All Articles With Category : Loans

The latest and the best financial news, tips and tricks.

RFC Loan Guide: How to Get an Online Loan from Radiowealth Finance

Sometimes, cash-strapped people tend to borrow money from the first lender they come across. It’s understandable if the borrower is dealing with an emergency. But if you have some leeway, you’ve got to take the time to shortlist quality and reputable loan companies. In case you’re in this process, make sure that Radiowealth Finance Company (RFC) is part of your list. RFC is one of the most reputable and longstanding loan institutions in the Philippines. Founded in 1935, the company has gone a long way from being the pioneer of appliance financing to becoming a lending institution that offers a wide range of loan products in the Philippines. Here’s everything you need to know about this online loan, so you know if it’s perfect for you. We’ve also included a quick RFC loan application guide should you decide it’s the best loan for your needs. Table of ContentsWhat is an RFC Loan?Why Should I Apply for an RFC Loan?1. Wide Range of Loans2. Easy Application Process3. Established CompanyWhat Types of Loans Can I Get from RFC?1. RFC Financing Loans2. RFC Multi-Purpose Loans3. RFC Business LoansWhat is the RFC Loan Interest Rate?How to Apply for an RFC LoanRFC Loan RequirementsRFC Loan Application StepsRFC Loan FAQs1. How will I know if my RFC loan application is approved?2. Will I have to pay an application fee?3. How will I repay my loan?4. I’m planning to renew my loan. What should I do?Final Thoughts What is an RFC Loan? An RFC loan is an online loan from the Radiowealth Finance Company (RFC)[1] that gives…

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Your Guide to Applying for a Motorcycle Loan in the Philippines

For many Filipinos, a motorcycle is an ideal mode of transportation. It’s significantly more affordable than cars, much easier to maintain, and it can navigate even the trickiest traffic jams. More importantly, it can also be a source of livelihood; a lot of motorcycle owners double as couriers or food delivery riders. Just this year, the production of motorcycles and scooters has gone up by 62%, from 209,670 units last year to 339,395 units this 2021.[1] This only shows how highly dependent on motorcycles Filipinos are. Are you planning to buy a motorcycle soon? If you haven’t saved enough or just don’t want to scoop some money from your bank account, consider getting a motorcycle loan. If this is your first time applying for such a loan, here’s a comprehensive guide to help you out. Table of ContentsWhat is a Motorcycle Loan?Why Should You Get a Motorcycle Loan?1. The Application Process is Usually Quick and Effortless2. You Won’t Have to Touch Your Savings or Emergency Fund3. You May Get a Low Interest Rate  Where to Get a Motorcycle Loan in the PhilippinesBPISecurity BankAUBRobinsons BankCity Savings BankSumisho Motor Finance CorporationWhat are the Requirements for a Motorcycle Loan?How to Apply for a Motorcycle Loan1. Know If You’re Eligible2. Collate and Double-Check Your Requirements3. File Your Application4. Wait for the ApprovalAdditional Tips When Applying for a Motorcycle Loan1. Pay the Down Payment Using Your Own Money2. Compare Your Options3. Ask Questions4. Ask Your Family and Friends For RecommendationsFinal Thoughts What is a Motorcycle Loan? A motorcycle loan is a type of loan that helps…

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Study Now, Pay Later: How to Get a Student Loan in the Philippines

