Where Can I Loan Money Online In Philippines Without Bank? (2024)

Here are some options for where you can loan money without a bank account in the Philippines:

Fintech Lending Companies

• Tala: Tala is one of the most popular options, offering quick loans with minimal requirements. They accept various forms of alternative I.D.
• Cashalo: Offers similar small, short-term loans with a streamlined application process.
• Atome: While Atome is mainly known for its buy-now-pay-later services, they also offer cash loans.

P2P Lending Platforms

• BlendPH: This peer-to-peer platform connects borrowers with investors. You may find lenders more flexible with credit requirements than traditional banks.
• SeedIn: Another option for P2P lending, potentially offering better rates compared to fintech lenders.

Salary Loan Apps

• Robocash: Provides loans specifically tailored to salaried employees, with repayments being deducted directly from your future salary.
• Cashtrees: A similar platform offering salary-linked loans with streamlined processes.

Other Options

• Pawn Shops with Online Services: Some traditional pawnshops allow you to apply online and use valuable items as collateral, making it easier to get a loan without a bank account.
• Cooperatives: If you’re a member of a cooperative, they may offer loan programs with less stringent requirements than banks.

Important Reminders:

• High-Interest Rates: Options without bank accounts often come with higher interest rates. Carefully compare terms and the total cost of borrowing before accepting a loan.
• Build a Banking Relationship: Consider opening a simple bank account in the future. This can make managing your finances easier and might open up access to more traditional and likely cheaper loan options.
• Responsible Borrowing: Always borrow only what you absolutely need and are confident you can repay within the agreed terms.

How to Receive Loan Funds Without a Bank Account:

• Mobile Wallets (GCash, PayMaya): Many lenders can disburse funds directly to your mobile wallet for easy access.
• Cash Remittance Centers: Some lenders partner with centers like Cebuana Lhuillier or Palawan Express, allowing you to collect your loan in cash.