There are two (2) classifications of Personal Loans: Secured and Unsecured.
Secured Loan - uses a collateral as a pledged security for repayment of a loan, to be forfeited in the event of a default. However, borrowers enjoy lower interest rates.
Unsecured Loan - does not require any form of collateral from the borrower but the applicable interest rate is higher as compared to the Secured Loan.
Loan amount ranges from Php 10,000 up to Php 3,000,000
Loan terms is from 6 months up to 8 years
Loan amount ranges from Php 10,000 up to Php 300,000
Loan terms is from 6 months up to 3 years