All Articles With Category : Personal Loan
The latest and the best financial news, tips and tricks.
Is Getting a Personal Loan Worth It? Here’s What to Consider
- By Moneymax
- September 24, 2021
When in need of funds for emergencies, we think twice about whether we should borrow money or not. We often ask: Is getting a personal loan worth it? Right now, when we think of the pandemic and everything that’s been happening, we immediately assume that personal loans are the best answer to our financial difficulties. But are they, really? In this article, we’ll give you some personal loans advice to help you weigh your options and decide if getting a personal loan is worth it or not. Table of ContentsIs It Bad to Get a Personal Loan?Advantages of a Personal LoanDisadvantages of a Personal LoanIs Getting a Personal Loan Worth It?Debt ConsolidationHome RenovationVehicle FinancingHospitalization and Medical NeedsShould I Get a Personal Loan?Final Thoughts Is It Bad to Get a Personal Loan? The quick answer: not always. There are good and valid reasons to get a personal loan because it can be used for almost anything. It can be beneficial in a lot of situations, especially for emergencies. But there are major repercussions if you’re not careful. Advantages of a Personal Loan But personal loans can also come in handy, especially when your funds are running low. Here are some reasons to consider getting one: Flexible – Unlike car loans and home loans that can only be used to purchase a car or a house, personal loans can be used to fund different expenses, whether planned or unplanned. Higher loan amounts – Depending on the lender, you can borrow anywhere between PHP 10,000 and PHP 2 million. No collateral – Unsecured…
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Applying for a Personal Loan? Check Out This PSBank Flexi Loan Guide
- By Moneymax
- September 22, 2021
Dubbing itself as “The Friendly Bank,”[1] PSBank has definitely proven that it’s one of the most reliable retail financial institutions in the country. It has cemented its reputation as a bank that offers products with quick turnaround times, such as the PSBank Auto Loan and the PSBank Home Loan. Nevertheless, PSBank is also strong in the personal loan department, especially with the PSBank Flexi Loan. You can use it to fund your dream business or deal with certain emergencies. In this article, you’ll find out why this loan product is unique and why it will make a good solution to your financial hitches. We’ve also put together a simple guide that will walk you through the application process. Table of ContentsWhat is PSBank Flexi Personal Loan?What are the Benefits of the PSBank Flexi Personal Loan?1. Functions Like a Credit Card2. No Need for Reapplication3. Allows You to Withdraw Cash4. Earns You Rebates 5. Doesn’t Require Any CollateralHow Much Can I Borrow with the PSBank Flexi Personal Loan?What is the Payment Tenor of the PSBank Flexi Personal Loan?What are the Interest Rates of the PSBank Flexi Personal Loan?How to Apply for the PSBank Flexi Personal Loan?PSBank Personal Flexi Loan FAQs1. What’s my PSBank Flexi Loan application’s turnaround time?2. How does the Prime Rebate work?3. Does the PSBank Flexi Loan have additional charges?4. How can I pay my monthly dues?Final Thoughts What is PSBank Flexi Personal Loan? While most loan products just provide you with the cash that you need, PSBank does more than that. The PSBank Flexi Personal Loan now includes “With…
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How to Compare Personal Loan Rates: Know Which Loan is the Best for You
- By Moneymax
- September 16, 2021
Whether to cover medical costs, pay for a child’s tuition, or fund daily sustenance amid unemployment, personal loans are one of the easiest ways to address financial difficulties. But getting a personal loan should not be taken lightly. You don’t just grab whatever is available at the moment. Personal loans work very differently from other types of credit because you need to learn how to compare personal loan rates and other features to make sure you can realistically pay it back. In this article, we’ll discuss the most important details you should look for when shopping for a personal loan and how to compare personal loan rates and offers from different lenders. Table of ContentsHow to Compare Personal Loan Rates: 6 Things to Look For1. Type of Loan2. Fixed-Rate or Adjustable Rate3. Loan Tenure4. Monthly Flat Rate and Annual Percentage Rate (APR)5. Monthly Repayment Amount6. Total Repayment AmountFinal Thoughts How to Compare Personal Loan Rates: 6 Things to Look For Whether it’s your first time to take out a personal loan or not, it’s important to know how to compare loans among different lenders to make sure you’re getting the right loan product. Here are important things to take note of. 1. Type of Loan Naturally, the best personal loan for your purpose will greatly depend on your current financial status. You may be looking for the most basic type of personal loan, with monthly interest and regular repayments made over a stated period of time. Examples of these include installment loans and debt consolidation loans. You may also be…
