Is Buy Now, Pay Later Worth Trying?

You’ve seen it in Lazada countless times. You also noticed that there’s an installment option every time you but from online stores like Linen and Homes, Mumuso, and Kimstore.

Shop Now, Pay Later facility of online stores like BillEase and TendoPay helped bridged the gap and gave unbanked, non-credit card holder Filipinos to have an access to an installment scheme service. This means even without having a credit card, you can still split the payment for your purchases in equal installments.

The question now is this: is it even worth trying? 

The answer is it depends on how you will use this scheme to your advantage. After all, installment plan sans credit card allows you to shop more. Instead of limiting your opportunity to buy items that you need, Shop Now, Pay Later gives you more buying power to purchase items. This will come in handy especially for items that are needed such as new appliance, gadget for your kids’ online class, or work-from-home paraphernalia.

Shop Now, Pay Later increases one’s buying power. You use to limit your spending based on the amount of money you have, which is a good practice. After all, you must only pay for the items you can afford.

Through the installment scheme offered by online cash lenders, you now have a higher buying power. This means you can afford items that are generally our of your price range since the payment terms are more flexible.

You also get to extend payment. It’s okay to pay everything at once so you don’t have to worry later. However, you’ll never know when you might need cash. Through installment scheme, you can extend the payment by setting aside the installment portion every month and use the rest of the funds for other equally important expenses like utilities.

Still, don’t get too excited. It’s true that BNPL scheme is easier and more convenient, but this doesn’t mean it’s your ticket to shopping bonanza.

Here are some things you need to remember before you apply for this type of facility:

  • Always set a budget. Even if you can pay on installment, this doesn’t mean your funds are endless. Set a budget for the things you only need to avoid drowning in debt.
  • Know your lender. There are several lenders in the market that offers Shop Now, Pay Later facility. This includes BillEase and TendoPay among others. Take some time to get to know them because each lender has its pros and cons in terms of loanable amount, duration of the loan, and interest rate.
  • Check the terms. What will happen in case you missed a payment? How much is the interest rate per month? What are the available payment channels? In other words, take some time to read the contract. It contains everything you need to know when it comes to your loan.
  • Buy what you need. Again, installment plans will make shopping easier and more convenient, but it’s not an excuse to splurge. Aside from sticking to a budget, stick to your needs only. A loan is still a loan that requires payment.
  • Set reminders. Unlike one-time loans, the BNPL facility means you have to make payments on a specific date every month. Always set a reminder to avoid delay. Lenders pay close attention to one’s payment behavior and any delay, regardless if it’s just one time, could affect your chances of getting a higher loanable amount the next time.

More importantly, be a responsible borrower. Lenders who offer this facility helps bridge the gap and gives financial access to those thousands of unbanked Filipinos. How you handle this type of loan will make or break your chances in case you are aiming for higher loans like Housing or Car Loan. This will also reflect on your personality as a borrower.

7 Shopee Shopping Tips Every Online Shopper Must Remember

When was the last time you opened the Shopee app?

Admit it. You check Shopee several times a day. You want to know what are the latest deals or the products you are eyeing for is already on sale. Since you can’t go out as much as you can, you rely heavily on e-commerce sites and apps to get your needs.

Many will tell you to stay away from shopping sites like Shopee because it will only tempt you to buy even items you don’t really need. No worries because believe it or not, there are ways that could make every Shopee trip worth it without compromising your budget.

Stick around because below are Shopee shopping tips you need to know by heart in order to get bigger savings and better deals:

Tip No. 1: Two Words – Flash Sale 

If you want to score the best deals for higher savings, then you need to set your alarm for flash sales.

Check out the listings and take note of the time the seller will start selling out. Make sure to set an alarm and be online at least five minutes before the scheduled flash sale time. Check out as soon as the item is live to secure the item.

More importantly, don’t forget to click the “Remind Me” button so you will be updated once your preferred item goes on sale.

Tip No. 2: Avail Of The Free Shipping Vouchers

Even if you were able to save more on the item, shipping costs could eat a chunk on your budget. This is especially true if you have items to be delivered from another island or country.

Thankfully, Shopee has Free Shipping vouchers that you can avail of to save more against additional expenses. Simply claim the voucher upon checkout for bigger savings. Or, you can go for items with “Free Shipping” badge on it to be sure.

