Which bank or app has the lowest personal loan rate in the Philippines?

As of June 2026, the lowest headline monthly rates come from Maya (0.77%), UnionBank (1.25%), RCBC (1.3%). But almost all are add-on (flat) rates, so the true effective cost is roughly double the headline — and your actual rate is often personalized. Banks offer larger amounts and lower rates but slower approval; apps approve in minutes but cost more.

Why is the real cost of a personal loan higher than the monthly rate?

Most Philippine personal loans use a monthly add-on (flat) rate, where interest is charged on the full original amount for the whole term. Because you're paying down the balance over time but still paying interest on the full amount, the effective interest rate is roughly double the add-on rate.

Best Personal Loans in the Philippines

Compare banks and apps on rate, loan amount, approval speed, and eligibility — ranked by headline monthly rate. Rates as of June 2026.

Note: links go to each provider's official site. We don't currently earn a commission from them, and rankings are ordered on the merits, not on payouts.

Read this first — the "add-on rate" trap:

Almost every personal loan here quotes a monthly add-on (flat) rate. Interest is charged on the full amount for the whole term, so a "1.5%/month" loan really costs around 30%+ effective per year, not 18%. Always check the true monthly payment with the personal loan calculator before you borrow.

The quick answer (June 2026):

Lowest headline rates: Maya (0.77%), UnionBank (1.25%), RCBC (1.3%).
Biggest amounts: banks (RCBC, UnionBank, BPI) — up to ₱2–5M, but slower approval.
Fastest cash: apps (Maya, GCash GLoan, Tonik, Home Credit) — minutes, but smaller and pricier.

Maya Personal Loan

Digital bank

0.77%/mo add-on*

Headline 0.77%/mo; personalized up to ~2.57%/mo by credit evaluation.

Active Maya users wanting a fast small-to-mid loan
Range. ₱15,000 – ₱250,000 · 6 – 24 months
Approval. Minutes (in-app)
Income. No published minimum; based on your Maya account activity
As of June 2026 · confidence: high

Visit Maya Personal Loan

UnionBank Personal Loan

Bank

1.25%/mo add-on*

Add-on ~1.25%–1.75%/mo, personalized (sample ACR ~26%–37%). Effective cost on a reducing basis is much higher.

Existing UnionBank cardholders wanting a fast, larger loan
Range. ₱50,000 – ₱2,000,000 · 12 – 60 months
Approval. As fast as 5 minutes (all-digital)
Income. ₱250,000/yr (₱20,833/mo); usually needs a UnionBank card
As of July 2026 · confidence: medium

Visit UnionBank Personal Loan

RCBC Personal Loan

Bank

1.3%/mo add-on*

~1.3%/mo add-on (indicative; RCBC doesn't publish a fixed rate).

Stable-income borrowers wanting a mid-to-large bank loan
Range. ₱20,000 – ₱5,000,000 (lower in practice) · 6 – 60 months
Approval. ~5–7 banking days
Income. ₱15,000/mo (with credit history) or ₱25,000/mo
As of July 2026 · confidence: medium

Visit RCBC Personal Loan

BPI Personal Loan

Bank

1.35%/mo add-on*

1.35%/mo add-on (max ACR 28.67%). BPI's ₱20k/12-mo example totals ₱23,240 (principal + interest), before a separate processing fee.

Documented-income borrowers wanting a larger fixed-rate bank loan
Range. ₱20,000 – ₱3,000,000 (up to 3× monthly income) · 12 – 36 months
Approval. ~24 hours online
Income. ~₱300,000/yr (₱25,000/mo)
As of June 2026 · confidence: high

Visit BPI Personal Loan

Security Bank Personal Loan

Bank

1.39%/mo add-on*

Starts at 1.39%/mo add-on.

Salaried/self-employed borrowers wanting an unsecured bank loan
Range. ₱30,000 – ₱2,000,000 · 12 – 36 months
Approval. As fast as 5 banking days
Income. ₱15,000/mo (Metro Manila) / ₱12,000/mo (provincial)
As of June 2026 · confidence: high

Visit Security Bank Personal Loan

GCash GLoan

E-wallet

1.59%/mo add-on*

As low as 1.59%/mo; personalized up to ~6.99%/mo by your GScore.

Verified GCash users with a good GScore needing fast cash
Range. ~₱1,000 – ₱150,000 · 1 – 24 months
Approval. Minutes (in-app, to GCash wallet)
Income. No fixed income; based on GScore + GCash activity
As of June 2026 · confidence: medium

Visit GCash GLoan

Tonik Flex Loan

Digital bank

1.7%/mo add-on*

1.7%/mo fixed (add-on).

Tonik account holders wanting a fully-digital loan
Range. ₱20,000 – ₱250,000 · 6 – 24 months
Approval. Minutes (in-app)
Income. ~₱15,000/mo
As of June 2026 · confidence: high

Visit Tonik Flex Loan

Home Credit Cash Loan

Lending app

2.32%/mo unclear

~2.32%/mo (Home Credit doesn't clearly state add-on vs diminishing). Offer-based.

Existing Home Credit customers with good repayment history
Range. ₱3,000 – ₱150,000 (personalized) · 1 – 60 months
Approval. As fast as 1 minute (app)
Income. No published minimum; offer-based on your history
As of June 2026 · confidence: medium

Visit Home Credit Cash Loan

*Most quote a monthly add-on rate (interest on the full amount for the whole term), so the real cost is roughly double the headline. Rates are often personalized — confirm with the lender. See the true monthly payment with the personal loan calculator.

Banks vs apps — how to choose

Need a large amount and the lowest rate? A bank loan (BPI, UnionBank, RCBC, Security Bank) is cheaper, but expect income documents and a few days to a week.
Need cash fast? Apps (Maya, GCash GLoan, Tonik, Home Credit) approve in minutes, but amounts are smaller and rates higher.
Already a customer? Most lenders give better terms/approval to existing cardholders or app users.

Before you borrow

Confirm whether the rate is add-on or diminishing — it changes the true cost a lot.
Check the all-in cost: processing/disbursement fees and penalties, not just the rate.
Borrow only what your take-home pay comfortably covers, and avoid stacking multiple app loans.

Rates as of June 2026. Loan rates and eligibility change and are often personalized — always confirm on the lender's official site before applying. Researched and cross-checked against each lender's pages and recent 2026 sources; informational only, not financial advice.