The Philippines' No. 1 Financial E-Commerce Site Helping Filipinos save
thousands of pesos since 2014
Free Financial Consultation(02) 779 6912
Contact Me
Login
Show menu
  • Credit Card
    Credit Card Get the perfect credit card fast
    • Credit Card

    Credit Card Promos
    • The Best Credit Card Promos For July 2017
    • Best Credit Cards For Women In The Philippines: 2017 Edition
    • See more...
    Quick references
    • How to apply for a credit card?
    • Get A Free P5,000 eGift From Nike Park When You Apply For A New Citi Credit Card
    • Top Credit Card Promos In The Philippines For March 2018
    • 4 Things Every Traveler Should Know About Using Their Credit Card Abroad
  • Loans
    Loans Get the best deal on your personal loan
    • Personal Loan
    • OFW Loan
    • Housing Loan
    • Auto Loan

    • Personal Loan Calculator
    • Housing Loan Calculator
    Quick references
    • How to apply for a personal loan?
    • How to get approved for a personal loan?
    • Calculate Your Personal Net Worth
    • We Answer Your Frequently Asked Questions About Tax Refunds In The Philippines
  • Insurance
    Insurance and Protection Get full warranty and affordable premiums
    • Vehicle Insurance
    • CTPL Insurance
    • Property Insurance
    • Health Insurance
    • Travel Insurance
    • Personal Accident Insurance
    • Electronic Insurance
    • Dengue Insurance
    Quick references
    • What Type Of Investor Are You?
    • The Ultimate Guide To Getting Car Insurance In The Philippines
    • The Top 10 Most Fuel-efficient Cars Available In The Philippines Today
  • Deposits
  • Business Loan
    Small and Medium Enterprises Financial solutions within your reach
    • Business Loan
    • Small Business Banking
    • Small Business Insurance
  • TV & Internet
  • Blog & Forums
    What’s Hot Join the discussion, check the latest promos, and read up on informative, insightful, and inspirational articles
    • Banking Products
    • Insurance Products

    • Financial Forum
    • Ask an Expert
    Read our Blog
    • Banking
    • Insurance
    • Lifestyle
    • Promo
  1. Home
  2. Personal Loan
  3. How To Get Approved for Personal Loan In The Philippines

How To Get Approved for Personal Loan In The Philippines

Ever wonder why majority of loan applications in the Philippines got declined by banks and other loan service establishments out there? Mainly because they are not eligible to acquire for a loan due to strict requirements of lenders or lack of knowledge on how to make sure your personal loan will be approved. Though, there are numerous important areas banks or lending companies will be focusing on, it is vital that you are prepared to give the flawless, whole package for credit check for guaranteed personal loan approval.

If you’re planning to apply, here are some useful insights that might help you pass that background check and quickly get an approval for your loan:

  1. Open and maintain a savings account

    One way to show banks and lenders that you’re financially capable and responsible is to have your own savings account. Make sure that you contribute regularly to your savings. This will prove them that you are likely to be able to cope up regular loan repayments.
  2. Establish a decent credit history

    Your credit history will be your concrete evidence of your settlement behaviors and morals. Keep in mind that bounced checks, unpaid previous loans, credit card felony and such, can ruin your loan application process. However, an excellent credit history will provide you nothing but a favor loan to you.
  3. Be truthful

    As part of the loan process, banks will continuously verify all information that you have filled out in your application form. Expect a call from them to confirm these data. Make it a point that your line is always open because if they can’t reach you right away, your application will be rejected immediately.
  4. Uphold an outstanding credit rating

    Having a good credit history is essential, but it’s also important that you have decent credit rating. It will help to speed up the loan process. You must have a good account history with any companies that has provided you credit, either telecommunication companies or other financial institutions. Overlooked payments or debts might have a bad impression to your credit rating.
  5. Check if you are really qualify to apply for personal loan