Tip No. 3: Follow The Stores You Will Shop From 

To entice customers to buy, stores often give discount coupons especially to first-time customers. Take advantage of this since this could translate to bigger savings.

P50-discount is still P50-discount, yes?

Tip No. 4: Take Advantage Of The Double, Double Sale

8.8, 9.9. 11.11, 12.12 – these are what Shopee calls Double Double Sale. This day is exceptionally special because it is Shopee’s biggest sale events where customers can score items at their lowest prices.

Here’s another tip: make sure to add the items you want to buy in your cart as early as possible so come sale date, you can easily check out. A lot of people are looking forward to this, so you better be quick.

Tip No. 5: Use Shopee Pay 

There are tons of payment options available in Shopee. Aside from the usual cash and bank deposit, did you know that it now has e-wallet?

Known as Shopee Pay, this mode of payment allows you not only to pay for your items conveniently but also to give you more deals, exclusive discounts, and bigger savings.

Pro tip: Top up your e-wallet every Thursday and pay using Shopee Pay. This is when you can get upsize on offers, enjoy bigger discounts, exclusive perks, and avail of more shopping vouchers.

Tip No. 6: Leave Product Reviews

Reviews are helpful. It gives other customers an idea on what to expect and whether or not the product is worth buying.

To encourage customer reviews, there are shops that reward customers for leaving meaningful and helpful reviews. You will be rewarded with Shopee coins, which you can use when paying for your succeeding purchases.

Tip No. 7: Offer Referral Code

Shopee may be a popular e-commerce app but not many still believe or are comfortable doing their shopping online. When you offer your referral code, not only can you get coins deductible for your next purchase but it also entitles the user of the code to get discounts upon check out.

It’s a win-win.

Here’s some good news: did you know that you can pay for your Shopee purchases on installment even without credit card? Check out this post on how to avail of Shopee Installment with the help of BillEase.

So, are you ready to go shopping? Just remember that financial responsibility is a must to avoid buying items that are way beyond your capacity to pay.

9 Lazada Shopping Tips And Tricks Every Online Shopper Must Know

One of the online events many people are excited about is the monthly sale of Lazada. Take the case of 11.11 sale, which happens to be a tradition now echoed by many online sellers in the country.

Lazada paved way for entrepreneurs, both big and small, to reach out to thousands of customers, regardless of where you are in the country. It even came up with various payment methods just to cater to people’s preferences, including installment payment in partnership with various lenders like BillEase and TendoPay. 

Before you get excited, here are tips and tricks you need to remember when shopping online, particularly in Lazada:

Tip No. 1: Add To Cart Early 

Every month, Lazada comes up with sales to entice people to buy. Even if it’s not yet 8.8, 9.9., or 12.12, you need to start adding items to your cart.

Take note that some items have limited supply. If you’re eyeing for a particular item, add it to your cart now so you can have first dibs and not worry about losing it. Come Sale Day, click checkout.

Tip No. 2: Wishlist

Don’t underestimate this function. Items added in the Wishlist allows Lazada to send you updates or alerts about those products you picked. Simply add what you want and wait because who knows, there might be deals that are hard to say no to.

Tip No. 3: Use Vouchers

The good thing about Lazada is that they are generous when it comes to vouchers. Take advantage of Free Shipping and discount vouchers from both partner merchants and onsite to be able to enjoy bigger savings. Some vouchers provide deals on top of the discount, which makes it hard for you to pass.

Tip No. 4: Lazada Exclusives 

Waiting for vouchers will take time or worse, none at all. Nevertheless, Lazada launches “Exclusives” or deals that you can get only from Lazada. Take note of this because it gives exclusive deals and promos for bigger savings.

Tip No. 5: Buy From The Same Seller

Let’s say you need a new non-stick pan and chanced upon seller A who sells pans at reasonable prices. Before you check out, you might want to look into the store as well and find items that could be useful at home.

Why? Because buying from the same seller not only allows you to save and maximize shipping costs but also make it easier for you to reach minimum amount to enjoy vouchers or discounts. Just make sure that you’ll buy items you will need to make the most out of your money.

