Another option could be bad credit rating cards which, as the name suggests, are specifically designed for those with a poor credit rating. They could help you improve your credit rating so you can access more competitive products in future. They're likely to have a high interest rate and no interest-free promotional period, though, so always try to pay off types of personal bank loans balance in full each month.

Remember that, if you plan to withdraw cash, a credit card is unlikely to be the right choice as you'll be charged a fee and interest. Explore peer-to-peer lending. Peer-to-peer lending is worth looking into, but attractive deals are likely to require a good credit history.

Types of personal bank loans

Processing Fee: PHP 1,500. Tenure: 24 or 36 months. Mode of Payment: Over-the-counter at any PSBank branch nationwide BancNet ATMs nationwide and BancNet Online for clients who have deposit accounts in these banks Via PSBank Online for enrolled and activated PSBank accounts Client-initiated deductiondebit from PSBank deposit account only Fund Transfer from another PSBank deposit account.

Terms and Conditions: Minimum of PHP 20,000. 00 Maximum of PHP 250,000. Processing time: 5-9 business days.

Types of personal bank loans

Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments. Safe.

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Types of personal bank loans