About 44,000 college students[1] were expected to have stopped schooling in 2020 amid the pandemic. Most of those who might not have enrolled last year said this was due to the economic crisis since most parents have lost their jobs. This year, there’s no reason for you to be left behind because you have alternatives to explore for funding your college education. Now more than ever, student loans in the Philippines can help financially challenged families. Undergraduate students who may have been declined scholarships and grants can seek refuge from student loans to pay for tuition, gadgets, school equipment, and other costs of homeschooling like internet connection. Whether you’re a student or a parent, now is the time to take advantage of an education loan in the Philippines that can help those who are eager to continue their college education despite the financial challenges of the pandemic. Table of ContentsWhat is a Student Loan?Scholarships, Grants, and Student Loans: What’s the Difference?ScholarshipsGrantsStudent LoansWhy Should I Apply for a Student Loan?1. Cheaper Than Other Types of Loans2. No Credit Score Required3. Easy Repayment Terms4. Helps You Focus on Your Studies5. Opens a Wide Range of OpportunitiesWhere Can I Apply for a Student Loan?CHED Student Loan ProgramSSS Educational Assistance Loan ProgramGSIS Education Loan and Computer Loan ProgramsPag-IBIG Multi-Purpose LoanLANDBANK I-STUDY ProgramCiti Personal LoanBPI SIP Loan for SchoolBukas Tuition Installment PlanInvestEd Student LoanHow to Apply for a Student Loan in the Philippines1. Research on Student Loan Offers2. Compare Student Loans in the Philippines3. Ask for a Sample Computation4. Prepare Your Supporting Documents5. File Your…

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Guide to Pawning Your Car Title Through Asialink OR/CR Sangla

Expenses never end, and sometimes, you may find yourself in a bind. It’s either your business requires additional funding or one of your parents needs financial assistance for their surgery. Sourcing quick cash can be difficult, especially when you’ve already exhausted your government loans and your relatives or friends are also short on money. But if you have a car, you may consider applying for a car title loan for cash. When it comes to pawning your car title, it’s best that you rely on reputable loan companies, such as Asialink Finance Corporation. Asialink’s OR/CR loan is definitely one of the best and most practical choices in the market today. Want to find out more? Check out this comprehensive guide to the Asialink OR/CR loan. Table of ContentsWhat is Asialink OR/CR Loan?What are the Advantages of Asialink OR/CR Loan?1. Your Car Stays With You2. The Loan Program Accepts Old Car Models3. It Also Accepts a Wide Variety of Vehicles4. The Loan Has Low Interest RatesWhat are the Requirements of Asialink OR/CR Loan?How Can I Apply for an Asialink OR/CR Loan?1. Loan Consultant2. Telephone3. Online4. In PersonHow Will I Know If the Loan is Approved?Are There Other Fees or Charges to Cover?Can I Renew My Loan Even If I Have an Outstanding Balance?Final Thoughts What is Asialink OR/CR Loan? The Asialink OR/CR Loan is a type of collateral loan that requires borrowers to temporarily surrender their asset in exchange for cash.[1] In this case, the collateral is the car title (also called Official Receipt/Certificate of Registration or OR/CR). If you borrow…

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How to Get Quick Cash Through GDFI Car Title Pawning Loan

These days, you have many options for access to quick cash for your urgent needs. You can apply for a salary loan, borrow from a friend, or even sell personal items you’re not using anymore. But sometimes, you’ll need a bigger amount of money. It can be to pay for your hospital bills, for unexpected expenses at home or with your business, or to help a family member with their financial problem. If you’re a car owner, you can borrow a larger amount of money when you apply for a car title loan. One good option is the Sangla OR/CR Loan from Global Dominion Financing Incorporated (GDFI). Here’s what you need to keep in mind if you plan to apply for this car title loan. Table of ContentsWhat is GDFI Sangla OR/CR Loan?What are the Benefits of GDFI Sangla OR/CR Loan?1. Quick Approval2. Hassle-Free Application Process3. Accessible GDFI Services4. Affordable GDFI Rates 5. You Get to Keep Your Car6. Customizable Loan Products7. Suitable for People with No Credit History8. Bigger Loan Amount 9. Flexible and Convenient Payment OptionsWho is Eligible for GDFI Sangla OR/CR Loan?What are the Requirements for GDFI Sangla OR/CR Loan?How to Get a GDFI Sangla OR/CR Loan1. Fill Out The Application Form2. Wait for the Call from GDFI3. Pick Up the Loan ProceedsSome Tips Before Applying for a GDFI Car Title Loan1. Know Your Current Financial Standing2. Check Your Car3. See That Your Loan Purpose is Actually UrgentFinal Thoughts What is GDFI Sangla OR/CR Loan? GDFI Sangla OR/CR Loan is an affordable secured loan designed for Filipino vehicle owners….

