May 24 2022
What are the requirements to apply for a loan
Best online loans
On many occasions problems arise without warning, being necessary to have a reserve of money to solve a problem and for this type of case there are various companies in Philippines that offer the legit online service. That said, we will present several advices so that you can be granted a personal online loan through the internet or an easily approved credit card with the amount of money you want.
The offer of online financing that exists is very diverse. In this way, in Moneytochka you will find everything from loans for mobile financing. Regardless of the reason for the credit, you will be able to opt for the safest lenders and get the money you need at the time of a click.
The idea of these associations is to obtain financing in the shortest possible time, either in cash or directly in the checking account, without having to go through thousands of bureaucratic procedures.
In this way, it is not necessary to leave the home or stand in long lines to find a specific amount and get a loan.
You will be surprised at the number of institutions that are responsible for providing the first loan for free, with 0% commission. There are also entities that offer loans without the need to be on payroll and even express loans that work with just one click.
That is why we want to teach you how to use some basic tricks that will be very useful to obtain the money at the moment, it usually takes between 5 to 15 minutes to analyze the profile and deposit the cash.
Advice for getting a loan online
Avoid being denied your personal loan application with the 6 best tricks:
- Request the amount that you can pay with your regular income.
- If you have pending debts, look for a specific loan for clients with bad credit history.
- Read the conditions carefully and look at the small print of the contract.
- Always provide your real data.
- Look at the APR and all the commissions.
- Compare different loan offers. The conditions usually vary greatly depending on the entity.
In the next section We will see them in depth one by one, so if you want to know more about these tips to get a loan... keep reading!
Tricks for them to give you a loan
Next, we will explain in detail the fundamental tricks that you will need to take into account when acquiring easy credit. In this way, you will be able to optimize the time of research and selection of the capital you want without becoming a client with delays to process the documentation as soon as possible.
Don't lose your cool, all online institutions go through an evaluation of both documents and personal data before they grant you a loan. Let's quietly see each of the tips when applying for a loan.
Always ask for as much as you can pay
One of the tricks to get a loan is that, although it seems obvious, it is important to know for sure that you cannot ask for more than you could pay, it is not the same to ask a credit agency for a loan 1000 pesos personal than 2000 PhP when your salary is an average of 1,500 pesos just because you want to take advantage of the rest of the money to buy other items of interest.
All online agencies have requirements that adjust to the profile of each of the clients with the intention of taking care of their finances so that they can assume the debt for a certain period.
If you have bad credit score and look for a suitable loan
The company that granted you the credit, before it includes you in a list of bad credit score, the main file in Philippines, has the task of notifying you 30 days before that you will enter the group of insolvent so that You can pay the full amount of the loan.
However, today it is possible to find an online loan with bad credit history, that is, having debts, but the commissions and terms are often not so favorable, so it is advisable to have a clean history.
Read carefully the conditions of the loan
You should know how to use this next trick to be granted a loan, because many times in the desperation or speed that you carry when you carry out a procedure, you can ignore the small letters of the contract where they charge other types of rates of interest, much higher than those mentioned.
You must be attentive to what the financial adviser says during the negotiation, since it is important that everything is kept in the document from the beginning, without alterations, in order to be able to assume responsibility with absolute peace of mind.
Likewise, it refuses entities that request a payment before granting the financing. Keep this in mind even if you find yourself in a delinquent situation, since loans for defaulters without paying in advance exist and getting them is available to everyone.
Always offer real data
In the financial sector it is not advisable to give wrong information and false data, as this can harm your profile as a client, because the agencies will always seek to corroborate the veracity in their internal database.
In addition to being considered a fraudulent action, it could also lead to legal problems unnecessarily, but we all know that we can make mistakes, so in view of this, it is possible to solve things in an easy and uncomplicated way directly with the advisor.
Look at the APR
When you ask for a loan or credit, the APR (Annual Equivalent Rate) is generally calculated according to the real rate that you will have to pay per year, however, there are clauses that can increase the rate pre-established, such as: insurance, cards, extra commissions, among other financial products.
For this reason, it is necessary to be aware of all the costs that are included in the total payment of the borrowed capital.
Compare different personal loans
At the Moneytochka.com platform there are lists in our rankings where you can compare different offers to get the best personal loan, the objective is to carry out a deep search in advance to find what you really need and can fulfill.
