Updated: July 11, 2022

Loans for pensioners online

In the Philippines, there are many loans available for pensioners. If you are a senior citizen and you need money for something important, then you may be able to get a loan from a financial institution. We show you how to get loans for pensioners in the Philippines and also provide tips on choosing the right loan for your needs. So if you're interested in learning more, keep staying!

Amount

Term (days)

moneycat-logo.svg

MoneyCat Loans

CS201953073

0.4%

Percent, per day

1000 - 25000 PHP

Amount

90 - 180 day

Term

Show more

Features

APR:

from 145 up to 365%

Review time:

1 day

Early Settlement:

no

Guarantor:

no

Client

Age:

20 - 60 years old

Citizenship:

Required

Employment:

Required

Proof Income:

Not required

Disbursement & Repayment

Disbursement time:

1 day

Disbursement methods:

Bank Account;

Repayment methods:

Dragon Pay; GCash; Online Payment;

Pros & Cons

Pros:

You can easily get a loan, in a few steps

You only need to spend 5 minutes to register

You don't have to go to the bank and stand in line. The entire process of obtaining a loan takes place online through a phone, tablet or computer

Cons:

High interest rate

Details

MoneyCat is a financial company that will help you quickly and easily get a loan within 24 hours online. You need to fill out the registration form on the site and go through a quick verification, after which the money will be transferred to your bank account

logo-digido.svg

Digido loans

CS202003056

0.1 - 0.4%

Percent, per day

1000 - 10000 PHP

Amount

10 - 180 day

Term

Show more

Features

APR:

from 143%

Review time:

1 day

Early Settlement:

no

Guarantor:

no

Client

Age:

21 - 70 years old

Citizenship:

Required

Employment:

Required

Proof Income:

Required

Disbursement & Repayment

Disbursement time:

1 day

Disbursement methods:

Bank Account;

Repayment methods:

GCash; Dragon Pay; Online Payment;

Pros & Cons

Pros:

Fast processing of the application within 24 hours

There are no additional payments. Only payments under your loan agreement

Cons:

If you do not pay on time, the credit company may charge you an additional penalty

Details

Digido is an online lending company that has a state license and permissions to provide lending services. You can apply for a loan simply and quickly through the company's website, remembering the registration form. The answer to your application will come within 24 hours and within 24 hours after approval you can receive money to your bank account

kviku-logo.svg

Kviku Personal Loans

0.16%

Percent, per day

1000 - 25000 PHP

Amount

60 - 180 day

Term

Show more

Features

Early Settlement:

no

Guarantor:

no

unacash-logo.svg

UnaCash Personal Loans

0.3%

Percent, per day

2000 - 30000 PHP

Amount

61 - 180 day

Term

Show more

Features

Early Settlement:

no

Guarantor:

no

bdo.png

BDO Personal Loans

0000034001

1.25 - 1.3%

Percent, per month

10000 - 1000000 PHP

Amount

6 - 36 month

Term

Show more

Features

Early Settlement:

yes

Guarantor:

no

Client

Age:

21 - 70 years old

Min. Salary:

180000 PHP

Citizenship:

Required

Employment:

Required

Employment Details:

Regular employee or self-employed firm with at least two years of operations

Proof Income:

Required

Disbursement & Repayment

Disbursement methods:

Bank Account;

Repayment methods:

Bank Cash Payment;

Unionbank.png

Unionbank Quick Loans

0000036073

4%

Percent, per month

1000 - 1000000 PHP

Amount

1 - 12 month

Term

Show more

Features

Early Settlement:

no

Guarantor:

no

Client

Age:

21 - 65 years old

Citizenship:

Required

Employment:

Required

Proof Income:

Required

Loans For Pensioners In The Philippines: How To Go About Getting One

Are you seeking a loan for pensioners that affords more financial freedom? Perhaps your current pensions cannot foot your budget or upcoming events. Whatever your reasons are, there are loans senior citizens can access from different lenders across the Philippines.

In this piece, you'll find the best pensioners loan companies giving loans for pensions. Moreover, you'll also find the general requirements pensioners loans providers request from seniors who intend to apply for pension credit. Following is a straightforward guide to getting a pension credit guarantee in the Philippines.

What Are Pensioners' Loans?

Lenders sometimes give retirees what they term a "pension loan", meaning seniors who are already receiving pensions from the government can access additional money and repay with interest.

Can Aged Persons Get A Loan?

Aged persons can access credit facilities in the Philippines, usually when they're not up to 70 years. However, some lenders could give pensioners above 70 years loans on specific conditions.

How To Apply For Pension Credit In The Philippines

Loans for pensioners are accessible by submitting an online application on the company's website. Next, you want to fill out the appropriate forms, familiarize yourself with the contract, accept its terms and append your signature.

