Jefanie Genilla
There are a lot of lending companies in the Philippines. There are huge banks, private firms and individual lenders. Though there are a lot of choices, the only problem is that most of them ask for high interest rates. Though you know you can repay the amount to be borrowed, you think you can’t do it anymore as soon as the interest rates kick in.
Despite all these bank issues, the good news is that there are banks and firms that offer promotions now to entice more people to borrow from them. As a result, these huge banks compete to offer lower interest rates. You just need to keep researching to find the best lending company in Manila with low interest rates.
Bank of the Philippine Islands
BPI is one of the most reliable private banks in the country. It has hundreds of branches throughout the Philippines. Therefore, finding one near you is easier. The best part is that they can offer cash loans that can be as high as thrice the gross amount that you earn for a salary. They also decide quickly on the approval of your loans. In just 7-10 days, you can get the amount you have borrowed. Their fixed interest rate is 1.20%. This is one of the lowest you can ever find.
BDO
With the merging of different banks, BDO was born. For many years now, it is considered the largest bank in the Philippines. It also keeps on growing to provide services to Filipinos residing in far flung areas. At 1.25%, its interest rate is slightly higher than BPI. The best part is that they have a flexible repayment scheme. Therefore, paying back the amount that you have borrowed is a lot easier.
RCBC
This bank is one of the oldest and most reliable in the Philippines. They offer a low interest rate of just 1.30%. Though this is slightly higher than the first two banks mentioned, the up side is that they process applications really quickly. In just 7 days or less, you will know the results.
Robinsons Bank
At 1.40%, this interest rate is quite high. However, if you can get your cash loans in just 3 days, it is worth the risk. The down side of borrowing in banks is that they process applications really slowly. If you don’t want to wait for a long time just to get approval, then this is the best choice for you. For emergency cases, you can count on Robinsons bank to help you out.
Expand your options with LoanSolutions
After looking for all possible options and you still can’t find what you need, then seek help from LoanSolutions. This company will allow you to process everything online. The steps are so simple. You just need to answer an online application form and they will match you with the right company. If you are not satisfied with the interest rates of local bank and firms, then they will help you look for other options around the world. Before you know it, you have already found the right match.
