philippines bank

10 Philippines Banks that offer Personal Loans with Lowest Interest Rate

Last Updated on October 26, 2023 by admin

The quest for personal loan in Philippine is on the increase as citizen continue to search for Low Interest Rate before borrowing money from any financial institution

Apart from taking interest rate into account, Borrower should consider loan repayment terms, collateral/guarantor, approval time, and Processing Fee,Loan Tenor and affordable monthly payments.

However, Getting a personal loan with a low-interest rate helps the borrower save money, as it keeps the interest payments low over the loan’s duration.

Banks and online lenders that offer Salary loan in Philippines

When it comes to personal loans, finding a reliable bank with the lowest interest rates can make all the difference in managing your finances effectively. In the Philippines, numerous banks offer personal loans tailored to meet your specific needs. To help you make an informed decision, we have compiled a list of ten Philippines banks that offer personal loans with the lowest interest rates.

For the purpose of this content, we are going to take a look at various lenders in the Philippines that offer affordable personal loans with low interest rate, duration,Loan amount.

1. HSBC Personal Loan

The Hongkong and Shanghai Banking Corporation Limited HSBC Personal Loan offer borrowers the choice to repay their loan in 6, 12, 18, 24 or 36 months if they meet acceptable loan purposes such as Travel, educational expenses, and credit card payment.

HSBC Personal Loan fees and rates

1. Processing Fee: PHP1,500 (deducted from loan proceeds)
2. Late Payment Fee: 36% per annum on overdue payment
3. Amendment Fee: PHP500.00 per amendment after drawdown (for modification of loan details)
4. Breaking Cost: To be computed as described in the HSBC website and in the HSBC Easy Guide to Bank Services and Charges (upon loan pre-termination)
5. Overdue Interest Charge: 36% per annum on all overdue installments
6. Documentary Stamp Tax (DST): 0.75% of the drawn loan amount (deducted from loan proceeds). Loan amounts of up to PHP250,000 which are used for personal purposes are exempt from DST
7. How much you can borrowed: P30,000 to P500,000

How to apply for HSBC Personal Loan

Interest customer who intend to borrow HSBC Personal Loan can apply either on phone call (02) 8858-0000 or Apply in branch


2. May Bank Personal Loan

May Bank offers borrower personal loan Up to 1 million loanable amount with Flexible payment terms of up to 36 months and a competitive add-on rate per month, which make it one of the lowest in the Philippines. Maybank personal loan interest rate is 1.3%

Fees and Charges

1. Documentary Stamp Tax (Php 1.50 for every Php 200, if loan amount is Php 250,000 above)
2. Credit Life Insurance (varies upon calculation of age and loan maturity)

Eligibility to Apply?

1. You should be a Filipino citizen, at least 23 years old but not older than 65 years old when your loan matures.

2. Your home and business address should be within any of the bank’s service regions.
3. You should have the following active contact numbers: home landline, office or business landline, and mobile number.

4. If you are locally employed, you should be with your current employer for 2 years work tenure and earning a minimum salary of Php 25,000. Your employer should be one of the Top 7,000 companies in the Philippines.

5. If you are a Professional or Self-employed, you should have been in the same profession or the same business for at least 3 years. As a business owner, your business should have been operational for the past 3 years with at least 2 continuous years of profitability; an average monthly income of Php 200,000 and business should be duly registered with DTI or SEC.

Requirements to apply for Maybank Personal loan in Philippine

For employed applicants:

1. Photocopy of 2 valid IDs with 3 specimen signatures
2. Photocopy of latest utility billing statement with residence address
3. Original certificate of employment with compensation and 1 month payslip
4. Photocopy of latest ITR or BIR Form 2316

For self-employed applicants:

1. Photocopy of 2 valid IDs with 3 specimen signatures
2. SEC/ DTI Certificate of Registration
3. 2 years Audited Financial Statements
4. Latest 6 months bank statements with average monthly deposit of Php 200,000
5. List of 3 major suppliers and 3 major customers

How to apply for Maybank personal Loan

kindly visit their online portal for loan application or visit any closet brach of Maybank for personal loan application.

