Top Personal Loan Providers in the Philippines

If you’re looking for a loan with no collateral, a personal loan is the answer to your problems. Loans such as EastWest Personal Loan give flexible terms and lower interests. If this is your first time to apply for one, you should keep in mind some basic facts first to improve your chances of approval.

Payment terms may vary from bank to bank, but loans such as the PBCOM Personal Loan usually have fixed interest rates for the entire duration of your loan. Loans also have fixed terms that let you know how many payments you need to make and when it will be completed. If the need arises, there are also extended payment periods which allow you to schedule your payments and manage your budget better.

Fortunately, almost all local banks offer personal loans and here’s a rundown of the top ones that you should consider for your application.

BDO (Banco de Oro)

  • Maximum loanable amount: Php 1,000,000.00
  • Interest rates: Fixed rate of 17.07% per annum, 1.25% per month add-on, 1.30% per month for 6-month tenure
  • Requirements: Photocopy of last full month pay slip (for employees), original Certificate of Employment and Income citing the applicant’s employment status, compensation, and length of service, photocopy of latest BIR Form 2316 or W2 with the signature of the company’s representative

BPI (Bank of the Philippine Islands)

  • Maximum loanable amount: Php 1,000,000.00
  • Interest rates: 14.40% per annum
  • Requirements: 3 months original pay slip and/or Latest Income Tax Return with BIR or Bank stamp (BIR Form 2316) for employees
  • Government-issued ID with photo such as Passport, Driver’s License, SSS, and PRC

EastWest Bank

  • Maximum loanable amount: Php 2,000,000.00
  • Interest Rates: 17.88% – 20.28%
  • Requirements: Original copy of Certificate of Employment indicating salary and position, photocopy of latest one month pay slip, photocopy of BIR FORM 2316/W2 (Tax Withheld), photocopy of one (1) valid photo-bearing digitized I.D., valid credit card reference or latest Statement of Account of an existing credit card.


  • Maximum loanable amount: Php 2,000,000.00
  • Interest Rates: Fixed rate of 26.9% to 37.9% per annum
  • Requirements:  Minimum annual income of ₱250,000, two (2) valid IDs with photo and signature such as passport, driver’s license, GSIS e-Card, SSS photo card ID, and TIN photo card, ITR or BIR 2316 or latest 3 full months pay slip, photocopy of the front side of any active credit card (must be active for at least 6 months for Citi Card and at least 3 months for cards from other banks)


  • Maximum loanable amount: Php 1,000,000.00
  • Interest Rates: 6.08% per annum, 1.40% per month add-on
  • Requirements: Copy of valid government IDs, Certificate of Employment and Compensation or latest 2 months pay slip or ITR, TIN, 1 month latest utility bill

There are lots of loans to choose from, such as EastWest Personal Loan and other multi-purpose loans you can find online. It will be easy for you to shop around and compare to see which one will most likely approve your application.

News Reporter