Free loan up to PHP 10 000, for each new client!

It is the first service that works with customers in online mode, without the help of a human operator! Its operation is fully automated. Any day of the week, regardless of time, holidays or non-working days, loans instantly. The “Robocash” is a new and improved software that can automatically study more than 1800 data of a client, based on the information of your form.

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Salary Loan Online

Having a regular and consistent income in the form of salary imparts an excellent feeling of financial security. It assures you of a sustainable and comfortable life by keeping your financial worries at bay. Life is quite unpredictable; an immediate requirement for money can sprawl from anywhere. It can be an emergency hospital expense or an unavoidable upgrade of your laptop or an unplanned travel. Indeed, your salary alone can’t assure you immunity from all such financial emergencies. But it can protect you from getting into debt traps. 

In the event of financial emergencies, people often tend to get short term loans with the minimal documentation process. Lenders or banks exploit the borrower’s vulnerability through expensive loans and push him or her to a bottomless pit of liability. Salary loans with low-interest rates and minimal documentation processes are the best tools for salaried individuals to overcome their financial hurdles and to maintain their financial health.

How much money do you need?
10 000
Min: ₱ 1 000
Max: ₱ 10 000
You return: 10 000
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What is a Salary Loan? 

Salary loans offer you loans based on your monthly salary. The borrower repays the loan and interest as monthly deductions from his salary paycheck. 

The loan amount and payment period vary with each lender. For some loans, the loan term can be weeks, but for some, it is as long as 12-36 months. Significant highlights of Salary loans are their easy availability, no requirement for collateral security or guarantor, low-interest rates, and flexible payment options.

Salary loan is a special kind of loan wherein you put your next salary on the line. This is why this type of loan also goes by the name payday advance or cash advance. The usual practice for many Filipinos, especially for those whose salaries are barely able to keep up with their daily needs, is to ask their salaries in advance from their employers or ask money from fellow employees. If neither method works then they would have to resort to a more formal way – a bank or some other type of financial institution will have to provide the loan.

When a salary loan is taken out, the expectation from the lender is that it will be paid on the next date when the borrower’s salary is available. The borrower is to visit the lender and pay the borrowed amount plus whatever interest rate was added to the principal amount.

Salary Loans and PayDay Loans 

People often mistake Salary loans with PayDay loans due to the similarity of the names. But in fact, they are poles apart in their nature and characteristics. Payday loans are ultrafast loans to manage an emergency financial situation till your next payday. Typically the loan amount will be small, but the interest rate would be quite high. These loans require a one-time settlement, usually within a few days.

On the other hand, Salary loans carry the conventional attributes of “Good Loans”. Anyone with a regular monthly income can loan against their salary with minimal interest rates and monthly repayments. Even though you can use the loan to overcome your temporary crisis, its repayment won’t impose too much strain on your financial liberties. Easy availability of loans and the ability to maintain the quality of life, even with regular loan repayment, make Salary loans one of the most popular financial products throughout the Philippines. 

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What is the best online loan in Philippines?

We always recommend Robocash. But does Robocash provide salary loans?

Robocash has established its presence throughout the Philippines with its 100+ branches and a fully fledged online portal. For the significant number of Filipinos, who prefer conventional banking, Robocash professions with exceptional customer service skills are a bliss. They provide the customers with accurate information about each financial product and help them choose the most appropriate one. Fully automated loan approval system allows millions to get loans from their comforts around the clock, throughout the year without any requirements of lengthy travel or inconveniences.

Robocash does not provide exclusive Salary loans. But they outshine their competitors by adopting a sensitive approach towards the requirements of Filipinos from all walks of life. For instance, we provide loans with a repayment of 30 days for everyone with a regular monthly income irrespective of your employment or trade nature. The loan is open for public sector employees, private employees, professionals, self-employed individuals, and freelancers.

The loan doesn’t require any formal recommendations from your employer, and it helps one maintain the confidentiality of his or her finances. The Gig economy is thriving across the world. Robocash encourages freelancers to explore its true potential by offering inexpensive salary loans to meet their financial emergencies.

Robocash Advantages

  • Legit and State licensed company;
  • Minimal documentation, low processing time and faster approval;
  • The loan approval rate is as high as 95%;
  • Ability to choose loan amount and term of your preference;
  • Comprehensive online portal for loan operations;
  • Eliminates queues, travel, and loss of workdays;
  • Unbiased loan approval through a completely automated system;
  • Faster approval of loans and instantaneous transfer of money, often within 15 minutes;
  • Interest is applicable only for the used amount.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 5000 pesos in your bank account
We don't require guarantors representation, documentation, or guarantee deposits.
The service is fully automated

Robocash Loan Eligibility

  1. You must be a Filipino citizen of at least 21 years of age to 70;
  2. The online application should contain real registration and address details;
  3. A scanned copy of your ID, as well as an income and driver’s license certificate if desired should be uploaded to the portal;
  4. Accurate information of the bank account for transferring of the loan amount.
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Is money lending legal in Philippines?

