Online 0 Interest Loan App (Zero on First Loan) Philippines 12 months

What is a 0 interest loan app and how does it work? How can you find the best one for your needs? And how can you apply for a personal loan with zero interest in the Philippines?

In this article, we will answer all these questions and more. We will also give you a list of the top 5 best loan apps with zero interest in 2023, so you can compare and choose the best one for you.

Summary of online loan 0 interest first loan in Philippines

✅ Top Best 0 interest loan app first loan	⭐ 1. Finbro; 2. Crezu; 3. Credify; 4. Binixo; 5. SosCredit
✅ Interest rate	⭐ 0% for first loan
✅ Limit amount	⭐ ₱1,000 – ₱60,000
✅ Term	⭐ 1 – 12 months
✅ Age	⭐ 18 – 70 years old
✅ Area support	⭐ Nationwide Philippines
✅ Requirements	⭐ Only valid IDs
✅ Pros	⭐ Zero percent interest loan
✅ Cons	⭐ Limit first loan amount
✅ Bad credit history	⭐ Allow
✅ Guide to	⭐ Apply online loan 0 interest in Philippines
✅ Level of efficiency rating	⭐ Good

What is 0 interest loan app?

0 interest loan app is a mobile application that allows users to borrow money without paying any interest on the first loan. Unlike traditional lenders, this app does not require any collateral or guarantor to secure your loan. You can apply online and get approved in minutes, without any hidden fees or charges.

How do 0 interest loan apps work?

The idea behind 0 percent interest loan apps is to attract new customers who are in need of cash.

They hope that by offering a free first loan, they can build trust and loyalty with the borrowers, and encourage them to use their services again in the future.

The apps make money from the subsequent loans that they charge interest and fees on.

For example, let’s say you borrow 10,000 pesos from a no interest first loan app for 30 days:

• You will not pay any interest or fees on this loan, so you will only have to repay 10,000 pesos at the end of the term.
• However, if you decide to borrow again from the same app, you might have to pay an interest rate of 6% per month.
• This means that if you borrow another 10,000 pesos for 30 days, you will have to repay 10,600 pesos (10,000 + 600 interest).

How to find the best 0 interest loan app for your needs

Here are some tips on how to find the best 0 interest loan app for your needs in the Philippines.

• Check the reviews and ratings of the app on the Google Play Store or App Store. Look for apps that have high ratings and positive reviews, and avoid apps that have low ratings and negative reviews.
• Compare the features and benefits of different apps. You can use online platforms or websites that compare and rank different loan apps (such as CDNDongKhoi.edu.vn) based on various criteria, such as loan amount, repayment period, interest rate, processing time, and customer service.
• Apply for a pre-approval or a trial loan. Some apps offer you a pre-approval or a trial loan before you apply for a full loan. This can help you test the app’s functionality, speed, and service quality without committing to a long-term contract.
• Choose an app that suits your needs and preferences. The best lending app with 0 interest on first loanfor you may not be the best for someone else. You should consider your own financial situation, goals, and preferences when choosing an app.

Benefits of zero interest loan apps

Here are some of the benefits of using zero interest loan apps:

• Save money on interest payments: You only have to pay back the principal amount, which can help you save a lot of money in the long run.
• Easy to apply: You just need to download the app, register with your personal information, and submit your loan application. You don’t need to provide any collateral, guarantor, or credit history.
• Fast and convenient: You can get approved within minutes and receive the money in your bank account or e-wallet within hours. You don’t need to visit any physical branch or wait in long queues.
• Safe and secure: The 0 interest loan apps use advanced encryption and verification systems to protect your data and transactions.
• Flexible and affordable: You can choose the loan amount, repayment term, and payment method that suits your needs. You don’t have to worry about any interest, fees, or penalties for your first loan.
• Helpful and supportive: The zero interest rate loan app has customer service representatives who are ready to assist you with any questions or concerns you may have.

Drawbacks of online loan 0 interest on first loan

Some drawbacks of borrowing money from these zero interest loan apps are:

• You may not qualify for a large loan amount initially. The maximum you can borrow may be only 15,000 pesos.
• The loan term is not long for the first loan. You may have to repay your loan within a week to a month.
• 0 interest rate loan apps may have higher interest rates on subsequent loans.

Compare zero percent interest loan apps in Philippines

Criteria	Finbro	Credify	Cashspace
Amount	₱1,000 – ₱50,000	₱1,000 – ₱25,000	₱1,000 – ₱25,000
Tenor	1 – 12 months	3 – 12 months	61 – 120 days
Age	20 – 70 years old	20 – 70 years old	18 – 70 years old
Approval time	10 minutes	10 minutes	15 minutes
Approval rate	93%	94%	95%

Sources: State Bank reporting.

How to get a 0 interest loan Philippines step-by-step

Here are the steps you need to follow to apply on the online 0 interest loan app:

Step #1: Check your eligibility

To qualify for a 0 interest loan for 12 months, you need to be a Filipino citizen, at least 18 years old, and have a stable source of income.

