Tonik Loan Application: Complete Guide for Beginners

Tonik is the first institution in the Philippines to secure a digital bank license from the Bangko Sentral ng Pilipinas (BSP). This digital bank aims to transform the way people manage their finances not just in the Philippines but across Southeast Asia as a whole.

Tonik specifically targets a whopping 44% of Filipinos who remain unbanked. It’s ushering in a new digital era in banking by giving people more accessible options with just a few clicks. Filipinos are avid internet and social media users, so Tonik leverages technology to revolutionize the way Filipinos handle money.

This digital bank offers various financial products and solutions like deposits, savings, and loans, among others. If you need to pay for big-ticket items upfront or fulfill a major life goal, you can try going for a hassle-free Tonik loan application. Learn more about Tonik loans below.

What is a Tonik Loan?

Tonik offers three types of non-collateral cash online loans, namely the Quick Loan, Shop Installment Loan, and Flex Loan. Recently, Tonik launched the Big Loan—its fully digital secured loan—that requires a title of a condominium in Metro Manila as collateral.

These loans are all 100% digital and accessible through the Tonik mobile app, which you can download from the App Store or Google Play Store.

Depending on the loan type, you can take out a loan amount ranging from ₱5,000 to ₱2.5 million and choose to pay between three and 60 months through a flexible payment scheme.

What Can I Use a Tonik Loan for?

You can use your Tonik loan any way you want:

Big Loan - For setting up a small business, improving your home, or consolidating debt
Flex Loan - For funding home improvements, appliances, and other big-ticket items
Quick Loan - Good for debt consolidation, business expansion, home renovation, travel, education, and emergencies
Shop Installment Loan - Ideal for purchasing appliances such as air conditioners, TVs, refrigerators, laptops, ovens, and washing machines.

What are the Features and Benefits of a Tonik Loan?

With Tonik's loans, you can enjoy a fully digital experience and flexible payment terms. Plus, you don't need to have a credit history.

However, the features and benefits of a Tonik loan vary per type of loan:

Tonik Big Loan Features and Benefits

Need to fund a home renovation or a small business? The Tonik Big Loan might be the perfect option for you, especially if you're a condo owner in Metro Manila:

☑️ Fast Approval Process

Get pre-approved in as fast as 30 minutes—just wait for the loan amount to be disbursed to your account in around seven business days.

☑️ High Loan Amount

With Tonik's Big Loan, you can borrow from ₱250,000 up to ₱5 million.

☑️ Fixed Interest Rates

Take note of the fixed 0.5825% monthly contractual rate or 6.99% annual percentage rate.

☑️ Flexible Installment Plan

Pay in 12, 24, 36, 48, or 60 monthly installments.

☑️ Condo Title as Collateral

You'll need to submit your Metro Manila condo title as collateral.

☑️ Co-Borrower Option

If you want a bigger loan amount, apply with your spouse as a co-borrower.

Tonik Flex Loan Features and Benefits

If you're looking for an unsecured loan to help make your dreams a reality, check out the Tonik Flex Loan:

☑️ Fast Approval Process

Tonik can approve your Flex Loan application in just one day.

☑️ Flexible Loan Amounts

You can borrow any amount from ₱20,000 to ₱250,000.

☑️ One of the Lowest Interest Rates in the Market

Its fixed monthly interest rate starts at only 1.71%, one of the lowest rates in the Philippines.

☑️ Flexible Installment Plan

Choose to pay in six, nine, 12, 18, or 24 monthly installments.

☑️ Minimal Documents Required

You also don't need to submit collateral. You just need to create a Tonik savings account and submit a valid ID, a TIN ID, an ATM card, your latest bank statement, and proof of income.

Tonik Quick Loan Features and Benefits

The Tonik Quick Loan^[1] is a competitive choice for borrowers, as it offers the following features:

☑️ Fast Approval Process

Tonik's loan approval time is one of the best in the market. Your loan can get approved in as fast as 30 minutes.

☑️ Flexible Loan Amount

You can borrow as low as ₱5,000 and as much as ₱50,000.

☑️ Fixed Monthly Interest Rate

The interest rate for this Tonik loan is fixed starting at 4.26%, so you already know how much you'll pay each month.

☑️ Flexible Installment Plan

Choose between six, nine, 12, 18, and 24 months for your Tonik loan payment time scheme.

☑️ Minimal Documents Required

For Tonik Bank loan requirements, you just need to create a Tonik savings account and submit a valid ID and a TIN ID.

