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One Percent Per Day: What Daily Loan App Rates Really Cost

Contents

One percent per day sounds like spare change, and that is exactly why it is the market's favorite unit. Multiplied by 365, one percent a day is 365% a year. This page is a decoder for daily rates: the full ladder from 0.025% to 1%, the real quotes from our tables, and the arithmetic habit that keeps small numbers honest. Checked September 16, 2026.

The daily-to-yearly ladder

The conversion is one multiplication: daily rate × 365, simple annual math, our estimate at every row.

Daily rate A year later A 30-day loan costs
0.025% ≈9.1% ₱7.50 per ₱1,000
0.05% ≈18.25% ₱15 per ₱1,000
0.096% ≈35% ₱28.80 per ₱1,000
0.0986% ≈36% ₱29.58 per ₱1,000
0.2% ≈73% ₱60 per ₱1,000
0.29% ≈106% ₱87 per ₱1,000
0.4% ≈146% ₱120 per ₱1,000
0.5% ≈182.5% ₱150 per ₱1,000
1.0% ≈365% ₱300 per ₱1,000

The real quotes behind the rows

Every row above maps to a published number. VPlus states 0.05% daily in its example, computing to about 18.25% a year against its own 18% cap. HoneyLoan advertises 0.4% daily on its website, about 146%, while its App Store listing says 0.096%, about 35%. Finbro's example runs 0.0986% daily, matching its 36% APR band exactly. Happy Cash's website says 0.2% daily, about 73%, while its store claims 0.9% monthly, about 10.8%. Mabilis Cash's plank of "₱29 per day for every ₱10,000" works out to about 0.29% daily. Roughly 106% a year. And JuanHand's "as low as 0.025%" is daily per its blog, about 9.1% — though the homepage never states the basis. Full per-app math lives in our rate series and the interest and fees guide.

Why lenders love the daily framing

Two reasons, both behavioral. A small number per day feels affordable in a way a yearly figure does not. ₱29 a day is a snack; 106% a year is a warning. A daily rate also hides the term multiplication: 0.05% a day on 120 days is six times the 20-day cost. That is exactly how short promotional examples become long expensive loans. The discipline that fixes both is the same: multiply by 365 before you feel anything, then run the total through the loan calculator.

One more bound to know. Where caps are disclosed, they apply to the yearly picture: 5% monthly late penalties and a 100% total-cost ceiling are published under SEC MC 14 of 2025, and BSP-framed monthly caps of 6% nominal and 15% effective appear in lender declarations. A daily rate whose yearly figure outruns those caps on interest alone is a disclosure to photograph, not a slogan to believe.

Frequently asked questions

How much is 1% per day on a loan?

One percent daily is about 365% a year on simple math. On ₱10,000, that is ₱100 a day, ₱3,000 a month, before any fees. Where declared caps apply, a charge at that level would need careful reading of your contract.

How do I convert a daily rate to yearly?

Multiply by 365. 0.05% daily is about 18.25% a year; 0.4% daily is about 146%. The methodology page explains when simple conversion understates the true effective cost.

What daily rate is considered high for Philippine loan apps?

Published daily rates in our tables run from 0.025% (about 9.1% a year) to 0.4% (about 146%). Anything above roughly 0.1% daily, about 36% a year, is already above the top of the fair band we track.

The bottom line for borrowers

The daily unit exists to feel small. Multiply by 365, compare against the published caps, and the market becomes legible. Every row in the ladder maps to a lender's own disclosure, checked September 16, 2026.

Sources used for this review