Minimum loan amount
Minimum annual income
You dreamt you had a country house last night but woke up in your cramped condo unit in the noisy city. Make your assets work for your plans by using your condo to get the funds through Tonik Big Loan. Borrow up to ₱2.5 million in as fast as 7 days! Apply for a Tonik Big Loan today!
Note: you need to borrow at least ₱250,000 and be an owner of a fully paid condo unit to apply.
|Age||23 to 55 years old|
|Minimum Annual Income||P0|
|Credit Card||Not Required|
|Landline Number||Not Required|
|Valid TIN / SSS / GSIS or UMID number|
|Proof of income|
|Late payment Fee||P2,500|
Is this the right product for you?
Checkout the other personal loan listing.
Did you know that you need to own a fully paid condo unit to apply for a Tonik Big Loan? Got one? Good on you, luv! Now, enjoy this review!
Make your condo unit work for your dreams with Tonik Big Loan, a multipurpose loan that lets you leverage your fully paid condo unit to borrow ₱250,000 to ₱2.5 million in the most convenient way—through the Tonik app! Once approved, you’ll only have to visit the Tonik Hub once and receive the loan proceeds on the same day!
You’ve got big dreams, now you need a ticket to get there. That’s where Tonik comes in, luv! Tonik Big Loan is your ticket to your next life destination with its max BIG loan amount of ₱2.5 million payable up to 5 years. With the help of your fully paid condo, you can now imagine your future self accomplishing one, or even two, of the goals below:
Hey, big dreamer! This loan is for you if you fit Tonik Big Loan’s eligibility criteria:
Tonik has an online personal loan calculator that you can use to check which repayment term for your target loan amount will work best for your budget.
Note: The resulting figures of your calculation are just estimates. They’re subject to change. Remember that your actual amortizations will be reflected in the loan disclosure statement.
(min. loan amount)
Loan terms: 12, 24, 36, 48, and 60 months
Loan amount: ₱250,000 to ₱2.5 million
Monthly contractual rate: 1.0825%
Annual percentage rate (APR): 12.99%
Processing Fee: Free!
Appraisal Fee: Free!
Late Payment Fee: ₱2,500
Document Stamp: ₱1.50 for every ₱200 of the borrowed amount
Mortgage Redemption Insurance Premium: ₱4 for every ₱1,000 of the amount loaned
Property Insurance Premium: 0.095% of the loan amount + applicable taxes
Registration fee: 1.5% of the amount loaned
Pre-Termination Fee: 5% of the Outstanding Loan Amount (if applicable)
Tonik’s basis for your loan amount will be the value of your fully paid condo unit. To determine that, they’ll ask for some details and documents and will get in touch with the building administrator to confirm the information you’ve provided.
Bigger is always better and with Tonik Big Loan, you can borrow amounts ranging from ₱250,000 to ₱2.5 million.
Yes, luv! The loan pre-approval and application process happens here. You’ll receive a notification once you’re approved which means it’s time to visit the Tonik Hub to submit your documents and get your ka-ching!
Bring the final set of required documents when you visit the Tonik Hub that’s located at Unit 605-B, 6/F West Wing, The Estancia Offices, Meralco Avenue, Pasig City 1605. Bring two valid IDs—one to leave with the Estancia Offices guard and the other at the Tonik Hub office.
Tonik is warm and friendly and wants to personally say hi to you via phone and verify your information. They’ll also give your employer and building administrator a call for the same reason. Give them a heads up so they won’t be #shookt.
Whatever amount you borrow will be insured with Mortgage Redemption Insurance and Property Insurance (different from the Property Insurance provided by your condo developer). Borrowers will pay for the insurance premiums. It’ll be deducted from the loan proceeds for the first year and automatically deducted from your Tonik account on the due date for the succeeding years, if applicable.
We usually think that the higher the loan amount is, the longer the waiting period. Big Loan challenges the norm since you’ll receive your full loan in only 7 days!
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