievable with just a few clicks from a mobile device or computer.

  3. Transparency. Building trust with clients is a priority for Online Loans Pilipinas, and transparency is a cornerstone of this commitment. The platform provides clear and straightforward information about loan details, ensuring that borrowers are well-informed about terms and conditions.

  4. Flexible Loan Amounts. Online Loans Pilipinas caters to a range of financial needs by offering a minimum loan amount of PHP 1,000 and a maximum of PHP 30,000. For first-time borrowers, the maximum loan amount is PHP 7,000. Repeat borrowers, on the other hand, can apply for loan amounts ranging from PHP 8,000 to PHP 30,000. This flexibility in loan amounts allows users to choose an option that suits their specific requirements.

  5. Loan Term Options. Borrowers on Online Loans Pilipinas enjoy flexibility in loan duration, with terms ranging up to 30 days.

Pros and Cons

Pros

Convenient Online Application. The entire loan application process with Online Loans Pilipinas is conducted online. By downloading the app, inputting your details, providing necessary documents, and selecting your desired loan amount, OLP claims that the application can be completed in just three minutes.

No Collateral Required. Online Loans Pilipinas does not require borrowers to provide collateral. This means you can secure cash without the need to surrender an asset, simplifying the borrowing process.

Extension. One notable advantage of Online Loans Pilipinas is the provision of a 30-day extension in case of unforeseen circumstances beyond the borrower's control. This feature demonstrates a level of flexibility and understanding, acknowledging that individuals may face unexpected challenges.

Cons

Limited Loan Amounts for First-Time Borrowers. Online Loans Pilipinas offers small loan amounts to first-time borrowers. Higher loan amounts are only accessible to repeat borrowers. However, even the maximum loan amount may not be sufficient to cover larger financial needs or emergencies.

Non-Disclosure of Approval/Rejection Reasons. Online Loans Pilipinas does not disclose specific reasons for loan approval or rejection. This lack of transparency may leave some users wanting more clarity regarding the decision-making process.

Repayment Periods and Interest Rates. Borrowers should be aware of the repayment periods and interest rates associated with their loans. Failure to meet repayment deadlines may result in penalty fees.

Reliability

  1. Registration and Compliance. Online Loans Pilipinas Financing inc. is registered with the Securities and Exchange Commission (SEC) with the registration number CS201726430, CA No. 1181. This indicates that the platform operates in accordance with legal regulations. Additionally, being recognized by the National Privacy Commission (NPC) adds another layer of credibility, demonstrating a commitment to data privacy and protection.

  2. Positive Google Play Rating. The platform has received a rating of 4.4 out of 5 on Google Play for its mobile application. Positive user reviews and high ratings on app stores often indicate a satisfactory user experience and reliability. This positive feedback suggests that users are generally satisfied with the services provided by Online Loans Pilipinas.

How to Apply for an Online Loans Pilipinas Loan?

Apply for a Loan

  1. Visit the Online Loans Pilipinas Website. To initiate the loan application process, visit the official Online Loans Pilipinas website.

  2. Review the Requirements. Take a moment to familiarize yourself with the specific requirements for the loan you are interested in. These requirements may include age restrictions, proof of income, valid identification, and proof of residence.

  3. Apply for a Loan. Complete the online application form on the website, providing accurate and up-to-date information, including phone number, name, and address. Ensure that you fill out all required details to prevent any delays in the processing of your loan application.

  4. Submit Necessary Documents. After completing the online application form, gather all the necessary documents as per the provided requirements. These may include identification documents, proof of income, and residence verification.

  5. Check Eligibility Criteria. Verify that you meet all the eligibility criteria set by Online Loans Pilipinas. This could involve ensuring you are of legal age, have a stable source of income, and meet any other specific criteria mentioned by the lender.

  6. Submit Your Application. Once the online application form is completed, and all necessary documents are gathered, submit your application through the provided online platform. Double-check all information before submission to avoid errors.

  7. Wait for Approval. After submitting your application, Online Loans Pilipinas will review it and assess your eligibility based on their criteria. The approval process is typically swift, but patience is advised during this stage.

  8. Loan Approval Process. If your loan application is approved, Online Loans Pilipinas will notify you about the next steps. This may involve signing loan agreements and providing additional documentation if required.

Conditions and Requirements

Conditions

  1. Loan Amounts. For first-time applicants, amounts are PHP 1,000 to PHP 7,000. For repeat borrowers in good standing amounts are up to PHP 30,000.

  2. Loan Terms. Available terms are 7 days, 10 days, 15 days, 21 days, and 30 days.

  3. Interest Rate. 0% interest for the first loan. (Terms and conditions apply). The interest rate is 0% if you pay back on your first payment date.

  4. Approval Duration. Fast approval within 5 minutes.

Requirements

  1. Age Criteria. Between 22 to 70 years old.

  2. Employment or Income. Currently employed or with a steady income.

  3. Identification Documents. Customers should possess any of the following valid IDs: TIN (Tax Identification Number), passport, PRC (Professional Regulation Commission ID), UMID (Unified Multi-Purpose ID), SSS (Social Security System ID), driver’s license.

