How to Pay your Loan via GCash in the Philippines

Last updated: January 16, 2025

Written by: "Big Loan" Writers Team | Reviewed by: Anna Kireeva

Key takeaways:

  • GCash is a mobile wallet app. You can use it to pay your bills.
  • In addition, you can use GCash to pay a "Big Loan" loan.
  • You will find detailed instructions in this article.

"Big Loan" is at the forefront of adopting novel solutions to provide innovative financial solutions to customers. As a legit and state licensed lender, we have a strong presence throughout the Philippines.

All operations are performed online - you don't have to leave your house. In only 4 minutes you can receive up to 10,000 pesos in your bank account, and up to 25,000 pesos for repeat borrowers. We don't require guarantors representation, documentation, or guarantee deposits. We only require 1 government valid ID.

"Big Loan" is a fully automated lender. One can apply for a personal loan of up to PHP 25,000 through our website at any time. Our loan approval rates are as high as 95%, and the loan disbursal happens within a few hours. Those without a bank account can avail of our loans through their GCash accounts and make the repayments thru GCash. You can also do this in the Dragonpay app.

Our continuous efforts to explore all possible avenues to improve customer experience help users make timely payments. It eliminates the chances for late fees or impact in their credit score, making them eligible for better loans in the future.

How to pay "Big Loan" Loan thru GCash

To understand how to pay "Big Loan" loan in GCash, you need to know your Lifetime ID. Everyone who has ever borrowed from "Big Loan" has this. You will see your Lifetime ID in your personal profile on "Big Loan" website. It consists of three letters and five numbers.

Step 1

Log in to the GCash app and tap "Bills"

Step 2

Then select "Loans"

Step 3

Choose "Dragon Loans" or "BigLoan Finance Corp."

Step 4

Then fill a quick form with your personal information:
- Lifetime ID: Your Lifetime ID
- Borrower Name: Full name
- Contact Number: Active mobile number
- Email: Active email address
Note the check box at the bottom

Step 5

Then click "Confirm". You will receive an SMS confirmation with GCash bills payment receipt for the transaction as well.

For questions call us at support@bigloans.ph

What is GCash?

The Philippines is a severely underbanked nation. Data from the Bangko Sentral ng Pilipinas (BSP) and recent analyses indicate that approximately 44% of the adult population —around 34.3 million people—are still unbanked as of 2023.

The primary reasons for the abysmally low banking penetration levels are the uneven distribution of banking infrastructure and the documentation requirements for opening a banking account. Banks are not keen on opening up their branches in remote rural areas due to the high operational costs and viability concerns. Banking regulatory bodies mandate that each account should be Know Your Customer (KYC) compliant.

It necessitates the customer to furnish a set of documents such as a birth certificate, identity cards, or a slew of other papers to make their account active. For many, these are some of the valid reasons for not opening a bank account.

When a financial emergency strikes, this unbanked population draws money from individuals, often at a higher rate than banks, which leads to debts. Even for those with a bank account, the long queues and the physical exertion of traveling to a distant location are a daunting task. It can cost them workdays and income as well. In such a situation, fintech solutions are a bliss both for the banks and for the customers. They relieve the banks from the vast expenditure on setting up branches across the country.

On the other hand, it enables a customer to perform banking operations at any time from anywhere using his smartphone without leaving his comforts. With an Internet penetration level of 70% and 73 million users, the Philippines constitute the perfect ecosystem for any fintech solutions to nurture. GCash, with an expanding user base of 20 million, is a prime example of it.

GCash is a mobile wallet app. Like any other eWallets, e.g. Lazada e-wallet or Paymaya e-wallet, enables the user to perform digital transactions such as bill payment, mobile load, online purchases, or money transfer in an easy and stress-free way. GCash strictly adheres to Bangko Sentral ng Pilipinas guidelines and it assures a secure and robust platform for all transactions.

How to Register to GCash?

