12+ Legit Online 0 Interest First Loan App in Philippines (zero percent)

Legit online loan with 0 interest in Philippines might seem too good to be true. These loans offer short-term borrowing where you only pay back the principal amount without additional interest charges. Let’s dive into the reality of these loans, their eligibility criteria, and the top providers in the market.

Important Things to Consider

Before getting excited about zero-interest loans, understand these crucial points:

• Short Term, Small Amounts: These loans are typically for small sums and have very short repayment periods (often days or weeks).
• First-Time Offers: Often, the 0% interest rate is a promotional offer for new borrowers only. Subsequent loans will likely have interest.
• Hidden Fees: Watch out for processing fees, service charges, or late payment penalties that can add to the overall cost.
• Aggressive Collection Tactics: Some lenders in this space have been known to use aggressive collection methods for overdue payments.

Eligibility Requirements

Even with the promise of 0% interest, these apps have eligibility requirements:

• Philippine Citizenship: Most lenders require you to be a Filipino citizen.
• Age: Usually, you’ll need to be at least 18 or 21 years old.
• Income Verification: While less strict than traditional banks, some form of income proof may be needed.
• Valid IDs: Government-issued IDs are typically required.

Top 10 Best online 0 interest loan app Philippines (2024)

1. Digido

Digido sometimes offers zero-interest loans for first-time borrowers.

• Pros: Quick approval process, convenient online application
• Cons: Zero-interest only on the first loan, subsequent loans have standard rates

2. Crezu

Crezu occasionally offers longer-term zero-interest loans (up to a few months). This could be a potential option for 0% interest loan apps for 12 months, depending on current promotions.

• Pros: Sometimes longer zero-interest periods than competitors
• Cons: Eligibility can be stricter, loan amounts may be limited initially

3. Finbro

Finbro advertises the possibility of zero-interest online loans for qualified borrowers.

• Pros: Fast application decisions, accessible even with limited credit history
• Cons: High interest rates on regular loans, so compare thoroughly.

4. Kviku

Kviku often has zero-interest offers for new customers.

• Pros: Easy online application, quick approvals possible
• Cons: Zero-interest loans typically have very short repayment terms.

5. Cashexpress

Cashexpress sometimes offers promotions including zero-interest loans, potentially making them a resource for zero-interest loan apps aimed at students.

• Pros: Simple application process, minimal documentation in some cases
• Cons: Limited loan amounts and short repayment periods on zero-interest offers

6. Pesoclick

Pesoclick occasionally has promotions with zero-interest. Keep an eye on offers for personal zero-interest loans in the Philippines.

• Pros: Good for small urgent loans, easy online process
• Cons: Interest rates are generally high outside of promotional periods.

7. Gcash

Gcash offers GLoan and GCredit. While not always zero-interest, they might have promotional periods worth checking as a potential source of online lending apps with zero interest rates.

• Pros: Integrated into the Gcash ecosystem
• Cons: GCredit functions more like a credit line than a traditional loan.

8. Vamo

Vamo might offer promotions including zero-interest alongside standard loans.

• Pros User-friendly app interface
• Cons Zero-interest promotions may be infrequent, fees can still apply.

9. Moneycat

Moneycat sometimes has zero-interest offers for new users

• Pros Quick approvals, accessible to some with limited credit
• Cons Loan amounts might be small initially

10. Metrobank

While a traditional bank, Metrobank may feature a bank with first loan no interest for 24 months or similar offers.

• Pros: Trustworthiness of a major bank, larger loan amounts possible
• Cons: Stricter eligibility requirements than purely online lenders.