Planning to apply for a loan online? Read this before you apply or regret why you don’t. This post is short and sweet 🙂
Online Loans in the Philippine are powered by FinTech, it is an advanced technology used by online lenders so they can offer online loans to us Filipinos through websites and mobile applications.
There are many people who have complained about online loans and the trauma they have experienced after failing to pay their obligations in time.
So, is online loan safe?
The answer is yes and no.
If you go to the Google Playstore right now, there are lots and lots of new online lending apps that you can find.
If you are tempted to install one of them because of the promise of fast and easy loan application — the app has now access to the most valuable assets in your phone — your contacts.
So, what will happen then? If you can’t pay, then some loan agents will simply send bulk messages to all your contacts, spreading how you miss or try to run your loan obligation.
Oh No! So, should I still apply for a loan online?
Of course, but with caution.
Do not just apply because your friends on Facebook told you so. If you really need the extra cash, then try it… or make it as your last option.
If you run out of option, then you can consider one of them.
Are All Online Loans the Same?
No. There are a few exceptions just like TALA Philippines. TALA is considered one of the best online loan applications in the Philippines, and it is an international lending company. Truly one of a kind.
They have one of the friendliest customer service based on our personal experience. If you haven’t tried them yet, I would personally tell you to try that app first before anything else.
Late payments sometimes are inevitable, given that the term is literally short. Some will due in 14 days, ouch!
However, TALA will give you some options. Even if it’s late, you the convenient to settle it without high charges and late fees.
I Don’t Want an App, Can I Apply via Website?
Yes, you can. Unfortunately, TALA Philippines only works with an application. Yet, we have a few online lending that offers applications through their website.
Meaning, you don’t need to install an App on your phone, so your contacts are safe!
However, even if we recommend this app, as I said earlier, be cautious all the time. Search the web for reviews or ask your friends on Facebook for their experiences…
We have personally tried these lenders too, the interest might not be as low as TALA, however, the amount that might be approved to you is higher for the first-time loan.
For emergency purposes, these are good options since the approval is fast.
Pay Your Obligation on Time to Avoid Problems
If you want a hassle-free loan experience, make sure to pay the due on time.
Sometimes, it is our fault why we are in a difficult situation. I am active on Facebook and I came across a lady who had 9 loan payables all at the same time, or at least with a day gap between them.
She had complained there, and for what?
Is it the lenders’ fault?
Because of the accessibility of online loans, sometimes, some people will just take advantage without realizing the trouble it will cause when those loans will become due for payment.
Well, it is just sad that several folks have shown support for the kind of behavior and even encouraged the lady to just ignore it…
Join Our Facebook Group for a Meaningful Loan Discussion
If you have doubts or questions about online loans, make sure to join our closed group on Facebook.
We will personally monitor our Facebook groups. We can discuss anything there about online loans and related topics.
If you are experiencing trouble right now, it is also a support group! See you there, Kabayan 🙂