If you need to get a personal loan in the Philippines, you have several options. Look at each type of application.

1. Through Banks

The most obvious place to get a personal loan is at your own bank. If you're already a customer of a trusted bank, the chances of them granting you a loan is higher. You'll get plus points if you have good credit standing with them, too. You might even get to skip a few steps in your application for a personal loan. 

Loaning through banks in the Philippines is the most traditional way to loan money. What's good about this is you get to pay out your loan for a longer period of time (within a year or two versus just months). A lot of banks have been offering their loaning services online now, too, to keep up with the times. You might want to check out your bank’s website.

Some banks that offer online application are Security Bank, Citi Bank, and Maybank

2. Through Loan Apps

There has been an emergence of loan apps in the Philippines lately. While it looks sketchy at first, a lot of people have become frequent users of these apps and have used them to take out personal loans. It removes the hassle of personally going to the bank and lining up to apply for the loans.

How they work is that they send the cash directly into your bank account, no checks involved. Some apps handle personal loans while others extend to commercial lending (i.e. for business capital). However, loaning from loan apps also means a higher interest rate. Experts say that if it’s not for an emergency, avoid taking out loans from loan apps. But that’s entirely up to your discretion.

Some apps that offer loans are Tala Philippines, Atome Credit, and PondoPeso

BONUS: Through Government Agencies

If you pay for any SSS or Pag-Ibig memberships, you can take out loans from these agencies as well. While not necessarily done online, it should be as simple as showing up and filing some documents with the agency. They usually update their members on the status of their loans, too.