24 Hour Payday Loan in Philippines

The salary of the Philippines’ workers leaves a lot to be desired. Sometimes, the last week or two before another payment, people need extra finances for basic things like paying the rent, food, and so on. For that, they need a loan, but bank loans are extremely difficult to get. People have to gather a lot of documents, wait in a queue to apply, and then wait much more time to get a response. Besides, there’s no guarantee all this will lead to approval.

That’s why online credit companies were established. They don’t have such strict requirements; you don’t have to go anywhere to apply, everything is done online. Anyone can get their money in as soon as an hour after application. These are usually short-time loans, so the interest is calculated daily.

How 24 Hour Payday Loan Works

Now that we know what a payday loan is, let’s see how easy it is exactly to get one. Companies like Tala are very easy to make use of:

  1. Find a reliable payday credit company.
    Look for honest reviews, ratings, lists of TOP credit companies. Ask your friends and family if they can recommend a good service.
  2. Compare the interest.
    Calculate the interest rate you’ll have to pay, depending on the amount of time you need to give the money back. Pay attention to the rules the services specify as to the dates of installment transfers.
  3. Find a company that will give you the sum you need.
    Most services have a wide range of short-term credits, from ₱2,000 to ₱20,000. If you need more, the number of available services may become smaller. Also, remember, if you pay the first loan back in time, the service may give you an opportunity to loan more money the next time.
  4. Get familiar with the legal information.
    Every trusted 24 hour payday loan service has a number of pages with the information about the terms of cooperation, your private data, interest rates, and more in the footer of their website. Read all the pages and pay close attention to the small print. There may be peculiar additional rules explained.
  5. Gather all the data they need.
    Usually, it’s an ID, phone number, bank card number, and proof that you’re officially employed. The latest paycheck will do. Some companies ask for more information, but it’s nothing too complicated, especially compared to bank credits.
  6. Apply and wait for confirmation.
    A lot of companies provide approvals in as soon as 1 hour. They may ask you to provide more information, but usually, there are no issues, even if your credit score is lower than the standard.
  7. Get your money.
    Soon enough, the sum of money you need will be transferred to your bank account. Make sure you pay it back in time, and if you’re not sure when or where to do that, customer support should help.

You can do all that from the comfort of your home, anytime. Such services work around the clock. Please, keep in mind that all the facts we provide in this article are publicly known and may vary depending on the service you choose. Consider them kind tips and general estimates rather than precise numbers, terms, and time limits.

Advantages and Disadvantages of a Payday Loan

There are a lot of advantages to modern credit companies. They are a great alternative to a bank loan, especially if you need money short-term. However, everything has pros and cons, and we’ll show you both.


  • 90%-100% guarantee that your application won’t be rejected. 24 hour payday loan Philippines companies are very loyal even to the people whose credit score is low;
  • Saving a lot of time as you don’t have to go to the bank, gather a package of documents, wait for the approval;
  • Individual customer approach, using which before approval or denial, the staff will pay attention to your history and the reason you need the finances;
  • 24/7 service, so even if you need money at night due to an emergency, you can get them in an hour;
  • No collateral needed to get a loan, even if you do it for the first time.


  • Considerable interest rate (starting with 0,5% a day) due to the fact that all the loans are short term (7 to 180 days, more or less);
  • A lot of scams online, as with any service that involves finances, personal info, and more; if you’re careful, this won’t happen with you.

There are a lot more benefits than drawbacks to using such financial help companies. The most important thing is to choose a reliable one.

Application Required Documents

To get a loan, you have to fit all the requirements and provide certain documents and info. They are much more loyal than those of banks:

  • Age limit is 20 to 60-65 years old;
  • Official employment;
  • ITR if you’re self-employed;
  • Proof of profitability (3 or more consecutive payslips from your employer);
  • Bank account registered under your name;
  • 1-2 valid identification documents (ID, driving license, etc.);
  • Proof that you live by the address you specify (any utility bill will do).

The requirements may vary from company to company; here we only present to you the general, most common ones. Sometimes you may be asked to provide additional information before approving the application.

Recommendations on Using an Online Loan Company

As with anything, there are scammers who can use your information to get loans for themselves. However, it’s not difficult to distinguish a good company from liars. Here are some useful tips to make sure you, your information, and money are safe, and that you get all the needed information about the service:

  • Use an online calculator.
    Every website should have a calculator that will show you how much money you’ll have to pay back. It conveniently combines interest and the main payment, so you don’t have to do the math.
  • Make sure it’s a legal company.
    Every credit company that is officially registered has the right to provide financial help for a short term. According to the Philippines law, it’s legal to provide payday loans if the company is official.
  • Look for legal information.
    No matter how popular the company is, be sure to read their Terms and Conditions page, Privacy Policy, all the rules about paying back the loan, and more. If there’s something you can’t find, contact their customer support to get more information.
  • Look out for suspicious offers.
    If you see the service doesn’t provide clear information either in advertisements or on the informational pages, consider using another one. A lot of people fall for easy money with no commitment, and scammers use their vulnerabilities.
  • Calculate the APR right.
    To make sure you understand every fee, use the calculator, and then try to estimate the APR (annual percentage rate). This will help you compare different companies and choose the best one.
  • Keep penalties in mind.
    Remember, if you don’t pay installments in time, there will be penalties. No matter how loyal the company may be, rules are rules, and if you don’t follow them, you have to pay more.

These recommendations will help you find the best 24 hour payday loan company to work with. Choosing one reliable service will make you always covered money-wise. The more loans you take, the more loyal the lender will be to you. So, if you’re totally satisfied with your experience, stick to that company in case you need more financial aid. You never know when an emergency occurs.

Payday Loans as a Helping Hand During Trying Times

Such payday loans are a regular business in the Philippines. The companies help people a lot not to fall into financial scrutiny. Sometimes people lack a little bit till the day they get a paycheck, or emergency spending is needed to buy tech, health, etc. During these times, getting a 24 hour payday loan with convenient terms and almost no questions asked is a rescue for a lot of people.

To make sure you get the money, find a reliable, officially registered company, provide the needed information, and in an hour, you’ll get the loan. Be sure to pay back in time to avoid penalties, and remember that the more loans you return successfully, the better your credit record will become!

1 thought on “24 Hour Payday Loan in Philippines”

  1. Melany Garcia

    Hello. I just wonder whether it is possible to take such loan during quarantine? And furthermore what happends if I don’t return it on time during quarantine?

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