Lending Companies in San Pablo
Lending occupies a special place in the general financial system of the Philippines and plays an important role in the modern market economy. It contributes to improving the financial condition of population groups with different income levels.
The subjects of lending are lenders and customers. The lender is a bank or other credit institution that provides borrowed funds in the amount and on the terms stipulated by the agreement. The customer receives the funds for use and is obliged to return them within the prescribed period.
Philippine lending is subject to general terms and conditions, which include the following:
- Loans are provided to low-income adult Filipino citizens;
- The size of the loan is determined based on the assessment of the borrower’s solvency but cannot exceed the limit value established for a specific type of loan;
- The borrower’s solvency is assessed based on the rate of the average monthly salary for the last six months or according to the income statement for the previous year;
- Availability of ensuring the timely and complete fulfillment of the borrower’s obligations (guarantee contract, property pledge contract, etc.);
- The borrower pays annual interest to the lender for using the loan.
If you want to get a loan in the Philippines, San Pablo, you can easily find a lender. But it is recommended to cooperate only with legal SEC-registered lending organizations to obtain the most profitable financial services without the risk of fraud.
| Company | Loan Amount (PHP) | Interest Rate | Loan Term |
|---|---|---|---|
| Digido | 1,000 – 25,000 | From 0% to 11.9% | Up to 30 days |
| MoneyCat | 500 – 20,000 | Up to 11.9% per month | Up to 180 days |
| Kviku | 500 – 25,000 | 1.2% per month | Up to 180 days |
| Cashspace | 1000 – 25,000 | 1.3% per month | 2 – 4 months |
Most Popular Legit Lending Companies in the City of San Pablo
The top 3 best San Pablo lending companies with SEC registration are described below. Please check their loan conditions.
ALPS Finance Corporation
The SEC-registered credit agency ALPS Finance Corporation is located at 38CG+Q3G Brgy, Col Lauro Dizon St, San Pablo City, 4000 Laguna, Philippines. It provides a wide range of financial services to Filipino residents, including money shops, allottee loans, salary loans, chattel mortgage loans, pensioner`s loans, real estate mortgages, honorarium loans, etc.
Loan amounts are up to ₱2,000,000. Interest rates range from 8.00% to 20.00% per annum. The repayment terms are flexible and depend on the type of loan taken. The main requirements for applicants are age from 21 to 60 years old, stable income, and citizenship or temporary residence in the Philippines.
ALPS Finance Corporation branches are located throughout the country. So, you can visit not only the San Pablo branch but also subdivisions in Lucena City, Lucena City, Mendez City, Sariaya, etc.
Dolores Makatao Lending Corporation
This is another popular lending company in San Pablo with SEC registration, with address: 051 Inocencio Barleta St, Brgy, San Pablo City, 4000 Laguna, Philippines, and phone number: +63 49 503 0512.
The company deserves trust due to its extensive experience in the Philippine financial market. The range of services is wide and includes payday loans, personal loans, home loans, business loans, auto loans, etc. Loan terms are favorable. No collateral is required. Borrowers can receive up to ₱1,000,000 or even more, depending on their creditworthiness. Interest rates are 3.00-5.00% per month. Loan terms range from 1 month to several years. The requirements for borrowers are about the same as ALPS Finance Corporation has.
Laguna Lending Corporation
Laguna Lending Corporation is an SEC-registered banking organization with branches in Sariaya, Nagcarlan, Lopez, Candelaria, San Pablo City, etc. San Pablo branch address: 38 Colago Avenue, San Pablo City, 4000 Laguna, Philippines. Branch phone number: +63 (49) 521 0448.
Laguna Lending Corporation’s lending conditions differ slightly from those of ALPS Finance Corporation and Dolores Makatao Lending Corporation. The first significant difference is in the requirements for borrowers. They are wider. To get approval, you need to provide a number of documents (valid ID, 2 photos, proof of income, proof of address, etc.). The second important difference is in the available loan amounts. They can be up to ₱30M. Interest rates: 2.5-5% per month. Repayment term: up to 20 years.
The company conducts a strict credit check. Therefore, the application processing usually takes 2-5 days.
Top OFW Lending Companies in San Pablo
The term OFW refers to overseas Filipino workers who work in other countries. They usually leave home to earn money. Remittances from overseas Filipino workers help support the country’s economy. In addition, they pay taxes to the state.