Tip No. 6: Read, Read, And Read

Most of the time, all the information you need to know about the product is indicated in the description. Take time to read through because Lazada sellers are generous in sharing information.

Taking time in reading the item’s description will already give you an idea on what the product is about and whether or not it fits your needs.

Tip No. 7: Don’t Forget The Reviews

Apart from the item’s description, you need to read seller’s reviews, too.

Lazada users can rate a seller and provide sufficient reviews regarding their shopping experience, seller’s attitude when customers are asking questions, and quality of the product among others. Lazada also verifies customers who bought from a particular seller, so you know that what you’re reading is legit.

Tip No. 8: Watch Livestreams

Shoppers are often advised to always be on the lookout for vouchers but guess what, livestream could give you those.

Livestream allows sellers and even companies with partner social media influencers to present their products and answer questions about it. Aside from that, this is also a good opportunity for them to throw deals and promotions that allows buyers to have bigger savings. These deals are exclusive during livestream, so make sure you watch out for these.

Tip No. 9: Explore Your Payment Options

There are several ways on how you can pay off your items. While Cash on Delivery and bank deposit are still the popular options, there’s another mode of payment you need to consider: Shop Now, Pay Later. 

Through partner merchants like BillEase and PayLater, this option lets buyers to pay for their purchases on installment basis. The best part is that you don’t need a credit card to enjoy this service. Simply sign up with your choice of lender and you can now enjoy this payment option.

Here’s the most important tip: budget. Don’t get too excited and focus only on essential items. Having a budget for your Lazada purchases will ensure that you won’t end up in debt.

Get Your New Gadget For Online Class – And Pay In Installment – With InvestEd

The effects of Covid-19 pandemic are unprecedented. All of a sudden, the world is facing an enemy with no cure, thereby killing millions of people and forcing billions more to stay at home to prevent the spread of virus.

As they say, life must go on. This includes going to school.

Since face-to-face classes are prohibited to minimize the spread, schools adopted Online Distance Learning, which means students will meet their teachers and classmates virtually. When Distance Learning is being implemented, this follows that every student will need one gadget to be able to attend classes.

Here’s the thing: gadgets don’t come with a cheap price tag. If you prefer a reliable learning tool, then then you might have to spend at least P20k for a laptop.

Thankfully, there’s InvestEd.

Who is InvestEd?

InvestEd is a company that offers sustainable and inclusive student loans to kids, regardless of the socio-economic class. The company, led by individuals who are successful in various fields such as Education and Microfinance, believes that investing in youth could help them gain employment and succeed later on in life.

InvestEd also offers Student Loan, which allows you to finish schooling and pay the loan after graduation. Apart from the financial assistance, the student-borrower can also have access to financial coaching and an overall college experience.

Here’s the exciting part: InvestEd recently partnered with Lazada so you can finally get a gadget for distance learning.

The InvestEd x Lazada Partnership

InvestEd believes that no student must be left behind in the new normal. Unfortunately, one of the reasons why students opted not to study this school year is because they cannot keep up with the growing needs in online classes. Apart from the stable Internet connection, students need their own gadget where they can attend classes and be able to submit requirements. This could be heavy on the parents’ pocket, especially when there are multiple kids.

Through this partnership and in line with the company’s commitment to help Filipino students’ reach their dream, students can now purchase any gadgets from Lazada through Gadget Loan. In fact, you can get a loan for any of the following:

  • Laptop
  • Tablet
  • Mobile phone
  • Mobile Internet

Students, through their parents, can apply for this loan as long as the following criteria are met:

  1. Student must be 18 years old and above
  2. S/he must be enrolled in any college, university, or other learning institutions in the Philippines
  3. S/he must be in last two years of schooling

How To Apply For A Gadget Loan 

There are two ways to apply for this loan. You can apply through the Invested website or through the Lazada app.

Applying Through InvestEd Website

  1. Visit the InvestEd website (www.invested.ph) and fill out the online application form. You can also access the application form here.
  2. Make sure to choose Gadget on the loan product you plan to avail.
  3. InvestEd representative will review your loan application. If approved, then the loan credits will reflect in your Lazada wallet.
  4. Choose the gadget you wish to purchase, use the credits from your Lazada wallet, and then wait for the items to be delivered to you.