There are various online lenders that you can access.  However, how safe is the credit company? Not all lending companies protect your interests. Some firms are hunting for your personal information. 

To find a legitimate firm, you will need to go to the website of the Securities and Exchange Commission. All financial institutions in the country are registered with the Commission, which gives them licenses to operate. For any financial corporation to be able to operate in the country, it must have an SEC certificate. The document is issued by the Securities and Exchange Commission to show that the company operates in accordance with the law. If a creditor does not have such a certificate, do not sign up for its services. However, it is not enough, go through the consumer reviews, both positive and negative. This, in turn, gives a deeper understanding of the firm.

Is Robocash legit?

Yes, the firm is registered under the Security and Exchange Commission. Robocash has been accredited by SEC in the Philippines, and its details are available on SEC’s official website in the list of financing companies.Its registration number is CS201730459. It means that it operates legitimately in the Philippines and can be trusted for loan applications.

How can I avail loan?

In the Philippines, Commercial banks, Government entities such as Pag-IBIG, SSS, and other Non-banking Financing Companies (NFBC) are the primary financial institutions for Salary loans. 

Bank loans are less expensive. But their eligibility conditions such as accredited employers and good credit scores are too high for the majority to achieve.Banks require a broad set of documents, and it increases processing time. Besides, there is no guarantee that you will get the loan on time. Even though Pag-IBIG and SSS loans are quite affordable, only members can avail of the loans. These conditions force a significant share of Filipinos to seek loans from NBFC, popularly known as lenders. 

Lenders are undeniably one of the most prominent cogwheels of the Philippines’ economy. They are less rigid on the loan eligibility conditions and ensure loan availability with minimal formalities and time. They provide excellent customer support and introduce innovative solutions to make the entire process more streamlined and efficient. For instance, a fully automated or online loan approval system ensures seamless delivery of service beyond the banking hours and helps the user avoid unnecessary travel. Such systems perform scrutiny of the applications in an entirely objective way without any bias or preferences. It improves the processing time and spares the borrower from unnecessary anxieties. 

The regulations for salary loans focus mainly on the well-being of the borrower and avoid any exploitation. The law insists that the monthly payment for a loan shouldn’t exceed 35% of the borrower’s monthly income. Whatever the borrower’s creditworthiness is, no lender can issue a Salary loan that exceeds the borrower’s three monthly earnings. 

If one requires more money, the loan term would be higher so that the borrower can make the loan payments on time without much financial stress. But the significant presence of non-licensed and illegal lenders across the Philippines is a concerning element. Such lenders violate the salary loan regulations and exploit the borrower through exorbitant interest rates and processing charges.They usually attract customers with the promise of a high loan amount and a one-day release of Salary loan with minimal process. 

One should be cautious to avoid these lenders and go only with reputed, legit, and state-licensed lenders to avoid any pitfalls in the future. Some of the common conditions followed for Salary loans are: 

  1. Current employees of governmental, public or private sector or professionals, and self-employed individuals with regular income;
  2. The applicant has to be a Filipino citizen with a minimum age of 21 years;
  3. Government-issued ID proofs, company ID and income proof;
  4. Proof of address from at least two different bills;
  5. Taxi drivers have to submit a copy of their driving license, company ID, TODa document, and OR/CR of their vehicles;
  6. Apart from these, you may need to meet the lender’s guidelines about minimum monthly income and credit score.
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Why do People Take Salary Loans?

Usually, people take Salary loans when the out of the pocket expenses exceed their regular savings. For instance, if you had to spend a substantial amount on your pet dog’s treatment, your financial reserves for credit card payments will become inadequate, at least for the month. Similarly, purchasing an expensive product that you have earmarked for offer periods or an additional payment of taxes, etc. can topple your financial plans for the month. 

These are the most common reasons for the Filipinos to arrange a Salary loan: 

  1. Buying or repairing household and computer equipment;
  2. Repair of a car;
  3. Celebrating a birthday or a wedding;
  4. Treatment or purchase of medicines;
  5. Vacation expenses;
  6. Payment of another loan;
  7. Gifts to family and friends;
  8. Payment for the education of children.

Whatever the reasons are, if you default the credit card payment, it will reduce your credit scores. A low credit score and a blemished credit history will make you ineligible for any other loans.

