15 Non-Collateral Personal Loans With Low Interest Rates in the Philippines

Numerous personal loans are available in many financial institutions in the country. However, not all of them may be ideal for the average Juan’s needs and capabilities. Some may charge high interest rates, while others may demand collateral. Ordinary Filipinos need non-collateral personal loans with low interest rates in the Philippines, not those.

We’ve compiled a list of the best 15 personal loans without collateral and with low interest rates. Take a look at each loan’s features, how much you can borrow, and what these loans require from potential borrowers.

Security Bank Personal Loan

The Security Bank personal loan features a low annual percentage rate of 37.53% for a loan that matures within 36 months. Borrowers can choose to settle their obligation between 12 and 36 months. As for borrowing amounts, they can borrow a minimum of PHP30,000. Depending on the bank’s credit assessment results, they could loan up to PHP2 million.

This non-collateral personal loan with low interest rate in the Philippines is multi-purpose financing. This means that they can use the loan for several purposes. They could use the loan for home improvement or finance the equity of their real estate properties. The money can also sustain their children’s education or fund the family’s travel plans. Lastly, they could apply for a loan in a financial emergency.

To apply for the loan, they will need to present any of the following documentary requirements:

• 1 valid government-issued ID with a photograph
• Proof of income, including income tax returns and most recent 30-day payslips
• Financial statements and proof of business (for self-employed)
• Business registration and permits

Applicants must produce digital copies of their documents and attach them after completing the application form on the bank’s website. Afterward, they’ll need to wait for the bank’s representative to call and process the loan, which may require the submission of additional documents.

Sample Computation
Loan Amount	12 months	18 months	24 months	36 months
PHP100,000	PHP10,220	PHP7,450	PHP6,060	PHP4,670

CTBC Salary Stretch Loan

The CTBC Salary Stretch Loan provides short-term financial assistance between paychecks to employees and self-employed individuals. This multi-purpose loan requires no collateral, even for applicants with a business instead of a fixed salary.

To apply, employees must earn at least PHP10,000 per month before deductions and have at least 1-year company tenure. The office must have a fixed landline for verification. On the other hand, entrepreneurs who apply for this loan must be in business for at least three years and own a credit card. They must also earn at least PHP10,000 per month from their enterprise.

The CTBC Salary Stretch Loan offers at least PHP20,000 and up to PHP1 million in financing that can be repaid through 12-month, 18-month, 24-month, and 36-month terms. Since this is a multi-purpose loan, there’s no limit to how borrowers can use the money. They can use it for travel, tuition payments, home renovation, and debt resettlement.

The application process is very straightforward. Applicants must download and fill out the application form and proceed to the nearest CTBC branch. The bank will require various documents, including:

• Company ID from the employer
• Latest Income Tax Return
• Most recent 30-day payslip
• Photocopies of utility bills and 1 valid government-issued ID
• Business financial statements
• 6-month bank statements
• Bank certificate
• DTI certificate of registration

Approved applicants can have their funds disbursed to their bank accounts through a Manager’s Check or as cash over the counter at a CTBC bank. Repayments can be made through BancNet ATMs, ECPay-accredited merchants, UnionBank and CTBC branches, or online banking for CTBC clients.

Sample Computation
Loan Amount	12 months	18 months	24 months	36 months
PHP20,000	PHP1,944.67-PHP2,024.67	PHP1,389.11-PHP1,469.11	PHP1,111.33-PHP1,191.33	PHP833.56-PHP913.56

Maybank Personal Loan

This non-collateral personal loan with a low interest rate in the Philippines derives its edge against its competitors from its affordable add-on monthly rate. Maybank charges only a 1.3% interest rate per month on its loan, one of the lowest rates on the market.

However, Maybank provides a lower maximum loanable amount than Security Bank. While eligible borrowers can borrow up to PHP2 million with SB’s personal loan, Maybank borrowers can only loan up to PHP1 million.

The loan is open to Filipinos at least 23 years old. Individuals should be no more than 65 years old when the financing ends, which is at most 36 months. Applicants must be employed or self-employed with the requisite documents to prove their income sources. Their work or business must also be covered by Maybank’s service regions.