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Looking for the Best Personal Loan in the Philippines? Check Out These 7 Great Options
- By Rouselle Isla
- September 10, 2021
When times are hard and the future is uncertain, a personal loan can be very beneficial in expanding our source of income and managing our cash flow. It’s a quick and easy financial solution for our many money woes. But with so many top loan providers in the Philippines, choosing which one to apply for can be time-consuming. That’s why we came up with this list to help you find the best personal loan in the Philippines for your needs. Learn more about each loan product’s features and benefits and what loan purposes they’re ideal for. Table of ContentsWhat’s the Best Personal Loan in the Philippines?☑️ EasyRFC Multi-Purpose Loan☑️ Citibank Personal Loan ☑️ BPI Personal Loan ☑️ SB Finance Personal Loan☑️ Tala Personal Loan☑️ EastWest Personal Loan ☑️ CIMB Personal Loan5 Things to Consider When Choosing the Best Personal Loan1. Eligibility Requirements2. Loan Purpose3. Interest Rates and Other Fees4. Loan Term5. Loan Repayment PlanFinal Thoughts What’s the Best Personal Loan in the Philippines? How do you choose a personal loan that’s right for your needs and your budget? Here’s a rundown of where to borrow money in the Philippines that can help you with your cash emergency. ☑️ EasyRFC Multi-Purpose Loan 📌 Best online loan for emergencies The EasyRFC Multi-Purpose Loan is an online loan that can be very beneficial these days. Because you can apply for RFC online, it’s a very safe, quick, and convenient way of borrowing money. You can borrow up to PHP 150,000 and enjoy flexible payment terms of up to 12 months. It also offers a 4% monthly…
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How to Apply for a CIMB Personal Loan (It’s Easy, Quick, and Convenient!)
- By Moneymax
- September 9, 2021
CIMB Bank is an all-digital bank that provides financial products and services to help you achieve your life goals. Aside from savings accounts, CIMB also offers a personal loan product customized to address different needs. Learning how to apply for a CIMB loan can help you take advantage of a loan amount of up to PHP 1 million. Let’s walk through the things you need to know about this personal loan in the Philippines and how to increase your chances of a CIMB Personal Loan approval. Table of ContentsWhat is the CIMB Personal Loan? What is the CIMB Personal Loan Interest Rate? How Long is the CIMB Personal Loan Application Process? Who is Eligible for a CIMB Personal Loan? What are the CIMB Personal Loan Requirements?How to Apply for a CIMB Personal LoanCIMB Loan Application Steps for New BorrowersCIMB Loan Application Steps for Existing BorrowersCIMB Personal Loan FAQS1. Can I apply for a CIMB Personal Loan via GCash?2. What is the interest rate for CIMB Personal Loan/GCredit?3. Will my GScore affect my CIMB Personal Loan application?4. How much can I borrow from GCredit? 5. How is Revi Credit different from the CIMB Personal Loan?6. What is a CIMB Personal Loan revision?7. What is the CIMB Personal Loan disbursement process?8. What should I do if my CIMB personal loan application is rejected? 9. How can I cancel my CIMB Personal Loan application?Final Thoughts What is the CIMB Personal Loan? The CIMB Personal Loan is a fully digital personal loan product that allows you to get a loan amount from PHP 30,000 to PHP 1 million, payable in…
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Reasons for Personal Loan Rejection: Why Banks Decline Loan Applications
- By Venus Zoleta
- September 7, 2021
