Personal Loans in the Philippines - Compare with Hioola.ph
Need extra funds for education, emergencies, or everyday needs? Hioola.ph is your go-to platform for comparing personal loan offers from trusted lenders in the Philippines. We make it easy to explore, compare, and apply online-quickly and securely.
Why Use Hioola.ph?
We are not a lender-we help you make informed choices by showing clear comparisons of interest rates, terms, and fees from licensed lending partners. All in one convenient place.
Repayment Term:
Choose a loan term that suits your budget. Most personal loans offer repayment periods ranging from 62 days to one year, giving you the flexibility to manage your monthly payments.
Interest Rates:
Interest rates vary depending on the lender and your credit profile. If you’re a first-time borrower, you may qualify for a 0% interest rate on your initial loan. However, be aware that APR can go as high as 180%, depending on the terms.
Example of Loan Calculation:
Let’s say you borrow ₱2,400 and plan to repay it over 3 months with an annual interest rate of 145%:
- Monthly Payment: ₱870
- Additional Fee: ₱210
- Total Repayment: ₱2,610
Compare offers today and find the personal loan that fits your needs-with no hidden surprises.
Additional Associated Fees
Many or all of the products we offer are from our partners, from whom we may receive commission. This may affect the placement of offers and whether a product is included in the comparison. However, this does not affect our ratings.
In addition to obvious costs like interest and repayments, there may be hidden fees that ultimately make a loan more expensive than it initially appears. These hidden costs are not always obvious and can take many forms.
One of the most common hidden costs is a processing fee. Some lenders charge a fee for reviewing a loan application, which is added to the loan amount and interest. While this practice is criticized and sometimes restricted by law in many countries, it is important to consider this when taking out a loan.
Insurance premiums, especially for residual liability insurance, are another issue often overlooked. These insurances are designed to protect both the borrower and the lender if the borrower is unable to service the loan for reasons such as illness or unemployment. However, the cost of such insurance can be high and may significantly increase the overall loan expenses.
If a borrower wishes to repay a loan early, prepayment penalties may apply. These fees are intended to compensate lenders for lost interest income.
Additionally, a special repayment fee may be charged. While some loan agreements offer the option of special repayments without any additional fees, other lenders may impose a charge.
The overall cost of a loan may also be affected by an adjustment to the interest rate on variable-rate loans. If the base interest rate increases, the cost of the loan will also rise.
Therefore, it is crucial for borrowers to carefully review all aspects of a loan agreement, considering not only the nominal interest rate but also any additional fees and charges, to get a true understanding of the total cost of the loan.
Please note that Hioola.ph is not a lender and does not issue microloans directly. We are an independent loan comparison platform committed to helping Filipinos make informed financial decisions.
Visit Hioola.ph and take the first step toward smarter borrowing.