Cash Loans in Antipolo: Everything You Should Know
If you are a Filipino citizen, you are 18-65 y.o., have at least one ID and you are employed, getting a loan in Antipolo is not a hard challenge for you. If at least one of the listed criteria is not met, it is harder for you but do not lose hope.
How to Get a Loan From a Bank or Financial Institution in Antipolo?
We have compiled instructions on the selection of online loans for purchases, in which they are arranged in order of increasing cost – from cheap to expensive:
- Look for installments. This is a free (or almost free) loan. It is more comfortable to buy any product with it, whether it is an apartment, car or household appliances. Some Filipino banks offer the service “Payment by installments”, with which the price tag can be divided into 24 equal payments. Other banks give installments up to 12 months for any purchases by credit card. In general, there are options.
- Can’t buy by installments? Try to get by with the credit limit on the card. Such a loan can also be free, but not for long. It makes sense only when you are sure that you can return the money without leaving the grace period. Most often this is a month, sometimes two. If in doubt, do not take it. Otherwise, you overpay. As soon as the period ends, the bank will certainly take its considerable interest.
- If the first two options do not fit, try to get a consumer loan. Banks willingly give them out to buy equipment, electronics. Such a loan is initially issued at interest, but it is the cheapest of “paid” loans.
- Next come cash loans in an hour. Banks give them even more willingly, but they are also more expensive. Overpayment will be greater, but when, for example, a refrigerator breaks down in a 40-degree heat, and no options worked above, then you do not have to choose.
- Online credit on the card. This is an extreme case. They should be taken in the most urgent situations, because they can cost up to 720% per annum (i.e. 2% per day). For each thousand you take per day, you will pay 20 PHP. This is a lot. If you are not sure that you can repay it in a few days, it is better not to get involved. Such loans have only two advantages: the speed of obtaining (up to 15 minutes) and the fact that the first time they can be taken for free. In all other cases, the percentage is “predatory”, not less than 300% per annum. To get an online loan you need to have a bank card to which the loan amount will be transferred.
When You Need to Get a Loan
First decide whether you need it. This is the main question that you need to answer honestly to yourself before you take it. Let’s say you want to buy the latest iPhone on credit. Try to explain to yourself without emotion: why I want to do this. If the fact that “it is cool” is the only reason, it is better to refuse the purchase. This is just a new smartphone. For a while, you can definitely do without it. Another thing is if you find it with a unique discount, which is about to end. Or if suddenly someone close needs medical treatment. There is no longer any thought to take or not.
In addition, you need to really assess your solvency. Compare income with expenses. Payments on the loan should not deprive you of comfort. An acceptable amount of debt is one that can be repaid without denying yourself the usual purchases. If the money that remains after paying utility bills, buying food and the most necessary is not enough for a monthly payment – forget about the loan.