This is a sad reality not only here in the Philippines but in other parts of the world too – most of us don’t make enough money to support all of our needs or save enough to cover for our health emergencies. And when tough times come, we’re left with only one option – to loan the deficit. But what do you do when you don’t have supporting documents and you badly need cash, right away?
Here’s some good news – You now have a company you can trust without being too demanding on requirements. Tala Philippines could be your new savior in times of need.
Tala is a mobile app you can download and install. You simply have to create an account and provide all of the information they ask you to share including name, address, birthday, contact numbers, copy of valid id, your photo verification that the id is indeed in your possession, and bank details to where your loan will be deposited.
The ids they accept are:
- Driver’s license
- Passport
- Postal ID
- PRC card
- UMID/SSS ID
- Voter’s ID
Applying is very easy. After sending out your details, the app will review your requirements and will inform you after 24 hours whether your loan request has been approved or declined. When you are approved for the first time, you will be able to loan between 1000-2000 pesos. However, they will already subtract the interest so you will get less than the approved amount for the first loan.
Once loan is approved, the funds will be disbursed through remittance centers like Cebuana, Palawan, M Lhuillier & LBC, Banks or Coins.ph account.
You are given the option to pay after 21 days or 30 days. When the due date comes, you need to pay your balance to prevent getting warnings and the chance to be complained to the Small Claims court. And if you fail to pay, you will be subjected to 8% penalty per day.
Payments can be done through 7-Eleven, Cebuana, M Lhuillier, and Coins.ph. You simply have to choose the media you want to pay from and the app will give you a reference number you should use to pay. After depositing your balance, you can automatically reapply without having to answer the questions when you first applied for a loan.
Paying on time and repeat borrowing will increase your credit limit. Every time you borrow and successfully pay your loan, your credit limit will increase by 500 pesos. The app allows you to borrow up to 10,000 pesos only.
So when should you use Tala Loan?
Since the amount is pretty decent – 1000 pesos to 10000 pesos – getting loan from Tala is ideal when you need additional funds for medication, education, food, bills, and emergencies. For surer, you can use them on shopping and travel too; the purpose is really up to you.
Tala is a 100% legit app that provides FAST loans. Many Filipinos are already using the Tala Loan app to bridge the daily deficit they are facing until their next salary comes.
Apart from the Philippines, Tala is also used in Mexico, Tanzania, Kenya, and India.
