Payday Loans in the Philippines

Do you need payday loans online? With the help of Crezu it is a very easy and comfortable process to get money. With our financial platform, you will find the best available offers – save your time and finances.

Crezu Service is totally free. Just fill the application, answer some basic questions and get the offers that are suitable for you.

We found 1 loan for you!
1 Cashwagon Loans
412 reviews
  • Amount Allowed – Php2,000 up to Php20,000
  • Tenure – 30 days
  • Age Requirement – 21-60
  • Interest Rate – Starting at 1.5%
Offer Details:
  • No fee
  • First 30 days without interests
  • Flexible credit
  • Low interest
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Do You Need Payday Loans

Payday loans offer some sort of instant financial assistance in times of emergency and urgent situations. Likewise known as quick cash loans, such type of loan from online cash lenders allow individuals in the Philippines to get money faster compared to loans from banks and other financial institutions.

All it takes is a loan application and a few online requirements. Once these steps are completed, you can receive your cash in just around 24 hours.

How to Choose Payday Loans Online?

However, not all online payday loans are created equal. Therefore, you have to know how you can choose the right loan in the Philippines. Here are some pointers to help you out:

  • Check the validity of the lending institution. You can tell if a company is valid or not if they have clearly disclosed the terms and limitations of their loans, giving you a chance to understand what you’re getting into before applying.
  • Go for lenders affiliated with larger institutions. As much as possible, go for lenders that are tied to nationwide lending institutions. Don’t go for fly-by-night companies that might just be operating in a small shop just around the street corner.
  • Check if the lender has a license. Having a license means that the lender has complied with the business practices implemented in the country. You can also contact an attorney to confirm their license’s validity.
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Information on loans by cities 

You can get useful information on loans according to some large cities in Philippines here:

How Crezu Payday Loans Work?

Crezu is an online portal that seeks to help individuals who are looking for trusted and reliable lending companies to loan from. Instead of directly providing 24-hour payday loans, it has partnered with a number of trusted companies to make it easier for individuals to find the right lender where they can borrow from.

Basically, Crezu works by partnering with various trusted companies and automatically searching for the best offers in accordance with your financial needs. This is done once you have filled the application form.

How to Choose a Trusted Lending Company?

Before you apply for the credit, you have to look for a trusted lending company first. When choosing a trusted company, you have to consider the following:

  • Read through reviews. Online reviews are a great help when looking for reliable lending companies. They will help you understand how a certain institution works, its interest rates, and its overall feedback from its clients.
  • Check for any hidden fees. Whenever possible, check if a company will charge you with hidden fees or not. The last thing you want is ended up getting broke due to predatory interest rates and fees you’re not even aware of.

Fortunately, these are all taken care of with Crezu by making it a lot easier for you to search for companies to borrow cash from. Also, since Crezu partners with trusted brands, you don’t have to worry about any hidden fees or extremely high interest rates.

What are the Processes Required to Get a Payday Loan?

A payday loan is designed as a convenient way of getting fast loans for those in need. As such, the processes involved aren’t that complicated compared to traditional lending applications on banks and other major financial institutions. They’re as follows:

  • Gather all the necessary information. These include your proof of income, personal identification such as IDs and a driver’s license, and other financial identification. Even though payday loans won’t necessarily perform any credit checks, they will likely request for your proof of identity.
  • For online loans, you are required to fill up an application form. You also want to secure a checking account, though some are fine with just a savings account.
  • Once you have submitted your application, you simply have to wait for the approval.
  • After your application is approved, the borrowed money is then transferred to your bank account. This process normally takes around 24 hours or less.

The Advantages of Payday Loans

Payday loans are known to provide quick cash in times of emergency or situations that demand urgent financial assistance. Aside from that, there are a number of advantages that you can enjoy when you apply for a loan. They’re as follows:

Same-Day Processing

One of the best things about 24 hour payday loans in Philippines is that you can expect to receive your borrowed money in just a day! This is a lot faster compared to traditional lending institutions which typically take a few days or even weeks to review and approve your application. There’s also no guarantee that your application will be approved, and once it does, it will take a few more days to transfer the funds.

With payday loans, you can receive a notice if your application was approved or not in just an hour or two! As long as you provide all the necessary information, a lender will provide you with credit within the same day. Apart from that, there’s no need to fill lengthy forms which is a common practice among conventional loans.

No Credit Check Required

With online credit, you can receive the financial assistance you need despite a poor credit rating. This is because this type of loan doesn’t require any credit checks at all!

Aside from that, they’re also beneficial since they can help you protect your credit rating. When you apply for a loan that involves installments, you’ll have a year or two to repay your loan. During this timeframe, a lot of things could happen, such as you losing your job or falling sick before you can complete the repayment.

