Is Direct Loan legit?
Yes. Direct Loan is on the SEC list of recorded online lending platforms. It is run by iDIRECT FINANCE COMPANY INC (SEC Reg. No. 2021080023709-02, CA No. F-21-0010-64). The SEC list dated Sep 29, 2026 records it as "Direct Loan". SEC list, Sep 29, 2026
| Item | Result | Source |
|---|---|---|
| App on the SEC list of recorded online lending platforms (dated Sep 29, 2026) | Yes, as "Direct Loan" | SEC list, Sep 29, 2026 |
| Company and SEC Reg. No. | iDIRECT FINANCE COMPANY INC., 2021080023709-02 | SEC list, Sep 29, 2026 |
| Certificate of Authority No. | F-21-0010-64 (as printed by Direct Loan) | Google Play, updated Jul 23, 2026 |
| Price published | Yes: Interest 0.06% a day; maximum APR 21.9%; disbursement fee 0. | Google Play, updated Jul 23, 2026 |
| Loan amount and term | ₱1,000 to ₱40,000, over 180 to 360 days | Google Play, updated Jul 23, 2026 |
| Google Play rating | 3.4 of 5 from 68 ratings, 10K+ installs, as of Oct 2, 2026 | Google Play, updated Jul 23, 2026 |
On ₱5,000 for 180 days, Direct Loan's published terms come to at most ₱540 in interest and fees: interest of 1.8% a month and an all-in cost of 3% a month, higher because you repay in instalments but pay interest on the original amount the whole time. Direct Loan on Google Play, updated Jul 23, 2026
Working: 21.9% a year × 180/365 days × ₱5,000 = ₱540 interest. The all-in rate is the monthly rate at which 6 payments of ₱923 repay the ₱5,000 you receive (SEC MC No. 14 s.2025 Sec. 2(d)).
The SEC caps (6% a month interest, 12% a month all-in) cover only loans of ₱10,000 or less for up to four months, so they do not apply to this loan. SEC MC No. 14 s.2025
Next: check the worked Disclosure Statement below, then compare Direct Loan with the other recorded apps, or get it from its official Google Play listing.
For employees of Direct Loan's partner companies; repayments come out of your salary.
Direct Loan interest rate and what you pay back
Interest 0.06% a day; maximum APR 21.9%; disbursement fee 0.Its own example, ₱15,000 for 180 days
repay ₱2,500 and ₱270 interest every 30 days (monthly)... divided into 6 installments
- You pay back
- Up to ₱5,540
- Cash you receive
- ₱5,000
- Interest and fees
- Up to ₱540
- Interest a month, at most
- 1.8%
- All-in cost (EIR) a month, at most
- 3%
- Share of the loan
- 10.8%
The SEC ceiling covers loans up to ₱10,000 and 120 days.
Terms from Direct Loan's Google Play listing, updated Jul 23, 2026. The calculator gives the same ₱16,620 for Direct Loan's own example. Documentary stamp tax on a ₱5,000 loan for 180 days is about ₱18.49 (NIRC Sec. 179); check whether the Disclosure Statement passes it on. DST calculator Source
Direct Loan Disclosure Statement, worked out: ₱5,000 for 180 days
Direct Loan must give you this statement in writing before the loan is made (RA 3765, the Truth in Lending Act, Sec. 4). These are the figures it should show at its published maximum; if yours differ, ask why before you accept.
| Figure | Inputs | Rule | Result |
|---|---|---|---|
| Amount financed | ₱5,000 borrowed, nothing taken off | RA 3765 Sec. 4(5) | ₱5,000 |
| Interest | 21.9% a year × 180/365 days × ₱5,000 | Direct Loan's published maximum | ₱540 |
| Finance charge | Interest + every fee above | RA 3765 Sec. 4(6) | ₱540 |
| Simple annual rate | Direct Loan publishes its maximum APR | RA 3765 Sec. 4(7) | Up to 21.9% |
| Documentary stamp tax on the loan | ⌈₱5,000 ÷ ₱200⌉ × ₱1.50 × 180/365 | NIRC Sec. 179, as amended by RA 10963 | ₱18.49 |
| Owed to you if the statement leaves one out | Greater of ₱100 or 2 × ₱540, up to ₱2,000 | RA 3765 Sec. 6(a) | ₱1,080 |
Should you borrow from Direct Loan?
