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Tonik Bank personal loans for december 2022 in the Philippines

Get a personal loan at Tonik Bank. On 03.12.2022 there are 3 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 3

Updated:
20.10.2022
07:46
Shop Installment Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱5,000-₱100,000
Rate
i

Effective interest rate on the product

7% per month
Term
i

Loan term for the financial product

up to 24 months
Submit your loan application online
Submit your loan application online

Take advantage of our loan selection system with a free credit check!

Big Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to ₱2,500,000
Term
i

Loan term for the financial product

up to 60 months
Quick Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱5,000-₱50,000
Rate
i

Effective interest rate on the product

7% per month
Term
i

Loan term for the financial product

up to 24 months

Calculate the loan payment in the Philippines

Your ideal cash loan with a free credit check in the Philippines is just a few clicks away.

Best loan calculator
Loan amount
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Enter the desired loan amount

PHP
PHP
10000 ₱
200000 ₱
Loan term
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months
days
1
60
Interest rate
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Choose the interest rate on the loan

1 %
100 %
Type of payments
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Interest rates on loans in the Philippines 

According to the guidelines for Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms, the maximum nominal interest rate for unsecured loans is 6% per month (0,2% per day), and the maximum effective interest rate is 15% per month (0,5% per day). The caps apply to unsecured loans of no more than ₱10000 and payable within four months.

Online loan application in the Philippines

Loan amount
i

Enter the desired loan amount

1000 ₱
50000 ₱
Loan term
i

Specify the loan term for the calculation

5
60 days

You are able to pick a loan for free. You can receive money in: 15m

Online loan application
Your data is securely protected
Loan amount
0 ₱
Loan term
0 month
Loan commission
i

Here is the average overpayment on a loan based on data from lenders in the Philippines.

202

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Other types of loans

How to get a personal loan

Fill out your application
Fill out your application

On our website you can fill out a short application form for a loan.

Pass a credit check
Pass a credit check

We will offer you to check your credit score online for free.

Send your application online to the suggested companies
Send your application online to the suggested companies

After checking your credit rate, you will be able to send your loan application to the appropriate companies.

Wait for a response from the lender
Wait for a response from the lender

If necessary, the lender will contact you to clarify the details.

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Get your loan!

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DIGIDO
4
Margarita D
Margarita D
17.10.2022 at 12:26
The advantages of this app was good, they are very responsive and quickly answered you if you are able to get a loan or not.
Review
TALA
2.6
Allan P
Allan P
01.12.2022 at 09:55
With Tala I forget about banks and offices. Everything is in mobile, I could control my money and loan. Choose limit. I just needed driving license and phone number to register account...
Review
BillEase
4.2
Marvin T
Marvin T
27.11.2022 at 13:25
Billease is for you when you need to buy a new gudget but can't afford it, you may pay by parts. And I don't even need a credit card...
Review
TALA
3.2
Joan T
Joan T
24.11.2022 at 19:07
Tala is an option if you need cash quickly. I urgently borrow money I needed. Downloaded the app, apply and it take 5 min to get my cash. App is essy, interface is comfy.
Review
BillEase
4.2
Evelyn M
Evelyn M
22.11.2022 at 10:10
Fast approval and great app. It is easy even for me and I'm not good with technology. I apply, approved and get my Php 2000 in 30 minutes.
Review
Tonik Bank personal loans for december 2022

Types of personal loans

Tonik Bank offers two types of personal loans: Tonik Bank quick loan and Tonik Bank shop installment loan.

Tonik Bank Quick Loan

This is a safe, quick, and simple loan with no collateral from the bank. You can apply for a loan in minutes and receive up to ₱50,000 right away.

Features of Tonik Bank Quick Loan

This loan comes with some good features, they are listed below:

  • It features quick approval and immediate transfer to your Tonik account.
  • There is no requirement for a credit history or collateral.
  • The loan amounts range from ₱5,000 to ₱50,000.
  • It requires only one valid identification card and proof of income.
  • It offers the ability to select a salary payout date, which will also be the monthly loan payment date.
  • They offer installments of 6, 9, 12, 18, or 24 months.
  • The loan is 100% digital - all loan information is available on the Tonik app.
  • There is a real-time cash withdrawal of the entire loan amount.
  • There is just one bank account for application and cash payment.
  • It comes with a 7% fixed monthly interest rate. Also, when you attach your salary payroll ATM card, you will receive a reduced monthly interest rate of 5.42%.
  • There are no early termination or payment penalties.

