Updated: October 10, 2022
Medical loans in the Philippines
There are many reasons why you might need a medical loan. Perhaps you need to cover the costs of a surgery that isn't covered by your insurance. Maybe you need to pay for a medication that is too expensive for you to afford. Whatever your reason, medical loans can be a lifesaver. We will help with everything you need to know about medical loans in the Philippines. For example, to qualify for a medical loan, what the interest rates are like, and more! So, let's learn all about medical loans in the Philippines and apply for one!
Amount
Term (days)
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
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 Personal Loans
0.16%
Percent, per day
1000 - 25000 PHP
Amount
60 - 180 day
Term
Show more
Features
Early Settlement:
no
Guarantor:
no
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 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 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
How to Get a Medical Loan in the Philippines
A medical loan is a type of personal loan that helps patients cover the cost of medical procedures and treatments not covered by their health insurance. In the Philippines, there are many different options for medical loans. But how do you know which one is right for you? In this blog post, we'll give you an overview of how to get a medical loan in the Philippines so you can make the best decision for your needs.
1. Decide How Much You Need to Borrow
The first step in getting a medical loan is to determine how much money you need to borrow. This will give you a good starting point for comparing different loan options. Keep in mind that most medical loans have a minimum amount that you can borrow, so you may need to adjust your borrowing amount accordingly.
2. Compare Interest Rates and Fees
Once you know how much you need to borrow, the next step is to compare interest rates and fees from different lenders. Many medical loans have fixed interest rates, which means your monthly payments will stay the same throughout the life of the loan. However, some lenders may offer variable interest rates, so it's important to compare your options carefully before choosing a loan. In addition to interest rates, you'll also want to compare any fees associated with each loan option. These fees can include origination fees, closing costs, and prepayment penalties.
3. Consider Your Repayment Options
Another important factor to consider when choosing a medical loan is your repayment options. Some lenders will allow you to choose between a fixed monthly payment or a variable payment based on your income. Other lenders may require that you make a lump-sum payment at the end of the loan term. There are pros and cons to each repayment option, so be sure to choose the one that best fits your financial situation.
Conclusion
Applying for a medical loan in the Philippines is a relatively simple process. The most important thing is to compare your options carefully before choosing a loan so that you can find the best rate and terms for your needs. With careful planning and budgeting, a medical loan can help you cover the cost of unexpected medical expenses and get the care you need without putting a strain on your finances.
Fintree Philippines
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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.