Applying Through The Lazada App

  1. Download the Lazada app. This is available on both App Store and Google Play Store.
  2. Go to your Lazada wallet.
  3. Click Loans and then choose InvestEd. 
  4. Fill out the online application form. Thereafter, InvestEd representatives will review your application.
  5. Once approved, you can now purchase the gadget you will need for your online class.

Take note that repayment options for the monthly installments include auto-debit arrangement from bank account, bank transfer, and payment through Bayad Center, convenience stores, and pawnshops.

The InvestEd x Lazada partnership could help bridge the technological gaps in education during this challenging time. Unfortunately, this is open to college and post-graduate students only. We have yet to wait if InvestEd will offer the Gadget Loan facility to junior and senior high school students or even better, to all students.

In the meantime, if you qualify for this loan, then take advantage of it.

Shop Now, Pay Later With TendoPay

Have you ever had that experience when you want to purchase a product but you can’t because:

  1. You don’t have much cash with you, or
  2. You don’t have a credit card.

Frustrating, isn’t it. As much as you want to apply for a credit card so you could buy big items and pay for it in installment, you can’t. Sadly, you need to have a bank account first and you need to establish that you are a worthy borrower.

Not that you’re not worthy, but banks can be picky. If you can’t back up your payment capacity, then you need to look into other means, just like the Buy Now, Pay Later scheme offered by online lenders.

The BNPL scheme targets unbanked Filipinos who don’t have access to credit cards. Through BNPL, you can make purchases from any of the lender’s partner merchants and pay for the item in equal monthly installments. This could range from a month to 12 months, depending on the lender.

Speaking of lender, there is one that is getting popular these days – TendoPay. 

What is TendoPay?

TendoPay is an installment plan solution that allows customers to pay for online purchases in two to 24 monthly installments.

To apply, you can either:

  • Create an account through their website. Take note that the approval isn’t automatic. All required documents must be uploaded first in order for TendoPay to review your account. You will be informed of the status of your registration after 48 hours (or earlier, depending on the volume of applications). Once approved, you can now start shopping at TendoPay partner merchants.
  • Use TendoPay as your payment method every time you make a purchase from their e-commerce merchant partners. You will still be required to register and fill out an online application form before TendoPay can process your installment application.

As of this writing, TendoPay’s growing list of partner merchants include Lazada, Anson’s, Zalora, Royal Gem, Hapi Homes, Harman Kardon, Data Blitz, Kimstore, and Henry’s Camera among others. You can check the complete list of merchants here.

TendoPay Employee Benefit Program

This is an innovative benefit that employees will love. Employers can apply for this program wherein their employees can be entitled to:

  • TendoPay virtual credit card, which they can use when making purchases online
  • No minimum salary threshold, which means all regular employees are qualified
  • Credit limit is up to 75 percent of gross monthly income for first-time users. This could go higher depending on frequency of loan and payment behavior
  • Low interest rate starting at 2 percent, with some partner merchants charging zero percent interest
  • Fast approval for all regular employees
  • Loans will be managed by TendoPay

TendoPay Installment Loan Features

  • Loan amount between P3,000 and P30,000, although the maximum loan amount can only be increased depending on the frequency of borrowing and when borrower makes timely payments
  • Loan term between two and 24 months
  • No upfront fees
  • Loan application process will take a maximum of one business day from the time all documents are submitted or uploaded
  • Sending of notifications to ensure that no installment will be paid late
  • Various repayment channels including 7-Eleven, Cebuana Lhuillier, LBC, Bayad Center, SM Payment Center, ECPay, GCash, PayMaya, and Robinson’s Department Store

What are the things I need to remember before I apply with TendoPay? 

  • Borrower must be of legal age at the time of the loan application
  • With valid email address and mobile number
  • Upload a copy of a government-issued ID like Driver’s License, SSS ID, Passport, PRC ID, and UMID
  • Utility bill such as electric or water bill that is not older than three months. This should also reflect your address for verification purposes.
  • Proof of income like pay slip or Certificate of Employment that is not older than two months

TendoPay is available nationwide. This means wherever you are, you can have access to this financial service and make shopping easier.

Just make sure to pay your installments on time so you could get an increase in your credit limit.