List of Best online Loan Apps registered in Philippines by securities and exchange commission


3. Citibank Personal Loan

Citibank offer High loan amount of up to P2 million without any collateral or guarantor with Flexible repayment terms of 1 to 5 years and Approval in as fast as 24 hours.

Citi Personal Loan can be use for business expansion,home improvement, personal growth,holiday, debt consolidation and others purpose.

Your actual amortizations will be reflected in the loan disclosure statement. A disbursement fee of P1,750 shall apply.

The loan Documentary stamp tax is at P1.50 per P200 of your loan amount may also apply.

Example: If you borrow a loan of P50,000, payable in 12 monthly installments, at an applicable annual contractual rate of 26.9%, with the disbursement fee of P1,750 and documentary stamp tax of P0, the total loan repayment amount will be P59,331.17.

Eligibility for Citibank Personal Loan

1. You are at least 21 to 65 years old.

2. You are a Filipino resident or a local resident foreigner with a valid Philippine billing address.

3. You have a Tax Payer’s Identification Number (TIN).

4. You are a principal credit cardholder.

5. Have a minimum gross annual income of Php 250,000.

Required Documents for Citibank Personal Loan

1. One (1) valid government-issued ID with photo and signature.

2. For employed: Latest 1 month full pay slip

3. For self-employed: Latest Income Tax Return (BIR Form 1701); and Audited Financial Statements (AFS) of the business with independent auditor’s report and balance sheets and tax receipt

Foreign Nationals:

1. Valid passport or ACR, AND

2. Any of the following proofs of local residency:

a. Immigrant Certificate of Residency (ICR)

b. ACR I-Card with Visa status “Permanent”, otherwise, should be valid for more than 1 year

c. Visa and Work Permit/Alien Employment Permit (AEP) with validity of more than 1 year

d. Special Resident Investors (SRIV)

e. Special Resident Retirement Visa (SRRV)

f. For Top 2000 companies, employment contract or letter from Company HR printed on company letterhead with name, position, and confirmation of term.

4. RCBC personal loan

Rcbc offer personal loan with low monthly amortizations with Maximum Loan Amount Php 1,000,000 and Minimum Loan Amount Php 50,000.The Payment Terms has a Flexible payment terms from 6 to 36 months.

Who are eligible to apply for RCBC personal loan?

For employed:

1.Filipino Citizen or Dual Citizen
2. At least 21 years old upon loan application
3. At most 65 years old upon loan maturity
4. Must have a mobile number and a residence or office landline
5. With a minimum employment tenure of 2 years and minimum gross monthly income of Php30,000

For Self-employed:

1. Filipino Citizen or Dual Citizen
2. At least 21 years old upon loan application
3. At most 65 years old upon loan maturity
4. Must have a mobile number and a residence or office landline
5. With business operating for at least 3 years and profitable for the past 2 years, and minimum gross monthly income of Php100,000

Required Document for RCBC personal loan

1. Accomplished RCBC Personal Loan Application Form
2. For Employed applicants: Certificate of Employment (COE) or latest ITR, 2 valid government-issued IDs, TIN, Utility Bill

3. For Self-Employed applicants: Business Papers (DTI or SEC, Mayor’s Permit), Latest ITR or Audited Financial Statements or latest 3-month bank statement

How to apply for RCBC personal loan

Interest borrower can apply online or at a branch near you

5. PBCom personal loan

PBCom personal loan offer borrower extra cash to fund their child’s education, set off to a family vacation, or experience a wedding with a minimum loan amount of Php 40,000 and maximum amount of Php 1,000,000.There Interest rate is as low as *1.68% per month with 12-36 months loan duration.


To be eligible for PBCom personal loan you need to fulfil the following details:

1. 25 to 65 years old (applicant must not be more than 65 years old upon loan maturity)
2. Filipino citizen or foreign citizen residing in the Philippines
3. Salaried or self-employed individuals
4. With minimum monthly income of Php 35,000 for salaried and self-employed individuals


The requirement for PBCom personal loan is adumbrated below.

