Emergency loans In The Philippines: How and Where to get it

emergency loans in the philippines

Ang hirap na ng buhay ngayon, and the cost of living is only expected to be more expensive in the coming months. If you are in Manila or someplace else in the Philippines, where can you turn to if you’re short of cash? How do you find a lender or financial institution that provide emergency loans in the Philippines?

Finding institutions where you can get an emergency loan in the Philippines is actually easier than you think. Read the article below to learn more about these lending institutions you can try in case of financial emergencies!

Emergency Loans in the Philippines

An emergency loan is a personal cash loan that you can avail of to cover urgent needs or daily expenses in the short term. These loans are typically unsecured. You can easily apply for an emergency cash loan even with minimal requirements.

With an emergency loan in the Philippines, you can buy your daily necessities, pay your bills, cover medical expenses or have your house or gadget repaired. The rise of loan apps and e-wallet services has also made it easier for Filipinos to get emergency loans online.

Different Types of Emergency Loans in the Philippines

1. Personal loan

Applying for a personal loan is one of the most common ways to get through emergencies here in the Philippines. Personal loan amounts can range from ₱1,000 to ₱2 million, depending on the lender.

Interest rates can be as low as 1.25%, with the highest rates reaching 4% and above. Your final interest rate will be calculated based on your loan amount and loan tenure.

You can get a personal loan from banks, government agencies and online lending apps.

2. Pawn shops

If you’re short on cash, you can also get an emergency loan from a pawn shop. But unlike personalloans, you have to pawn something off first before you can get your money.

Pawn shops accept jewelry, gadgets, motorcycles, land titles, appliances, luxury goods and other valuable items in exchange for money. The amount that you will get will depend on the appraised value of the item.

3. Salary Loan

A salary loan is a type of emergency loan where you can borrow an amount from lending institutions like banks, government agencies like SSS and Pag-ibig, and your employer will automatically deduct the monthly repayment from your monthly salary.

This is one of the easier options because your employer can help you with the application as well as the repayment.

4. Calamity Loan

As a calamity prone country, there are various institutions that offer calamity loans in the Philippines to help individuals and families who fallen victims to unfortunate and unforeseen events, like typhoons and earthquakes.

This type of loan may also provide a special interest rate to borrowers and more flexible loan amount and terms.

5. Education Loan

In most cases, families who are struggling to send their children to school can avail of the education loan from different lending institutions. There are banks, government agencies, and private lenders who offer this kind of loan, but the interest rates vary from each one.

Where to Get Emergency Loans in the Philippines

Here are your options for emergency cash loans in the Philippines. The minimum loan amount and interest rate may differ depending on your chosen lender.

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1. Banks

Banks are your best and sure-fire bet for personal cash loans. You can easily get a big loan amount with low interest rates if you have a good relationship with your bank.

Requirements for Emergency Loans from Banks

Banks offering emergency loans typically require borrowers to be a Filipino citizen aged at least 18 to 21 years old. You must submit at least 1 government ID with your photo.

If you are a regular employee of a private company, you must submit your latest three month payslips or BIR Form 2316 or income tax return. If you’re self-employed, you must provide proof such as a business registration certificate, audited financial statements or ITR.

Some banks may require that you have a savings account with them before applying for a loan.

Pros and Cons of Emergency Loans from Banks

The pros of applying for an emergency loan from banks are:

  • Safe and lower risk of getting scammed
  • A paper or electronic trail for every transaction
  • High loan amount and low interest rates
  • Helps you build a good relationship with your bank

On the other hand, here are the cons of applying for an emergency loan from banks:

  • Long processing times
  • Strict application process
  • Some banks may require you to have a savings account with them first before loaning.
  • If you’re unemployed, your application may not be approved.

2. Government Agencies

May pautang sa gobyerno! The SSS, GSIS and Pag-IBIG Fund offer cash loans to aid their respective members in times of financial need. These agencies have lower interest rates and longer repayment schedules than other lenders. They also tend to be more lenient when it comes to loan restructuring.