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Sangla in the Philippines: What You Must Know Before Pawning Valuables

At some point in your life, you might have been in an emergency or a desperate situation where you needed instant cash. Instant cash, in this context, means money that you’ll be able to pull out of somewhere without filling out mountains of application forms or getting the approval of your employer. While salary loans are fast, they’re not quick enough. So, in such cases, your best bet is a pawnshop. Filipinos have come to view pawnshops as a reliable best friend who is always ready to lend help. Proof of this is the number of people who have gone to pawnshops during the pandemic.[1] While you may already know how a pawn loan works, you may still have no idea about its breadth and scope. Treat this guide as your refresher with additional information and some tips that will help you make a sound decision should you need to apply for a pawn loan. Table of ContentsHow Does a Pawn Loan Work?Can I Sell My Item to the Pawnshop?What Can You Pawn in the Philippines?JewelryCar Title or OR/CRLand TitleLuxury ItemsGadgetsAppliancesArtworkWhat are the Advantages of a Pawn Loan?1. Instant Access to Cash2. Easy and Fast Pawning Process3. No Credit Checks4. No Effect on Credit History5. Safe Transactions with Licensed PawnshopsWhat are the Disadvantages of a Pawn Loan?1. High Pawn Loan Interest Rates2. Low Appraisal3. Risk of Losing or Damaging Pawned Item4. Risk of Getting ScammedHow Do You Pawn Something?How Long Can You Pawn Something?What Happens If You Don’t Pay Your Pawn Loan?Final Thoughts How Does a Pawn Loan Work? A…

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Best Wedding Loans in the Philippines for Your Dream Wedding

Weddings can get notoriously expensive, and the things you need to pay for can be a lot to keep up with. If you’re not careful, you could end up overspending, or worse, neck-deep in debt.  Ideally, you should have enough money saved up that can cover the cost of your entire wedding. But if you’re nowhere near your wedding savings goal and want to get married as soon as possible, don’t panic. Consider getting a loan for a wedding.  In this article, find out how to get a loan for a wedding, its pros and cons, and where you can find the best wedding loan rates.  Table of ContentsWhat is a Wedding Loan?Why Should You Consider Getting a Loan for a Wedding?You Can’t Pay for Your Wedding Suppliers UpfrontYou Want a More Structured or Flexible Repayment PlanYou Don’t Want to Borrow Money from Family Members You Don’t Want to Get Stressed on Your Big DayYou Want an Easy and Convenient Option What are the Risks of Using a Loan for a Wedding?You Can Take On Too Much Debt You May Have to Put Your Life Plans on Hold Paying Off Debts is Not the Most Romantic Way to Start Your Married LifeHow Much Should You Loan for a Wedding?What Features Should You Look for in a Wedding Loan?Low Interest Rate Loan Repayment PeriodLow Fees and ChargesBest Wedding Loans in the Philippines📌Citi Personal Loan📌EasyRFC Multi-Purpose Loan📌GDFI Personal Loan📌SB Finance Car4CashFinal Thoughts What is a Wedding Loan? A wedding loan is simply a type of personal loan for financing a wedding. You can use it to pay…

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SB Finance Car4Cash Guide: How to Get a Loan Using Your Car’s OR/CR