Employees who plan to apply for a loan must produce proof of income of at least PHP25,000 and have worked with their employer for at least 2 years. On the other hand, self-employed applicants must earn an average of PHP200,000 per month from their SEC or DTI-registered businesses, which must be operating for at least 3 years. In addition, they must demonstrate sustained profits for at least 24 months.

Successful applicants must pay credit life insurance, a documentary stamp tax, and processing fees. All of these will be deducted from their loan proceeds.

They can apply for the loan online through the Maybank Personal Loan page. They should also prepare copies of the following documents:

• 2 valid IDs with signatures
• Most recent billing statement that indicates the applicant’s address
• Most recent payslip
• Certificate of employment, original copy
• Income tax returns
• Bank statements (for self-employed)
• Audited financial statements
• Proof of government registration

Bank of the Philippine Islands Personal Loan

The Bank of the Philippine Islands is one of the country’s oldest and largest commercial banks. Including its personal loan offering in this list of non-collateral personal loans with low interest rates in the Philippines is only fitting.

With BPI’s regular Personal Loan, clients can avail up to PHP2 million in financing. However, the maximum amount each Filipino can borrow depends on their monthly salary. The loan matures after at most 36 months. This loan is multi-purpose, meaning borrowers can seek funds for whatever purpose they have in mind.

Another personal loan from BPI is the Seafarer Loan, a facility designed specifically for Filipino mariners. Like the regular Personal Loan, the Seafarer Loan can be used for any purpose, including their children’s education, business startup, and travel. There’s no ceiling for this facility’s maximum loanable amount; seamen can borrow the equivalent of their work contract minus one month.

Lastly, employees of BPI’s partner organizations can borrow money through a special salary loan program. They can borrow up to PHP1 million through an expedited process that requires minimal documents. The loan is payable for up to 36 months in installments with a low monthly add-on interest rate.

One of the distinct benefits of BPI’s personal loans is the Auto Debit Arrangement. The bank automatically deducts the amount you owe monthly from your BPI account. However, it also means that borrowers must open an account with the bank when they qualify for a loan.

Sample Computation (Regular Loan)
Loan Amount	12 months	18 months	24 months	30 months	36 months
PHP100,000	PHP9,533	PHP6,756	PHP5,366.67	PHP4,533.33	PHP3,977.78

Loan Amount	2 months	3 months	4 months	5 months	6 months
PHP100,000	PHP 51,500.00	PHP 34,833.33	PHP 26,500.00	PHP 21,500.00	PHP 18,166.67
7 months	8 months	9 months	10 months	11 months
PHP 15,785.71	PHP 15,785.71	PHP 12,611.11	PHP 11,500.00	PHP 10,590.91

Citi Personal Loan

The Citi Personal Loan is offered by Citibank, the Philippines’ 12th largest commercial bank, with total assets of PHP363.72 million as of March 31, 2022.

Citibank takes pride in giving its clients “maximum benefits” when they apply for a loan. The bank has one of the fastest approval processes among other non-collateral personal loans with low interest rates in the Philippines. Clients can receive feedback on their application as fast as 24 hours after submitting their requirements.

The bank also offers one of the most extended repayment terms in the industry. Successful applicants can repay their obligations in installments of up to 5 years or 60 months. As for loanable amounts, they can borrow up to PHP2 million. The minimum amount available is PHP100,000.

Like the other non-collateral personal loans mentioned above, the Citi Personal Loan can be utilized for various purposes. The funds can be used to purchase supplies for home renovation, settle their children’s tuition fees, or repay debt. They can also be infused into a business as additional capital for expansion.

Citibank does not require borrowers to open a savings account for loan disbursement. The bank forwards the money to the client’s nominated bank account or sends them a Manager’s Check. As for repayment, the institution requires the issuance of post-dated checks up until the borrower’s last amortization date.

Sample Computation
Loan Amount	12 months	24 months	36 months	48 months	60 months
PHP100,000	PHP9,793.04	PHP5,637.71	PHP4,294.60	PHP3,653.13	PHP3,290.84

China Bank Savings Easi-Funds Personal Loan

The Easi-Funds Personal Loan is an offering by China Banking Corporation’s subsidiary, China Bank Savings. The loan product features a quick and convenient application process that potential borrowers can fill out through the loan’s product page on the CBS website.