Rejection of any kind is hard to accept—more so if it involves money. Case in point: getting your personal loan application denied. Your time and effort spent preparing your requirements and waiting anxiously for the loan approval all just went to waste. It makes you want to demand an explanation from the lender. What could be the reasons for personal loan rejection, you wonder. But no need to go berserk to try and reverse the lender’s decision. Cooler heads always prevail, so try to find out why your personal loan application was rejected and how to correct the problem. Table of ContentsTop 7 Reasons for Personal Loan Rejection1. Insufficient Income2. Unstable Employment Record3. Requesting a Higher Amount Than What You Can Actually Repay4. Bad Credit Score5. Having Too Much Debt6. Incomplete and Inconsistent Details7. Failure to Meet Eligibility RequirementsMy Loan Application was Declined. When Can I Apply Again?What to Do After a Personal Loan RejectionFinal Thoughts Top 7 Reasons for Personal Loan Rejection Personal loan providers in the Philippines base their credit decisions on a borrower’s financial information and their assessments from credit investigations and background checks. If you received a no from a lender, it’s likely due to the any of following reasons. 1. Insufficient Income It doesn’t matter if you have enough money on your account. Banks and lending companies will reject your personal loan application if your income can’t sustain the monthly loan repayment. They always require borrowers to meet a minimum annual or monthly income requirement. Before you sign that application form, check the minimum income…
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12 Personal Loan Tips to Raise Your Chance of Getting Approved
- By Moneymax
- September 3, 2021
A lot of us have been hoping for financial relief even before the pandemic. Aside from juggling several jobs, most of us rely on personal loans as a quick solution for our financial woes. But doing the hard work and enduring the tedious loan application process still won’t let money come so easily sometimes. As a result, borrowing from banks and other lending institutions has become a disappointment for Filipinos who have been declined several times already. This is not the time to give up, though. We’ve listed down some useful personal loan tips to improve your chances of getting approved. Read on to learn more ways to ensure better chances of approval for your personal loan application. Table of ContentsPersonal Loan Tips to Help Improve Your Application1. Be Realistic with Your Numbers2. Understand the Types of Personal Loans Available3. Compare Personal Loans4. Talk to Lenders5. Have Your Personal Loan Application Documents Ready6. Check Your Assets and Liabilities7. Improve Your Credit History8. Make Sure You Have Proof of Income9. Be a Disciplined Borrower10. Try the Lender’s Loan Calculator11. Improve Your Relationship with the Bank12. Know the Difference Between Good Debt and Bad DebtPersonal Loan Tips to Speed Up Your ApplicationWhat to Do When Your Loan Application is DeniedFinal Thoughts Personal Loan Tips to Help Improve Your Application Ready to apply for a loan? Check this list first before submitting that application. 1. Be Realistic with Your Numbers Make sure you’re borrowing an amount you can realistically pay. You can use the debt-to-income ratio to measure how much of your salary…
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Borrower’s Guide to Unsecured Loans in the Philippines
- By Moneymax
- September 2, 2021
Being short on cash is a reality that a lot of us face. Thankfully, there are many banks and lending firms that offer unsecured loans. However, it would be unwise to just go for the first lender that comes your way. You have to arm yourself with knowledge first so you’ll be able to make an informed decision. Otherwise, you’ll find yourself paying hefty amounts of interest and other fees that you didn’t anticipate. This guide outlines all the important things you need to know about an unsecured loan, also known as no collateral loan in the Philippines. We’ve also listed some reputable banks and lenders that you may want to consider. Table of ContentsWhat is an Unsecured Loan?Secured Loans vs Unsecured Loans: What are the Differences?What are the Types of Unsecured Loans?💳 Credit Cards💰 Personal Loans💸 Salary LoansWhat are the Advantages of Unsecured Loans?1. No Asset to Lose2. Quicker Access to Funds3. No Down Payment4. Ideal Option for Borrowing Smaller AmountsWhat are the Disadvantages of Unsecured Loans?1. Harder to Qualify For2. Higher Interest Rates3. Lower Loan Amount4. Shorter Loan TermsWhat Lenders Check in an Unsecured Loan ApplicationYour Credit Your IncomeYour Debt-to-Income RatioWhere to Get Unsecured Loans in the Philippines📌 Blend.ph📌 Security Bank📌 EastWest Bank📌 Asteria Lending, Inc📌 BPI📌 Maybank📌 Tala📌 UCPB📌 SB Finance📌 Radiowealth Finance Corporation📌 CitibankFinal Thoughts: Which is the Best No Collateral Loan in the Philippines? What is an Unsecured Loan? Unsecured loans are a type of personal loan issued by commercial banks and private lenders that require no collateral, meaning there’s no need to pledge a…
