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-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

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

© 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.