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How Do I Get a Loan?

fastloan247.com is a service that helps you get loans. Loans up to ₱ 25000 are issued for a period of four months to citizens of the Philippines aged 18 or older. The loan amount depends on the terms set by your financial institution. We cannot guarantee that each lender will offer you a loan for the maximum amount with the longest repayment period.

The main requirements to the borrowers are:

  • Legal citizenship in the Philippines
  • 18–65 years of age
  • A valid SSS or TIN, and UMID card
  • Any form of income (official or unofficial)

Generally, it can take up to 30 minutes to apply and get a decision. All you need is specify how much you would like to borrow and for how long, fill out a basic form (name, ID, etc.), and send it through our service. We will give you a list of lenders who have a pre-approved loan for you. Next, you choose a loan and read through the terms and conditions. If you decide to accept the terms, the lender will credit the money to your account or credit card. You can complete your loan application at any time, there are no obligations to commit to anything.

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Responsible Lending

fastloan247.com matches loan offers to customers, acting as an intermediary between them and licensed financial institutions. fastloan247.com is not a financial institution, bank, or lender. It is not responsible in any way for loan agreements or terms. All calculations are approximate. Please check the lending institution’s website for the relevant terms and conditions.

Repayment Periods and Interest Rates

The APR is the cost of borrowing a loan, expressed as a nominal annual interest rate. As fastloan247.com is a credit broker and not a lender, we cannot guarantee a particular annual percentage rate. Annual percentage rates typically range from 0% to 36%. Repayment periods for loan products usually range from four months to six months. Before accepting a lender’s offer through our system, please make sure to read through the loan agreement carefully, since interest rates and repayment terms may differ from those listed on this website.

Collection Policy

Most lenders will contant you through regular mail, email, or phone to change your payment terms. Failure to pay may result in interest accruals and/or increases and may affect your credit score. Continued failing to pay may result in the lender transferring your debt to a collection agency, which will lead to additional fees.

Consequences of Nonpayment

fastloan247.com always recommends repaying on time. If you cannot, each lender has their own policies on fees/interest and how they handle debt collection. Most lenders will contact you by regular mail, email, or phone to change your payment terms. Nonpayment may result in penalties and/or increased interest. We recommend that you contact your lender as soon as you know there is an issue; otherwise, your credit history may get affected.

Late Payments

If you are unable to repay within the loan period, you need to contact your lender right away. Lenders may charge a fee for late payments, which averages about 0.03% of the amount owed for personal loans and credit cards. Please remember that you will likely incur additional fees if you pay late or not at all, which could add up. For more information about late payment fees, please contact your lender directly and be sure you have read the terms in your loan agreement.

Extensions

If you would like to extend your loan, you should contact your lender before missing a payment. Most lenders charge the same interest rate and commissions for another month on the total amount due. The loan may be renewed or extended automatically in the event of late or nonpayment. Additional interest and/or fees may be charged to your account. Please, think carefully before extending your loan, as doing so may substantially increase the amount you pay.

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