10+ Online Loan App That Accepts PhilHealth ID Using with Cash (2024)

Are you looking for a online loan app that accepts your PhilHealth ID?

There are many loan apps available in the Philippines, but not all of them accept PhilHealth ID as a valid identification document.

Retailasiaonline.com will list down the best loan apps and discuss their features, pros and cons and other relevant information, so you can choose the one that best suits your needs.

APPLY LOAN NOW

Summary of loan app that accepts PhilHealth ID

✅ 10 Best online loan App that accepts PhilHealth ID	⭐1. Binixo, 2. Crezu, 3. Mazilla, 4. Pesoreedee, 4. Finloo
✅ Guide to	⭐ Apply for online loan accept PhilHealth ID
✅ Loan amount	⭐ 300 PHP – 30,000 PHP
✅ Places in	⭐ Philippines
✅ Age	⭐ 18 – 70 years old
✅ Term	⭐ 1 – 36 month
✅ Requirement	⭐ Active PhilHealth status
✅ Pros	⭐ Fast approval
✅ Cons	⭐ Effects of credit background
✅ Evaluate the effectiveness	⭐ Good
✅ Bad dept	⭐ Allow

What is a loan app that accepts PhilHealth ID?

A loan app that accepts PhilHealth ID is a mobile app that lets people apply for loans by sending in their PhilHealth ID as one of the requirements. This type of loan app is usually used by people who don’t have other government-issued IDs, such as a passport or driver’s licence.

Benefits of online loan using PhilHealth ID

Loan app that accepts PhilHealth ID offers its customers a lot of benefits as follows:

• You can usually use a mobile app to apply for a loan with a PhilHealth ID, which is faster and easier than going to a standard bank.
• Using a PhilHealth ID to apply for a loan speeds up the process and may lead to faster loan decisions due to less paperwork.
• The PhilHealth ID can be used as an extra way to prove who you are, making things safer and lowering the risk of scam.
• If you use PhilHealth ID, which has important personal information, the verification process could be easier.
• These loans app usually approve loans faster than standard banks. This is because it makes it easier for them to check your job and income information.
• Some loan apps Philippines do not do a credit check, which helps people who want to borrow money but have bad credit.

Drawbacks of loan app that accepts PhilHealth ID

Apart from the upsides, there are some downsides coming with online loan using PhilHealth ID:

• Not all loan apps may accept PhilHealth ID, which could limit what users can do.
• The interest rates on these loans are usually higher than those on traditional bank loans due to the higher risk to the lender
• There may be fees that aren’t obvious with these loans, like fees for paying late, handling, and starting the loan.
• These loans sometimes have shorter terms for paying them back than standard bank loans, which can make it hard to pay back the loan if you’re having trouble with money.
• These loans usually offer lower loan amounts than standard bank loans.
• If you don’t pay back a loan from an app that takes PhilHealth ID, it can hurt your credit history and make it harder for you to get loans in the future.

Philhealth loan qualification

To qualify for loan app PhilHealth ID, you must meet the following requirements:

• Be a PhilHealth member in good standing.
• Have at least 9 months of premium contributions within the immediate 12 months prior to the loan application.
• Own a valid ID, such as a passport, driver’s license, or voter’s ID.
• Have a regular source of income.
• Be able to repay the loan on time.

Cash loan using PhilHealth ID interest rate

The interest rate of a cash loan using PhilHealth ID varies depending on the lender.

• Some lenders offer interest rates as low as 10% per annum, while others may charge up to 30% per annum.
• The interest rate will also depend on the borrower’s credit score, the amount of the loan, and the loan term.

Example of online cash loan that accepts PhilHealth ID calculation

Here is an example of an online cash loan in Philippines that accepts PhilHealth ID and how the calculation works:

• Loan amount: 10,000 pesos
• Loan term: 6 months
• Interest rate: 10% per annum
• Monthly amortization: 1,666.67 pesos

To calculate the monthly amortization, you can use the following formula:

• Monthly amortization = (loan amount * interest rate * loan term) / (12 * 100)

In this case, the monthly amortization would be:

• Monthly amortization = (10,000 * 10 * 6) / (12 * 100) = 1,666.67 PHP

In addition to the monthly amortization, you will also need to pay a processing fee, which is usually around 2% of the loan amount.

• So, in this case, the processing fee would be 200 pesos.

The total amount that you will need to pay back is the sum of the monthly amortizations and the processing fee.

• So, in this case, the total amount would be 10,000 PHP + 200 PHP= 10,200 PHP.