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Lazada Loan: What Online Shoppers Need to Know
- By Ricky Publico
- August 24, 2021
Online shopping has never been this essential lately, and it’s safe to say that Lazada provided a convenient platform for Filipinos to shop for their needs. Another great deal of help the e-commerce site is providing is its newest Lazada Loans feature, where shoppers can apply for a short-term loan for Lazada purchases. Here’s a Lazada Loan guide to help you understand further. Table of ContentsWhat are Lazada Loans?What are the Benefits of Lazada Loans?1. Easy Application2. Low Interest Rate3. Fast Approval4. Accredited Lenders5. Flexible Installment PlanWhat are the Disadvantages of Lazada Loans?1. You May Earn Unnecessary Debts2. There are Other Fees to Cover3. It May Affect the Way You Deal with Other LoansLazada Loan RequirementsHow to Activate Your Lazada WalletHow to Apply for a Lazada LoanLazada Loan Partners in the PhilippinesBilleaseTendopayUnaPayPaylaterCashaloInvestEdLazada Loan FAQs1. Where will I get the cash?2. Do Lazada Wallet credits expire?3. How can I repay my Lazada Loan?4. My application is denied. Can I apply for a Lazada Loan with another lender?5. Can I use GCredit as a payment option?Final ThoughtsCompare Other Personal Loan Options What are Lazada Loans? Launched in 2019 during the Lazada 9.9 Sale that year,[1] Lazada Loans provide shoppers with an alternative way to pay for their online shopping, may it be for gadgets or grocery items. Lazada partnered with accredited mobile lenders to make this feature possible. A Lazada Loan allows shoppers to buy now and pay later with easy installment plans minus the credit card requirement. You can apply for a loan directly through the Lazada website or app and…
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Do You Have Bad Credit? What to Know When Applying for a Loan
- By Venus Zoleta
- August 20, 2021
“Can I get a personal loan for bad credit history?” It takes time to repair a bad credit report (or to build one if you have none), so you’re wondering if you can qualify for a loan now even if yours is in a terrible shape. Well, your choices are rather limited. Generally, banks and government agencies deny loan applications from borrowers with a poor credit score. So these lenders are already out of the question. Other types of lenders in the Philippines, however, do accept and approve loans for people with bad credit history. So yes, you can borrow money for any financial emergency even with a less-than-ideal credit record. But once you get approved for a bad credit loan, managing it isn’t as easy as you think. Here’s everything you need to know about bad credit loans in the Philippines. Table of ContentsWhat is a Bad Credit Loan?How Can I Get a Loan Even with Bad Credit?Family Members or FriendsPrivate LendersPawnshops5-6 LendersOnline LendersCar Collateral LoansWhat are the Benefits of Loans for Bad Credit in the Philippines?Credit History is Usually Not RequiredGreater Chances of Getting ApprovedQuick Turnaround TimeMoney Can be Used for Any PurposeNo Collateral RequiredHigh Borrowing LimitsHow Risky is It to Get a Loan for Bad Credit in the Philippines?Best Loans for Bad Credit in the Philippines with Guaranteed Approval📌 EasyRFC Multi-Purpose Loan📌 Tala Cash Loan📌 SB Finance Car4Cash📌 GDFI OR/CR Sangla📌 PawnHero6 Tips When You Decide to Apply for Bad Credit LoansFinal Thoughts What is a Bad Credit Loan? Simply put, a bad credit loan is just…
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Home Credit Cash Loan Application: Its Pros and Cons Plus Useful Tips
- By Moneymax
- August 17, 2021
“Is that a housing loan?” is a question you’ve probably asked after seeing the Home Credit logo. Don’t worry, it’s not something related to real estate, but it is a non-traditional type of lending in the Philippines. And chances are you’ll end up finding yourself deciding whether to apply for a loan from it or not. Read on to learn how Home Credit loans work and if they’re a suitable option for you. Table of ContentsWho is Home Credit? What is Home Credit Consumer Loan?Key Features of Home Credit Standard LoanWhat is Home Credit Cash Loan?Key Features of Home Credit Cash LoanHow to Apply for a Home Credit Cash LoanHow to Claim the Home Credit Cash Loan ProceedsWhat are the Benefits of Home