Who Can Get a Salary Loan?

Salary loans primarily target salaried individuals from government, private or public services. Independent professionals, self-employed people like taxi drivers or people, who make voluntary contributions to Pag-IBIG or SSS, are eligible for salary loans under different categories. 

FAQ

  • How does salary loan work?
    A salary loan is a money loan given to borrowers that must be repaid in full or in installments when the borrower receives his or her next paycheck. Sometimes such a loan is given with the help of an employer.
  • How can I apply SSS salary loan online?
    Yes, you can do this on the official SSS website in your personal account.
  • How much is the maximum salary loan in Pag-ibig?
    A qualified Pag-IBIG member may obtain a loan of up to 6,000,000.00 pesos.

Pag-IBIG Salary Loan 

Some financial institutions restrict Salary loans to people from accredited employers only. A considerable number of Filipinos work under private employers. Such restrictions cut them off from availing feasible loans to avoid debt traps. For instance, contract employees, temporary workers, household helpers, or seafarers who work for a foreign ship owners will become ineligible for any Salary loans. Luckily, Pag-IBIG makes such people’s lives easier by providing Salary loans against their savings through a minimalistic and hassle-free process. 

PAG-IBIG Loan Eligibility 

PAG-IBG loan is available to all active contributors of the fund irrespective of their job, trade, or nature. 

The primary eligibility criteria are

  1. The applicant should be an active Pag-IBIG member;
  2. The total fund savings should not fall below PHP 4,800 or at least 24 months of Membership Savings Contributions;
  3. At least one contribution within the last six months;
  4. A documented proof of income;
  5. No default accounts with Pag-IBIG.

Pag-IBIG Loan Requirements 

To apply for a loan, there are the following requirements: 

  1. Photocopies of two ID proofs carrying the applicant’s photo and signature;
  2. Latest payslip;
  3. Duly accomplished Pag-IBIG multi-purpose loan application;
  4. Information on the employer such as: 
  • Employer’s Name;
  • GSIS or SSS Number; 
  • Agency Code and Branch Code; 
  • Signature of office head.

The loan privileges one to avail 60-80% of his or her total accumulated fund value as a Salary loan with a relatively extended payment window. 

One advantage of a Pag-IBIG loan is that even without regular employment, one can be a member through voluntary contributions. So, people who live in another country can also assure the availability of financial assistance in case of a financial emergency at their homeland. The ability to avail Pag-IBIG loans online enables people who live outside the metros like Cebu or Davao city to get a Salary loan in an uncomplicated way with little inconvenience. 

However, Philippine freelancers or self-employed citizens are not eligible for this loan. Neither are those employees who do not want to notify their employers of the loan. Robocash works for these categories of citizens and provides quick loans in 1 hour.

Advantages of a Salary Loan

Salary loans are flexible, carry a low-interest rate, and offer repayment as monthly installments. Since the monthly payments are already known, one can chalk out a financial plan to meet the expenses without undue stress. 

Besides financial emergency management, one can use Salary loans as a part of a long-term financial strategy. You can use these low expensive loans to clear off your high expensive ones such as payday loans and maintain your financial health in good shape. 

They don’t require any collateral guarantee and the approval rates are often high. So you can be sure about the availability of funds to manage the crisis. 

Conclusion

Avoiding debts or keeping them to the minimum possible level is the most crucial financial strategy towards achieving financial independence. Salary loans are a great product to harbor during emergencies. But one needs due diligence in the proper management of these loans through timely repayments. Defaulting such loans can lead to the non-availability of funds in case of future emergencies.

During such instances, you may have to resort to more expensive financial solutions such as payday loans, which can make your financial health miserable.

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Robocash Reviews

  • Ryan
    Robocash is one of a kind. They are true to their commitment that once u pass d review they will credit the loaned amount right away! In less than 5 mins we got the money transfered to my gf bank account. Amazing! Two thumbs up ROBOCASH!!!
  • Erica
    I tried Robocash out of curiosity. To cut to the chase, Robocash is ideal for "petsa de peligro" days where it's almost payday but also your bills is on due date because they have short payment terms (I was given 7 days term for my first loan). You can get approved as fast as 30mins and the loan will reflect immediately.
  • Sam
    I loved RoboCash not just the app but for the whole experienced that I had in applying for a loan. Hassle free and loan disbursement is as quick counting 1-2-3.

Download the Robocash mobile app and get loan instantly!

  • Borrowing 24/7
  • Approval rate over 90%
  • 1 Valid ID

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Sean Martin D. Plantado

Author pages:
Sean Martin Plantado is the head of Customer Care Dept. and Online Sales Dept. of Robocash Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Sean also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.