All potential borrowers must fill out the borrower information form and submit the data to the bank’s server. The form is comprehensive. It covers the borrower’s personal and employment information and similar data from their spouse if married. They will also need to provide information about their children/dependents. Finally, they need to select their loan amount, term length, and disbursement process and specify their purpose for the funds.

This non-collateral personal loan can finance up to PHP1 million. Clients can open an account with China Bank Savings or have a Manager’s Check delivered to their billing address if their application is approved. The latter option requires 3 days to clear.

Like all personal loans in this list, the Easi-Funds Personal Loan can be utilized for various purposes. Borrowers can purchase real estate, fund their travel plans, renovate their homes, or fund the equity of their brand-new property. The loan can also settle debt or emergency expenses. The borrower can use the money for one or more of these purposes.

Sample Computation
Loan Amount	12 months	18 months	24 months	36 months
PHP100,000	PHP9,883	PHP7,206	PHP5,817	PHP4,528

EastWest Personal Loan

The EastWest Personal Loan gives Filipinos quick financing of up to PHP2 million, with competitive interest rates and up to 36 months of installment available. Best of all, the applicant does not need to pledge an asset for collateral, nor would they need to find a co-maker.

Any Filipino between 21 and 65 years old can apply for this non-collateral, low interest loan, whether or not they have a credit card. The bank only requires a minimum gross income of PHP15,000 or PHP180,000 per annum. They must also have a landline and a mobile number in their residence or business. However, applicants with a credit card that they have kept for at least 12 months can qualify for lower effective rates as a perk.

The East West Personal Loan is also available for foreign nationals in the Philippines. They only need to present proof of income and residence. These documents include their Alien Certificate of Registration, Immigrant Certificate of Registration, and passport with a Resident Visa stamp.

Interested individuals must fill out an application form on the bank’s official website to apply for the loan. They must also scan digital copies of their documents, which they will attach when submitting the form. After this step, the bank’s representative will contact them regarding their application within 5 to 7 business days.

Sample Computation
Loan Amount	12 months	18 months	24 months	36 months
PHP100,000	PHP10,223	PHP7,446	PHP6,057	PHP4,668

Metrobank Personal Loan

With Metrobank Personal Loan, Filipinos will now find it easy to obtain financing when in a pinch. This loan instrument has one of the most straightforward application processes for non-collateral personal loans with low interest rates in the Philippines. The loan also offers one of the most competitive add-on rates in the market.

Individuals seeking to apply for a loan only need to visit the official Metrobank website and fill out the online application form. They must have their valid government ID ready to attach to the form. They must also fill out a Signed Promissory Note and Disclosure Statement. Once the form and the required documents are ready, clients can submit their applications and wait for the bank’s call.

Like the East West Personal Loan, Metrobank processes loan requests within 7 business days. Once the application is approved, the borrowers can use the proceeds for various purposes, including travel, big-ticket shopping, wedding expenses, children’s education, and home renovation. The money could also help in sudden emergencies in the family or business.

Qualified customers can borrow up to PHP1 million, depending on the bank’s credit assessment results. They can choose from four term lengths: 12, 18, 24, and 36 months. Lastly, Metrobank offers affordable monthly add-on rates, starting at 1.25% for 24-month and 36-month loans.

Sample Computation
Loan Amount	12 months	18 months	24 months	36 months
PHP100,000	PHP9,833.33	PHP7,055.56	PHP5,416.67	PHP4,027.78

RCBC Personal Loans

RCBC’s personal loans provide much-needed financial assistance to employed and self-employed Filipinos without subjecting them to expensive interest rates and the need for collateral. It also offers them repayment flexibility, so the debt is always within their capacity to settle.

Employed individuals must have a minimum monthly income of PHP30,000. They must have worked with an SEC-registered firm for at least 2 years. On the other hand, self-employed individuals must earn at least PHP100,000 per month and have been in business for at least 3 years. Lastly, RCBC requires either a mobile number or a landline number for verification from the applicants.