Tonik Shop Installment Loan Features and Benefits

tonik loan application - shop installment features

Eyeing that swanky new TV or that laptop with upgraded specs? Get them with the Tonik Shop Installment Loan:^[2]

☑️ Fast Approval Process

Your loan can get approved in as fast as 30 minutes. Just check the status of your loan application on the Tonik app.

☑️ Flexible Loan Amount

You can borrow as low as ₱5,000 and as much as ₱100,000.

☑️ Flexible Installment Plan

You can choose between three, six, nine, 12, 18, and 24 months for your loan payment time scheme.

☑️ Fixed Monthly Interest Rate

The interest rate is fixed at 4.5%, regardless of your loan term.

☑️ Minimal Documents Required

You just need at least 10% of your total amount as a downpayment, a valid ID, a TIN ID, and a Tonik savings account.

Apply for a personal loan through Moneymax

Who is Eligible for a Tonik Loan Application?

The Tonik Bank loan approval process starts with a pre-qualification questionnaire, which you can answer from the website. Your eligibility hinges on the following criteria:

Filipino citizen
Residing in the Philippines
23 to 58 years old
Presently employed
With a valid government-issued ID and TIN ID
For Shop Installment Loan: With sufficient funds for the downpayment
For Flex Loan: With a bank account with another bank
For Big Loan: With a condominium unit in Metro Manila with a clean title

Here are the accepted valid government-issued IDs:^[3]

Philippine passport
Philippine driver’s license
Unified Multipurpose ID (UMID)
Social Security System (SSS) ID
Professional Regulation Commission Identification Card (PRC ID)
Postal ID (card type)
Phil ID (National ID or PhilSys ID)
Digitized PhilHealth ID (plastic PVC card)
Voter's ID with two QR codes

If you meet all of the qualifications, you can download the Tonik app, create an account, and start applying for a loan.

What are the Requirements for a Tonik Loan?

Tonik loan requirements slightly vary depending on the type of loan.

📝 Requirements for a Tonik Quick Loan

Valid ID
Tonik savings account

📝 Requirements for a Tonik Shop Installment Loan

At least 10% of your total amount as a downpayment
Valid ID
Tonik savings account

📝 Requirements for a Tonik Flex Loan

Valid ID
ATM card
Latest Bank Statement of Account
Tonik savings account
Proof of Income: BIR Form 2316, latest payslip, or Certificate of Employment

📝 Requirements for a Tonik Big Loan

Valid ID
Latest Bank Statements of Account or payslips
If Married: Valid ID of spouse and Marriage Contract
If Widowed: Marriage Contract & Death Certificate of Spouse
If Annulled: Final Court Order on Legal Declaration of Nullity of Marriage
Copy of Condominium Certificate of Title
Real Estate Tax Clearance
Tax Declaration
Condominium Association Dues Certificate
Photos of the property

How Do I Start My Tonik Loan Application?

Wondering how to apply for a loan from Tonik? Just do so through the Tonik app. Tonik loan applications take only around 15 minutes to complete.

But before that, you need to create a Tonik account first.

👉 How to Create a Tonik Account

To create a Tonik account, follow the steps below:

Download the Tonik app from the App Store or the Google Play Store.
Launch the app and enter your registered Philippine mobile number. Click Next.
Read the Terms and Conditions. Click Agree and Continue.
Input the one-time password (OTP) sent to your mobile number.
Take a photo of yourself for verification purposes.
- Make sure you’re in a well-lit area with a plain background.
- Remove anything that blocks any part of your face (e.g., glasses, mask).
- Keep your photo in portrait mode.
- Put your face within the purple oval frame.
Follow the instructions (e.g., nodding or shaking your head) indicated in the app as you take the photo).
Scan your valid government ID in portrait mode and without using a camera flash. Make sure the whole ID is captured within the purple frame before clicking the capture button.
Scan both the front and the back of your ID.
Confirm your ID details (e.g., ID number, expiry date, etc.).
Enter your personal details (e.g., full name, sex, birth date, place of residence, work, source of income, email address, mother’s full maiden name). Click Continue.
Answer the Foreign Account Tax Compliance Act (FATCA) question to verify your citizenship. This is just a simple multiple-choice question.
Add your signature using your finger or a compatible stylus pen. Click Next.
Create a strong password that is eight to 26 characters long and has at least one special character, an uppercase letter, a lowercase letter, and a number. Click Continue.