Lean On Aeon Philippines For Your Next Installment Plan

Appliances, furniture, and gadgets are meant to break down over time. No matter how much you take care of them, there will come a time when you need to replace them. Because of the pandemic and instability in the job, you might stall the purchase since there are more important expenses, say bills or your kids’ tuition fee.

Thankfully, there are online lenders that offer products for people who don’t have access to banks. Even without a savings account or credit card, you can still be eligible to borrow money for emergencies. One of them is Aeon Philippines.

Who is Aeon Philippines? 

Aeon Credit Service (Philippines) Inc. or Aeon is a financing company established in the Philippines on February 2013. It is a subsidiary of AFS Corporation Co. Ltd., the holding company of Aeon Bank based in Japan. AFS Corporation is also a part of the Aeon Group, Japan’s biggest retailer with brands like Kidzoona, Ministop, and The Body Shop under its name.

Aeon believes in empowering customers by providing appropriate financial services to help achieve a better life. Unlike banks. Aeon targets thousands of unbanked Filipinos who don’t have access to financial services such as loan.

At present, Aeon Philippines has offices in Cebu, Davao, Pampanga, and Legazpi.

What financial products does Aeon Philippines offer? 

As of this writing, Aeon Philippines offers the following financial services:

  • Appliance Loan
  • Furniture Loan
  • Gadgets Loan
  • Personal Loan

The Appliance, Furniture, and Gadgets Loan can be availed and paid on installment basis. To enjoy these services, make sure to download the Aeon Philippines app, which you can get only through Google Play Store. As of this writing, the app is only available to Android users.

For purposes of this article, we will not focus on Personal Loan and will be discussed in succeeding posts. 

Appliance, Furniture, And Gadgets Loan 

These financial products allows you to buy appliances, furniture, and gadgets in case the old ones need to be replaced. Unlike personal or cash loan, you can pay for your loan on installment basis.

Product Features:

  • Loan term is between six and 24 months
  • Interest rate of 3.5 percent for general products and 5 percent for gadgets
  • With corresponding processing fee (depends on the loan amount). This is pegged at three percent of the total loan amount or P500, whichever is higher.
  • Downpayment may be required depending on the item. Appliances, laptops, and other gadgets may need 10 percent down payment while smartphones require 20 percent.
  • Payment centers include 7-Eleven, Bayad Center, Cebuana Lhuillier, MLhuillier, SM Bills Payment Center, ECPay, LBC, Villarica, TrueMoney, AllDay, CVM, Express Pay, Pera Hub, Touch Pay, and USSC
  • Online payments are available through GCash and PayMaya
  • Bank-to-bank deposits are also allowed through BDO, BPI, Metrobank, Security Bank, Union Bank, and UCPB

How To Apply: 

Step 1: Download the app in Google Play Store. This is important because application will only be processed through the mobile app. Unfortunately, there is no website version.

Step 2: After downloading the app, you can now proceed with the online application. Don’t forget to upload the documents needed such as ID.

Step 3: Wait for approval from Aeon Philippines. This usually takes up to one business day. Once approved, you can now go to Aeon’s partner merchant that you chose in the app and buy the item you need.

Step 4: Make sure you have the following documents when you go to the partner merchant to claim the item:

  • For employed applicants, two valid IDs
  • For beneficiaries, two valid IDs, proof of billing, and proof of received remittance
  • For self-employed individuals, two valid IDs, proof of billing, proof of income, and DTI or mayor’s permit

Once your documents are ready, show the Agreement Number to the AEON Sales Promoter. Thereafter, you will receive a one-time password, which you will show to the sales agent.

There will also be a face recognition process that you need to complete before you can get your item. After this, you’re all set.

You can also go directly to any Aeon Philippines’ partner merchant. However, you will still be required to download and apply through the app, so it is best to do this beforehand. This will lessen waiting time, too.

Aeon Philippines’ Installment Plan is another alternative to those who don’t have credit card but need to purchase items with a higher price tag. Still, take note that Aeon will only work with its partner merchants. Check the partner stores first before you commit to anything.

More importantly, borrow wisely and responsibly!