RCBC extends at least PHP50,000 and, at most, PHP1 million in financing to qualified borrowers, who can choose to pay off the loan within a maximum of 36 months. The interest rate starts at 1.3% but may change according to the bank’s credit assessment.

RCBC does not allow online applications. This means Filipinos looking for non-collateral personal loans with low interest rates in the Philippines must visit their nearest branch to apply. Aside from filling out an application, they must also submit copies of their proofs of income and employment or business registration papers. The loan officer will also require a copy of their recent utility bill and 2 valid government IDs.

Sample Computation
Loan Amount	6 months	12 months	24 months	36 months
PHP100,000	PHP17,966.67	PHP9,633.33	PHP5,466.67	PHP4,077.78

BDO Personal Loan

The BDO Personal Loan extends financial assistance of up to PHP1 million that qualified Filipinos can use for various purposes. With this loan, the average Juan can work on getting closer to their dreams without being bothered by high-interest payments and ‘impossible’ repayment durations.

The personal loan comes with 5 term length options: 6- month, 12-month, 18-month, 24-month, and 36-month terms. Those who settle their loans early can pick the terms between 6 and 18 months. On the other hand, borrowers who would like to stretch their budget every month can go for the 24-month and 36-month periods.

To apply, clients must download the application form from the website and submit it to the nearest Banco de Oro branch. The form needs to be accompanied by the following documentary requirements:

• 1 government-issued ID
• Proof of income, including the latest payslips
• Income tax returns
• BIR form 2316
• Credit card statements for those with credit cards
• Financial statements and registration documents for self-employed individuals

If approved, borrowers can receive the funds via the BDO Manager’s Check or by crediting the money to their BDO savings or current account.

Sample Computation
Loan Amount	6 months	12 months	18 months	24 months	36 months
PHP100,000	PHP17,966.73	PHP9,583.71	PHP6,805.86	PHP5,416.76	PHP4,028.01

CIMB Bank Personal Loan

CIMB Bank is one of the newest kids on the commercial banking block. However, that does not stop it from offering one of the Philippines’ best non-collateral loans with low interest rates. This loan product is the CIMB personal loan, which is open to Filipinos with an account with the all-digital bank.

Convenience is the CIMB Bank’s most vital feature – all that is needed to apply is one valid ID and a copy of one’s payslip. When the applicant has these documents ready, they can open the CIMB Bank app on their mobile phones and apply. They just need to fill out a form and submit scanned copies of the required documents. They can then receive feedback from the bank within 10 minutes.

If approved, the amount will reflect instantly on their CIMB Bank dashboard. If they choose to disburse to other bank accounts, the process will require 1 to 2 business days.

Applicants can apply for at least PHP30,000. If their credit score and other criteria are favorable, they can apply up to PHP1 million. The minimum income requirement is PHP15,000 per month for employed individuals, who must also be employed for at least 6 months. On the other hand, self-employed clients must be in operation for at least a year.

Sample Computation
Loan Amount	12 months	24 months	36 months	48 months	60 months
PHP100,000	PHP9,455.00	PHP5,289.00	PHP3,900.00	PHP3,205.00	PHP3,613

PBCOM Puhunan Plus Personal Loan

The Puhunan Plus Personal Loan program is a partnership between the Philippine Bank of Communications and retail giant Puregold. It aims to provide quick financing for Puregold’s Tindahan ni Aling Puring members that they can use as additional capital or emergency cash.

Puhunan Plus is a short-term cash loan that matures in at most 84 days. There are two other term lengths that TNAP members can choose from: lengths of 14 days and 28 days. Compared to the other non-collateral personal loans with low interest rates in the Philippines, this loan program offers only PHP10,000 to PHP150,000.

Despite being a short-term loan, the interest rates in this facility are very affordable: 14-day loans carry only 2% interest. Aside from that, Puhunan Plus also has a speedy approval process. Applicants can expect approval within 1-2 business days, provided their documents have no problems.