    Before deciding whether you can apply for a loan or not, you must ask yourself these questions first:
    • Am I at a legal age?
    • Do I have a good credit rating?
    • Do I have a savings account on banks?
    • Do I meet the minimum income requirements of these organizations?
    • Do I have a job?
    • Am I capable of paying the monthly due in time?
    • How much do I want to borrow?
    If your answer is Yes to all of these questions, then no doubt you are finally ready to apply for a personal loan.
  6. Take time to check and compare loan interest rates and terms

    Taking time to search first before applying for a personal loan is a big help to you. Through comparison, you will not only get the best offers, but you can also find banks with lowest interest rate and short payment terms.

Compare Loan

Get a free quote from a wide variety of reputable banks

PHP

Need Help?

Contact our in-house experts for more details about our financial services. (02) 779 6912 Monday - Friday 9:00 am - 6:00 pm

Contact Me

Share this page

Facebook 0 Twitter 0 Google 0 Linkedin 0
As seen in
Product Comparison
  • Credit Cards
  • Loans
  • Insurance
  • Deposits
  • SME
  • TV & Internet
Calculators
  • Personal Loan Calculator
  • Housing Loan Calculator
Product Information
  • Banking Products
  • Insurance Products
Forum
  • Financial Forum
Blog
  • Banking
  • Insurance
  • Promo
  • Lifestyle
  • Ask an Expert
About eCompareMo
  • About Us
  • FAQ
  • Careers
  • Terms & Conditions
  • Privacy Policy
  • Disclaimer
eCompareMo - Philippine's Leading Financial Comparison Portal
(02) 779 6912
Monday - Friday 9:00 am - 6:00 pm
11781 Nicanor Garcia Street, Makati City 1210
  • Facebook
  • Twitter
  • Google Plus
  • Linkedin
© 2018 C88 Financial Technologies Pte. Ltd. eCompareMo.com has a license and registered trademark of C88 Financial Technologies (Group) Pte. Ltd., which is represented in the Philippines by SnapCompare Corporation. Contact eCompareMo.com at 1781 Nicanor Garcia Street, Makati City 1210. Disclaimer: All offers and product applications on eCompareMo.com represent current product data and does not bind the applicants before the contract has been signed and applied. Product information shown on the website of eCompareMo may change at any time without prior notice to keep all rates updated. ** Currently, some applications for credit card, insurance, and loan are only available in the National Capital Region (NCR).
Close panel
  • My Account
  • Menu
Credit Cards
  • Credit Card
  • Credit Card Types and Features
  • How to apply for a credit card in the Philippines
Loans
  • Personal Loan
  • OFW Loan
  • House Loan
  • Auto Loan
Insurance & Protection
  • Vehicle Insurance
  • CTPL Insurance
  • Property Insurance
  • Health Insurance
  • Travel Insurance
  • Personal Accident Insurance
  • Electronic Insurance
  • Dengue Insurance
Deposits
  • Time Deposit
Business Loan
  • Business Loans
  • Small Business Banking
  • Small Business Insurance
Other Services
  • TV & Internet
  • Ask an Expert
  • Financial Forum
  • Promotions
  • Blog
Sign in to your Account
Sign in to your Account

Access your account and fill out forms with required information in an instant.

Sign In
OR
Register
Sign in
Forgot your password?
Create an Account
OR
Cancel
Forgot your password

Please type your email address and we will reset your password for you. Instructions will be emailed to your email account.

OR
Cancel

Access your Account

Close dialog

Social Media Login

OR

Account Login

Forgot your password? Don't have and account yet? Get started
Back to top
Update

Call Schedule

Close Dialog

Please fill in your contact details and eCompareMo's customer service will get back to you, at your preferred appointment time.

Consent for storing personal data:

Thank you

Within 24 hours, an eCompareMo customer service specialist will contact you from the number you provided. Please answer our call so we can complete information requirements necessary to process your application.

Close Dialog