4 Apps That Offer Quick Loans When You’re In Dire Need Of Funds

Just make sure to keep track of interest rates and due dates.

Everyone does their best to budget and save their money. However, there are times when you have no choice but to dip into your savings. Unforeseen circumstances may have people draining their emergency funds. This is why some people take out a loan rather than fall short of their budget.

But what if you’re in desperate need of the money? A quick loan may be your best option.

What is a quick loan?

As the name suggests, a quick loan is one that you can get in a short period of time. The screening is less rigorous and the approval process is much faster than traditional loans. Some lenders provide approval and funding within a few days. Others can get funds within the same day as their application.

Where can I get a quick loan?

Most bank accounts offer some type of loan but qualifications may be strict. The good news is there are several mobile apps that offer quick loans.


There’s more to Shopee than just shopping. In addition to a buy now, pay later option, the e-commerce platform offers loans.

Eligible users have access to SLoan, which offers quick loans at 1% to 5% interest. Users can borrow up to PHP50,000 and pay it back in up to 12 months. Do note that rates and credit limits depend on Shopee’s assessment criteria.

Users with approved loans can withdraw the funds using Shopee’s digital wallet, Shopee Pay. Fully-verified accounts can then transfer the funds to third-party banks, free of charge.


Lazada‘s loan program allows users to avail of a loan from its third-party partners. Since it involves different companies, the interest rates and payment schedules may vary for each one.

The main requirement to get a Lazada loan is to activate your Lazada wallet. Once you do this, you have to visit each partner’s pages to get more information and apply for a loan.


There are so many things to do with GCash. It’s not surprising that getting a quick loan is one of them.

GCash uses your GScore as the basis for approval, which depends on your transactions through the app. You can borrow up to PHP50,000 and pay in up to 12 months. The standard interest rate is 1.59% but it varies per user.

GCash approves loans within minutes and credits the funds to your account instantly.


Like the previous apps, Tonik offers quick loans of up to PHP50,000. The difference is that their payment options can go as long as 24 months. It does have a higher interest rate at 7%, but you can lower it to 5.24% by linking your payroll ATM.

Perhaps the best feature about Tonik loans is that you can choose your due date. So you can pick when you get your salary to ensure you have to funds to pay your dues.

Pay your loan on time

These apps may offer quick loans with less rigorous screening, but don’t just borrow on a whim. Interest rates can pile up when you’re short on funds. So file your loan applications with caution.

It’s also important to keep track of your budget and due dates. Late payments may incur additional fees, so make sure to pay your loan on time!

Featured Image Daniella Sison


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