Product Review of BSP Loan

Public Notice – Disclaimer: We currently do not partner with BSP and details about BSP herein are solely for information purposes only. For other loan provider alternatives, check out below. For partnership concerns, click here.

If you are looking specifically for BSP Loan, please visit their website at www.bsp.gov.ph or contact them at (632) 988.4800. Thank you.


It can be defined on two viewpoints: the lender and the borrower’s viewpoints. In terms of the borrower, interest rate is the cost of the loan. It is money he parts with to pay the loan on top of the borrowed amount. On the other hand, lenders treat it as a charge or fee for letting you borrow money from them.

DOES BSP REGULATE INTEREST RATES IMPOSED BY LENDERS?

Bangko Sentral ng Pilipinas does not regulate interest rates charged by banks, financial institutions and pawnshops, although it sets a ceiling on how much lenders should charge borrowers for all types of loans. BSP also offers emergency loans to banks and other financial institutions to cover their deficits. The BSP rate for these loans for banks also varies depending on several factors. To know how much a bank is charged a unique BSP rate application form for a loan is filled out by borrower banks so they can be evaluated if they are eligible for the amount they are borrowing.

For more information contact the BSP Branch nearest you or call (632) 988.4800. You can also visit their website at www.bsp.gov.ph.

IS LOANSOLUTIONS UNDER BSP?

Because Loansolutions is not in itself a lending company, but merely an instrument to help borrowers get matched with the most suitable lender, its operations is not regulated by the Bangko Sentral ng Pilipinas. Our partner banks and lending investors are however regulated and monitored by BSP. If you enlist our help to match you with a bank or lender and you get approved for a loan in a certain amount, you will then be transacting your business with the lender, which is in turn provides loan reports to Bangko Sentral ng Pilipinas.

WHY DO LENDERS’ INTEREST RATES ON LOANS VARY?

Since Bangko Sentral ng Pilipinas sets a ceiling on the interest rates that lenders charge their borrowers, the lenders now have to determine how much they can charge that is within the rate ceiling based on different considerations such as the cost of doing business and the prevailing interest rates in the money market.

Having even a simple knowledge on how banks and financial institutions charge interest rates is important to borrowers so they cannot be robbed and be charged with exorbitant rates that others charge to take advantage of the needs of borrowers. With Loansolutions, you have the option to choose which lender to apply a loan from, depending on your qualifications and paying capacity. We make sure that you only get approved with the best loan that is tailor-made for you and your needs.