In the same way, all the details can be obtained among the loan comparators in detail, from percentages, repayment terms, user opinions, minimum and maximum amount for being the first time.
It is also possible to select an amount of money by filling out a digital form with personal data to get options that are closest to your needs.
At what time can we request a personal loan?
Anyone can make an application to request a personal loan, and they are not always usually for emergencies. Sometimes you can ask for credit in order to overcome setbacks.
Some of these reasons why you can request a personal loan are the following:
- Purchase of goods.
- Rent payment.
- Payment of study fees, being a specialization, postgraduate or course abroad.
- Home remodeling or repair.
- Car repair in the workshop.
- Payment of public services.
As we can see, there is no single reason why someone can take the step to apply for a loan. However, we recommend whatever the reason, to take into account the best tricks so that they grant you the loan and with it, achieve your purpose in the shortest possible time.
Types of personal loans that exist in the market
Now that you know the tricks to get a loan, you should keep in mind that many financial institutions offer their new customers the convenience of requesting free capital for the first time, others only accept a official document or passport if you are a foreigner without charging commissions for extra charges.
Here I will show you some types of personal loans that exist in the market and could help you during any eventuality.
- Loans with bad credit history
- Interest-free loans
- Loans with DNI
- Loans without payroll
- Loans for young people
What are the requirements to apply for a loan?
As we mentioned in the previous point, there are companies and creditors that grant a personal loan without much paperwork or restrictions, either for first clients, poor payers, minors and even the unemployed.
Everything will also depend on the amount and type of loan.
But, generally, for a company to be get a guarantor that adapts to the needs of the user's profile, it must follow a series of requirements, although this is not always the case.
Some of them are the following:
- It is essential to be 18 years old
- Possess DNI / NIE
- Have a private bank account
- Document or endorsement, if necessary
- Have an email
- Reside in Philippines
- Submit utility bills
- It is advisable not to be in any record of delinquency
What to do if you have never had a credit and they do not grant you loans?
Although it is ironic, it happens that many people when they want to make a credit application online or at a bank, it is not granted because they often do not have a history, much less credit problems.
The reason is simple: companies prefer clients with a good reputation, that is, those who have responsibly paid the installments of the financial product. This is a way that industries apply as a defense to be more comfortable and avoid inconveniences with future clients.
In other cases, creditors always require that they have at least one credit card to spend money and be able to create a stable profile with the intention of generating trust and thus the financial institutions grant you the loans.
However, the best of all is that with technological inclusion and new forms of renegotiation , investors are found who accept new clients with 0% interest for the first time, that is, free.
Why choose a private lender?
In just one click , private lenders can, through the internet, communicate with different clients who make requests far from bureaucratic and tedious processes, ask for more detailed information with immediate responses to your personal loan application.
By means of a digital calculator it is possible to make a virtual simulation of what could be paid when requesting X amount of money with all the corresponding rates.
Likewise, it is common to have a bilateral contract where the person to assume the risk usually asks questions such as what he needs it for and in what time he can pay it, asking for a guarantee or guarantee.
The advantage is that for this type of service, financial institutions ask for few requirements, being more feasible when choosing with great conditions to access financing and to grant you the personal loan.
Can I apply for personal loans if I am unemployed?
On many occasions they ask as a mandatory requirement that the person have a job so that they can justify a reliable source of economic income every month, in this way, they will be able to verify that they are going to pay the monetary fund.
However, you can get financial entities that accept the status on the condition that you have a third person with their own property or that they can at least guarantee the full refund of the money, in case things get complicated.
It looks scary, right? Anyone who goes from being a worker to being unemployed can become desperate in a matter of seconds, but we do not want that for you, so we are going to clarify how to have that guarantee and request a loan.
The first thing you have to know is that if you do not have a guarantor, it is possible to get a loan having an unemployment benefit, unemployment benefit and even a personal guarantee, such as: car, jewelry, land in just a few hours. The only thing you have to take care of are the possible risks and use the personal loan responsibly.
Then the agencies will determine the amount of money and the term in which it will be granted to prevent financial imbalances and make things worse.
We advise you to review the different loan offers without payroll that can be granted to you if you end up without a job.
With these key data we hope to have solved all your concerns, now it will certainly be easier for you to be granted the online personal loan that best suits your financial profile without the boring paperwork using the best tricks.