About lender
Asialink Finance Corporation is one of the Philippines' leading and fast-growing financial institutions. The company was founded in June 1997 by a group of ambitious executives who launched into the consumer lending market with a capitalization of only ₱3 million. Asialink Finance Corporation currently employs over 700 people and thousands of independent loan consultants and has over 80 offices worldwide. The company tries to address the financial requirements of both businesses and individuals.
Asialink Finance Corporation provides a diverse range of lending products, including personal loans for OFWs and seafarers, vehicle and truck mortgages, clean and secured company loans, and consumer loans such as second-hand car and truck financing.
Asialink provides short-term loans with a flexible payback schedule. This gives you ample time to return the money easily. Furthermore, the loan is granted in a matter of minutes. All you need is a smartphone or a computer to get started. Asialink Finance employs the most recent website upgrades to maintain the privacy and security of the customer's information the company believes its user’s data and information are critical and must be safeguarded. The Asialink Group of Companies considers its operations to be highly beneficial to Filipinos.
Pros and cons
Before applying for a loan from any company, you should carefully consider its advantages and disadvantages. This will allow you to make a sensible decision before opting for a loan.
Pros
- In comparison to banks, which need a mound of paperwork, there is little documentation necessary.
- It is a faster process because the loan from Asialink gets granted in 20 minutes.
- An accurate business assessment and advanced algorithms analyze the business and evaluate the type of risk it poses to the enterprise. As a result, it ensures that the information provided is correct and free of human mistakes.
Cons
- If you do not pay, you may lose the asset.
- Although the application procedure is short and simple, the processing and acceptance of your papers may take a few days.
Loan conditions
Asialink offers interest rates ranging from 1.5% to 4%. Borrowers must be aware that the loans have a late payment penalty. Asialink also provides auto financing of up to 70%. This implies that in most situations, borrowers must pay just 30%–40% of the vehicle's worth as a down payment, with the remainder funded by the loan.
Before beginning the application process, whether online, by phone, or in person at a local AsiaLink Finance Corporation branch, make sure to have the following original documents on hand: certificate of registration for a vehicle, income documentation, the most recent photograph of the vehicle, and tax identification number proof (TIN).
AsiaLink Finance Corporation delivers a quick and straightforward application procedure that is accessible to anyone by visiting the company's website, filling out all of the relevant areas on the application form, and completing the entire AsiaLink Auto Loan criteria.
Funding a loan
There is a wide selection of financial products available. Applicants can obtain funding for a new or used automobile, an OFW loan, a home mortgage, or a small business loan. The loan terms and conditions are also adaptable.
Types of loans provided by Asialink include collateral loans with products like car or truck mortgages, multicap loans, etc. The detailed description is given below:
- Car mortgage. This loan is only available for car models released after the year 2000. To get this loan the applicant has to fill out the application form along with the car’s OR/CR. They will also have to submit their proof of income, latest car pictures, and TIN. The loan amount is equivalent to 70% of the value of OR/CR. The interest rate is 1.5% per month
- Truck mortgage. Applicants with the truck’s official receipt (OR) and certificate of registration (CR) can apply for this loan. They will have to submit a proof of their source of income, the latest pictures of the vehicle, and a valid TIN. The loan amount is equivalent to 70% of the value of OR/CR. The interest rate is 1.5 % per month
- PUV/PUJ/Taxi loan and Multicab loan. Applicants who want to start their taxi business can apply for this loan. They will have to present the vehicle’s official receipt (OR) and certificate of registration (CR). They will have to submit a franchise proof and a permit to operate a taxi. The loan amount is equivalent to 70% of the value of OR/CR. The interest rate is 1.5% per month
- Car financing. Users who want to purchase cars can apply for a loan which can be up to 70% of the value. To prove the vehicle’s value, you will be required to present a quotation of a brand new car. They will be required to pay a minimum downpayment of 20%. The loan repayment term is up to 36 months. The company takes around 24 hours to process the loan
- asialinkfinance Applicants who want to purchase a new truck can apply for a loan which can be up to 70% of the value. To prove the vehicle’s value, you will be required to present a quotation for a brand new truck. They will be required to pay a minimum downpayment of 20% and the loan repayment term is up to 36 months. The loan is generally processed within one day.
