Imagine this: you need a quick cash to pay for your child’s tuition fee or your mother’s medical bills. Unfortunately, banks and other lending companies require you to submit documents and make you wait for days before cash is credited to your account – and you’re not even sure of approval. You spent days borrowing money from your relatives while waiting for the bank’s call.
Thankfully, you discovered Tala. Tala Philippines is an application that conveniently offers loan with just a few clicks. In fact, all you need is your smartphone and you can apply for credit using the app. This is in line with its primary aim of bringing financial choice, access, and control to people everywhere.
Here’s how to apply for a loan using the Tala Philippines app:
Download the Tala Philippines mobile app and then register. You can also get it here.
Create an account with Coins.ph. This is where the proceeds of the loan will be credited. Make sure that the email address and mobile number you used to register for Tala and Coins are the same.
Open the Tala app on your mobile device and click “Apply Now.”
Fill in the details and wait for loan approval. Make sure to take note of the repayment schedule. Paying your loan in time allows you to borrow up to P10,000.00
Assign the method of Cash Out. You can cash-out your money through remittance centers like Cebuana, MLhuillier, and LBC Pera Padala, Coins.ph, or bank deposit.
NOTE: Make sure you will choose the mode where you want the amount to be transferred or credited.
UPDATE: As per Tala Philippines Facebook page, here is the interest rate:
11% for payment on a weekly basis within 21 days or 15% for payment in full within 30 days.
UPDATE: In case you are unable to pay on time:
8% penalty fee, which will be imposed 7 days after the intended due date.
UPDATE: As per Tala Philippines Facebook page, below is the sender details if you chose remittance centers like Palawan Express as pay-out method:
Sender’s Name: Christian Ramos Roxas
Sender’s Number: 0905-5111619
Easy, don’t you think? What are you waiting for? Download now and be one of the thousands of Filipinos enjoying the app with peace of mind.
To Repay Your Loan from Tala Philippines:
1. In the Tala app home page, click on the “Make A Payment” button
2. Enter “AMOUNT” then click submit
3. You will receive an SMS from NXSMS/COINS.ph for the payment request link and a separate reference number for 7-Eleven use ONLY
4. Click the link https://.. then choose your preferred payment method: Cebuana Lhuillier, M Lhuillier, Coins.ph or 7-Eleven
5. A reference number will be sent to you via email or SMS (VALID ONLY for 8 HOURS upon receipt)
6. Present the reference number to the teller and settle your loan to your preferred payment option.
As soon as the payment is complete, you will receive a notification via SMS and in the Tala app.
Tala Philippines is available in Android devices.
Did you try Tala Lending Philippines? Post a comment to share your experience!