For ₱5,000 over 180 days, Pocketcash (Elending) costs at most ₱450, which is ₱90 less than Direct Loan's published maximum of ₱540.
Choose Direct Loan if
- you want to spread payments over as long as 360 days.
- you have one valid ID and no payslip.
Skip Direct Loan if
- you want a loan shorter than 180 days.
- you have no regular income: it asks for "employee of a partner company in the Philippines".
- your employer is not one of its partners: it lends only through them.
Direct Loan requirements, customer service and how to pay
- Requirements
- Employee of a partner company in the Philippines; 18 years old or above; One valid ID
- In its words
Easy Application: Just 1 valid ID
- cs@directloan.ph
- Phone
- Not listed on its Google Play listing
- Pay through
- Wage withholding through your employer
As Direct Loan lists them on its Google Play listing, updated Jul 23, 2026. Use only these channels or the app itself. Source
If you cannot pay Direct Loan on time
On Direct Loan loans above ₱10,000 or longer than four months, the penalty is whatever your contract and Disclosure Statement say; the SEC's 5% a month cap covers only smaller, shorter loans. iDIRECT FINANCE COMPANY INC's collectors, and any agency it hires, may not post your details, threaten you, call before 6 a.m. or after 10 p.m., or message anyone in your contacts except the guarantors you named (SEC MC No. 18 s.2019).
Complain to Direct Loan first at cs@directloan.ph. If that fails, report iDIRECT FINANCE COMPANY INC to the SEC on hotline 14732 or the iMessage portal, and report messages to your contacts to the National Privacy Commission at complaints@privacy.gov.ph. All eight prohibited collection practices.
This page covers Direct Loan's published terms and SEC record, not the offer in your own loan agreement. For a dispute over a specific loan, contact Direct Loan first, then the SEC (hotline 14732); for a legal claim, a lawyer.
Questions about Direct Loan
Who owns Direct Loan?
iDIRECT FINANCE COMPANY INC (SEC Reg. No. 2021080023709-02), per the SEC list dated Sep 29, 2026.
What is Direct Loan's interest rate?
Direct Loan states (Direct Loan's Google Play listing, updated Jul 23, 2026): "Interest 0.06% a day; maximum APR 21.9%; disbursement fee 0." On ₱5,000 for 180 days: interest of 1.8% a month and an all-in cost of 3% a month, higher because you repay in instalments but pay interest on the original amount the whole time.
What are the requirements for Direct Loan?
Direct Loan lists (Direct Loan's Google Play listing, updated Jul 23, 2026): Employee of a partner company in the Philippines; 18 years old or above; One valid ID.
What is Direct Loan's customer service number or e-mail?
E-mail: cs@directloan.ph. As listed by Direct Loan (Direct Loan's Google Play listing, updated Jul 23, 2026).
How do I pay my Direct Loan loan?
Direct Loan lists these channels (Direct Loan's Google Play listing, updated Jul 23, 2026): Wage withholding through your employer. You should get a payment reference or receipt in the app; if none appears, the payment has not posted, so keep your proof of payment.
Does Direct Loan call your contacts?
iDIRECT FINANCE COMPANY INC may not contact anyone in your phone contacts except the guarantors or co-makers you named, even if you allowed access (SEC MC No. 18 s.2019, Sec. 1(h), issued Aug 19, 2019). Raise it with Direct Loan at cs@directloan.ph, then the SEC on 14732.
Cheaper than Direct Loan for ₱5,000 over 180 days
No lender pays to appear on this site or to change its position.
- Pocketcash (Elending): at most ₱450 in interest and fees (18% a year × 180/360 days × ₱5,000 = ₱450 (interest and fees)); lends ₱1,000 to ₱50,000.
- Vplus: at most ₱450 in interest and fees (18% a year × 180/360 days × ₱5,000 = ₱450 interest); lends ₱1,000 to ₱50,000.