1. Original completely filled-out signed Application Form
2. Photocopy of 1 Valid ID (government issued ID or xxxxxxx)
3. Photocopy of Proof of Billing Address under the name of the borrower, e.g. utility bill
4. Any copy of the following legal documents allowing stay in the Philippines if foreigner but a local resident:
Alien Certificate of Registration


Certification of Employment with compensation or latest three (3) months’ payslips upon loan application

How to apply for PBCom personal loan

Simply DOWNLOAD PBCom personal loan form from their site and email the filled-out copy to


6. BPI Personal Loan

BPI Personal Loan helps you get extra cash for your different needs–home renovation, education, business, travel, or anything else you need.

Loan amount
Enough to depend on! Get up to 3 times of your gross monthly income, with amounts ranging from PHP 20,000 to PHP 1,000,000, subject to our approval.

Loan purpose
Fits your needs! It’s a multi-purpose loan that you can use for anything and everything that matters to you!

Loan Term
Budget it right! Choose among 12, 18, 24, 30 and 36 months to make your monthly installments light on your pocket.

Interest Rate
Get the best deal! Enjoy our low interest rate of 1.20% and affordable payment schemes.

Loan Availability
Get your cash quickly and safely from your BPI nominated account.

Payment Method
It’s so easy! We will automatically debit your scheduled installment from your BPI deposit account.

Loan Monitoring
No worries! Monitor your loan payments and outstanding balance from anywhere, anytime via BPI Express Online or 889-10000 BPI Phone Banking

How to apply for BPI Personal Loan

To apply for BPI Personal Loan kindly visit their site to apply or at bank branch.


7. Security Bank Personal Loan

Security Bank offers Personal Loan for Emergencies, Education, Travel, Home Improvements/ Lot Down Payments and Car Repair/ Car Purchase.

Minimum Loan Amount: PHP 30,000
Maximum Loan Amount: PHP 2,000,000
Payment Terms: up to 36 months
Approval Time: within 5 banking days
Monthly Add-on Rate: 1.89%

Fees and Charges for Security Bank Personal Loan

Processing Fee: PHP 2,000
Notarial fee: (For P100,000 loan and up) PHP 100
Documentary Stamps: (For Php 250,000 loan and up) Approved Loan Amount / 200 * 1.50
Late Payment Fee: 3% of amount due or P500 whichever is higher

Eligibility for Security Bank Personal Loan

At least 21 years old at the time of application but not more than 65 years old upon loan maturity
Must be a Filipino Citizen
Must have an office or residence landline.

If Employed

Minimum gross monthly income:
For Metro Manila: PHP15,000

If Self-employed:

For Self-Employed or Self-Employed Professionals, borrower must be the owner or a majority owner with at least 40% stake AND the business has been operating profitably for at least 2 years with at least 1 trade reference.

Documentary Requirements

A. Completely Filled out and signed application form. For online application, go here. If you’re applying at a branch, click here to download the form.

B. If Employed:

One (1) valid government-issued photo ID
Income Documents, any of the following:
Certificate of Employment and Compensation
– issued within the last six (6) months
Latest ITR
Latest one (1) month payslip

C. If Self-Employed:

One (1) valid government-issued photo ID
Latest 1-year Audited Financial Statement (AFS) with at least the previous year’s comparative financials
SEC Registration / DTI Certificate
Business Permit / Mayor’s Permit
Latest three (3) months bank statements
Latest GIS (if corporation)
List of 3 trade references (at least 1 supplier and 1 customer) with contact details.

How to Apply Security Bank Personal Loan

1. Go to the Online Personal Loan Application Facility.
2. Accomplish the form by filling out all the required fields.
3. Attach all the scanned copies or photos of requirements.
4. Agree to the Terms and Conditions and click Next. Wait for a confirmation through SMS.
5. Minimum gross monthly income: PHP100,000
6. For outside Metro Manila: PHP12,000


8. EastWest Personal Loan

The EastWest offer Personal Loan to Filipino citizen or Foreign National permanently residing in the Philippines with lowest interest rate on personal loan products at 1.89% monthly. You can borrow up to PHP 2 million to finance your travel, emergency, and educational expenses.

Eligibility for EastWest Personal Loan

Applicant must:

1. Be a Filipino citizen or Foreign National permanently residing in the Philippines

2. Be at least 21 years old during application and not more than 65 years old upon loan maturity

3. Have at least one fixed landline number (either home or business) and a mobile number. (Mobile number will not be accepted as a stand-alone contact number).

