Need a personal loan? Here’s what you need to know

Posted at Jul 06 2014 08:41 AM | Updated as of Jul 06 2014 04:41 PM

(Editor's note: This article was written by MoneyMax, the Philippines’ foremost online platform for comparing financial and telecom products and services, for Find out more at

MANILA, Philippines - Most Filipino workers will agree that pay days feel like holidays. These are the best days of the month when a pat on the back for a job well done is often coupled with good food, few beers, and an entire night of laughter.

The 15th and 30th of the month are constant days when everyone expects heavy traffic. Almost everyone is rushing to the bar to grab some drinks or to go to the mall to shop for clothes or buy groceries. There are also some who opt for a good massage or a drive out of town to relieve their selves from all the hustle and bustle in the metro. Perhaps the expectation of congested roads alone is enough reason to conclude that every pay day is when good things happen for most Filipinos.

Or maybe not, for millions of us living on minimum wage earning P466 per day and have a pile of bills to settle. In this case, celebrating every time you get your paycheck makes you guilty and makes you feel like you’re one step farther from achieving your goals.

Turning your ambitions into reality is the greatest thing that can give you a real sense of fulfillment.

But how can minimum income earners possibly achieve their personal goals?

Most of us have been saving money, but how much time do we need to wait before we can finally tick off one goal from the bucket list?

This is where personal loans and salary loans enter the picture.

A lot of people apply for personal loans so that they can live to the fullest and improve their way of life without adding more years to their lives. You don’t have to save money for several years so you can go on vacation, pay for your kid’s tuition fees, buy new appliances, or pay for emergency hospital bills. There are so many things that a personal loan can do to improve one’s way of life, have a more positive outlook and attend to emergency needs that your salary cannot afford to cover.

Here's an infographic on what you need to know about personal loans prepared by