June 13 2022
Short term loan with bad credit score
Best online loans
Sometimes unforeseen expenses arise that surprise us with empty pockets and that cannot wait for a payroll to be collected. In situations like this, requesting a short term loan in online application can be the solution, since it is easily obtained from home and in just 15 minutes.
If you want to know more, we will tell you everything about short term loans, what they consist of, what options you have and how to contract the loan today.
At Moneytochka.com we show you different offers from private lenders that grant quick credits without papers for any occasion. So no matter what situation you are in, we have the most suitable offer for you.
What are you waiting for? Check, compare and request your short loan credit with a single click.
What is a short term credit?
If you have had the need to obtain urgent money to pay for an unexpected expense and get out of trouble, you will know that banks and savings banks are not the best option to ask for financing. These entities require a lot of paperwork and take up to several days to give a response, not to mention that many times the requests are rejected.
With express credits, requesting credit has never been easier. And it is that, unlike bank loans, it is a type of financing that is requested through the internet, without paperwork, without bureaucracy and in 15 minutes.
How does it work?
Thanks to these loans, you do not need to leave home or spend long hours queuing in an office. You also do not need to gather hundreds of papers and documents that only delay the whole process. Being granted by online financial companies, you only have to go online, say how much money you need and fill out a web form so that the credit is yours.
When applying for express credit, you can request online microcredits or small loans to cover small expenses, or you can request larger loans to finance large projects or expenses.
As you will see, from our platform you can request from 1000 pesos to credits of 50 000 pesos expressly and online. The amount you request will depend on your needs, as well as your financial possibilities. Remember that you should never ask for more than you can pay because, otherwise, you run the risk of going into debt.
terms Depending on the amount of money you need, you can return the credit in short or longer terms.
In the case of low amount loans, the term is usually from 30 to 90 days, although if you need more time, you can also request 6-month loans. On the other hand, for higher amount loans, you can count on terms of up to 3 years to repay.
Interest on short term loan
The interest on an express loan will depend on the lender, as well as on the amount and repayment term. We recommend that you return the credit as soon as possible, since the longer you delay, the more interest you will have to pay.
However, many times you have the option of taking out a free first loan. This means that you do not have to pay interest or commissions, but it is an exclusive offer offered by entities to new clients.
Requirements to contract quick credits online
In order for your short term credit request to be approved, you must first meet some basic requirements common to most entities:
- Be over 18 years of age.
- Reside in Philippines
- Have a valid SSS.
- Be the holder of a bank account in Philippines.
- Have an active mobile phone number and email.
As you will see, you do not need so many conditions or paperwork to request a credit of this type, that is why it is so easy and fast to obtain it, although entities such as online application Moneycat loans may ask for additional requirements, such as having a debit account associated with the account.
Express credit without endorsement or payroll
Because they are fast credits, paperwork is reduced to a minimum. That is why you do not need to provide any guarantee as collateral for the payment of the loan. On the contrary, you can request loans without collateral, although for this you must have good solvency.
In case you're wondering, you don't have to be on a payroll to receive financing either. In fact, you can request your loan without payroll being self-employed, pensioner or unemployed, just by having enough income to pay the loan.
Short term loan with bad credit score
If you have bad credit history it is usually a problem when requesting financing, but it is not an impediment to getting these quick credits. Some online finance companies grant loans with bad credit score, so they do not take into account the credit history of the applicant. So, if you are in this solvency registry, you can still request your express credit with bad credit history.
However, the amount of these loans is usually low, so it will be difficult for you to get loans of more than 10,000 PhP in default.
How to request short term credit online in the Philippines?
Although each lender works differently, the express credit application process is usually the same in most cases. Thus, to get your credit instantly, you just have to follow these steps:
To start, choose one of the lender offers that we present to you at the beginning and click on the REQUEST.
Once inside the platform of the entity, select the amount and the term in which you want to return the money.
Next, fill in the registration form with your personal and bank details.
The lender will confirm your information and then you will receive the response to the request. Since these are express credits, it is likely that you will use the Instantor to verify your identity more quickly.
Finally, if the request has been approved, you will receive the money in your bank account in just 15 minutes.
However, you should know that the transfer may take a little longer if your bank is not the same as your lender's. If so, it can take up to 48 hours for you to receive the money.