Banks in the Philippines

        Banks in the Philippines

Times When Banks Are Your Best Option When You Need Financial Lending

Loan amount ₱30,000 - ₱2,000,000
Interest 29.48 %
Maturity 12 - 36 months

Fast information

Properties of this loan

  • Online loans up to ₱2 000 000
  • Term 12 - 36 months
  • Easy bank application

Loan requirements

  • 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

About company

More information about the company Security Bank Corporation

Borrow from ₱30,000 with interest from the 29.48 % Moread
Loan amount ₱1 - ₱500,000
Interest 5 %
Maturity 1 - 12 mnths

Fast information

Properties of this loan

  • Variety of credit cards
  • Secure and premium cards
  • Term 1 - 12 months

Loan requirements

  • Must be a Philippine citizen
  • If employed, must be at least two years permanent work status with one year tenure in current employer
  • Must have a Philippine mailing address and active local mobile number

About company

More information about the company Rizal Commercial Building Corporation (RCBC)

Borrow from ₱1 with interest from the 5 % Moread
Loan amount ₱10,000 - ₱10,000,000
Interest 5.9 %
Maturity 1 - 25 years

Fast information

Properties of this loan

  • Online loans up to ₱10 000 000
  • Term 1 - 25 years
  • Easy bank application

Loan requirements

  • Must be at least 18 years old
  • Must be a Philippine citizen

About company

More information about the company Metrobank

Borrow from ₱10,000 with interest from the 5.9 % Moread

        Banks in the Philippines

A significant number of Filipinos have incurred a debt in the past or they are currently servicing a loan. Existing research from BSP illustrates that for the Filipinos who borrow money, the majority prefer informal options – friends, relatives, family and informal lenders. Surprisingly, banks in the Philippines came lower after microfinance companies, NGOs, cooperatives, and financing companies.

Perhaps  the reason banks statistics are low could be because many Filipinos don’t use banking services. BSP estimated that roughly 70% of Filipinos did not have a bank account.  Approximately 60% of Fipinos who don’t have a bank account said they have minimal funds to save in the bank. Also, the fact that banks have a tough screening process may influence some people to shy away. 

Still, if you are determined to pass through the rigorous process, which can be fairly lenient for some financial institutions, a bank loan can come with friendly terms and a flexible repayment structure. 

Loan from banks in the Philippines vs. online lenders

How did your first-time loan hunting go?

Chances are: you had no specific lender in mind, and your prime goal was to get the cash for whatever need you had in mind in the shortest time possible.  The reality is that loan searching can be stressful – there is more to it than just picking the right lender, and satisfying the conditions of the loan. 

If you are applying for loans for the first time, it is likely to overlook where you will obtain the loan – the different lending options available. At first, you may be tempted to swing with any of the options that come your way. Your priority could be focused on where to get a loan, and get approved fast.

But pause! Not so fast, friend. You have some deliberation to do.   

With hundreds of loan products available in the Philippines, settling for one specific option, which could be a first thing to do, can be confusing.

There are moments you can feel lost sieving through the long list of loans available. You can only apply for one loan, maybe two loans.

Now, you will want to narrow down your search. A huge dilemma that can present itself could be: to go with banks loans or online loans?

Online loans are offered by private lenders through the internet.

No doubt, online loans from private lenders have some advantages over bank loans. For example, loans from private portray characteristics like:

Bank loans: 

In contrast, while banks loans may come with strict requirements and an extended wait time on the loan approval, they do rival online lenders in some ways. 

With private lenders, anticipate paying heft-interest rates. While some lenders may entice you with low-interest rates, the loan might end costing more by the time you repay it compared to a bank.  A bank loan may come with long wait time and a stringent approval process but on the bright side, the loans carry a low credit risk.

With banks, the loan comes with a structure repayment terms, making it easy for you to accurately plan for the future. 

5 Banks in the Philippines with the best loans

Here are five banks in the Philippines with best loan products.  Applying with any of these banks is a good start when seeking financial help.

1. Citibank

Citibank Philippines is a subsidiary of the US Global Bank Citigroup Inc.  The bank deals with a wide range of services, and it has served Filipinos for the longest.  Citibank offers banking services, credit cards, loans, insurance, investments, and wealth management programs.  

Loan products features:

Typical requirements:

2. HSBC Bank

HSBC is an international bank; it’s not only based in Asia. HSBC is one of the banks that offer Filipinos affordable installment terms, and low interest rates. The bank offers services to individuals, business, and private investors.

Loan products’ features:


3. Bank of Philippines Island (BPI)

Based in Makati City, BPI is one of the oldest banks in the Philippines. With BPI bank, you can get up to three times equivalent of your gross salary.  

BPI offers diverse financial services including everyday banking services, loan products, credit cards, investment options, insurance covers, and digital banking.

Loan product features:


  1. Minimum income requirement (gross): PHP20,000.
  2. Have stable income source (must provide proof of income).
  3. Provide necessary documents: Valid IDs, proof of income, etc.

4. Security Bank

Security bank is yet another banking institution where you can get a selection of loan products at affordable prices and flexible repayments. Security bank avails several types of loans, including home loan, personal loan, car loan, employee loan, and salary advance. Apart from that, the bank offers Savings and Checking Account services, credit cards, and investment options.

Loan products features:


  1. Ages: 21-61 years.
  2. Minimum monthly requirement (Gross): At least PHP15,000 if employed; PHP30,000 for self-employed.
  3. Submit relevant documents: Duly signed application form, government-issued ID, proof of income documents, (Payslip, BIR Form, COE). For self-employed individuals you need to submit business permits, Audited Financial statements, and bank statements. 

5. EastWest Bank

It is hard to mention the top 10 or even five best banks in the Philippines. The bank is a subsidiary of the Filinvest Group, and the corporation has served Filipinos since 1994, offering various types of financial products and services. The bank provides Filipinos with Deposits account services, credit cards, debit and prepaid services, loans, investments, and cash management programs. You can apply for loan products like home loans, car loans, personal loans, and pre-sold property.

Loan products features:


  1. Ages between 21 and 61 years.
  2. Minimum monthly requirements (gross): PHP15,000.
  3. Have a landline or mobile phone number.
  4. Submit relevant documents: Copies of latest BIR FORM 2316/ITR, latest payslip, a statement of accounts for a credit card you own or reference no, certificate of employment, etc.

How to increase your chances of getting approved for a loan by banks in the Philippines

When applying for a bank loan, you can always increase your success rate by doing the following:

Final Thought

There is a notion that banks are not the best option when you need money quickly and with a guaranteed approval.  Often, credit goes to private lending companies for their lenient and fast approval of loans. However, loans from banks come with fixed repayments, lower interest rates, and longer-repayment terms. With a bank loan, you can have peace of mind when making repayments.

Banks in the Philippines rating: 4.5/5 from 833 votes.


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