However, with an online credit, there are no collaterals and credit checks necessary. You can borrow funds as long as you can repay the loan on your next salary.

Few Requirements

Applying for instant payday loans online is fairly easy since you only have to comply with a few basic requirements, one of which is your proof of income. As long as it’s verifiable and consistent, you shouldn’t have any worries about getting your application approved.

Also, as mentioned in the previous section, there are no collaterals needed. Keep in mind, however, that some lenders might require additional proof of identification, so you might want to have them ready as well. These could include the following:

  • Identification cards
  • Driver’s license
  • Financial identification such as proof of billing

Aside from that, you should also:

  • Be of legal age (21 to 60 years old)
  • Be a citizen of the Philippines
  • Have a verifiable source of income


Last but not least is convenience. Since payday loans online only require you to send your application through the internet, there’s no longer a need to visit a physical lending institution just to borrow funds. Furthermore, once you’re approved, the money will be sent to your bank account, allowing you to withdraw it conveniently.

Things to Take into Account Before Applying for a Loan

Before you even consider applying for loan, there are a few things you should take into account first.

Let’s take a look at what they are:

Think About How Much Money You Really Need

If you plan to apply for a payday loan in the Philippines, then you should first calculate the amount of money you really need. This will serve as your first big step to determine if applying for credit is the right choice or not.

But what exactly makes it important?

Well, it’s due to the fact that the interests for limited-time loans can quickly add up if you ended up borrowing more than what you really need. Any extra cash you borrow will just push up the interest rate you have to pay back during your payday.

There are some online lenders that allow individuals to top up their loan. However, they generally require their borrowers to pay off at least 50% of the existing loan before they can apply for another.

Only Borrow Money You Can Afford to Pay in Your Next payment

Each institution that offers fast loans has its own limit to how much money you can borrow. After you have calculated how much money you really need, the next thing to consider is how much you can afford to repay on your next payment.

For example, if you want to borrow PHP 15,000 with a one-month repayment term, it would leave you with just a few thousands of cash during your upcoming payday. Therefore, you’d want to avoid that amount even if it’s offered to you.

Instead, what you want is to ask the loan provider if there are other repayment options to choose from, such as splitting the repayment into a two-month period with a monthly repayment of only PHP 7,500. However, do keep in mind that the longer the repayment term, the higher the interest will be.

They’re Only Meant for Emergency Situations

As much as possible, you don’t want to depend on cash now payday loans just because you want to buy an item that’s on sale. Although nothing’s really stopping you from spending the borrowed money on whatever you want, you have to keep in mind that they’re only intended for those who are facing urgent financial crisis and emergency.

The reason is because as mentioned earlier, limited-loans naturally have higher interest rates compared to conventional ones. Aside from that, you could end up paying more than what you’re supposed to if you default on your loan. If this happens, you’ll have to pay for the defaulting fee and other penalties.

Make Sure to Read the Terms and Conditions

Before you apply for payday loans, make sure you read the Terms and Conditions first. Each licensed lender in the Philippines are licensed by the Securities and Exchange Commission (SEC), and as such, they are required to follow a broad set of rules that the SEC has implemented.

Also, each of them has their own set of Terms and Conditions, and it’s really important to thoroughly read those terms so you won’t have to deal with issues later on.

Just keep in mind that you are NOT obliged to accept any loan offer that’s offered to you by a lending company. However, before you accept it, do read the terms and conditions first.

There are Penalties You Might Incur if You Fail to Pay

One reason that explains why reading the Terms and Conditions before you apply for payday loans online Philippines is because you could end up missing important information regarding the fees and penalties you might incur.

Such penalties normally happen if you fail to repay the money you borrowed. In general, your lender will charge you a default fee depending on what’s specified in their Terms and Conditions. However, you can request your lender for an extension, and if both of you have come to an agreement, you have to make sure to repay the borrowed money.

Failure to do so for the next time will cause you to be defaulted permanently. As a result, your credit score will suffer, thereby making it a lot harder for you to borrow money from other lenders.

Final Thoughts

The existence of 24 hour payday loan is definitely a lifesaver for most Filipinos. The fact that the average Filipino’s income isn’t enough to fully support his financial needs in cases of emergency, having a means of receiving cash assistance during urgent situations is quite convenient.

As someone who’s planning to apply for loans, here’s a summary of the things you should always remember:

  • Lenders can approve your application and provide cash assistance in less than 24 hours
  • There are no credit checks necessary, but having a good credit score can be an advantage
  • They’re only meant to be for temporary and emergency situations due to their higher interest rates
  • Make sure you have your proof of income and other proof of identity to get approved
  • Always read the Terms and Conditions prior to applying
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