General Questions
1. Who is eligible to apply for an online loan?
- Filipino citizen aged 20 to 75 years
- At least one valid government-issued ID
- Active mobile phone number
2. How fast can I receive the loan after approval?
Most lenders transfer funds instantly upon approval. Depending on your bank or e-wallet, it may take a few minutes to 1–2 business days.
3. What documents are required?
- Mandatory: Valid government-issued ID
- Optional: Payslip, Certificate of Employment, company ID, ITR, or DTI certificate (for self-employed)
4. Can I apply without a bank account?
Yes. Many lenders support disbursement via GCash, Maya, or other e-wallets.
5. Can I apply for multiple loans at the same time?
Usually not. Most lenders only allow one active loan at a time. You must repay your current loan before applying again.
6. Why was my loan application rejected?
Common reasons:
- Incomplete or incorrect information
- Poor credit history
- Unverified income or document mismatch
Loan Repayment Questions
7. How do I repay my loan?
- Log in to your lender’s platform
- Select your active loan
- Choose repayment method (bank, e-wallet, payment center)
- Follow the steps to complete payment
8. What if my payment is delayed or not reflected?
Bank transfers may take up to 5 business days. Always send your receipt to the lender’s support to avoid penalties.
9. Can I extend or renew my loan?
Yes. Some lenders allow extensions or restructuring. Contact support early if you’re facing repayment difficulties.
Loan Cancellation & Cooling-Off Period
10. What is the “cooling-off” period?
It’s a 3-business-day window after signing the agreement, during which you can cancel without penalties, except for actual processing costs.
11. How do I cancel a loan within the cooling-off period?
- Contact customer support within 3 business days
- Provide your name, birthdate, mobile number, and reason
- Repay the loan amount in full
- Send proof of repayment
12. Will canceling affect my credit score?
No, if canceled properly within the cooling-off period and repaid in full.
Interest Rates & Fees
13. What are the usual interest rates?
- First-time borrowers: Often 0%
- Returning borrowers: Usually 1% to 1.99% per day
14. Are there hidden fees?
Legit lenders disclose all charges upfront. Expect processing fees and possible late penalties. Always review your loan terms.
15. What happens if I miss a payment?
Late fees will apply as specified in your agreement, and it could hurt your credit score.
Debt Collection & Non-Payment
16. What if I can’t repay on time?
- Lenders will remind you via call, text, or email
- Continuous non-payment may result in legal collection
- Contact them early to discuss options
17. Can lenders legally collect debts?
Yes, if they are SEC-registered. They must comply with proper legal procedures and privacy laws.
Credit History & Score
18. Do online loans affect my credit score?
Yes. On-time payments can improve your score. Missed or late payments may damage it.
Security & Privacy
19. Is my information safe?
Reputable lenders follow the Philippine Data Privacy Act and use secure encryption to protect your data.
Complaints & Support
20. How do I report problems with my lender?
- Contact their support first
- If unresolved, file a complaint with the Securities and Exchange Commission (SEC)
Technical Issues
21. What if I don’t receive the SMS code?
- Restart your phone
- Check signal, inbox storage, and phone settings
- If still unresolved, contact support
22. What if I entered the wrong bank or e-wallet details?
Funds are typically returned to the lender within 1–2 weeks. The loan may be canceled automatically, allowing you to reapply.
Loan Scam Awareness
23. How can I spot a fake or scam loan app?
Be careful if the lender:
- Offers instant approval without checking documents
- Requires upfront payment or “processing” fees via GCash
- Has no SEC registration or verified contact details
- Sends suspicious SMS or DMs with unfamiliar links
24. How do I verify if a lender is legit in the Philippines?
- Check their SEC Registration No. on the official SEC Lending List 🔗
- Look for reviews on trusted sites like Cash24.ph
- Never trust SMS-only offers or Facebook comments
25. What should I do if I paid a scammer by mistake?
- Report the transaction to your e-wallet (e.g., GCash) immediately
- File a police blotter and notify the NBI Cybercrime Division
- Send a complaint to the SEC and BSP if the scammer used their name fraudulently
Special Borrower Cases
26. Can I get a loan without a government-issued ID?
Some lenders accept only company IDs or barangay certificates for micro-loans (₱1,000–₱5,000), but most require at least one government-issued ID like UMID, SSS, TIN, or Passport.
📌 Always verify if the lender is SEC-registered before submitting personal information.
27. Can freelancers, online sellers, or self-employed individuals apply for loans?
Yes. Many digital lenders accept informal income. You may be asked to submit:
- Bank transaction history showing income
- DTI registration (for entrepreneurs)
- Screenshots of e-commerce platforms like Shopee, TikTok, or Lazada
✅ These borrowers are often eligible for small to medium short-term loans.
28. Which online loan providers offer the highest loan amounts?
Here are some examples as of 2025:
| Loan Provider | Maximum Loan | Approval Time |
|---|---|---|
| Finbro | ₱50,000 | < 24 hours |
| Cash Express | ₱30,000 | ~15 minutes |
| MoneyCat | ₱20,000 | ~24 hours |
| Digido | ₱25,000 | ~1 day |
🟢 Final Note from Cash24.ph
At Cash24.ph, we’re committed to helping you navigate online lending with transparency, clarity, and confidence. All information above is verified and based on current lending practices in the Philippines.