Philhealth loan requirements

The following are the requirements for loan app that accepts PhilHealth ID:

• PhilHealth member
• Active PhilHealth status
• At least 18 years old
• Sufficient income to repay the loan
• Valid ID
• Proof of income
• Barangay clearance

Philhealth loan amount and term

The loan amount and term for loan app that accepts PhilHealth ID are as follows:

Loan amount

• The loan amount for loans accepting PhilHealth ID is based on the borrower’s monthly PhilHealth contributions. It will range from 300 PHP to 50,000 PHP.

Term

• The loan term of online loan accept PhilHealth ID varies at around 6 months but it can be flexible to 36 months. This loan doesn’t have a grace time.

Compare to loans accepting PhilHealth ID

App	Loan amount	Annual interest rate	Repayment terms
Binixo	Up to 25,000 PHP	4% – 916%	3 – 6 months
Crezu	Up to 25,000 PHP	12% – 36%	2 – 4 months
Mazilla	Up to 25,000 PHP	30% – 365%	3 – 36 months
Pesoreedee	Up to 30,000 PHP	11.9% – 143%	3 – 6 months
Finloo	Up to 25,000 PHP	2.5% – 199%	1 – 5 months

How to loan in PhilHealth online?

Follow the following steps to apply for a loan app that accepts PhilHealth ID:

Step #1: Choose the suitable loan apps

• There are a number of loan apps suiting your preferences as a valid identification document.
• Some of the popular ones include Binixo, Crezu. Mazilla, Pesoreedee and Finloo.

Step #2: Download the loan app and create an account

• Once you have chosen a loan app, download it from the Google Play Store or App Store.
• Then, create an account by providing your basic information such as your name, email address, and mobile number.

Step #3: Submit your PhilHealth ID

• The loan app will require you to submit a copy of your PhilHealth ID as a valid identification document.
• You can do this by taking a picture of your ID and uploading it to the app.

Step #4: Provide other required documents

• The loan app may also require you to provide other documents, such as your proof of income, proof of residence, and bank statement.

Step #5: Fill out the application form

• The loan app will have a PhilHealth loan form that you need to fill out.
• This form will ask for information about your loan needs, such as the amount of loan you need, the purpose of the loan, and your repayment capacity.

Step  #6: Submit your loan application

• Once you have filled out the loan application form, submit it to the loan app.
• The loan app will then process your application and let you know if you are approved for the loan.

Step #7: Sign the loan agreement

• If you are approved for the loan, you will need to sign the loan agreement.
• The loan agreement will outline the terms and conditions of the loan, such as the interest rate, the repayment period, and the penalties for late payments.

Step #8: Receive your loan proceeds

• Once you have signed the loan agreement, you will receive your loan proceeds.
• Your bank account will get the money from the loan.

Top 5 Best loan app that accepts PhilHealth ID in Philippines 2024

Here is the list of the top 5 loan app that accepts PhilHealth ID in the Philippines:

#1. Binixo – Loan app that accepts Philhealth ID

 

Binixo is one pioneering loan app that accepts Philhealth ID as a means of identity verification in the Philippines.

This app offers quick and hassle-free loan application processes, making it a popular choice among individuals seeking immediate financial assistance.

Pros:

• Streamlined application process, allowing users to apply for loans in just a few clicks.
• Integration of PhilHealth ID simplifies the verification process and enhances security.
• Quick approval and disbursement of loans, catering to urgent financial needs.

Cons:

• Interest rates might be relatively high compared to traditional lending institutions.
• Limited loan options and borrowing limits for first-time users.
• Potential for overreliance on loans, leading to debt accumulation.

Overall Score: 8/10

#2. Crezu – Online Loan App Using PhilHealth ID

Crezu has gained popularity as an online loan app using PhilHealth ID as a valid form of identification.

This app focuses on providing flexible loan options and repayment plans, making it suitable for individuals with varying financial capacities.

Pros:

• Diverse loan options, including personal loans, business loans, and emergency loans.
• PhilHealth ID integration enhances security and reduces the risk of identity fraud.
• User-friendly interface and transparent terms and conditions.

Cons:

• Approval process may take longer for certain types of loans.
• Some users might find the interest rates slightly higher compared to traditional lenders.
• Limited customer support options for addressing queries and concerns.

Overall Score: 7.5/10

#3. Mazilla – Loan app with PhilHealth ID

Mazilla has entered the Philippines lending market with a focus on utilizing loan app with PhilHealth ID for seamless user verification.

This app aims to cater to a wide range of users by offering loans for various purposes, from education to medical emergencies.

