Tonik Quick Loan Review
If you’re discouraged to apply for a loan in traditional banks because of the jargon and the long list of requirements, then try Tonik Quick Loan—a hassle-free and affordable option for your personal loan needs. Get approved faster than the K-Drama episode you’re watching and have the freedom to choose your due date schedule.
Where Can I Use a Tonik Quick Loan?
Tonik Quick Loan is ideal for situations that require cash payout immediately. You can borrow loan amounts ranging from ₱5,000 to ₱50,000 and get approved as fast as 1 hour. Tonik Quick Loan can help you with these scenarios:
- Additional business funds - Damaged equipment, sudden price uptick with your suppliers, or the need to hire more employees—these expenses are not cheap. Iron out your urgent business needs with a Tonik Quick Loan.
- Appliance purchases - If you keep sweet-talking your worn-out refrigerator for it to work, it’s a sign to let go and buy a new one by applying for a Tonik Quick Loan.
- Emergency travel - LDR is a pain, especially if Mr. Right from a different country needs your TLC after he got into an accident. Shorten the distance and let luv find a way when you apply for a Tonik Quick Loan.
- School expenses - Students get a first day high at the start of school, while parents shake their heads and sigh when they see their kids' tuition fees. Here, apply for a Tonik Quick Loan and feel better.
Who Can Get a Tonik Quick Loan?
Come get your quick cash fix! But first, you need to fit Tonik Quick Loan’s eligibility criteria:
- At least 23 to 58 years old
- Filipino citizens living in the Philippines
- Minimum monthly income of ₱15,000
- Must be currently employed
- Must have a tax identification number (TIN)
Tonik Quick Loan Requirements
- Valid government-issued ID with photo and signature
- Tonik Account
Tonik Quick Loan Calculator
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.
Tonik Quick Loan Sample Computation
Tonik Quick Loan Interest Rates and Fees
Loan terms: 6, 9, 12, 18, or 24 months
Monthly add-on interest rate: as low as 4.26%
Annual Percentage Rate (APR): 84%
Processing fee: One-time deduction of ₱1,000 upon loan disbursement
Documentary stamp tax (DST) fee: One-time deduction of ₱1.50 per ₱200 of the borrowed amount
Late payment fee: ₱500