Credit Loans?1. Easy Home Credit Requirements2. Quick Approval3. Flexibility4. Easy Loan Management5. Early Repayment Option6. Loan Insurance OptionWhat are the Drawbacks of Home Credit Loans?1. High Interest Rates 2. Easy Way to Earn Debt3. Rejection for Delinquent Borrowers4. Consequences of Late PaymentsHome Credit Loan FAQs1. What are the payment options for Home Credit Loans?2. How will I know if I’m qualified for a Home Credit Cash Loan?3. My Home Credit Cash Loan application was rejected. Can I apply again?4. I want to check my remaining balance/months in my account. How should I do that?Final ThoughtsCompare Other Personal Loans Who is Home Credit? Home Credit Philippines[1] started its operations in 2013 as a money-lending service. As part of Home Credit Group, a global consumer finance provider, Home Credit slowly became a popular payment option for big-ticket items like home…
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List of Top Personal Loan Purposes in the Philippines
- By Venus Zoleta
- August 12, 2021
Borrowing money is so common that it naturally blends with the Filipino way of life. Whenever you have a financial goal to fulfill, your first option is to apply for a loan or take the undying lifeline of calling a friend. Which is why “Kumusta ka na?” has somewhat become an automatic prelude to “Pautang naman,” with the person receiving the message being torn between lending you money and simply ignoring your message. The act of borrowing money has earned a bad reputation among Filipinos that it’s often the last option of people who really need money. The lack of good loan purposes, which lead to unpleasant utang habits, also doesn’t help. But money plays a crucial role in our lives. Unexpected events, such as hospitalization, can result in paying an amount that you probably don’t have. So before applying for a loan, make sure your loan purposes are reasonable, practical, necessary, and urgent to prevent you from getting into bad debts. Here are some of the best reasons to get a personal loan that can positively impact your family and your well-being. Table of ContentsHow Important are Loan Purposes?List of Loan Purposes: 17 Best Reasons for Loan Application1. Education2. Medical Emergencies3. Appliances / Electronic Gadget4. Home Improvement / Repair5. Business6. Travel / Vacation7. Vehicle Purchase8. Wedding9. Emergency Fund10. Balance Transfer / Debt Consolidation11. Settling Unpaid Utility Bills12. Moving Costs14. Pregnancy 15. Making Ends Meet16. Funeral Expenses17. Personal MilestonesFinal ThoughtsWhere to Apply for a Personal Loan How Important are Loan Purposes? Before getting a personal loan, your loan purposes should be…
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Tala Loan Application Guide: Everything About Borrowing from Tala Philippines
- By Venus Zoleta
- August 11, 2021
What’s the quickest and safest way to borrow money if you don’t have any supporting financial documents? If you’re having difficulty getting approved for a bank loan, know that there are alternatives you can turn to, like quick cash loans from private lenders. One of the alternative loans to consider is Tala cash loan from Tala Philippines. Read on to learn more about this lending company and the loan it offers. Table of ContentsWhat is Tala Philippines?How Much Can I Borrow From Tala?What are Tala Philippines Loan Interest Rates and Terms?Should I Borrow from Tala Philippines?Where Can I Use My Tala Loan?Tala Loan RequirementsHow to Apply for a Tala LoanTala Loan Application ProcedureHow Long Does Tala Take to Process a Loan?How Do I Receive My Tala Loan?How to Claim Your Tala Loan at Palawan Express and Other Remittance CentersHow to Pay Tala LoanWhere to Pay My Tala LoanAnti-Fraud Reminders From Tala Philippines1. Keep Your Personal Information Safe2. Beware of Fake Tala Pages3. Pay Only Through Official ChannelsFinal Thoughts What is Tala Philippines? Tala is one of the top quick cash loan providers in the Philippines. It’s a legitimate online lender that’s registered with the Securities and Exchange Commission.[1] Based in Santa Monica, California, this fintech company also operates in Mexico, Kenya, and India. Tala Philippines provides instant loans through a mobile app where the entire process happens, from loan application to funds release and status tracking. It allows Filipinos with an Android device to conveniently get a cash loan anytime and anywhere regardless of their credit history. Read more: 5…
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What is a Fast Cash Loan and Where to Apply for One?