NPC Reminds Online Lenders On Use Of Customers’ Personal Information

Online lenders are popping here and there for a reason – it helps bridge the financial gap and give access to thousands of unbanked Filipinos. Finally and even without a savings account or a credit card, you can now apply for a loan to finance your needs. Application is easier, too, because you simply have to download the lender’s app for free.

Similar to banks, applying for an online cash loan requires submission of your personal information. This includes address, current employment, monthly income, and even references. Online lenders need these information so they can properly evaluate if you are qualified.

Here’s the thing: there are lenders that use personal information to harass customers. In fact, the National Privacy Commission or NPC received numerous complaints about how online lenders use the submitted information to harass and publicly shame those who were unable to pay their loans on time. NPC was able and still acting on it, closing 26 online lending companies as of this writing. Since there are still lenders who continuously harass their customers, the agency issued NPC Circular No. 20-01, which serves as a guideline on how to process personal data during loan transactions.

What’s written in the said circular? 

The said circular was issued for a reason: online lending privacy rules must be tightened. 

Here’s a simplified version of the circular:

  • Online lenders must follow rules in relation to “Know Your Customer” or KYC policy when collecting information.
  • Collection of information must be limited to determining the borrower’s credit worthiness, fraud prevention, and for purposes of collecting payments. As soon as these purposes are achieved, the online app must prompt the borrower to disallow or turn off the said permissions.
  • Entities that engage in collection of personal data information for purposes of granting loan facilities must ensure protection of these information using organization, physical, and technical security measures. In other words, personal data must be protected against third-party entities, hacking, and other activities that could compromise the information shared by the customer.
  • Borrowers must be informed of the purpose of collecting personal data. It should be used strictly for evaluation and processing of loan. If information will be used other than for loan processing, then the borrower must be informed first.
  • Online lenders are prohibited from requiring unnecessary permission involving sensitive information.
  • Submission of photo or selfie is part of the application process because of the KYC. Once the photo is taken, the app must turn off permission to access the camera by default. If this cannot be done automatically, then at least prompt the borrower through pop-up notification that they can turn of the permission.
  • Photo of the borrower must NOT be used to harass or publicly shame the person.
  • Copying phone contacts and email list, and harvesting of social media accounts are strictly prohibited and must never be used to publicly shame the borrower.
  • Lenders must provide a separate interface where borrowers can provide character references or co-maker. Consequently, online lenders must inform the character reference about the purpose of the call and how the contact details were gathered.
  • There must be an option for a person to be removed as a character reference.
  • Pursuant to SEC Memorandum Circular No. 18, series of 2019, online lenders are prohibited from using personal data to engage in unfair collection practices. Unfair collection practices include but not limited to use or threat to use violence, using obscene or insulting language against the borrower, publication of names and other personal information of the borrower in case of non-payment, and using deceptive means to collect or attempt to collect loan payment. You can learn more about the said circular here.

Simply put, online lenders CANNOT publicly shame, insult, distribute personal details, or harass a borrower due to non-payment of loan obligations. In return, borrowers must be financially responsible to pay off existing loans.

Keep in mind that online cash loans are often unsecured, which means there is no security to guarantee the money you borrowed. As a borrower, you are expected to pay off your financial obligations on time and in full. Otherwise, it could adversely affect your credit standing, too.

Grocery Now, Pay Later With Jungle

We’re already seven months (and counting) into this pandemic. How are you doing so far?

The Covid-19 pandemic took a toll in many of us, especially when it comes to financial aspect. Thousands lost their jobs and many are struggling on how to get by everyday. Unfortunately, bills won’t stop coming and expenses such as grocery will keep knocking at your door. After all, we need food, right?

What if we tell you that there is a service that lets you borrow money for groceries and then pay them on installment basis.Believe it or not, this exists and it goes by the name Jungle. 

Who is Jungle? 

Jungle is a Buy Now, Pay Later app that lets you buy products or avail of a service and then pay on fixed monthly installments. The good thing about this is that credit card or making downpayment are NOT needed to enjoy this service.

At present and as part of their Covid-19 initiative, the company is offering Grocery Now, Pay Later service in the form of Puregold e-vouchers. Aside from this service, Jungle also offers a revolving credit line. This means instead of one-time borrowing, you can borrow multiple times as long as it is within the limits of your credit line.