There will be a few instances in your life when you’ll need a great amount of cash immediately. You may be planning to renovate your home, fund your child’s education, or start a business. You may be also dealing with emergency expenses, such as a family member’s hospitalization. In such situations, you may find yourself going to a jewelry pawnshop. But such places, however, can only offer so much. If you have a car, why not get a loan using your OR/CR? When it comes to that, SB Finance Car4Cash is one of the best options that you can go for. Below are some of the important things you need to know about this car title loan and how it can help you with your situation. Table of ContentsWhat is SB Finance Car4Cash?What are the Benefits of Car4Cash?High Loanable AmountFlexible Loan TermWide Range of Accepted CarsNo Need to Surrender Your CarLow Interest RatesLow Processing FeeWhat are the Rates of SB Finance Car Title Loan?Who Should Avail of SB Finance Car4Cash?General QualificationsQualifications for Employed ApplicantsQualifications for Self-Employed ApplicantsWhat Cars are Accepted for the Car4Cash Loan?What are the SB Finance Car4Cash Requirements?General Documentary RequirementsAdditional Documentary Requirements for Employed ApplicantsAdditional Documentary Requirements for Self-Employed ApplicantsHow to Get an SB Finance Car Title Loan1. Check Your Eligibility Criteria2. Submit Your Application3. Wait for the Confirmation4. Have the Car Appraised5. Wait for the Release of CashSB Finance Car4Cash Fees and ChargesHow to Pay Back the Car4Cash LoanFinal Thoughts What is SB Finance Car4Cash? Car4Cash is an unsecured loan from SB Finance, a partnership between Security…

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OR/CR Sangla Guide: All About Car Pawning in the Philippines

These days, there are countless choices of loans and financial services that offer quick cash to those who need it. Some use their credit cards as a cash substitute while others go for salary loans. However, these options can only offer so much, and they may not be the best routes in case you need a large amount of cash. If you own a car, you may consider a car collateral loan in the Philippines. In this guide, we’ll share with you all the important things you need to know about this particular type of loan. Table of ContentsWhat is a Car Collateral Loan?How Does a Car Title Loan Work?What are the Advantages of a Car Collateral Loan?1. Get Cash Instantly2. Application Processing is Usually Fast3. Credit History is Not Required4. Your Car Doesn’t Have to be Surrendered5. Some Companies Accept Different Kinds of VehiclesWhat are the Disadvantages of Car Collateral Loan?1. You Might Need to Surrender the Car2. Interest Rates Can Be Pretty High3. There’s a Risk of Low AppraisalWhere Can I Get a Car Collateral Loan in the Philippines?SB Finance Car4CashAsialink Collateral LoansGDFI Car Collateral LoanMaybank Auto Loan RefinancingTips to Remember When Applying for a Car Collateral Loan1. Check the Lender’s Credentials2. Make Sure Your Car is in Good Condition3. Check If You Can Pay the Loan Off QuicklyFinal Thoughts What is a Car Collateral Loan? A car collateral loan, also known as OR/CR sangla or car title loan, is usually a secured loan,[1] which means that you’ll need to put something as collateral before you can borrow…

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All You Need to Know About Buy Now, Pay Later Installment Loans in the Philippines

The significance of online shopping in the Philippines[1] has been emphasized now more than ever due to the COVID-19 pandemic. To reduce their odds of getting exposed to the coronavirus, Filipinos are turning to the likes of Lazada and Shopee to shop for their needs and wants. Credit cards, online wallets, and cash on delivery (COD) are among the most preferred payment methods for online transactions. However, Buy Now, Pay Later is becoming a popular and practical option these days. If you’re using conventional payment methods, you may be wondering what Buy Now, Pay Later in the Philippines is. Here are some of the things you may want to know. Table of ContentsWhat Does Buy Now, Pay Later Mean?How Buy Now, Pay Later WorksWhat are the Advantages of Buy Now, Pay Later in the Philippines?1. Flexible Installment Plans2. 0% Interest Installments on Buy Now, Pay Later Plans3. Ability to Make Urgent Purchases4. Can be Used for Offline PurchasesWhat are the Disadvantages of BNPL Installment Solutions?1. The Urge to Make Impulse Purchases2. The Temptation to Create Multiple BNPL Accounts3. BNPL Loans with Interest Charges4. Late Payment Fees and Other Transaction FeesBuy Now, Pay Later in the Philippines: 9 Options for Online ShoppersTendoPayLazada LoansGrab PayLaterUnaPayBillEaseCashalo Shop Now and Pay LaterCLiQQ LoansShopee SPayLaterpera247How Should I Pay the Installment Loan?Final Thoughts What Does Buy Now, Pay Later Mean? Buy Now, Pay Later or BNPL is an installment loan that allows shoppers to delay the payment of any transaction or purchase done online. Through this payment option, you can buy something right away even if…