- By Moneymax
- August 10, 2021
Emergencies do happen. Sudden hospitalization of a loved one, unexpected school expenses of your kid, job loss, and even unforeseen car repairs will catch you off guard. But if you’re lucky enough to have an emergency fund, chances are you’ll be able to get past these financial snags. Not all of us, however, have a robust and steady reserve of money on standby. There may come an occasion where your emergency fund will not suffice. In which case, the only option that you have is to turn to a fast cash loan provider. If this is your first time navigating this side of finances, don’t worry—we got you covered. We’ve pulled together a comprehensive guide that will teach you the basics of fast cash loans in the Philippines. We’ve also included a list of reliable lenders that you may want to consider. Table of ContentsWhat is a Fast Cash Loan?Is a Fast Cash Loan Legit?How Do Fast Cash Loan Applications Work?Where Can I Borrow Money Fast in the Philippines?✔️ Citi Personal Loan✔️ EasyRFC Multi-Purpose Loan✔️ Tala Cash Loan✔️ SB Finance Personal Loan✔️ BPI Personal LoanHow to Qualify for a Fast Cash LoanFast Cash Loan RequirementsSome Reminders Before Applying for a Fast Cash Loan1. Compare Your Options2. Borrow Only What You Can Pay3. Check the Fees That Come with the Loan4. Check Your Credit ScoreFinal ThoughtsFind the Best Loan for You Today What is a Fast Cash Loan? Fast cash loans are salary loans and personal loans that can be approved in as fast as 10 minutes to just a few…
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Your Easy Guide to BPI Personal Loan Application
- By Moneymax
- August 6, 2021
Financial snags happen from time to time: you borrowed from a friend, used a portion of your emergency fund, or even pawned some of your jewelry pieces. Nevertheless, past experiences assure you that you’ll get past these hitches. However, the pandemic has tested everyone’s financial readiness and tolerance to risks and uncertainties. Maybe you’ve lost your job, or one of your family members has been battling a health condition. And what’s putting you on edge is the fact that your resources have been exhausted and you need help. In these situations, the bank may be the best place to visit as it offers personal loans. As such, one of the best and most reliable banks to visit is the Bank of the Philippine Islands. Its loan products have some of the lowest interest rates in the market, and it usually offers reduced rate promos that you may avail. Here’s what you need to know about the BPI Personal Loan. We’ve also come up with a BPI Personal Loan application guide in case you want to apply. Table of ContentsWhat is BPI Personal Loan?What Can I Use a BPI Personal Loan For?1. Your Child’s Education2. Home Renovation3. Dream Vacation4. Memorable Occasions5. Other Emergency ExpensesWhy Should I Get a BPI Personal Loan?BPI Personal Loan Key FeaturesWhat Are the Requirements for BPI Personal Loan Application?Eligibility RequirementsRequired Documents for BPI Personal Loan ApplicationHow Will I Know If I’m Ready to Apply for a BPI Personal Loan?How to Apply for a BPI Personal LoanOnline BPI Personal Loan Application StepsBPI Personal Loan Application via Sales Agent…
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Beware of Loan Sharks: How to Protect Yourself Against Illegal Lending Practices in the Philippines
- By Venus Zoleta
- August 4, 2021
From 2017 to 2019, informal borrowing in the Philippines had grown significantly by 10%, while formal borrowing increased by 4%, according to the Bangko Sentral ng Pilipinas (BSP) Financial Inclusion survey.[1] The same survey revealed that overall, the incidence of borrowing among Filipinos increased, but mostly from family, friends, and informal lenders. Almost half of the Filipino adults were unable to meet regular spending needs before the pandemic. Amid the lockdown, it’s expected that many will fall victim to illegal lending schemes. Sangla ATM or ATM loans and 5-6 are two popular forms of informal or illegal lending practices in the Philippines. In times of financial emergencies, borrowers apply for a quick cash loan with ATM cards as collateral. On the other hand, a few unemployed borrowers still endure the hefty 20% interest rate from loan sharks that often resort to harassment[2] to collect the payment from defaulting