It is registered under Jungle Lending Inc. with the Securities and Exchange Commission.

For purposes of this post, only the Grocery Now, Pay Later feature will be discussed.  

Features of Grocery Now, Pay Later

  • Interest rate at 3.5 percent or about P315 for three months. However, this may still be subject to change.
  • It is a grocery loan and NOT a cash loan. This means if approved, you can only use the amount to pay for groceries.
  • The e-voucher can be used in all Puregold and Puregold Jr. branches nationwide.
  • The loan is payable within three months in three equal installments.

How to Apply For Jungle’s Grocery Now, Pay Later

Step 1: Download the app. 

The Jungle – Buy Now, Pay Later app is available in App Store (for iPhone users) and Google Play Store (for Android users). This app is also for free.

Step 2: Registration 

Launch the app after download. Then, you will be asked to register using your Facebook login.

Thereafter, input a four-digit PIN for security.

Step 3: Information

To get credit, you will be asked to provide necessary information such as address, current employment including company and job title, and gross monthly income among others.

You will also be asked to upload documents including government-issued ID, latest payslip, and a copy of lates utility bill showing your address.

Once you completed the information, you can now request for credit.

Step 4: Loan Processing

Jungle will now evaluate your application. If approved, then you will receive a SMS within 24 hours. You will also be required to check your email address for further instructions, including how to claim your e-voucher.

You can now use the e-voucher in any Puregold branches for your grocery.

Tips To Remember When Applying With Jungle 

  • Facebook account is a must.
  • Make sure you have TIN and SSS numbers. These are needed to make sure that Jungle can effectively conduct background and credit check. Without these two, your loan application will not be processed.
  • Make sure you provide complete information. This is also Jungle’s way of verifying your identity as a borrower.
  • Upload complete documents to support your loan application. They need to see that you are capable of paying your loan.
  • Keep your phone ready. Jungle will call to verify information or ask for supporting documents. If you missed their call, then it could affect your loan application, too.
  • Be honest. There’s no point of exaggerating your information since Jungle can check whether the information you provided is truthful or not. Plus, it could adversely affect your loan application, too.

Take note that this service is only temporary. We are not sure until when Jungle will offer Grocery Now, Pay Later and while you’re at it, give it a try.

7 Borrowing Tips At The Time Of Pandemic

Millions of people around the world were heavily affected by the coronavirus pandemic. In the Philippines, millions of people lost their jobs as companies were forced to either reduce workforce or permanently close their stores to minimize further losses.

Unfortunately, the financial aid from the government is not enough to sustain you and your family for the next six months.

What do you do? Well, there is a tendency to borrow money, especially when you need it immediately. Since friends and family are out of the option because they need money as well, you turn to online cash lenders to help you in times of need.

Before you hit the Apply button, here are some of the tips and things you need to remember:

Tip No. 1: Do your research. 

The truth is there are more than a dozen of online cash lenders in the market. There’s Tala Philippines, Loan Ranger, BillEase, Cashalo, and the list goes on. However, each lender offers something different in the market.

That being said, make sure to explore your options first. Interest rate, loan amount, loan term, and penalty fees differ per lender, so make sure you check on these factors.

Tip No. 2: Know thy lender. 

Now that you know your options, it’s time to get to know the lenders a little bit better.

Online Cash Loans also look into different online cash lenders, including reviews from customers. Simply type the name of your preferred lender on the Search bar. Or you can also check their website and social media pages. This will give you an idea on what type of lender your preferred company is and help you decide whether or not they can be helpful.

Tip No. 3: Stick to the amount you need. 

It’s tempting to borrow the maximum amount especially during this time of pandemic. You will need all the funds you could get in order to survive.

Still, keep in mind that this is loan and there is an interest fee you have to pay on top of the borrowed amount. If you are unable to pay, then you will have to worry about penalty fee as well, which is usually computed per day of delay.

Therefore, only borrow what you need. This way, you won’t end up in debt, which could be a bigger problem.

Tip No. 4: Focus on the essentials. 

Now that your loan is approved, don’t use it for things that are unnecessary. Buy what you need or better yet, grow your money. Use it to start a small business or consider investing it in stocks. It’s a good time to buy now since stock prices are more affordable compared to last year.