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COVID-19 Business Recovery and Continuity Guide for Filipino Entrepreneurs

Micro, small, and medium enterprises (MSMEs) are among the hardest-hit sectors during the COVID-19 pandemic. It’s literally a chain of unfortunate events, from temporary shutdowns and mass layoffs to depleting cash reserves. MSMEs that provide essential services and commodities operate as usual, even with a reduced workforce and work hours. However, MSMEs in other industries continue to be affected by the pandemic. The negative implications keep growing. Business continuity and recovery plans also keep changing.  What should Filipino entrepreneurs do to keep their businesses afloat in these difficult times? From cost-cutting measures to MSME loans in the Philippines, here are some ways to get your business back on track during and after the COVID-19 pandemic (and any crisis in the future). Table of ContentsMSME Loans and Other Ways to Save Your Business from a Pandemic1. Find Ways to Cut Costs2. Negotiate Your Debts and Payments3. Secure Funding Through MSME Loans4. Join Online Forums for SMEs5. Shift to Digital Operations6. Nurture Existing Customer Relationships7. Consider What Your Employees Need 8. Be Prepared to Make Tough Decisions 9. Connect with Fellow Filipino Entrepreneurs 10. Stay Updated with the Community Quarantine GuidelinesOther MSME Loans in the Philippines to Consider 1. Security Bank SME Business Express Loan 2. Citi Personal Loan3. Radiowealth Finance (RFC) Loan Final ThoughtsCompare Other Personal Loans MSME Loans and Other Ways to Save Your Business from a Pandemic 1. Find Ways to Cut Costs How has the pandemic affected your business? Do a financial check-up to find out the real extent of the damage. This way, you can also develop a proper recovery plan….

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Need Cash? Check These Options for Easy Loan Application in the Philippines

More often than not, getting a loan is a very meticulous process. But there are easy to apply for loans in the Philippines with easy requirements and quick loan approval processes.  If you’re currently shopping for a loan, here are some lenders in the Philippines with easy loan applications.  Table of ContentsEasy to Apply for Loans in the Philippines1. CIMB Bank Personal Loan 2. ACOM Revomax Personal Loan3. RFC Loan 4. Citi Personal Loan 5. Tala Online Cash Loan6. SB Finance Personal Loan Some Things to Consider Before Getting a Loan1. Determine the Kind of Loan You Need2. Consider Your Debt-to-Income Ratio3. Choose the Shortest Loan Term, If Possible4. Apply for a Realistic Loan Amount5. Improve Your Credit Score 6. Shop Around and Compare Fees 7. Get Your Paperwork Ready 8. Consider the Fees and Charges 9. Don’t Apply for Too Many Loans 10. Never Skip Payments Final Thoughts Easy to Apply for Loans in the Philippines Whether you’re looking for a loan with fewer requirements, a faster approval process, bigger loanable amounts, or longer repayment periods, here are some loans you can easily apply for. 1. CIMB Bank Personal Loan  Are you looking for an easy loan you can apply for online? CIMB Bank[1] offers an all-digital loan application that you can finish in minutes. Just download and log in to the CIMB Bank mobile app.  📌 Key Features Loanable amount: PHP 30,000 to PHP 1,000,000 Interest rate: 1.12% to 1.95% per month Loan tenure: 12 to 60 months Processing time: 10 minutes via the CIMB Bank mobile app  🧑 Who Can Apply for a CIMB Loan? 21 years…

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9 Salary Loans to Consider for Financial Emergencies