If approved, you can receive your cash in your bank account within 24 hours or less, depending on the lender.

Where To Get A Loan For Pensioners In The Philippines

Many persons are aware of how to get a loan from a pension from the government and commercial banks. However, several Philippine financial services platforms have made getting pensioner loans online more straightforward.

We cover all the primary ways to access pension credit benefits in the Philippines.

Government Approved Pensions Credits

If you're a retiree who worked as a civil servant, you can access a loan for senior citizens from the Philippines government. The Social Security System pension loans are the primary ways the government does that.

Private Lenders

Credit options are also available with private lenders in different categories, including pensions credit, personal loans, fast credit, payday loans, etc. Regardless of the credit's designation, private lenders often have fewer requirements to give seniors loans.

Usually, the applicant would need to present only a valid ID card and a filled form. However, these pensions loans have interest rates that could be higher than government pensions credits, especially with bad credit.

Online Lenders

Accessing pensions loans online is straightforward with the many online lenders available in the country. However, you want to choose your online lender carefully to avoid borrowing from lenders with poor customer service.

Best Pensioner Loan Programs

Apart from government SSS pensions loans, some private companies offer beneficial loans for retirees in the Philippines. Following are some of the best pensioner loan programs in the country.

1. DiGiDo Loan

For first-time borrowers, this online pensions loan company offers up to PHP 10,000.00, payable within 7 days, with a special interest-free offer. That said, return borrowers can get up to PHP 25,000.00, payable within 5-35 days, at a daily interest rate of 1.5%.

2. MoneyCat

MoneyCat is another online lender pensioners can patronize. They offer borrowers up to PHP 20,000 within 24 hours and pre-inform them about the terms and conditions of the credit.

3. Online Loan Pilipinas (OLP)

You can get an interest-free pension loan online of up to PHP 7,000 for 30 days on your first application with OLP. Per subsequent applications, Online Loan Pilipinas offers up to PHP 30,000 for up to 30 days.

4. UnaCash

With UnaCash, seniors can borrow up to PHP 50,000, payable over six months. Interest rates vary between 0-16%.

5. Kviku

Kviku would loan pensioners up to PHP 25,000, payable over 3-15 months. The daily interest rate is 0.1%.

Requirements For Pensioners Loans

While different organizations offering pensions credit may have specific requirements for citizens to enjoy their offers, there are general requirements of most pensioner loan program providers. These include:

  1. The applicant must provide verifiable contact and personal information of their next-of-kin.
  2. The applicant's age is up to 70 years (pension loans for seniors over 70 years are issuable to individuals where the applicant's health meets the lender's minimum demands).
  3. The minimum pension offers go for PHP 10,000.
  4. General loan terms range from 1 day to 2 years.

Short FAQs

Aside from the government, many companies offer loans for pensioners online. Below is a short Frequently Asked Questions section where we provide answers to some questions that you may have about accessing pensioner loan programs with or without credit checks in the Philippines.

1. How Much Loans Can a Pensioner Get?

The maximum amount a pensioner can obtain from a pension loan program varies from lender to lender, ranging from PHP 25,000 to PHP 500,000.

2. How To Get A Pension Loan With No Credit Check?

Getting guaranteed pension credit without credit checks in the country is straightforward as long as the applicants have a valid ID card, and a bank account to their name, with several online pension loan providers.

3. Do Banks Give Loans To Pensioners?

Different banks in the Philippines give pension credits to retirees up to age 70. Examples of such banks include Penbank, Philippine Veterans Bank, and Philippine National Bank.

Conclusion

We've seen that getting pensions loans from lending companies is feasible once you or your seniors meet the minimum requirements. Additionally, you've discovered that other companies provide loans for pensioners other than government-approved pensions loans.

Online pensions loans are often the most straightforward to get. However, you want to choose carefully which online lender borrows money from as a retiree to avoid fraudulent websites and potential fraudsters.

While you increase your chances of getting approved for a pension loan by improving your credit history and paying your new loans on time, some online lenders wouldn't conduct credit checks before giving you or your elderly ones an offer. You may want to compare different pension loan lenders before choosing any senior citizen loan option.

Fintree Philippines

© 2022 Fintree.ph


Disclaimer: Fintree Philippines is a loan comparison site that helps users find the best options for their needs. We are not a financial company and we do not provide loans ourselves. We work with a number of trusted partners to offer users a range of loan options to choose from. We don't charge the user for choosing a loan, but we do get a commission from our partners. Please read the terms and conditions of the lending organization carefully before you accept it and make sure you will be able to pay it back on time.