Tip No. 5: Always use the loan calculator. 

Online cash lenders have loan calculators in their website or app. Take advantage of this. This will give you an idea on how much you can pay every month, interest included, depending on your chosen loan term.

Tip No. 6: Prepare your documents. 

Online cash lenders are more lenient compared to banks. Still, this doesn’t mean that you won’t submit any proof of your identity or capacity to pay.

Before you hit the Apply button, make sure you have the needed documents such as government-issued ID, proof of billing (to verify your address), and payslip (some require, some don’t).

Tip No. 7: Avoid loan sharks, at all cost. 

No matter how tempting, avoid borrowing from loan sharks (popularly known as 5-6). They prey more on those vulnerable, which is why you need to keep your guard up. If you’re not careful, you’ll end up swimming in debt more because of sky-high interest, which is not ideal at a situation like this.

It’s okay to borrow as long as you use it wisely. At this point, focus on what you and your family need first and your wants must come in later.

6 Things To Remember Before You Apply For A Lazada Loan

Back then, shopping was only for those who can afford it. If you’re not comfortable bringing cold cash with you, then you can always use a credit card to pay for your purchases. Convenient, isn’t it?

Thankfully, fin-tech companies entered the market and changed the game. Fin-tech companies became a bridge for many unbanked Filipinos who don’t have access to products and services offered by banks. In fact, even without a credit card, you can now pay for your items on installment basis.

If you’re shopping in Lazada, then you’ll be happy to know that the company partnered with several fin-tech companies that allows you to shop now and pay later for your purchases.

Still, don’t get too excited. Even if shopping is made easier and more convenient, this doesn’t mean you can apply for a Lazada loan anytime.

Here are things you need to remember to make sure that you won’t swim in debt:

Tip No. 1: Buy Only What You Need

During this challenging time, it is advisable that you only stick to the essentials. Lazada Loans won’t limit you as to what you can buy, but do you really need those kitchen containers and baking equipment when you already have tons?

Therefore, be mindful of what to buy. Buy only what you really need instead of satisfying your craving for something new.

Tip No. 2: Know Your Options

As of this writing, Lazada Loans partnered with eight merchants, all offering competitive and reasonable products for Filipinos.

Before you say yes to one, make sure you explored the other seven as well. Not all merchants will offer lower interest rate or longer term. Some merchants will only limit you to P10,000 while there others who could let you borrow as much P30,000.

Check out what each company can offer to help you determine the best partner for you. You can learn more about these merchants here.

Tip No. 3: Longer Is Not Always Better

At least when it comes to loan term. Loans payable in less than a month have minimal fee, although this could be heavy on the pocket. On the other hand, aiming for the maximum loan term would mean paying a recurring interest every month, which could also be heavy on the pocket.

Lazada partner merchants have built-in calculators in their website, which you can use to give you an idea on how much you can pay given a certain amount and loan term.

Tip No. 4: Take Note Of Your Loan Details 

This is important. Lazada Loan merchants will send a copy of the Loan Contract, which indicates important details such as term, due date, amount due, and schedule of payment among others.

Keep a copy of this loan contract and take note of the details, particularly the schedule of payment.

Merchants take payment behavior seriously. Any delay in payment could negatively affect your standing and you might have a hard time applying for another loan.

Tip No. 5: Take One Loan At A Time 

This is also important. Lazada won’t stop you from borrowing from various merchants to finance your shopping needs. Still, at the end of the day, can you pay for all of those loans come due date?

That being said, take one loan at a time. Stick to one lender first and then apply to another lender AFTER you pay the earlier loan. This will make it easier for you to manage your loans and prevent you from drowning from debt.

Tip No. 6: Always Pay On Time 

This is a must. Borrowing money means you need to pay your lender at a given time. Make sure to pay them exactly and accordingly. Any delay will not only incur you additional interest fee but also penalty fee, which is computer per day of delay from the scheduled payment.

For instance, your due date is on September 1 and you were able to pay your loan on September 10. You will pay an additional interest and penalty for 10 days. You don’t want this to happen.

Lazada Loans offer ease and convenience in shopping. Still, don’t get too excited. Take note of these tips to ensure that your financial standing remains positive.

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