Pros:

• Variety of loan categories, providing solutions for specific financial needs.
• PhilHealth ID integration simplifies the application and verification process.
• Competitive interest rates for well-qualified borrowers.

Cons:

• Limited educational resources for borrowers to make informed financial decisions.
• Some users may experience occasional glitches in the app’s interface.
• Customer reviews suggest that customer support responsiveness could be improved.

Overall Score: 7/10

#4. Pesoreedee – Online Lending App That Accept PhilHealth ID

Pesoreedee stands out in the online lending app that accept PhilHealth ID for identity verification.

This app aims to empower users with quick access to funds for a variety of purposes, ranging from home improvement to debt consolidation.

Pros:

• Flexible loan tenure and repayment options, catering to diverse financial situations.
• PhilHealth ID integration enhances security and reduces fraudulent activities.
• Competitive interest rates for users with good credit scores.

Cons:

• Limited availability of larger loan amounts for certain borrowers.
• Some users have reported occasional delays in loan approval and disbursement.
• Lack of financial education resources within the app.

Overall Score: 7.5/10

#5. Finloo – Loan App Philippines Using PhilHealth ID

Finloo joins the league of loan app Philippines using PhilHealth ID for user identification.

With a focus on simplicity and accessibility, Finloo aims to provide a straightforward borrowing experience for users across the country.

Pros:

• Easy-to-navigate interface, making the loan application process user-friendly.
• PhilHealth ID integration enhances security and minimizes identity-related risks.
• Online lending platforms with lower interest rates.

Cons:

• Limited availability of larger loan amounts for higher-risk borrowers.
• Customer reviews suggest that the app’s customer support could be more responsive.
• Lack of additional financial tools or resources for borrowers.

Overall Score: 8/10

13. Expert’s opinion about Online loan that accepts PhilHealth ID

• According to Bernardo Villegas, an economist: “Online loan that accepts PhilHealth ID can be a convenient option for people who need quick cash. However, borrowers should carefully read the terms and conditions of the loan before applying, as they may have high-interest rates and fees.”
• Felipe Medalla said: “Borrowers should be aware of the risks involved in loan app that accepts PhilHealth ID, such as the possibility of defaulting on the loan and having their credit score affected. What they can afford to pay back is the maximum amount they should borrow.”

FAQs – online loan App that accepts PhilHealth ID

Below are some concerns about online loan App that accepts PhilHealth ID:

Can I loan in PhilHealth?

Yes, PhilHealth will let you borrow money. But it’s not a loan directly from PhilHealth. Instead, it’s a loan from a microfinance company (MFI) that works with PhilHealth. You’ll get the loan from the MFI, and PhilHealth will back the loan. This means that if you don’t pay back the loan, PhilHealth will pay it back to the MFI.

Does Tala accept PhilHealth ID?

Yes, PhilHealth ID for Tala loan is accepted as a legal ID for loan applications. Tala will accept government-issued IDs like an SS ID, UMID, Voter’s ID (with a QR Code), passport, driver’s licence, Postal ID, PhilSys ID, or National ID. You can get more information about Tala’s ID standards on their website or by calling their customer service.

Can I get PhilHealth ID without contribution?

No, you can’t get a PhilHealth ID if the Philhealth loan process doesn’t exist in the system. To get a PhilHealth ID, you have to sign up as a volunteer member and pay the monthly fee. The PhilHealth ID shows that you are a member, and you need it to get PhilHealth services.

Is PhilHealth ID valid for pag ibig loan?

No, you can’t use the PhilHealth ID to get a loan through Pag-IBIG. In addition to your Pag-IBIG membership identification number (MID), you will need to show certain papers in order to get a loan from Pag-IBIG. There is no link between the PhilHealth ID and how to apply for a Pag-IBIG loan.

Is there a payment for PhilHealth ID?

No, you do not have to pay anything to get a basic online loan PhilHealth ID. After signing up at a PhilHealth office, you might be able to get one for free. The insurance card costs 50 PHP one-time, and only members who are actively working for the group can get it.

Conclusion

We would recommend Binixo and Finloo be the two best loan app that accepts PhilHealth ID.

They are strong contenders in the lending app landscape in the Philippines due to their user-friendly interfaces, incorporation of PhilHealth ID for security, and competitive interest rates.

Individuals seeking quick access to funds and a secure borrowing experience would likely find these lenders to be reliable options.

Don’t forget to leave a 5-star rating if you found this information helpful. If you have any further questions or need clarification on the recommendations, feel free to leave a comment, and I’ll be happy to assist you!