Salary loans—with their quick online application, guaranteed approval with no credit checking, and fast cash loan disbursement—can help cash-strapped Filipinos meet their urgent financial needs. More so when it’s Petsa de Peligro and there’s an emergency, like sudden hospitalization in the family or overdue bills. Before you shop around for options, make sure you’re well-informed about salary loans in the Philippines. Keep reading to know what these loans are and which ones you may consider for financial emergencies. Table of ContentsWhat is a Salary Loan?Salary Loans in the Philippines to Consider for Financial Emergencies1. SSS Salary Loan2. Tala Loan3. Security Bank Salary Advance Loan4. Vidalia Salary Loan5. Cash Mart Salary Loan6. Citi Salary Loan7. Maybank Salary Loan8. Sterling Bank of Asia Avance Salary Loan9. UCPB YES LoanWhat are the Alternatives to Salary Loans in the Philippines?Final ThoughtsNeed to Borrow Money? Check Out Your Loan Options at Moneymax! What is a Salary Loan? A salary loan is a type of loan borrowers can get to make ends meet or finance an important expense (e.g., tuition, medical bills, and other emergency purposes) before receiving their next paycheck. Salary loans, whose amounts are usually based on the borrower’s gross monthly salary, are expected to be paid off over a fixed period. Also called online loans or quick cash loans, salary loans are easier and faster to get than traditional loans. Simply apply and submit a few requirements online, and receive the money within 24 hours. Unlike pawnshop loans that require collateral such as jewelry and gadgets, salary loans don’t require any collateral. Rather,…

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What You Need to Know About Peer to Peer Lending in the Philippines

Peer to peer lending in the Philippines may be unfamiliar to many Filipinos. But it can be a good option for those who have a bit of money to invest or those who need a loan without going to traditional banks.  In this article, we’ll discuss what peer to peer lending is, how it works, and its pros and cons.  Table of ContentsWhat is Peer to Peer Lending? How Does Peer to Peer Lending Work? For P2P BorrowersFor P2P LendersThe Rewards of Peer to Peer Lending in the Philippines1. Higher Rates of Return2. Option to Build or Diversify Portfolio 3. Additional Passive Income Stream4. Affordable Investment Option 5. Fast and Convenient Way to Get a Loan6. No Hard Credit Checks7. No Collateral RequiredThe Risks of Peer to Peer Lending in the Philippines1. Borrowers with Bad Credit and Higher Default Risk2. Not a Liquid Investment 3. Possible Loss of Investment During Economic Downturns Peer to Peer Lending Companies in the Philippines 1. Vidalia Lending2. Kiva Philippines3. Acudeen4. Blend.PH5. SeedInFAQs on Peer to Peer Lending in the Philippines1. Is peer to peer lending safe?2. Is P2P lending a good investment? 3. Can you make money with peer to peer lending? 4. I’ve read mixed FundKo reviews online. Is it a P2P lender?Final Thoughts  What is Peer to Peer Lending?  Peer to peer lending, also known as P2P or crowd lending, is a money lending platform for both individuals and businesses without a financial institution acting as a middleman.  It’s an online service that matches borrowers with lenders that offer their services, most of which are unsecured loans. As a result, lenders or investors earn…

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OFW Loan Options in the Philippines for Every Kind of Need

Looking to increase your savings as an OFW by starting a small business? Want to build a home or buy a car for your family? Need to borrow money immediately for a medical emergency? No matter what your financial needs are, an OFW loan assistance can help you achieve them. Fortunately, the government and some financial institutions offer loans and financial assistance programs for OFWs like you. Let’s make choosing the best OFW loans in the Philippines easier for you. We’ve listed five of them, and we also have a quick guide so that you’ll understand how OFW loans work. Table of ContentsWhat is an OFW Loan?Where to Apply for an OFW Loan in the PhilippinesOWWA Loan for Starting a BusinessSSS Salary Loan for Different Cash NeedsPNB Global Filipino Auto Loan for Buying a CarOFW Loans for Buying a HomeHow to Apply for an OFW LoanCompare Other Loan OptionsFinal Thoughts What is an OFW Loan? OFW loans are programs that allow overseas workers to borrow money, which they can use for different purposes. Some loans have special terms and conditions that are suitable for the financial capacity of the borrower, such as low interest rates or a higher loan amount. OFW loans are generally categorized into the following groups: personal loan, car loan, home loan, and business loan. However, the purposes of these loans may overlap with each other. As such, we advise that you ask your lender about the acceptable applications of your loan. Where to Apply for an OFW Loan in the Philippines OWWA Loan for Starting a Business Are you…

