Best Loan Apps | Top 10 Legit Loan Apps for 2023 (My List!)

Summary

In this vlog, the host introduces various financial apps and platforms available in 2023, focusing on their loan offerings. Apps like Quick Loans from Union Bank, Key Credit, G-Credit, and Ready Credit from CIMB Bank are discussed, highlighting their ease of application, interest rates, and repayment terms. Additionally, Maya e-wallet and Shopee's SP Credit are mentioned for their digital banking and loan services. The video also touches on BillEase, a flexible loan platform with automated applications. The host emphasizes the importance of good credit standing and provides links for further information.

Takeaways

• 😀 The video discusses various apps and platforms for financial services in 2023.
• 🏦 The first app mentioned is Quick Loans by Union Bank, a legitimate bank in the Philippines offering online loan applications.
• 💼 Union Bank may send invites or pre-approvals for Quick Loans, which can simplify the application process.
• 💰 The interest rate for Quick Loans is reasonable, typically between 2-3%, with loan amounts up to 250,000 pesos over 15 months.
• 📊 G Credit is a financial product that functions like a revolving credit card, with acceptance at over 70,000 merchants nationwide.
• 🔢 G Credit offers loans up to 125,000 pesos, depending on the user's G score, with repayment terms up to 12 months.
• 🛍️ G Cardless is an alternative to home credit, allowing purchases online or offline through installments with no down payment required.
• 📈 Ready Credit by CIMB Bank is available for regular employees and self-employed individuals, offering revolving credits and installment loans.
• 💡 Maya e-wallet is a digital bank offering loan products similar to G Credit, but without the need for a G score.
• 🛒 Shopee and SP (ShopeePay) offer installment payment options for purchases, with interest rates less than 5% depending on the user.
• 📋 BillEase is a fully automated loan platform requiring a valid ID, proof of income, and contact information for application.
• 📧 All mentioned platforms send reminders via text and email, emphasizing the importance of timely repayment.

Q & A

What is the main topic of the video?

The main topic of the video is discussing various financial apps and platforms offering loan products in 2023.

What is Quick Loans and who offers it?

Quick Loans is a loan product offered by Union Bank, a bank established and regulated in the Philippines.

What is the significance of receiving an invite or pre-approval from Union Bank for Quick Loans?

Receiving an invite or pre-approval from Union Bank for Quick Loans makes the application process easier and almost guaranteed.

What is the interest rate range for Quick Loans offered by Union Bank?

The interest rate for Quick Loans is reasonable, typically between 2 to 3 percent, depending on the user.

What is G Credit and how does it relate to GCash?

G Credit is a financial product by GCash that functions like a revolving credit card, where the credit limit depends on the user's G score.

How does G Credit compare to Home Credit in terms of offerings?

G Credit is a good alternative to Home Credit, allowing for purchases online or offline through installments with a 30% down payment.

What is CIMB Bank's Ready Credit and what is required for it?

Ready Credit is a loan product by CIMB Bank that requires either payslip for regular employees or business income proof for self-employed individuals.

What is the process for applying for a loan with BillEase?

BillEase is a fully automated loan platform where you can apply online with a valid ID, proof of income, a working email, and phone number.

What is the interest rate for loans offered by Shopee and Lazada?

The interest rate for loans offered by Shopee and Lazada is less than 5 percent, depending on the user and the processing fee.

What is Maya e-wallet and what additional services does it offer?

Maya e-wallet is a digital bank regulated by the Central Bank of the Philippines that also offers loan products similar to G Credit.

What advice does the video give regarding the use of these financial apps?

The video advises to use these apps responsibly, to ensure good credit standing, and to check for accurate information before applying for loans.