Personal loan
Quick Cash Loan
A small loan for a short gap, inside the SEC's interest and fee caps for small loans.
The terms
- Loan amount
- ₱3,000 to ₱10,000
- Term
- 2 months
- Payments
- Semi-monthly
- Interest rate
- 3.5% a month
- How interest is computed
- Add-on: interest is the monthly rate on the original amount for every month of the term, spread over equal instalments
- Late payment penalty
- 3% a month on the amount overdue, after 3 days of grace
Fees
- Service Fee₱200.00, deducted at release
Fees are deducted from the loan at release, so the cash you receive is less than the loan amount. The worked example shows each one in pesos.
A worked example: ₱10,000 over 2 months
Paid every payday cut-off, twice a month. Computed by our lending system, the same way your disclosure statement will be.
| Loan amount (principal) | ₱10,000.00 |
|---|---|
| Less: Service Fee | (₱200.00) |
| Net proceeds, the cash you receive | ₱9,800.00 |
| Instalment, semi-monthly (4 payments) | ₱2,675.00 |
| Total interest | ₱700.00 |
| Total of payments | ₱10,700.00 |
| Nominal interest rate | 3.5% a month |
| Effective interest rate | 7.35% a month, 88.19% a year |
This loan is covered by the SEC's caps on small loans (SEC MC 14 s.2025); the figures above are within them.
Payment schedule
| No. | Due, days after release | Principal | Interest | Instalment |
|---|---|---|---|---|
| 1 | 25 | ₱2,500.00 | ₱175.00 | ₱2,675.00 |
| 2 | 40 | ₱2,500.00 | ₱175.00 | ₱2,675.00 |
| 3 | 54 | ₱2,500.00 | ₱175.00 | ₱2,675.00 |
| 4 | 74 | ₱2,500.00 | ₱175.00 | ₱2,675.00 |
Due dates are counted from the release date, which is set when your loan is released.
This is the same computation your disclosure statement will use.
Illustrative figures for the amount and term you chose. The final terms are subject to assessment and are set out in your disclosure statement before you sign.
Who it is for
- Anyone with one valid ID and proof of income
- Short term, paid twice a month
- Interest and fees within the SEC's caps
Other loans
Apply for a Quick Cash Loan
A loan officer reviews every application and calls you. Approval is not guaranteed.