At banks, the application process can be cumbersome due to the strict documentation standards you must meet.
In addition, due to the large number of documents that need to be gone through among other factors, the time may take several days. The official waiting time can be 3-7 business days, but due to paperwork delays and long queues, you may have to wait up to two weeks.
In contrast, online loan companies such as finbro philippines make it easy to apply for affordable loan products. Online lenders require minimum requirements hence a lower entry threshold for both borrowers and investors compared to banks. This means fast loan approval