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Getting a Car Loan in the Philippines? Here’s What You Need to Know

For many millennials, buying a car is something to cross off their bucket list. Having that first set of wheels means you’re on the right track to becoming a full-fledged adult. But you need money—lots of it—for your biggest investment ever. As a young professional, you aren’t making enough money to drive your dream car out of the showroom and into your garage. The cheapest sedan in the market today costs over half a million pesos. Even if you have that amount in the bank, you won’t dare spend it all on a whim. Because yes, you’re a responsible adult who’s got bills to pay and maybe even mouths to feed. Good thing, you can avail of a personal loan that can help you make monthly payments for a car instead of a one-time payment of the unit’s full price. It’s easier to manage your finances that way. Table of ContentsHow Car Loan Works in the PhilippinesIs Getting a Car Loan a Good Idea?Who Becomes the Owner of the Car Acquired Through a Loan?What are the Types of Car Loans in the Philippines?Can I Buy a Second Hand Car with a Car Loan?Where to Get a Car LoanHow to Apply for a Car Loan in the PhilippinesStep 1: Check if You’re Qualified for an Auto LoanStep 2: Compute How Much You Can BorrowStep 3: Compare Car LoansStep 4: Complete the Car Loan RequirementsStep 5: Submit Your Car Loan ApplicationStep 6: Wait for Your Car Loan Approval and ReleaseMy Car Loan Application Was Rejected. What Now?1. Check Your Requirements Again2. Fix Your…

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What You Need to Know About Short Term Loans in the Philippines

No matter how much you take care of your finances, there will always be unforeseen circumstances where you’ll be short on cash. When this happens, a short term loan can save the day. What is a short term loan in the Philippines, and what are its pros and cons? Read on to find out more. Table of ContentsWhat is a Short Term Loan?What Short Term Loans are Available in the Philippines? Payday Loan Line of CreditOnline LoanInvoice Financing Merchant Cash Advance What are the Best Short Term Loans in the Philippines?5 Tips on How to Get a Short Term Loan1. Shop Around for the Best Short Term Loan Provider2. Prepare the Required Documents 3. Fill Out the Loan Application Form4. Wait for Your Loan Approval 5. Understand the Terms and Conditions Final Thoughts Apply for a Loan for Free! What is a Short Term Loan? Short term loans offer smaller loanable amounts and shorter repayment terms than long-term loans. You need to fully pay off a short term loan in less than a year. It also comes with a higher annual percentage rate.[1] Most Filipinos apply for a short term loan to pay for minor expenses and financial obligations. For business owners, a short term loan can help with financing their business needs to keep it running.   The repayment period for a short term loan Philippines can be adjusted according to the borrower’s preference. But they’re usually paid off in a month. If the chosen loan term is longer than a month, it should not exceed 12 months.  Short term loans are unsecured loans, which means they don’t require…

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BPI Housing Loan Application Guide for New Borrowers