borrowers. With the pandemic forcing the government to implement lockdowns and restrictions, more Filipinos who can’t pay off their debts raise the question: how to fight loan shark harassment in the Philippines? Table of ContentsWhat is a Loan Shark?What are the Illegal Lending Practices in the Philippines?1. Excessively High Interest Rates2. Requiring an ATM Card or ID as Collateral3. No Formal Loan Contract4. No Record of Repayments5. Unfair Debt Collection PracticesHow to Fight Loan Shark Harassment in the PhilippinesRecord Your TransactionsSecure ProofReport the Loan Shark to Appropriate AuthoritiesHow to Avoid Loan SharksFinal ThoughtsCompare Legit Loan Options in the Philippines What is a Loan Shark? A loan shark is an unlicensed lender that…
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5 Convenient Ways to Borrow Money for an Emergency
- By Venus Zoleta
- August 3, 2021
“Utang” is so strongly embedded in the Filipino culture that 41% of adults have outstanding or previous loans, according to the latest Bangko Sentral ng Pilipinas (BSP) financial inclusion survey.[1] There are many options for pautang in the Philippines, the most common of which are emergency loans and personal loans. These pautangan options can be very useful when you need immediate cash, especially during this pandemic when lockdowns can happen at short notice. Or during typhoon season when flooding can happen in minutes, or anytime a natural disaster strikes. However, it’s important to understand both the benefits and risks of each loan option before choosing the right one for your immediate need. Here are just some of them. Table of ContentsPautang in the Philippines: 5 Ways to Borrow Money for an Emergency1. Emergency Loans2. Personal Loans3. Salary Loans4. Pawning or Sangla5. Pautang from Family and FriendsFinal Thoughts Pautang in the Philippines: 5 Ways to Borrow Money for an Emergency 1. Emergency Loans What’s an Emergency Loan? An emergency loan is an unsecured personal loan that you can borrow to cover the costs of unexpected expenses.[2] It’s a quick and easy way for cash-strapped Filipinos to fund unplanned expenses. And it’s particularly helpful when you need money to rebuild your home or repair your car after a flooding, fire, earthquake, or any disaster. Most emergency loans in the Philippines come from three sources: private lenders, government agencies, and employers. Emergency Loans from Private Lenders Of the three common emergency loan providers in the country, private lenders have the simplest application process,…
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Everything You Must Know About Getting a Citi Personal Loan
- By Venus Zoleta
- July 28, 2021
Citibank is primarily known for its credit cards that complement a wide range of lifestyles and needs. But did you know that Citibank also has a good loan product that’s worth checking out? Such is the Citi Personal Loan. It has a lot of exciting features and unique selling points that make it a better choice over other loan products in the market. Interested? We’ve pulled together a comprehensive guide for you, from this loan’s uses to interest rates. We’ve also included a quick Citibank personal loan application guide in case you decide to avail of this product. Table of Contents✔️ What is a Citi Personal Loan?✔️ What Can I Use the Citibank Personal Loan For?Business ExpansionHome RenovationPersonal GrowthKids’ EducationDebt ConsolidationWeddingEmergencies and Unexpected Problems✔️ Why Should You Apply for a Citi Personal Loan?Fast Loan ApprovalHigh Loan AmountFlexible Loan TermsLow Citi Personal Loan Interest Rate✔️ How Do I Qualify for a Citibank Personal Loan?✔️ How Do I Know If I’m Financially Fit for the Citi Personal Loan?How to Use the Citi Online Loan Calculator✔️ What are the Required Documents for a Citibank Personal Loan Application? Citi Personal Loan Requirements for FilipinosCiti Personal Loan Requirements for Foreigners✔️ What are the Steps for the Citibank Personal Loan Application?How to Apply for Citi Personal Loan Online✔️ FAQs on Citibank Personal Loan Application and Payment1. The Citi Personal Loan Online Application system is not working. What should I do?2. How can I improve my chances for Citibank’s 24-hour approval?3. How can I check my Citi personal loan application status?4. How will I receive my loan proceeds?5….