But sometimes, overseas Filipino workers experience financial difficulties and need support. Many lending institutions offer OFW loans that can be used for different purposes. Requirements are usually minimal, and payment options please everyone. The top 3 OFW lending companies are described in the paragraphs below.
Bank of the Philippine Islands (BPI)
BPI has branches throughout the Philippines. San Pablo branch address: Bonifacio Street, cor Rizal Avenue, San Pablo City, 4000 Laguna, Philippines. The phone number that can be used to contact the lender is +63 49562 0640.
By applying to BPI, you can borrow up to 3x your monthly income, from ₱20,000.00 to ₱1,000,000.00. Interest rates range from 25.03% to 25.60% per annum. The minimum repayment period is 1 year, and the maximum is 3 years. The requirements for borrowers are simple:
- Age from 21 to 60 years;
- Employment for at least 2 years;
- Minimum monthly income of ₱25,000;
- Filipino citizenship.
The approval period is usually 7-10 banking days.
Banco de Oro (BDO)
BDO is another SEC-registered lending company that deserves attention. Its address is 2/F, Equitable PCI Bldg Rizal St. cor, P. Alcantara Street, San Pablo City, 4000 Laguna, Philippines, and phone number: +63 49561 1881.
Loan products and payment options are diverse. But the loan amounts available are slightly lower than the Bank of the Philippine Islands offers. Thus, you can request a maximum of ₱500,000 for 6 to 36 months. APR is relatively high: 39.43% – 40.05%. Other fees are ₱1,200.
Borrower requirements are mainly about age (21-60 years old), employment (2 years continuous employment contract), income (minimum ₱20,000 per month), and telephone (must have at least one landline).
Asia United Bank (AUB)
AUB is one of the most well-known SEC-registered Philippine lending companies. Its branches are located in Quezon City, Pasig, Manila, Taguig, Parañaque, San Juan, Valenzuela, Pasay, Las Piñas, Makati, Mandaluyong, San Pablo, etc. San Pablo branch address: 389G+HGC, Marcos Paulino Ave, San Pablo City, Laguna, Philippines.
AUB Seafarers loans are very popular among those working abroad. Loan amounts are up to ₱500,000. Loan term: up to 10 months. Interest rates are low, around 1.5% per month. The application processing process is fast, usually no more than 24-48 hours.
Requirements for OFW borrowers:
- Age from 21 to 60 years;
- Minimum gross salary of 1000 USD;
- Filled out loan application;
- Copy of the passport;
- Copy of Seaman’s Book.
Review the table to select the right OFW lender.
| Bank of the Philippine Islands | Banco de Oro | Asia United Bank | |
| Loan amount | ₱20,000.00 -₱1,000,000.00 | up to ₱500,000 | up to ₱500,000 |
| Interest rate | 25.03% – 25.60% per annum | 39.43% – 40.05% per annum | 1.5% per month |
| Loan term | 1-3 years | 6-36 months | up to 10 months |
It is not difficult to choose an OFW lending company and get financial assistance today. Many lenders offer OFW loans to people with low income. But the choice of an institution should be based on a detailed study of financial services, loan products, APRs, payment methods, and borrower requirements.
San Pablo Lending Companies With Low Interest
Citi might be a good choice if you’re looking for low-interest financial companies. Its monthly interest on personal loans is 1.3%. HSBC also deserves your attention, as it charges 1.22% for the use of loan funds per month. BPI monthly fees are 1.5%, and EastWest Bank charges 1.89%. Feel free to contact one of these lenders and request the necessary amount of money at favorable interest rates.
FAQ on Lending Companies in San Pablo
Is private lending legal in the City of San Pablo?
Private lending is allowed in the city but not legally regulated. It involves using the financial services of a private individual and not a financial institution. This type of lending has its pros and cons. The advantage is that you can easily negotiate with a private lender if you cannot return the money on time. The disadvantage is the high risk of fraud.
How can I get a loan from a lender in San Pablo?
A few simple steps will allow you to get the money you need. Firstly, choose a reliable, legally operating financial institution. Secondly, fill out a loan application. Thirdly, get approved.
Can you get a loan for 3 months in the City of San Pablo?
It is possible to get a loan for three months. Different lenders offer different loan terms. Therefore, you will certainly find what you are looking for. In this case, a good choice would be Asia United Bank, ALPS Finance Corporation, Dolores Makatao Lending Corporation, etc.
What is the largest San Pablo financing company?
Asia United Bank is rated as the largest financing company in San Pablo. Its quality loan products are in demand throughout the country.