For many of us, buying a home is a milestone. Primarily, this is because a real estate property is a major purchase you would probably need to work for. Secondly, just fulfilling all the requirements and going through the loan process are already accomplishments. If you’re planning to buy a home (whether it’s your first time or not), looking for a financing company is a top priority. You will need to look for one that is not just reliable but also flexible. In this regard, the Bank of the Philippine Islands (BPI) definitely fits the bill, as they offer the BPI Housing Loan, one of the most competitive loans in the market. Let this guide give you a walkthrough on the important things about this home loan. Table of ContentsBPI Housing Loan: An OverviewAm I eligible for a BPI Housing Loan?How much is the BPI Housing Loan amount?What are the loan terms?BPI Housing Loan Interest RatesBPI Housing Loan Fees and Other ChargesBPI Housing Loan RequirementsBPI Home Loan Basic Requirements:BPI Housing Loan Additional Requirements for OFWsBPI Housing Loan Additional Requirements for Self-Employed ApplicantsProperty Equity Loan RequirementsBPI Housing Loan Additional Requirements for Self-Employed ApplicantsIs this really the right loan for me?Compare Loans for Free at Moneymax!How to get my BPI Housing Loan application approved?Final Thoughts BPI Housing Loan: An Overview The bank describes the BPI Housing Loan (or BPI Family Housing Loan) as an ideal loan option for earners who have conservative buying patterns. This is mainly because their package can be customized based on the needs and spending power of the…

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Calamity Loan from SSS and Pag-IBIG: How You Can Avail

After a devastating storm, flood, earthquake, or any natural disaster, the tendency is to get everything back to normal as soon as possible. But depending on the damage sustained to your property, this could be a very expensive endeavor. Repairing your leaky ceiling or flooded car will cost a lot of money. Sometimes even more than what your income can cover. This is where a calamity loan from SSS and Pag-IBIG can help. What is the SSS and Pag-IBIG calamity loans? It’s a special type of loan granted only to members in areas declared under the State of Calamity. For this loan, you can apply within 90 days from the State of Calamity declaration in your area. Table of ContentsSSS Calamity Loan at a GlanceSSS Calamity Loan EligibilitySSS Calamity Loan RequirementsCan I Apply for SSS Calamity Loan Online?Where Can I Make My SSS Calamity Loan PaymentPag-IBIG Calamity Loan at a GlancePag-IBIG Calamity Loan EligibilityPag-IBIG Calamity Loan RequirementsHow to Apply for a Pag-IBIG Calamity Loan Online How Much Can You Borrow from Pag-IBIG?Other Ways to Borrow Money After a CalamityFinal Thoughts SSS Calamity Loan at a Glance Amount: One monthly salary credit (MSC) up to PHP 20,000 or the total amount of damage, whichever is lower Interest rate: 10% per annum Repayment period: 27 months (instead of the regular 24 months, with a 3-month moratorium period). Monthly amortization starts on the fourth month after loan approval. Others: Waived service fee SSS Calamity Loan Eligibility This SSS loan is open to any SSS member who meets these criteria: Paid at least 36…

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Smart Tips to Get Approved for a Business Loan

In business, there comes a point when getting external funding becomes a necessity. It may be for growth and expansion or simply to push through during tough times. Regardless of the reason, it is undeniable that getting a business loan approved is a great option when looking to acquire extra cash for your company. The thing is, not all applications merit guaranteed approval. Your company’s financial standing and credit score, among others, can easily influence how lenders assess your loan request. This is why it is important to come fully prepared. Read on further to discover key requirements and tips to help get your business loan approved. Table of ContentsCommon Business Loan RequirementsCriteria to Get Your Business Loan Approved1. Credit History2. Cash Flow3. CharacterNext StepsTips to Get Your Business Loan Approved1. Create a Strong Financial Plan2. Maintain a Good Personal Credit Score3. Show Positive CharacterFinal Thoughts Common Business Loan Requirements Although this may vary depending on the lender and purpose, the following are the most common business loan requirements: Two (2) valid IDs Marriage contract (if applicable) Photocopy of audited financial statements for the last 3 years Income Tax Returns (ITRs) for the last 3 years Bank statements or photocopy of passbook for the last 6 months Company Profile For sole proprietorships: – Certificate of Business Registration from DTI For partnerships: – Certificate of Registration from SEC – Articles of Partnership For corporations: – Certificate of Registration from SEC – Latest amended Articles of Incorporation and By-Laws – List of elected officers – Board Resolution or Secretary’s Certificate You should…

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