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Online Loans in the Philippines: What Filipinos Need to Know
- By Venus Zoleta
- July 22, 2021
In these trying times, the need to borrow money is understandable, especially if your finances have been badly affected by the pandemic. A lot of Filipinos may have applied for personal loans but just can’t meet the loan requirements. Because of this, they explore legit online loan apps in the Philippines to fund their urgent cash needs. Legit online lenders offer borrowers a good alternative to traditional loans from banks. They fill in the gaps in terms of convenience, application requirements, and ease of approval. Most legit online lenders even release the loan proceeds within 24 hours. But are online loans the right choice? Before you borrow money online, familiarize yourself with how these loans work and what your options are for legit online loan apps in the Philippines. Table of ContentsWhat is an Online Loan?Pros and Cons of Online LoansOnline Loan AdvantagesOnline Loan DisadvantagesWhy Should You Borrow Only from Legit Online Lenders?What are the Legit Online Loans in the Philippines? ACOM Quick Cash LoansAsialink Finance CorporationAtome Credit Cash LoanCash Mart Personal LoanEsquire Financing Business LoanFirst Circle Business LoanGDFI Fast Cash LoansHome Credit Cash LoanLoan Ranger Cash LoanOnline Loans Pilipinas Cash LoanRadiowealth Finance LoansTala LoanVidalia Online LoansWhat to Do When You’re Scammed by an Illegal Online LenderFinal ThoughtsFind the Best Online Loan That Fits Your Needs What is an Online Loan? An online loan is a non-traditional type of loan from a private lender that operates over the internet. Online lenders cannot operate without a physical office address, but they generally process applications through their app or website. Almost 80% or…
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Business Loans for Startups in the Philippines
- By Venus Zoleta
- July 12, 2021
Finding good sources of funding is a critical step in starting a business. A small business loan from the government, a bank, or a private lender is one financing option for budding business owners. A business loan in the Philippines comes in a variety of types that suit different business requirements. Before you start searching for the right startup business loan, it helps to have an idea of the types of business loans for starters. Doing so helps you understand your options better and easily find the loan that matches your needs. Below are the basic business loan requirements in the Philippines and the different types of loans for every business. Table of ContentsWhat is a Business Loan?What is the Difference Between Business Loan, Consumer Loan, and Personal Loan?How Do I Qualify for a Business Loan in the Philippines?Basic Requirements When Applying for a Business LoanWhat are the Four Types of Business Loans in the Philippines?1. Term Loans2. Credit Line3. Secured Business Loans4. Unsecured Business Loans 7 Considerations When Choosing a Business Loan in the Philippines1. Your Purpose for Borrowing Money2. Loan Amount3. Method of Funding4. Loan Term5. Repayment Mode6. Collateral7. Interest RateFinal ThoughtsCompare Other Loan Options What is a Business Loan? Startups need funding or capital to begin their operations and start earning a profit. Banks and financial institutions lend this money in advance to these businesses through a business loan. In turn, lenders collect payments with interests based on the agreed-upon payment schedule and lending agreement. What is the Difference Between Business Loan, Consumer Loan, and Personal Loan? The purpose of a…
