Salary loans are a popular financial solution for Filipinos needing immediate cash to cover various expenses such as bills, tuition fees, medical emergencies, or other urgent needs. These loans are designed for employed individuals, offering quick approval, flexible repayment terms, and relatively low interest rates compared to other forms of credit.
In this guide, we’ll explore the top 10 salary loans in the Philippines, arranged alphabetically for easy reference. We’ve also included key details about each lender, including loan amounts, interest rates, and application requirements, so you can make an informed choice.
What Are Salary Loans?
Salary loans, often referred to as personal loans, are unsecured loans granted to employed individuals based on their monthly income. Unlike collateral-based loans, these loans don’t require assets to secure the loan. The approval process is typically straightforward, with the loan amount and repayment terms determined by your salary and creditworthiness.
Why Choose Salary Loans?
Salary loans are ideal for individuals who:
- Need quick access to funds.
- Have stable employment but no collateral to offer.
- Require flexible repayment terms tailored to their income.
- Want a simpler application process compared to traditional bank loans.
With these benefits in mind, here are the top 10 salary loans in the Philippines.
Top 10 Salary Loans
Below is a comprehensive table listing the top salary loan providers in the Philippines, arranged alphabetically for your convenience:
| Loan Provider | Loan Amount | Interest Rate | Repayment Term | Key Features |
| Asialink Finance | ₱5,000 – ₱2,000,000 | Starts at 1.39% monthly | Up to 36 months | Minimal requirements and fast approval |
| BPI Personal Loan | ₱20,000 – ₱2,000,000 | 14.40% annual | 12 to 36 months | Flexible payment terms and trusted bank |
| CIMB Bank Personal Loan | ₱30,000 – ₱1,000,000 | 1.12% monthly | 12 to 60 months | No collateral needed and all-digital process |
| Citibank Personal Loan | ₱100,000 – ₱2,000,000 | Starts at 26.9% annual | 12 to 60 months | High loan limits and quick approval |
| EastWest Bank Personal Loan | ₱25,000 – ₱2,000,000 | 1.49% monthly | Up to 36 months | Straightforward application for employed individuals |
| Maybank Personal Loan | ₱50,000 – ₱1,000,000 | 1.3% monthly | 12 to 36 months | Low interest rates and flexible terms |
| RFC Salary Loan | ₱10,000 – ₱150,000 | Starts at 1.50% monthly | Up to 24 months | Suitable for first-time borrowers |
| SB Finance Personal Loan | ₱30,000 – ₱2,000,000 | Starts at 1.49% monthly | Up to 36 months | Offers multiple loan options for salaried employees |
| Security Bank Personal Loan | ₱30,000 – ₱2,000,000 | 14.78% annual | 12 to 36 months | Low annual interest rates and fast processing |
| Tonik Bank Flex Loan | ₱20,000 – ₱250,000 | Starts at 1.69% monthly | 6 to 24 months | Fully digital process and fast loan disbursement |
Details of the Top Salary Loans
Here’s a closer look at each loan provider, including their unique features and requirements:
Asialink Finance
- Loan Amount: ₱5,000 to ₱2,000,000
- Interest Rate: Starts at 1.39% monthly
- Repayment Term: Up to 36 months
- Features: Asialink Finance offers quick loan approvals with minimal requirements, making it suitable for borrowers who need funds urgently.
BPI Personal Loan
- Loan Amount: ₱20,000 to ₱2,000,000
- Interest Rate: 14.40% annual
- Repayment Term: 12 to 36 months
- Features: As one of the country’s leading banks, BPI provides reliable and flexible salary loans for employees with stable incomes.
CIMB Bank Personal Loan
- Loan Amount: ₱30,000 to ₱1,000,000
- Interest Rate: 1.12% monthly
- Repayment Term: 12 to 60 months
- Features: CIMB Bank’s personal loan is fully digital, offering convenience and fast processing without the need for collateral.
Citibank Personal Loan
- Loan Amount: ₱100,000 to ₱2,000,000
- Interest Rate: Starts at 26.9% annual
- Repayment Term: 12 to 60 months
- Features: Citibank provides high loan limits and fast approval, ideal for borrowers with substantial financial needs.
EastWest Bank Personal Loan
- Loan Amount: ₱25,000 to ₱2,000,000
- Interest Rate: 1.49% monthly
- Repayment Term: Up to 36 months
- Features: EastWest Bank offers a straightforward loan process with competitive interest rates for employed individuals.
Maybank Personal Loan
- Loan Amount: ₱50,000 to ₱1,000,000
- Interest Rate: 1.3% monthly
- Repayment Term: 12 to 36 months
- Features: Known for its customer-friendly terms, Maybank’s personal loan is a great option for those looking for low interest rates.
RFC Salary Loan
- Loan Amount: ₱10,000 to ₱150,000
- Interest Rate: Starts at 1.50% monthly
- Repayment Term: Up to 24 months
- Features: RFC is ideal for first-time borrowers due to its accessible loan amounts and simple requirements.
SB Finance Personal Loan
- Loan Amount: ₱30,000 to ₱2,000,000
- Interest Rate: Starts at 1.49% monthly
- Repayment Term: Up to 36 months
- Features: SB Finance offers various loan options catering specifically to salaried employees.
Security Bank Personal Loan
- Loan Amount: ₱30,000 to ₱2,000,000
- Interest Rate: 14.78% annual
- Repayment Term: 12 to 36 months
- Features: Security Bank’s salary loan provides competitive rates with fast processing times, making it a dependable option.
Tonik Bank Flex Loan
- Loan Amount: ₱20,000 to ₱250,000
- Interest Rate: Starts at 1.69% monthly
- Repayment Term: 6 to 24 months
- Features: Tonik Bank offers a fully digital loan application process, with funds disbursed quickly after approval.
How to Choose the Best Salary Loan
When selecting a salary loan, consider the following factors:
- Loan Amount and Interest Rates: Compare loan amounts and interest rates to find the most affordable option.
- Repayment Terms: Ensure the repayment period aligns with your financial capacity.
- Application Process: Look for lenders with simple and quick application processes.
- Reputation: Choose lenders with positive reviews and reliable customer service.
Recap…
Salary loans are a practical solution for employees who need quick access to funds. By carefully comparing the top loan providers in the Philippines, you can select the one that best meets your needs. With competitive rates, flexible terms, and fast approvals, these loans are a lifeline for many Filipinos navigating financial challenges.
Always borrow responsibly by assessing your repayment capacity and understanding the terms of the loan.
