7 Insider Tips to Get Your Loan Approved in the Philippines
According to a resigned loan processor of several loaning companies loan companies, here are 7 Insider Tips to Get Your Loan Approved in the Philippines. Read very well and be amazed on some of the pointers in this article:
1. Capture a very clear photo of your ID
Your credit history isn’t actually the first thing that loan companies check—it’s your valid IDs. Most major loan providers use AI to analyze IDs due to the high volume of applications. It is simply too costly to maintain manpower just to check IDs.
To help the AI analyze your ID better, make sure the photo is clear, well-lit, and glare-free. Otherwise, you may be automatically declined.
2. Check your credit history and fix it
Never assume that loan companies can’t check your credit history. A lot of agencies like CIC track your credit records and are affiliated with lenders. If you have a pending loan which you haven’t paid, chances are, other loan companies know it too. So keep track of your loans and settle them before applying for a new one.
Fixing your credit history might be the most straightforward—yet most important—secret to getting your loan approved.
3. Improve your credit-to-income ratio
It may be tempting to request a loan that exceeds 50% of your salary, but keep in mind that loan companies also analyze how financially stressed you might be.
What this means is that when you request an amount much higher than your salary in one go, it suggests you may not be managing your finances well.
4. Be consistent with your application data
Before loan companies look at your credit history, they first validate your identity. They need to be sure that you exist and are who you claim to be. To pass this validation with flying colors, make sure your name, age, and address match those on your valid IDs.
Some loan providers also check your information through the GCash app. So make sure the cellphone number you’ve submitted bears your name—not someone else’s.
5. Know the office location of the loan provider
This might be a strange tip for getting your loan approved—but yes, you should know where loan companies operate.
The main reason is that lenders prefer applicants who are geographically reachable in case they stop paying or become unresponsive. You’ll have a higher chance of approval if you choose a loan provider near your home.
6. Make sure your references are active
References are very important, and their contact numbers should be active in case the loan provider calls them. Some of us have a habit of listing random numbers, but this isn’t a job application. If a loan provider can’t reach your references, they usually won’t ask for a new one—they’ll simply reject your application.
7. Submit application from 4-5pm
This might not be a big secret, but here’s an insider tip: Validators typically work from 8 AM to 5 PM. It’s widely known that around 4–5 PM—just before the workday ends—their mental focus tends to decline.
Some may overlook small red flags and approve borderline applications just to finish the day.
Now that you’ve read these 7 Insider Tips to Get Your Loan Approved in the Philippines, we hope your application process goes smoothly and successfully. Good luck!
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