Step #2: Choose a lender

There are many lenders that offer online loan 0 interest in the Philippines. You can compare their terms and conditions, such as the loan amount, repayment period, and requirements, and choose the one that suits your needs and preferences.

Step #3: Prepare your requirements

Depending on the lender you choose, you may need to submit some documents to prove your identity, income, and address. These may include your valid government-issued ID or payslips.

Step #4: Fill out the application form

Once you have chosen a lender, you can proceed to fill out their online application form.

You will need to provide some personal and financial information, such as your name, address, contact number, email, and income. You may also need to upload some documents to the zero interest loan app if required.

Step #5: Wait for approval and disbursement

After submitting your application, you need to wait for the lender’s approval, which may take from 5 minutes to an hour.

Once approved, you will receive a confirmation message and the loan amount will be disbursed to your bank account.

Top 10 Best 0 interest loan apps in Philippines 2023

The following is a list of the best 0 interest first loan apps for 2023.

App’s name	Loan type	Interest rate
Finbro	0 interest online loan app in the Philippines	0%
Crezu	Zero interest first loan app fast disbursement	Zero percent
Credify	Loan app with 0 interest on first loan	Zero interest
Binixo	Online loan app with zero interest	0 interest
SosCredit	Lending app with 0 interest for 12 months	0 percent

#1. Finbro – 0 interest loan app 2023 in Philippines

• Finbro is a 0 percent interest loan app that offers financial solutions to Filipinos who need cash for emergencies, education, health, or personal needs.
• Finbro offers a great deal for first-time borrowers. You can apply for a loan of any amount between 1,000 pesos and 15,000 pesos and don’t have to pay any interest.
• They offer second loans of up to PHP 50,000, and monthly interest rates from 2.5% to 4.6%. The loan term is up to 12 months.
• The borrower only needs to have one valid ID, a selfie, and a bank account to get a loan. No payslip or collateral is required.
• Address: Unit 1405 East Tower Philippine Stock Exchange Center Exchange Road Ortigas, Pasig City, Philippines.

Pros and cons of Finbro

• Pros: It offers a zero interest loan app that can help borrowers save money. It also has a high approval rate, a wide coverage nationwide, and a customer service team that is available 24/7.
• Cons: Has a low maximum loan amount for the first loan.
• Overall score: 9/10.

Feedback about Finbro

Customers of Finbro praise them for their fast approval, easy application, and low interest rate.

Guide to register for a 0 interest first loan at Finbro

• Step 1: Visit this link:

  FINBRO Website

and choose your desired loan amount and term.

• Step 2:  Fill out the online application form. For more information about Finbro’s 0 interest loan app for students, you can watch this video:

#2. Crezu – Zero interest first loan app with fast disbursement

• Crezu is a zero interest first loan app/website that helps Filipinos find the best online loans in minutes.
• Crezu offers a 0 percent interest loan for new customers. The first loan amount can range from 1,000 to 10,000 pesos and the repayment term can be up to 30 days.
• The second loan amount can range from 1,000 to 20,000 pesos and the repayment term can be from 61 to 120 days. The interest rates and fees for the second loan range from 12% to 36% APR.
• Requirements: Being over 18 years old, being a resident of the Philippines, having an ID card, and having a valid phone number.
• Address: 9th Floor, The Plaza Building, Paseo de Roxas, Makati City, Philippines.

Pros and cons of Crezu

• Pros: It compares hundreds of quotes and lenders in seconds, has fast disbursement, no collateral or guarantor needed, and is a 0% interest loan app for new customers.
• Cons: It is not a direct lender but an intermediary that connects borrowers with lenders.
• Overall score: 8/10.

Feedback about Crezu

Most customers are satisfied with the service and appreciate its speed, convenience, and transparency.

Guide to register for a 0 interest first loan at Crezu

• Step 1: Visit this link:

  CREZU Website

• Step 2: Follow the instructions in this video below to verify your identity and receive your 0 interest first loan.

#3. Credify – Online loan app with zero interest and easy approval

• Credify is an online loan app with zero interest for new customers, easy approval, and fast processing. Credify is backed by Schaefer LLC, a reputable financial company that operates in 9 countries.
• The amount of the first loan of Credify can range from 1,000 pesos to 10,000 pesos with 0% interest and no service charge.
• Based on your repayment history, you can borrow up to 25,000 pesos for your second loan.
• Credify offers flexible loans that you can pay back in a period ranging from 3 months to 12 months.
• The highest annual percentage rate for the second loan you can get is 180%.
• You only need to live in the Philippines and be 20 to 70 years old, have a Philippine bank account, and have a working phone number to get a loan.
• Address: 139 Corporate Center Building, Valero Street, Makati City, Philippines.

Pros and cons of Credify

• Pros: 0 interest loan app, fast and easy application process, money in the bank account or in cash within 15 minutes, flexible repayment options, and 24/7 service.
• Cons: It has a higher interest rate and fees for the second loan compared to the first loan.
• Overall score: 8/10.

Feedback about Credify

Most customers are satisfied with the service and benefits of Credify, especially the 0 interest first loan.

