Video game industry

Tonik Unveils All-Digital Loans – Manila Bulletin

Tonik is accelerating financial and credit inclusion with the launch of its two new loan products, Flexible loan and big loan.

Building on the success of its all-digital savings wallet and the successful launch of its first loan product, Quick Loan, the new products are expected to position Tonik among the nation’s pioneering digital lenders with loans to suit all needs. .

Fast, convenient and coupled with low fixed interest rates, Flexible loan gives customers the freedom and flexibility to pursue their dream purchases and have the perfect experiences for the start of another year. Tonik’s best unsecured loan yet, Flex Loan offers 2.49% monthly interest for up to 24 months, on a loan of up to Php 250,000. No collateral is needed as employed clients would only need to provide their latest bank statement and proof of income.

A type of home equity loan, big loan offers a unique, versatile installment loan that allows a borrower to use the equity in their home. This property is then pledged to the bank, guaranteeing an amount of up to P2,500,000.

Relatively new to the Philippines, this type of loan product continues to be popular in more developed markets like the United States. It is mainly used for home improvement, investment for family businesses and debt consolidation under a low interest rate product.

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With Big Loan, the first fully digitized collateral product on the market, customers only have to visit the Tonik Hub once to officially sign loan and mortgage documents. Offering the fastest approval time in the market in a fully digital manner within minutes of loan application and disbursement within seven (7) working days of submission of documents, loan proceeds are disbursed to the accounts of Tonik savings from customers. No property appraisal fees are charged and no third party appraisals are required.

“Powered by our pure digital platform and the most competitive rates on the market, Flex Loan and Big Loan provide accessible, secure and much-needed credit for the huge underserved market in the Philippines,” said Tonik Founder and CEO. , Greg Krasnov. “With these new loans, we are excited to accelerate efforts to accelerate credit inclusion in the country.”

Flexible loan and big loan are now available in the latest version of the Tonik app which can be found and downloaded through the Apple App Store and Google Play Store.

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