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Often, salaried individuals are on the lookout for some instant loans that are easy to get with payable rates of interest. Of all these personal loans in the Philippines, the one offered by most banks is an unsecured, personal loan for salaried persons with an instant cash loan of P 30,000 to P 1,000,000. Such loan applications are simple and easy to process and procure. They come with flexible interest plans and no collaterals. The interest rates are low and they are hassle-free methods of obtaining loans in the Philippines.
Here is a list of the array of the existing fast cash personal loans in the Philippines:
Car Loan: A car loan can be as fast as one-day cash release in the Philippines with low rates of interest. The documents required for it are the latest Official Receipt and Certificate of Registration with valid primary ID proofs. It will also require the latest proof of billing (electricity bill etc.) and a proof of the person’s income. Borrowers can also pledge their old vehicles and obtain fast cash on the same. Though not used widely, the car loan is fast and useful under many circumstances.
Doctor’s Loan: Medical practitioners can avail this one day release of cash in times when they need it. The lowest interest rate for this loan is something around 1.8%, and all that a person needs is a consultation with the right agent to avail it. The specialists who can avail the loan are general practitioners, veterinarians, optometrists, dentists, etc. However, thorough enquiry for the reasons of this loan will be required before he can avail it.
Business Loan: Fast cash personal loans can be a boon for micro-financing businesses, expansion purposes or for start-ups. The interest for these types of loans is generally 3% and the repayment options include a time period of 3 to 12 months. This is a non-collateral and non-secured loan for which a shorter period of payment is offered without any extensions. The documents required will be a DTI permit and SEC registration (in case of corporations), a mayor’s permit to operate the business, the latest bank statements over the last three months, two valid ID proofs, proof of billing and an application form.
Teacher’s Loan: The agreement to provide low interest, fast cash personal loans was signed by the Secretary Armin Luistro of the Department of Education and the Land Bank of the Philippines in 2014. The loanable amount is 500,000 or an equivalent of up to 8 months of their gross pay with low interest rate of 10.5% annually. The other loans available are the Agribank Puhunang Pangkabuhayn ng mga Namamasukan loan; and the Union Bank's City Savings loan.
Loans for buses, vans, trucks or any 10 wheeler: The ones eligible for this include vegetable trucks, delivery trucks, closed van, refrigerated vans, gravel delivery truck, and construction supplies truck. This type of collateral loan is ideal for those looking to grow business via micro financing using only the ORCR of your vehicle without taking your truck. This credit extension also applies to those who are looking for an extra finance to buy additional units either for additional taxi, second hand truck unit, bus, van and 10-wheeler”. Loans are also available for taxis and tricycles.
These are a few fast cash personal loans in the Philippines that Filipinos can avail of. Whether you want to start or improve your own business, to have a car or build a house, it has now become easy to go about it.
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