Guide to register for a 0 interest first loan at Credify

• Step 1: Go to this link:

  CREDIFY Website

• Step 2: Watch the video below, which will guide you through the rest of the application process

#4. Binixo – 0 percent interest loan app with minimal requirements

• Binixo is a 0 percent interest loan appthat offers online microfinancing loans. It is a Philippine-based fintech company powered by Infinsacom Kft.
• Borrowers can apply for a first loan of up to 10,000 pesos with no interest or fees.
• The second loan amount can vary from 1,000 pesos to 25,000 pesos, depending on your credit score and other factors.
• Binixo offers flexible loan durations ranging from 3 to 12 months, depending on the borrower’s choice and repayment capacity.
• The borrower must be between 18 to 70 years old, currently employed or with a steady income, have a valid home address in select areas in the Philippines, and have a valid ID.
• Address: Unit 1402-06, 14/F, The Centerpoint Building, Julia Vargas corner Garnet Road, Ortigas Business District, Pasig City, Philippines.

Pros and cons of Binixo

• Pros: It offers a 0 interest loan appwith minimal requirements, has a high approval rate, and fast disbursement of funds within 24 hours.
• Cons: It has a high interest rate and fees for the second loan and subsequent loans.
• Overall score: 7/10.

Feedback about Binixo

Customers appreciate Binixo as one of the best zero interest online loan apps in the Philippines. They have minimal requirements, fast approval, and competitive interest rates.

Guide to register for a 0 interest first loan at Binixo

• Step 1: Go to this link:

  BINIXO Website

• Step 2: Watch the video below and follow the steps to complete your loan application:

#5. SosCredit – One of the best loan apps with 0 interest

• SosCredit is one of the best loan apps with 0 interestfor the first loan to new clients in the Philippines. It is an independent broker and headquartered in Taguig City.
• SosCredit can lend you 1,000 to 10,000 pesos for your first time. No interest if you pay on time and follow the contract.
• The second loan amount can go up to 25,000 pesos, depending on the repayment history and credit score of the borrower. The term can be up to 12 months.
• SosCredit offers second loans with an annual percentage rate (APR) of 143%, and the maximum APR is 180%.
• To be qualified, the borrower must be a Filipino citizen between 20 and 70 years old, have a valid ID card, a bank account with a credible Filipino credit institution, and a mobile phone number.
• Address: Unit 1402 The Trade and Financial Tower, 32nd Street corner 7th Avenue, Bonifacio Global City, Taguig City, Philippines.

Pros and cons of SosCredit

• Pros: It offers 0% interest rates for the first online loan, it does not require a guarantor or a pledge, and it allows borrowing money as many times as needed within the limit.
• Cons: It requires a minimum age of 20 years to get a loan.
• Overall score: 8/10.

Feedback about SosCredit

The SosCredit 0% interest loan appis rated highly for its speed, accessibility, flexibility, and smartness.

Guide to register for a 0 interest first loan at SosCredit

• Step 1: Go to this link:

  SOSCREDIT Website

• Step 2: Watch this video that explains how to complete the application process and what documents you need to provide:

Expert’s opinion about loan app with 0 interest on first loan

According to Mr. Robert Barro, an American macroeconomist: “The 0 interest loan app is a great option for anyone who needs a short-term financial solution with minimal hassle and risk”.

Mr. Milton Friedman, an American economist said that: “Before you download the zero interest first loan app and sign up, you should be aware of some of the risks and drawbacks of using this service. You might face high interest rates and penalties for late payments after your first loan”.

FAQs – 0 interest loan app first loan in Philippines

To address other common queries about online instant loan with zero interest first loan, readers can look at the answers below.

Is there any cash loan without interest?

Yes. There are some online lending platforms that offer 0 interest cash loan on first time, such as Finbro, Crezu, and Credify. These platforms claim to provide fast and easy loans for up to 25,000 pesos.

Can I get a personal online loan with 0 interest?

Yes, you can borrow money with 0 interest. There are some platforms that offer this option for first-time borrowers who meet certain criteria. You need to have a valid ID, a bank account, and a stable source of income to qualify. You also need to repay the loan on time to avoid penalties and maintain a good credit score.

How does a 0 interest first loan app make money?

The 0 interest loan app makes money by charging interest and fees on subsequent loans. The app may also partner with other businesses to offer discounts or incentives to its customers, generating revenue from referrals or commissions.

Should I pay off zero interest personal loans early?

Paying off zero interest first loans early may seem like a good idea, but it depends on your financial situation and goals. If you have other debts with higher interest rates, it may be better to focus on paying them off first. However, if you have no other debts and want to simplify your finances and reduce your payments, paying off the zero percent interest loan early may be a good option for you.

In conclusion – Which is the best loan app with zero interest on first loan?

Among the many options available, we recommend Finbro and Credify as the best 0 interest loan apps in the Philippines.

They offer easy approval, fast disbursement, and minimal requirements. They also have high ratings and positive reviews from satisfied customers.

Thank you for reading this article. Please rate it 5 stars and leave your comments below. We would love to hear your feedback and suggestions.