  4. Bank or E-Wallet Account. All customers must have a valid Bank account or E-Wallet account. Accepted E-Wallets are Gcash, Paymaya, or Grabpay.

Ways to Receive the Money

Online Loans Pilipinas disburses the amount you borrow by transferring the loan proceeds through online banking or E-wallets. This streamlined process ensures that once the online loan amount is approved, a borrower can receive money in the designated account, whether it be a traditional bank account or an electronic wallet. This method of disbursement adds convenience for borrowers, allowing them quick and direct access to the borrowed amount without the need for additional steps or intermediaries. It aligns with the platform's commitment to providing fast and accessible financial solutions to its users.

Products

Online Loans Pilipinas offers a straightforward financial solution in the form of an OLP loan. These loans designed to provide borrowers with fast cash to address various needs and emergencies. Borrowers have the flexibility to utilize the loan amount for a wide range of purposes.

The versatility of OLP loans allows borrowers to meet their immediate financial requirements, making it a practical solution for individuals facing different situations. Whether it's for daily expenses, educational needs, or unforeseen emergencies, Online Loans Pilipinas aims to provide a quick and accessible financial option to its users.

Other Loans

Reasons for Getting Rejected for a Loan

Online Loans Pilipinas does not disclose the specific reasons for either approving or disapproving a loan application. The decision-making process is not openly shared with applicants. However, if an application is rejected, individuals are encouraged to reapply after a waiting period of 7 days. This approach allows applicants to have another opportunity to submit their loan request, even if the initial application was not successful. While the exact reasons for rejection are not provided, Online Loans Pilipinas maintains an accessible and user-friendly process, allowing applicants to potentially address any issues and reapply for the loan after the specified waiting period.

How to Repay an Online Loans Pilipinas Loan?

Repay

Repaying a loan with Online Loans Pilipinas is a straightforward process, and borrowers can choose from three convenient payment options to repay the loan:

  1. Over-the-Counter. Visit a designated payment center or over-the-counter service to make your loan repayment. Ensure that you follow the provided instructions during the payment process.

  2. Online Repayment. Pay online through the platform's digital portal. Access your personal area on the Online Loans Pilipinas website to make payments online. This method is recommended for real-time posting, providing a quick and efficient way to settle your loan.

  3. E-Wallet. Utilize an electronic wallet (E-wallet) for loan repayment. Online Loans Pilipinas supports payments through E-wallets, adding a digital and convenient dimension to the repayment process.

Alternatives

JuanHand

Apply for a Loan

JuanHand offers online loans in the Philippines, providing individuals with access to up to ₱15,000 for a repayment period of up to 3 months. The lending platform stands out with competitive interest rates ranging from 9% to 12%. With a focus on simplicity and convenience, JuanHand aims to meet the short-term financial needs of borrowers through a streamlined application process and timely disbursement of funds.

JuanHand

Cashalo

Apply for a Loan

Cashalo is a prominent player in the online lending landscape in the Philippines, offering loan amounts ranging from ₱1,000 to ₱7,000 with repayment terms extending up to 90 days. Known for its accessibility, Cashalo provides borrowers with a starting interest rate of 3.95%. The platform's commitment to financial inclusion is evident in its user-friendly app, quick approval processes, and the flexibility it provides to individuals seeking smaller loan amounts for various purposes.

Cashalo

SB Finance

Apply for a Loan

SB Finance stands as a significant financial institution in the Philippines, providing substantial loan amounts ranging from ₱30,000 to ₱2 million. With flexible repayment periods spanning 2 to 48 months, borrowers can tailor their loan terms to fit their financial goals. SB Finance boasts competitive interest rates, starting at 1.2% and going up to 3.5%. This lending institution combines the strength of its parent company with a commitment to offering diverse loan products to meet the evolving needs of Filipino borrowers.

SB Finance

Online Loans Pilipinas

Apply for a Loan

Online Loans Pilipinas caters to a range of borrowing needs with initial loan amounts of ₱1,000 to ₱7,000 for first-time borrowers. Repeat borrowers can access higher loan amounts, reaching up to ₱30,000. This lending platform emphasizes a quick turnaround, with loan terms starting at 10 days. Notably, Online Loans Pilipinas distinguishes itself by not imposing any processing fees for first-time borrowers, providing an incentive for those exploring online lending options for the first time.

Online Loans Pilipinas

Editorial Opinion

Online Loans Pilipinas, as a fintech platform, provides a digital avenue for Filipinos seeking quick financial solutions. The platform's focus on online micro and consumer financing aims to cater to the diverse financial needs of users without the necessity of physical office visits or complex approval processes. The offering of loans ranging from PHP 1,000 to PHP 30,000 for both first-time and repeat borrowers underscores its commitment to providing a flexible and accessible borrowing experience.

