Credit Loans

Bad Credit Loans

Where to get a loan with a bad credit history? Many people ask this question. Loan history is a dossier containing information about all loans of a citizen, including the maturity of debts. When a client contacts a bank, it is his credit history that allows the financial company to determine the possibility of issuing bad credit loans and their size.



  • Loan amount 1.000 - 50.000 PHP
  • Interest rate 1% per day
  • Term 91 — 365 days


  • Loan amount 1.000 - 12.000 PHP
  • Interest rate 0.2% per day
  • Term 7 — 28 days


  • Loan amount 1.000 - 25.000 PHP
  • Interest rate 0,49% per day
  • Term 30 - 180 days


  • Loan amount 2.000 - 20.000 PHP
  • Interest rate 0% per day
  • Term 10 - 180 days


  • Loan amount 3.000 - 10.000 PHP
  • Interest rate 0,65% per day
  • Term 5 - 30 days


  • Loan amount 3.600 - 10.000 PHP
  • Interest rate 0,03% per day
  • Term 91 - 360 days


  • Loan amount 1.000 - 25.000 PHP
  • Interest rate 0,43% - 0,5% per day
  • Term 1 - 61 days
  • Loan amount 2.000 - 20.000 PHP
  • Interest rate 1 per day
  • Term 7 - 30 days


  • Loan amount 25.000 - 240.000 PHP
  • Interest rate
  • Term 30 — 1080 days


  • Loan amount 1.000 - 15.000 PHP
  • Interest rate 0.03% per day
  • Term 91 — 360 days


  • Loan amount 1.000 - 12.000 PHP
  • Interest rate 0.04% per day
  • Term 90 — 180 days


  • Loan amount 1.000 - 10.000 PHP
  • Interest rate 1% per day
  • Term 7 — 91 days


  • Loan amount 2.000 - 20.000 PHP
  • Interest rate 0,8% per day
  • Term 61 - 90 days


  • Loan amount 2.000 - 12.000 PHP
  • Interest rate 0.08% per day
  • Term 91 — 120 days


  • Loan amount 10.000 - 2.000.000 PHP
  • Interest rate 0.26% per day
  • Term 30 — 1095 days

Bad Credit History: What is it?

Such a history speaks of the unfair fulfillment of financial obligations by a certain citizen. Simply put, the person has been late one time or more. It appears not only among people with loan delinquencies or unpaid loans.

Bad history indicators:

  • unpaid loans
  • late payments;
  • a large amount of overdue loans.

Is it Possible to Take out a Loan with a Bad Credit History?

It is not uncommon for borrowers, due to circumstances beyond their control, to be unable to repay debt obligations. They have a bad credit history and it is almost impossible to take a new loan from the bank. What to do in such a situation?

Let’s take a closer look at the options for no credit check loans guaranteed approval Philippines. And also, in the review we will tell you about the ways to improve your rating in the database of credit histories. After reading the review, you can gradually raise your rating and get a new personal loan with a low interest rate in the Philippines on favorable terms.

Why don’t Banks Give Money with Bad Credit History?

Banks do not give loans for people with bad credit because they calculate their risks and try to minimize them. Using the analysis of the borrower’s credit history, the loan officer can draw up a psychological portrait of the client. Thus, the financial institution determines the reliability of the citizen and decides whether to conclude an agreement with him.

Can a Bad Credit History Get in the Way of Taking Credit?

Impact of a bad credit history on the ability to get a credit:

  • Delays up to 5 days in the amount of 2-3 allow you to take a second loan on a general basis without any problems.
  • A debt of up to a month, especially not one, will force the bank to require a surety or additional security. The interest rate may rise.
  • Lack of payments for more than a month is a risk that the bank will certainly include in the cost of the loan.
  • Unliquidated obligations lead to refusal to re-lend from a regular bank.

In this case, the borrower can contact the MFO. They often help people borrow money with a bad credit history without having income certificates and guarantors.

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Pros and Cons of Loans for Bad Credit Philippines

Before determining the pros and cons of loans for people with poor credit, let’s find out the reasons for the drop in the borrower’s rating:

  • Delay. This is the most common way to get negative status. Banks send data in case of a 5-7-day delay from the moment of its formation. And the longer the client does not pay, the more aggravated his situation is. The reasons for the formation of delays can be the financial illiteracy of the borrower or unforeseen circumstances (redundancy at work, delay in the payment of wages, etc.).
  • Numerous and frequent applications for a loan without further registration. When a client submits a questionnaire, the bank makes a request to the credit history database. A note appears in the dossier about this, and if there are many of them, even a commercial organization may refuse to issue a loan.
  • Litigation. If you had a lawsuit with the bank, then information about this will certainly appear in the dossier. Banks value their reputation and try to avoid “scandalous” borrowers
  • A surety. If a citizen for whom you vouched for a financial institution has made a delay, then a corresponding mark will automatically appear in your history, reducing the overall rating.

If the client does not know how to calculate his financial capabilities, then he gradually collects loans and ends up in a debt trap. In this case, the presence of a negative rating can be attributed to positive aspects. Such a citizen will no longer be able to get a loan and, therefore, will not aggravate his situation, and will also learn to live within his means.

The disadvantages include the fact that with a bad credit history, it will be extremely problematic to draw up a new loan agreement. This is especially important when money is needed urgently, for example, for treatment. But still, there is a way out of the situation.

Who can Take Out Easy Loans for Bad Credit Philippines?

In order to take a loan with an existing bad credit history, it is necessary to meet the requirements of a microfinance service for borrowers:

  • Have the Philippines citizenship;
  • Be at the active age of 18 years and not more than 60;
  • Submit data on the following documents: a valid National Identity Card (ID);
  • The borrower must have a regular income, a valid bank account, and an active mobile phone number.

Different credit institutions may have different requirements and demands for the package of documents.

How to Repay a Loan?

When obtaining an online loan, it will not be difficult to return it since microfinance organizations offer several options:

  • in the MFO’s personal account using bank card details;
  • at any cash desk of a bank;
  • through self-service devices of banks;
  • at the office of the microfinance company, if it has one.

What to Look for when Choosing an MFO?

There are many microfinance organizations in the financial market of the Philippines today and, accordingly, the options for proposals. Before concluding an agreement with the selected MFO, you need to pay attention to the following aspects:

  • Availability of a license or сertificate for the right to conduct financial activities on the territory of the country;
  • Carefully study the loan agreement before agreeing with its terms. Please note that the rate is indicated per day.
  • Study customer reviews on different resources. Remember that negative reviews are often written by those who are overdue. Therefore, read carefully the stories of borrowers and try to get a general idea of ​​the organization.

Most microcredit companies in the Philippines are ready to cooperate with clients with poor credit history. You just need to choose an MFO, decide on the amount of the loan, and the maturity date. Fill out the application and wait for its approval. Usually, the whole process takes no more than 15-20 minutes, since the questionnaire is submitted online and the check is carried out automatically. The money is transferred to the card and can be used immediately.

TOP 7 Bad Credit Loans May 2024
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