4. Have a Gross (basic) monthly income (GMI) must be at least Php15,000 or basic annual income or must not be less than Php180,000

Requirements Document Upon Loan:

1. Completely filled-out EastWest Online Personal Loan Application Form

2. Photocopy of at least one (1) valid digitized photo-bearing and signature-bearing I.D.’s issued in the Philippines (i.e. Driver’s License, Philippine Passport, Professional Regulation Commission (PRC) I.D., SSS I.D., BIR ID, Integrated Bar of the Philippines I.D., and Unified SSS/GSIS and TIN I.D.). Company I.D.’s issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC may also be submitted.

(For Foreign Nationals Only) ANY of the following Proof of Residence: Alien Certificate of Registration, Immigrant Certificate of Registration or Photocopy of Resident Visa stamp on Passport

Proof of Income as follows:

If employed, submit ANY of the following:

Photocopy of latest ITR/BIR Form 2316; or
Photocopy of latest three months pay slips; or
Valid Credit Card reference or its latest Credit Card Statement of Account
Other documents that may be required for further verification

If self-employed, submit ALL of the following:
Photocopy of latest ITR/BIR Form 1701 and Audited Financial Statements
DTI Registration Certificate (for Sole Proprietorship) or SEC Registration Certificate with page stating shares owned by the applicant (for Partnerships or Corporations)
Valid Credit Card reference or its latest Credit Card Statement of Account

Other documents that may be required for further verification such as Business Permit or Mayor’s Permit.

How to apply for an EastWest Personal Loan

Just follow these 3 easy steps:

STEP 1 – Completely fill out the Personal Loan Application Form. Apply here.
STEP 2 – Read through the terms and conditions.
STEP 3 – Prepare scanned copies of the additional supporting documents.

Email your supporting documents to


9 . CIMB Bank Personal Loan

CIMB Bank offers competitive bank loan interest rates in the Philippines VIA digital personal loan application.The application process is Convenient and Seamless, it is fast as 10 minutes with just 1 valid ID and 1 payslip.

Eligibility for CIMB Bank Personal Loan

1. Individuals aged 21 and above
2. Applicant must be no older than 65 upon loan maturity
3. Applicant must be a Philippine citizen and a non-US person
4. Applicant must have a Philippine mailing address and an active Philippine mobile number
5. Applicant must have a minimum gross monthly income of ₱15,000
6. Applicant, if employed, must be tenured for at least 6 months, or 1 year of continuous employment, unless employed in the top 15,000 corporations
7. Applicant, if self-employed, must be operating for at least 1 year

Features of CIMB Bank Personal Loan

Monthly Add-On Interest Rate: 1.12% to 1.95%
Loan amount: PHP 30,000 to PHP 1,000,000
Loan terms: 12 to 60 months
Processing duration: Loan application in just 10 minutes, approval in 24 hours
Loan fees:
Documentary stamp PHP 1.50 per PHP 200 of the loan amount
Late payment fee of 5% of unpaid installment due or PHP 300. whichever is higher.


10. Easi-Funds Personal Loan – China Bank Savings

Easi-Funds Personal Loan is a cash loan with no collateral. It gives you access to cash quickly. The loan amount is up to Php 1 Million maximum loanable amount.

Requirements for Easi-Funds Personal Loan

1. Duly filled-out Customer Information Sheet
2. Latest 1×1 ID picture
3. One (1) original and submission of a clear copy of any valid ID/s bearing the client’s photo and signature

Feature of Easi-Funds Personal Loan

1. Monthly Interest Rate: 1.55% to 1.75%
2. Loan amount: PHP 30,000 to PHP 1,000,000
3. Loan terms: 12 to 36 months
4. Processing duration: Three to 5 working days
5. Loan fee: Processing fee of PHP 1,500


Finding a bank that offers personal loans with low interest rates is crucial when it comes to smart financial planning. Understanding the options available to you allows you to choose the best deal that aligns with your needs and budget. From BDO and BPI to Metrobank and CIMB Bank, these ten Philippines banks offer affordable financing options for every individual. By comparing their low-interest rates and evaluating their terms and conditions, you can make an informed decision that sets you on the path to financial success.



Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

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