To apply, TNAP members only need to text their address and contact details to the PBCOM Account Officer assigned to their areas. The Account Officer will visit them to facilitate the loan application and approval process.

Sample Computation
Loan Amount	14 days	28 days	84 days
PHP20,000	PHP20,400.00	PHP10,380.00	PHP3,683.33

Asia United Bank C@SHELP Salary Loan

Asia United Bank extends financial help to employees of their partner companies through the C@SHELP salary loan. This facility offers qualified recipients convenience, affordability, and sizable loan amounts. For instance, applicants can borrow a maximum amount equivalent to six times their monthly gross salary.

To apply, borrowers must first download and install the AUB Mobile App on their mobile devices. After installing the app, they must go to the Loans feature of the interface and select the C@SHELP Salary Loan option. They must enter the Company Code, which they can obtain from their human resource departments.

After this, the rest of the process involves entering certain information onto a form, providing their digital signature, and submitting documents like payslips, income tax returns, and valid IDs.

The entire process is digital. After submitting scanned copies of the required documents, interested employees will only need to check on the progress of their application through the AUB Mobile app. The bank will confirm via SMS and email if their loan has been approved. Repayment is very convenient, too; the bank automatically deducts the monthly amortization from the employee’s salary.

Sterling Bank Asia PERSONA Personal Loan

Sterling Bank Asia provides Filipinos with up to PHP1 million in financing through the PERSONA multi-purpose loan facility. Many Filipinos find it challenging to apply for loans because of the collateral or the co-maker requirement. However, with Sterling Bank Asia’s offering, they can eliminate those two requirements and focus on just qualifying for the loan.

The PERSONA loan makes available at least PHP30,000 for qualified Filipinos. To qualify, the applicant must have at least PHP30,000 gross monthly income.

This loan can be repaid in up to 36 months of installment. The repayment is through post-dated checks, meaning borrowers must issue Sterling Bank up to 36 signed checks it will draw on when the monthly due date arrives. That’s very convenient, and all the debtors have to do is make sure the checking account is sufficiently funded.

The PERSONA loan is multi-purpose. The funds can be utilized for one or more applications, including business startup costs, emergency expenses, children’s tuition fees, travel funds, and many others.

To apply, interested clients can visit Sterling Bank Asia’s official website and fill out the online application form. The bank will also require you to attach documentary requirements like your valid IDs, payslips, income tax returns, certificate of employment, and company ID, among others.

Sample Computation
Loan Amount	3 months	6 months	12 months	18 months	24 months	36 months
PHP10,000	PHP35,133.33	PHP18,466.67	PHP10,133.33	PHP7,355.56	PHP5,967	PHP4,577.78

UCPB SalarEasy Loan

The UCPB SalarEasy Loan offers up to PHP300,000 in financing to Filipinos with checking accounts who are also credit card holders and earning PHP30,000 gross monthly income for the past 2 years. Alternatively, entrepreneurs whose businesses have been profitable for the last 2 years can qualify for this salary loan.

If they find the maximum loanable amount too high, they can pick another value between it and PHP50,000. Successful applicants can pay off the loan in 12-month, 18-month, 24-month, and 36-month installments. Repayment is accomplished through post-dated checks, so having a checking account is a significant factor in the approval process.

The application process involves downloading and filling out the application form. Potential debtors can visit a nearby UCPB branch to submit the form or send it via fax or email. Their application must also include photocopies of 2 valid IDs issued by the government, utility bills, and credit card billing statements.

Depending on their source of income, applicants may have to provide a company ID, a payslip, ITR form 2316, financial statements, checking account statements, or business registration documents.

Sample Computation
Loan Amount	12 months	18 months	24 months	36 months
PHP10,000	PHP9,924.00	PHP7,146.00	PHP5,857	PHP4,468.00

Conclusion

Thanks to these non-collateral personal loans with low interest rates in the Philippines, Filipinos now have a better chance of receiving financing whenever needed. The lack of a collateral requirement helps them rest easy because they don’t have an asset that might be seized in case of default. In addition, the affordable interest rates ensure there is no risk of being unable to repay the debt. If you need financial assistance, check out one or more of these 15 non-collateral personal loans now!