👉 How to Apply for a Tonik Loan

Once you’ve successfully created a Tonik account, you can proceed with your loan application:

Click Loans from the main dashboard.
Choose between the loans.
Indicate the amount you wish to borrow by moving the slider.
Choose your preferred installment period.
Review the computed monthly installment based on your preferences. Click Continue.
Review the loan summary, including the interest rate and the processing fee. Click Apply for this loan.
Select the type of ID you can present. Click Let’s scan this ID.
Upload a photo of your ID. It will take about 24 to 48 hours for your ID to be verified. You’ll receive an email confirming verification.
Go to the Tonik app and repeat steps one to five.
Identify what you need the loan for by choosing among the options provided. Click Next.
Indicate which industry you work in.
Indicate how many dependents you have.
Verify your current city of residence.
Indicate your monthly income.
Indicate which bank you use.
Provide proof of your income (e.g., payslip or bank statement).
Wait for a notification regarding your application status.

Find out other easy ways to get a personal loan online:

How Do You Make a Repayment for Your Tonik Loan?

There are two ways to repay your Tonik loan. The first one uses the auto-debit feature, where your monthly amount is automatically debited from your enrolled Tonik savings account on the due date you set. You can also link a credit or debit card so you can automatically pay off your loan on each due date.

Tonik Loan FAQs

1. Is the Tonik loan app legit? Is it safe to use?

Yes. Tonik has a strong security infrastructure in place that protects the platform against any threat of account theft or fraud. It’s also regulated and licensed by the BSP and protected by the Philippine Deposit Insurance Corporation (PDIC), which insures your money for up to ₱500,000.^[4]

2. Where can you top up your Tonik account?

You can top up using the following channels:^[5]

PESONet
InstaPay
Your local bank’s debit card
Your digital accounts (BPI, UnionBank)
Over the counter (CLIQQ, 7-Connect, Cebuana, MLhuillier, SM Bills Payments)

3. Can you change your due date and loan term?

No. Tonik allows you to be flexible in choosing your due date, but you can set it only once at the beginning of your application. Before you take out a loan, make sure you choose the most ideal repayment date and scheme, as you can’t change these details once your loan is approved and you’re midway through repayment.

Final Thoughts

Loans are handy when you need extra cash for whatever justifiable reason. The flexibility and versatility they offer make them an attractive option when you need to fill a void in your budget.

The Tonik loan application process takes the stress out of the equation. Just make sure you don’t get too excited and waste your money on unnecessary things. Be wise in spending, and be just as responsible in repaying your loan.

Check Out Other Legit Personal Loans in the Philippines

Still exploring your options for borrowing money? Let Moneymax help you! Here's a table of personal loan features from the country's reputable providers.

Personal Loan	Loan Amount	Monthly Add-on Rate	Minimum Annual Income	Approval Time
UnionBank Personal Loan	Up to ₱2 million	1.29%	₱250,000	As fast as 5 minutes
UNO Digital Bank Personal Loan	₱10,000 to ₱200,000	1.79%	₱180,000	As fast as 7 banking days
Metrobank Personal Loan	₱20,000 to ₱1 million	1.25% to 1.75%	₱350,000	7 days
BPI Personal Loan	₱20,000 to ₱3 million	1.2%	₱180,000	5 to 7 banking days
RFC Loan	₱10,000 to ₱150,000	4%	₱120,000	As fast as 24 hours
Tonik Flex Loan	₱20,000 to ₱250,000	Starts at 1.7%	₱180,000	1 banking day
Tonik Quick Loan	₱5,000 to ₱50,000	Starts at 4.26%	₱180,000	As fast as 1 hour
Tonik Big Loan	₱250,000 to ₱5 million	0.5825%	None	7 days
Tala Loan	₱1,000 to ₱15,000	15%	None	24 hours
HSBC Personal Loan	₱30,000 to ₱500,000	0.65%	₱168,000	5 to 7 banking days
CIMB Personal Loan	₱30,000 to ₱1 million	1.95%	₱180,000	As fast as 24 hours
Maybank Personal Loan	₱50,000 to ₱1 million	1.3%	₱300,000	5 to 10 banking days
RCBC Bank Personal Loan	₱50,000 ₱1 million	1.3%	₱360,000	5 to 7 banking days
SB Finance Personal Loan	₱30,000 to ₱2 million	2%	₱180,000	5 banking days
CTBC Bank Personal Loan	₱500,000 to ₱2 million	1.39% to 1.79%	₱180,000	1 to 5 banking days
PSBank Personal Loan	₱20,000 to ₱250,000	1.75% or 2.5%	₱180,000	5 to 9 banking days