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An online loan is a short-term cash advance without visiting a branch in Legazpi. Loan amounts vary by lender, with terms from 7 to 30 days. Disbursement via bank transfer or GCash/Maya within minutes of approval
We are not a lending company. Our service helps you find the best loan options in one place.
Many lenders do not require a high credit score. First-time borrowers are welcome.
Each company has its own rates. The SEC regulates lending companies in the Philippines. Always check the total cost of the loan.
First loan is often free (0% interest). This is a common promotion for new borrowers.
Here's what to expect when getting an online loan in the Philippines:
| Loan lending status in the Philippines: | Legal |
|---|---|
| Maximum loan amount: | No legal maximum loan amount. The specific rate caps above apply to unsecured general-purpose loans of PHP 10,000 or less with a term of 4 months or less. |
| Rate cap (loans up to PHP 10,000, term up to 4 months): | For loans made, renewed or restructured from 1 Apr 2026: nominal interest capped at 6%/month (~0.2%/day); effective rate (including all fees, excluding late penalties) capped at 12%/month (~0.4%/day). Before that date the effective-rate cap was 15%/month under BSP Circular 1133. |
| Minimum loan term: | No statutory minimum |
| Maximum loan term: | The capped-rate regime covers terms up to 4 months; no statutory min/max term beyond that |
| Rollovers/renewals: | Allowed. Renewed and restructured loans still fall under the same rate caps - lenders cannot use restructuring to bypass them. |
| Simultaneous loans allowed: | Not confirmed, needs direct verification |
| Cooling-off period: | Not confirmed, needs direct verification |
| Finance charges: | Total cost cap: interest + fees + penalties combined cannot exceed 100% of the principal, however long the loan is outstanding |
| Collection charges/rules: | Late penalties capped at 5%/month of the overdue amount. Collectors may not contact you before 6am or after 10pm (unless more than 15 days overdue or you consent), may not contact people in your phone contacts other than guarantors/co-makers, and may not threaten, insult or publicly shame you. |
| Regulator: | Securities and Exchange Commission (SEC) - lending and financing companies; Bangko Sentral ng Pilipinas (BSP) - rate-ceiling authority and BSP-supervised lenders |
Data updated: September 2026.
MaybeLoan is not a lender - we connect you with a licensed lender online or help you find one near you, and you decide.
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