While the platform boasts a user-friendly application process and a rapid 5-minute approval duration, it's crucial for potential borrowers to carefully consider the terms and conditions, including interest rates and repayment structures. Additionally, the decision not to disclose specific reasons for loan approval or rejection may leave some users seeking more transparency. As with any financial service, individuals are encouraged to conduct thorough research and weigh the benefits against potential drawbacks to make informed decisions aligned with their financial needs.

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

At Finanso, we've carried out a comprehensive analysis of over 50 lenders, 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.

We carefully considered the most critical factors in selecting a lender in each category. These factors include 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.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

To learn more about Online Loans Pilipinas and best practices, check out some of the following resources:

Sources

FAQ

Who owns Online Loans Pilipinas?

Online Loans Pilipinas states that it is owned by no one. Instead, it operates as a Securities and Exchange Commission (SEC)-registered financing company. The company holds the registration number CS201726430 and the CA (Certificate of Authority) number 1181, reinforcing its legitimacy as a financial entity.Online Loans Pilipinas states that it is owned by no one. Instead, it operates as a Securities and Exchange Commission (SEC)-registered financing company. The company holds the registration number CS201726430 and the CA (Certificate of Authority) number 1181, reinforcing its legitimacy as a financial entity.

What credit score do you need for Online Loans Pilipinas?

Online Loans Pilipinas does not disclose specific credit score requirements on its website. The lack of transparency regarding credit score thresholds may suggest that the platform considers a broader range of factors beyond traditional credit scores when evaluating loan applications. In lieu of a disclosed credit score requirement, individuals interested in applying for a loan through Online Loans Pilipinas are encouraged to review the platform's eligibility criteria, which include factors such as age, employment status, and documentation verification. It's advisable for potential borrowers to contact the platform directly or consult customer support for more personalized information about the application process and eligibility considerations.

What bank does Online Loans Pilipinas use?

Online Loans Pilipinas does not disclose information about the specific bank or financing companies it uses for its financial transactions. The details of the banking partnerships or arrangements are not publicly provided on the platform's website. This lack of disclosure is a common practice among financial institutions and lending platforms, as such information is typically considered proprietary and may be subject to privacy and security considerations.

Does Online Loans Pilipinas approve everyone?

Online Loans Pilipinas does not guarantee approval for all loan applicants. Like any responsible lending institution, the approval of loan applications is subject to certain criteria and considerations. While the platform may offer a quick and accessible application process, approval depends on factors such as the applicant's age, employment status, income stability, and other relevant financial information.

Is Online Loans Pilipinas a legitimate company?

You can consider Online Loans Pilipinas legit. It is a Securities and Exchange Commission (SEC)-registered financing company with the registration number CS201726430 and CA (Certificate of Authority) number 1181. This registration information indicates that Online Loans Pilipinas has undergone the necessary regulatory processes and complies with the requirements set by the SEC, reinforcing its legitimacy as a financial entity of the Philippines.

When considering the legitimacy of a financial service provider, it's crucial for individuals to verify its regulatory status and adherence to industry standards. In this case, the SEC registration provides a level of assurance regarding the company's legal standing and commitment to regulatory compliance.

Company documents

Terms and conditions
Privacy policy

We provide fast and easy service financial solutions to every Filipino’s financial needs without office visits, collateral and complex approval process or waiting in a queue.

© Online Loans Pilipinas
Financial products
Online Loans Pilipinas
Online Loans Pilipinas
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
1000.00 – 20000.00 ₱
Rate
i

Effective interest rate on the product

0.01 – 1.00 %
Term
i

Loan term for the financial product

7 days – 1 months
Similar products
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
Finbro
Personal 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.

5
Recommended FinScore™
0
300
650
1000
to 50000.00 ₱
Term
i

Loan term for the financial product

to 1 years
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
Mazilla
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 - ₱25000
Rate
i

Effective interest rate on the product

30% - 365% APR
Term
i

Loan term for the financial product

91 - 720 days
Calculate loan payments in Online Loans Pilipinas

Online Loans Pilipinas calculator will allow you to calculate an approximate payment schedule for the loan

Online Loans Pilipinas calculator
Interest rates are given in accordance with the rates of the Online Loans Pilipinas in Manila as of 22.04.2024
Loan amount
i

Enter the desired loan amount

PHP
PHP
5000 ₱
20000 ₱
Loan term
i

Specify the loan term for the calculation

days
months
7
30
City
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Online Loans Pilipinas’s reviews by april 2024
Leave feedback
Similar companies
Mr. Cash
18th Floor, The Orient Square Building Ortigas Avenue, Ortigas Center Pasig City
09159589713
PesoCash
12th Floor, Aseana Three Bldg., Macapagal Ave. cor Aseana Ave., Aseana City, Tambo, City of Paranaque, NCR, Fourth District, Philippines
MocaMoca
Online service
Pesoloan
Online service
0917 626 0130
PitaCash
Only Internet
(02) 532-25-900