Online cash lending is popular these days. It is fast, convenient, and you don’t have to leave the comfort of your home just to submit documents and borrow money. Many people realize the convenience it brings, which is why there are those who take advantage of this online facility.
Apparently, it’s not the same for every online cash lender in the market, at least in terms of loan repayment. There are lenders who are reasonable and don’t charge that much while there are many others who bank on this constant demand for cash and charge higher interest rate plus processing fee.
To guide you better, we compiled a list of online cash lenders in the Philippines and how much they will charge for seven, 21, and 30 days if you borrow P10,000.00 :
|Online Cash Lender||7 days||21 days||30 days|
|Loan Ranger ***||₱10,325.00||₱11,365.00||₱11,950.00|
From the list itself, you can see that Binixo, Cashwagon, Moola, My Cash, Pera247, and Robocash are among the expensive ones in the market. You can save more on fees by going for online cash lenders who charge a more reasonable rate like Cashmart and Loan Ranger.
Take note that the amount is set at P10,000 and the rates already reflect the interest charge plus processing fee, if any. We cannot determine how much exactly is the interest rate charged by every online cash lender. Nonetheless, use this table as a guide to help you determine the best and most affordable online cash lender that will suit your needs.
That being said, where do you plan to borrow?
* P10,525.00 is for 15 days
** P12,000.00 is for 10 days and P13,000.00 is for 20 days
* ** P10,325.00 is for 5 days
**** P11,330.00 is for 10 days