Tonik Bank Shop Installment Loan

With this loan, all you need is a few minutes to receive a loan of up to ₱100,000 and shop for your preferred household equipment, such as an air conditioner, a television, a refrigerator, a laptop, ovens, and a washing machine.

Features of Tonik Bank Shop Installment Loan

Below are some of the features of this loan:

  • It features quick approval.
  • There is no down payment required, and there are no processing costs.
  • There is no credit card needed.
  • It features a fixed monthly interest rate of 7%. When you provide your purchase's official receipt, you will receive a reduced monthly interest rate of 4.5%.
  • There is a request for only one valid identification card and proof of income.
  • The loan amounts range from ₱5,000 to ₱100,000.
  • There is also a payment date flexibility - your selected due date.
  • There is no requirement for a credit history or collateral.
  • There are installments of 3, 6, 9, 12, 18, and 24 months.
  • The loan is 100% digital - all loan information is available on the Tonik app.
  • There is just one bank account for application and cash payment.
  • There is no early payment penalty.
  • When you reload your primary account, you will be auto-debited on your due date.

How to apply for a Tonik Bank personal loan?

It is expected that you have already downloaded the Tonik Bank app and created an account. For the time being, loan applications can only be submitted via the app. To successfully apply for a personal loan, follow the procedures outlined below.

  1. Open the Tonik app and log into your account.

  2. Tap on Loan and select the loan you want and then choose if you want to link your salary payroll card for repayment.

  3. Select the amount you want and choose the installment period.

  4. Answer the pre-qualification questions and then upload your government-issued ID card, then tap on Submit.

  5. Wait for your application to be reviewed.

Tonik Bank personal loan requirements

There are few requirements for these loans, which are given below.

Documentary requirements

  • One valid identification document could be any of:
    • Philippine passport

    • Driver's license

    • Philsys ID

    • UMID

    • SSS ID

    • PRC ID

    • Postal ID

  • One or more of the following:
    • Latest one-month salary bank statement

    • One-month pay slip

    • BIR form 2316

    • Certificate of employment

  • A Tonik account.

    Eligibility requirements

    Applicants:

    • Must be Filipino.
    • Must be 23 years old and above.
    • Must have a legit source(s) of income.
    • Must be a Filipino residence.

    Pros and cons

    Before choosing on a Tonik Bank personal loan, consider its benefits and drawbacks to determine if it is the best option for you. Here are some of the loan's genuine advantages and disadvantages.

    Pros

    • The loan is fully online based. Everything (application, payment, etc) is online.
    • There is no need for collateral or credit history.
    • The loan application approval and disbursement is very fast.
    • The applicant can choose their loan repayment date.

    Cons

    • The maximum loanable amount is just ₱50,000.
    • The loan application is only one way - the app.

    How to repay the Tonik Bank personal loans?

    Tonik Bank personal loans can be repaid through an automatic debit arrangement (ADA), which must be enabled during the loan application process. The Tonik Bank mobile app allows you to track your loan and payments, and a late payment penalty occurs if you miss a payment.

    FAQ

    What is the Tonik Bank personal loan interest rate?

    If you successfully attach your paycheck ATM card, the monthly statutory rate for the Tonik Bank personal loan is 5.417%. This is constant regardless of loan period. That equates to a 65% annual percentage rate (APR).

    What are the Tonik Bank personal loan fees?

    Tonik personal loan product has a processing charge of ₱500.00. This is a one-time charge that is deducted at the time of cash distribution. Your loan repayments are also subject to late payment costs of ₱500.00, if applicable.

    Is it possible to reapply if my prior Tonik personal loan application was denied?

    It would be determined by their examination of the information and concerns presented during your personal loan application. Because each approval procedure is unique based on the data supplied by applicants, some may be able to, while others may not.