Choosing the Right Personal Loan This Summer

UnionBank offers the lowest monthly add-on rate in the Philippine market at 1.26%, making it a top choice for those seeking minimal interest costs. While its EIR reaches 31.98%, the fully digital application process offers convenience. It's best for borrowers looking for extended terms up to 60 months.

BDO Unibank stands out with its predictable ACR range of 25.98-26.76%, providing stability in costs. As the largest bank in the Philippines, it offers an extensive branch network and an online calculator for transparency. Ideal for those who prefer in-person banking and predictable pricing.

RCBC Pasado Loan is the option for those needing substantial funds, with a ceiling of ₱5 million. Its flexible terms and competitive starting rates make it suitable for borrowers planning major projects or long-term financing.

Metrobank offers a stable choice with tiered rates starting at 1.25% for longer terms. This is particularly appealing for those who value branch access and can commit to 24-36 month terms to benefit from lower rates.

BPI provides one of the most competitive rates from 1.20% monthly, appealing to existing clients looking for a seamless loan experience without collateral requirements. It's tailored for those who already bank with BPI.

SB Finance caters to freelancers and OFW beneficiaries with loans up to ₱3 million and a welcoming policy for self-employed individuals. Despite a higher APR of ~39.43%, it's accessible for those outside traditional bank criteria.

Tonik Quick Loan is ideal for first-time borrowers needing credit-building without an existing credit history. Its entirely app-based process and fast disbursement make it convenient, though the 4.20% rate is higher than traditional banks.

CTBC Bank's Salary Stretch Loan offers competitive add-on rates from 1.39% and requires no processing fee, appealing to salaried individuals and self-employed professionals seeking a straightforward loan option.