The very first step in configuring a GCash wallet system is creating an account with the system. There are four ways to set up a GCash account:

Through GCash Website

• Access the registration link on www.GCash.com and submit your mobile number;
• Enter the 6 digit verification code received through SMS and proceed with the registration process;
• Fill out the GCash registration form with accurate information such as full name, birthday, home address, and email address;
• Set a 4 digit MPIN or Mobile PIN for your account;
• Scan the QR code displayed on the screen using your mobile phone and download the GCash Mobile App;
• You should be able to access the GCash Wallet using the mobile phone and the MPIN.

Registration through GCash App

• Download the official GCash App from Play Store or App Store;
• Enter your mobile number and verify your mobile number by entering the 6 digit verification code when prompted;
• Accept the terms and conditions. Fill the registration form with the necessary personal information such as name, birthday, residential address, and email address;
• Set a 4 digit Mobile PIN or MPIN to use as a password to access your GCash account.

GCash Registration via the *143# Menu

• Dial *143# on your mobile phone and choose the number corresponding to GCash;
• Select the number for register and choose your 4 digit MPIN;
• Provide the necessary personal information such as name, birth year, and address to complete the registration process;
• After that, you will get a confirmation message about the registration completion.

GCash Registration via Messenger

• Log in to your account in the FB messenger and search for @GCashofficial;
• Click on "Start an Account" and provide your mobile number when prompted;
• Read and accept the terms and conditions;
• After that, you will get a verification code to complete the account linking process;
• After the account setup, you can set a 4 digit MPIN by taping the "Create PIN" option;
• The system will send you confirmation about the successful configuration of MPIN, and you can start using it.

You can't start using the wallet immediately after registration. The account has to be verified first to make any transactions. It can be roughly compared with the KYC process in a conventional banking system, but it's much easier here.

There are three levels of GCash account verification: basic, semi-verified, and fully verified accounts. Only fully verified accounts enjoy all the features. The steps to achieve it with your GCash login are the following:

Verification Steps

1. Login to your GCash account and select the option "Verify Now";
2. Tap "Get Fully Verified" and choose a valid ID from the list;
3. Take a clear photo of the ID mentioned using your mobile phone;
4. Click "Next" and take a clear selfie;
5. Fill in the necessary data and submit;
6. You will get a GCash Account Verification confirmation email within 30 minutes.

Alternatively, you can perform the GCash account verification from your nearest Globe Store or any GCash Partner Outlet, GPO, as well.

Types of GCash Online Loans: GLoan, GCredit and GGives

GCash offers several types of online loans to its users:

GLoan

A personal loan service that allows you to borrow money directly through the GCash app. The loan amount can be used for any purpose, and the repayment terms are flexible.

GCredit

A credit line service that lets you make purchases even when your GCash wallet is empty. You can use it for online and offline transactions, and pay later.

GGives

A buy now, pay later service that allows you to purchase items from partner merchants and pay in installments. It's perfect for bigger purchases that you want to spread out over time.

How to Get a GCash Online Loan?

To get a GCash online loan, you need to follow these steps:

Step 1: Download and Register

• Download the GCash app from the App Store or Google Play Store;
• Register for a GCash account using your mobile number;
• Complete the verification process by providing your personal information and valid ID.

Step 2: Check Eligibility

• Open the GCash app and go to the "Borrow" section;
• Check if you're eligible for GLoan, GCredit, or GGives;
• Review the loan terms and conditions.

Step 3: Apply for a Loan

• Choose the type of loan you want to apply for;
• Enter the loan amount and select the repayment term;
• Review the interest rate and fees;
• Submit your application.

Step 4: Wait for Approval

• GCash will review your application;
• You'll receive a notification about the approval status;
• If approved, the loan amount will be credited to your GCash wallet.