For example, the SSS offers Calamity Loan Assistance Program (CLAP) to members in calamity-affected areas. Under CLAP, qualified members can avail of a loan equivalent to one monthly salary credit (MSC) computed based on the average of their last 12 MSCs rounded up to the nearest thousand or the amount they applied for.

If you’re a government employee, you can apply for GSIS Emergency Loan. It is payable in 3 years or 36 equal monthly installments with a 6% interest rate per annum.

Requirements for applying for emergency loans from government agencies

To get a loan from government agencies, you have to be a member and have made regular contributions for a specific number of months.

To qualify for the GSIS Emergency Loan, you must be:

  • a bona fide resident or employee of the government office within the calamity area
  • in active service and not AWOL
  • Have no overdue mandatory social insurance contributions
  • Have no defaulted loans

Pros and Cons

The pros of applying for an emergency loan from government agencies are:

  • Higher loan amount and lower interest rate than banks
  • Flexible repayment schedules
  • If you’re a regular employee, you can apply through your HR department.
  • More repayment options

Here are the cons:

  • You must be a member
  • You must meet a minimum required contribution
  • Loan process can be just as long and laborious as with banks

3. OLAs (Online Lending Applications)

More and more Filipinos are turning to online lending apps for emergency loans. Unlike banks and government agencies, they are quick, convenient and hassle-free. You just need to have a smartphone, valid ID and working mobile number to apply for a loan. The whole loan process is 100% online, meaning you don’t have to worry about physical documents or long processing times.

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OLAs are a good option if you’re unemployed and with no bank account.


To apply for an emergency loan from an OLA, you must be a Filipino citizen aged at least 18 to 21 years old. You must have a working mobile phone number and email address. You must also have at least 1 valid ID.

Contrary to banks and government agencies, OLAs do not require bank accounts.

Pros and cons of getting emergency loans from OLAs

The pros of OLAs include:

  • Faster processing times
  • Higher approval rates
  • 100% online process
  • Application process is not as stringent

Here are some cons of OLAs:

  • High interest rates
  • Hidden fees
  • Shorter loan terms

How to get emergency loan with no job

You will be more likely to apply for an emergency loan if you don’t have a job. After all, your expenses won’t stop just because you are unemployed.

Don’t worry! You will still get approved for an emergency loan. However, your options may be limited. For once, banks require proof of income. Government agencies require a regular contribution. That means your best bet is an online lending app.

You can get an emergency loan from an OLA for as low as ₱1,000. You don’t need to present a proof of income – a valid ID with your photo can do. The process is 100% online from application to disbursement so you don’t have to deal with long verification times. You also have a higher chance of getting approved!

The downside to OLAs is the possibility of high interest rates. Sometimes, their rates can be even higher than banks! The loan tenure can also be tight, but this will depend on your chosen lender.

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Thankfully, not all online loan apps have those downsides. With UnaCash, you can loan for as low as ₱1,000 with a max of ₱50,000 for up to 6 months! You won’t have a hard time repaying your loan thanks to bimonthly payments! Everything is online, from application to disbursement! Plus, we have lots of repayment partners so loan payments are hassle-free!

To get an emergency loan with no job from UnaCash, follow these steps:

  1. Download the UnaCash app from the Google Play Store or Huawei AppGallery.
  2. Fill out the loan application form.
  3. Indicate your loan amount, then select your loan tenure.
  4. Wait to get approved.
  5. Congratulations! You can now get your loan amount from the app.


1. What is an emergency loan?

An emergency loan is a personal loan that you can apply for to cover any urgent expenses in the short term.

2. How to get an emergency loan?

You can get an emergency loan from banks, government agencies and online lending apps. The process of getting an emergency loan will depend on your chosen lender.

3. How to apply for an emergency loan in GSIS?

To get an emergency loan from GSIS, you can apply using the GSIS Wireless Automated Processing System (GWAPS) kiosk if you have a GSIS eCard or UMID card.

You can download the application form from this website.

Key Takeaways

An emergency loan can get you through tough times or unexpected events. With an emergency loan, you can cover any short-term necessities while waiting for a stable cash inflow. Your options for emergency loans are banks, government agencies and online lending apps. Lenders offering emergency loans have their own minimum loan requirements, rates and terms.

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