GCash Online Loan Requirements

To be eligible for a GCash online loan, you need to meet these requirements:

Basic Requirements

  • Must be at least 18 years old
  • Must be a Filipino citizen or resident
  • Must have a valid government-issued ID
  • Must have a fully verified GCash account

Additional Requirements

  • Must have a good credit history
  • Must have a stable source of income
  • Must have an active GCash account for at least 3 months
  • Must have a minimum transaction history

GCash Online Loan Interest Rates and Fees

GCash offers competitive interest rates and fees for their online loans:

GLoan

  • Interest rate: 1.59% per month
  • Processing fee: 5% of the loan amount
  • Late payment fee: 5% of the overdue amount

GCredit

  • Interest rate: 5% per month
  • No processing fee
  • Late payment fee: 5% of the overdue amount

GGives

  • Interest rate: 0% for 3 months
  • Processing fee: 3% of the purchase amount
  • Late payment fee: 5% of the overdue amount

How to Repay GCash Online Loans

You can repay your GCash online loans through these methods:

Automatic Deduction

The loan amount and interest will be automatically deducted from your GCash wallet on the due date.

Manual Payment

You can manually pay through the GCash app by selecting the "Pay Bills" option and choosing the loan type.

Over-the-Counter Payment

Visit any GCash partner outlet or payment center to pay your loan in cash.

Advantages and Disadvantages of GCash Online Loans

Advantages

  • Quick and easy application process
  • No need to visit a physical branch
  • Competitive interest rates
  • Flexible repayment terms
  • No collateral required
  • Instant approval for eligible users
  • Multiple loan options available

Disadvantages

  • Limited loan amounts for new users
  • Strict eligibility requirements
  • High interest rates for some loan types
  • Late payment fees can be expensive
  • Requires a fully verified GCash account
  • Not available for all users

Frequently Asked Questions

What is the maximum loan amount I can get?

The maximum loan amount depends on your credit score, transaction history, and account status. New users typically start with smaller amounts, while long-term users with good payment history can access higher limits.

How long does it take to get approved?

Most applications are processed within minutes. If approved, the loan amount will be credited to your GCash wallet immediately. However, some applications may require additional verification and take longer to process.

What happens if I miss a payment?

Missing a payment will result in late payment fees and may affect your credit score. It's important to pay on time to maintain good standing and access to future loans. If you're having trouble making a payment, contact GCash support as soon as possible.

Can I apply for multiple loans?

You can have multiple loans as long as you meet the eligibility requirements and have a good payment history. However, the total amount of all your loans cannot exceed your maximum credit limit.

Is my personal information safe?

Yes, GCash uses advanced security measures to protect your personal and financial information. All transactions are encrypted, and the app requires authentication for sensitive operations.

Disclaimer:

This article was written based on information available to the writer at the time of publication and the article was published for instructional, research, reference, and educational purposes only. The information and data used and disclosed in this article are publicly available and the writer or the Company does not claim any exclusive ownership or proprietary right over the information, data, literature or article sourced or obtained from publicly available sources. Some of the information, data, and/or materials cited in this article which were obtained from publicly available sources belong to the owner of the information or data, and the use thereof in this article are covered by fair use under applicable intellectual property laws. Nothing in the articles published in the website is intended to constitute legal or financial advice and users are advised to seek counsel from legal and financial professionals. Likewise, rates or offers published in the website are promotional marketing offers only and do not constitute any binding contract between the Company and the users. While the writers and publishers of the articles in the website wrote the articles using credible information available to them at the time of publication, any changes or updates to the information presented in this article may not be reflected here. Users are enjoined to exercise appropriate diligence in using the data and information published in the website, and they are urged to study and compare it with other credible sources. Users understand that the writers, publisher, website owner and the Company are not liable for any damage or injury they sustained for their wrongful or erroneous use of the data or information written in the article and published in the website. Furthermore, the use of trademarks, marks, brands, business names, and/or trade names in this article is for instructional, research, and reference purposes, which are governed by the fair use principle under applicable intellectual property laws. The writer, publisher, website owner and the Company disclaims ownership, use for commercial purposes, and/or appropriation of the trademarks, marks, brands, business names, and/or trade names belonging to another. Note: The information presented in the tables is subject to change and users are advised to contact their chosen bank/ financial entity directly for the updated information.