Loans Without Bank Account: How to Get One in the Philippines
- By Moneymax
- February 3, 2021
Do you have a cash emergency? Is taking out a loan your only option? There’s no telling when a financial emergency might pop up. And sometimes, even if you have savings for such instances, it’s still not enough to cover everything. It’s a tough situation to be in, which is why loans without bank account can be very useful, too. Find out your alternative options for obtaining a cash loan without bank account need. And learn why a bank account is often needed in loan applications as well. Table of ContentsWhy Do Lenders Require a Bank Account?Can I Get a Loan Without a Bank Account?Cash Loans Without Bank Account NeededSangla/Pawn LoansCash Loans without Bank Account from Private Lenders5-6 LoansCompare Other Loan Options for Free!Final Thoughts Why Do Lenders Require a Bank Account? Banks and other financial institutions in the Philippines usually ask for a bank account from prospective borrowers. This is because a bank account is your proof to the lenders that you have a regular income. Furthermore, it signifies that you’re less of a credit risk[1] and have the money to repay a loan. It also shows that you’re responsible enough with your personal finances to keep your money in the bank. This is why banks require loan applicants, especially those with unsteady income like freelancers and entrepreneurs, to submit their bank statements. Having a bank account assures lenders of your capacity to repay a loan. In addition, lenders use their borrowers’ bank accounts to transfer their loan proceeds. It’s a faster, simpler, and more secure disbursement process than…
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Moneymax Reviews: Should You Get an RFC Personal Loan?
- By Adji Hendrawan
- November 19, 2020
In this financially challenging time, getting a personal loan is an option for Filipinos with an immediate need for cash but are short of budget. But with the many lenders out there, which one should you borrow from? Ideally, a personal loan provider makes it easy for you to get cash for your urgent financial need, especially if you lack income documents that banks and government lenders require. In this edition of Moneymax Reviews, we’re zooming in on the RFC Personal Loan—an online multi-purpose loan provided by Radiowealth Finance Corporation. Keep reading this RFC personal loan review to find out if this matches your needs best. Table of ContentsRFC Personal Loan Key FeaturesWhy Should I Get an RFC Personal Loan?1. Available for Different Loan Purposes2. Flexible Radiowealth Finance Loan Requirements3. Easy Online Loan Application Process4. Fast Loan Approval5. Easy Ways to Claim Loan Proceeds6. Accessible Loan Repayment Channels7. Ability to Renew RFC Personal LoanRFC Personal Loan AlternativesTala LoanSB Finance Personal LoanGDFI OFW Personal LoanFinal Thoughts RFC Personal Loan Key Features To start with this RFC Personal Loan review, here’s the basic information you should know before borrowing from Radiowealth Finance. Loan amount: Minimum of PHP 10,000 Loan terms: 3 to 12 months Monthly interest rate: 4% Processing fee: 6% Minimal requirements: No collateral, guarantor, and credit card required Why Should I Get an RFC Personal Loan? 1. Available for Different Loan Purposes The RFC multi-purpose loan can be used to cover a variety of needs[1], including the following purposes: Home improvement/renovation/repair costs Tuition and other school expenses Medical bills and other emergency expenses Travel…
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Moneymax Reviews: What to Know About Citi Personal Loan
- By Adji Hendrawan
- November 5, 2020
Here’s another edition of Moneymax Reviews! This time, we take a closer look at one of the better-known bank loans in the Philippines: the Citi personal loan. You might have come across it while you’re searching for options to borrow money online. If you’re considering it, you’ve come to the right Citi personal loan review. You probably have some questions in mind about the Citibank personal loan. Is it good? Is it easy to secure? How does it stack up against other personal loans in the Philippines? This Citi personal loan review will look into these and more. Table of ContentsCiti Personal Loan Key FeaturesWhy Should I Get a Citi Personal Loan?Convenient Online Personal Loan Application24-Hour Personal Loan ApprovalLow Interest RateNo Collateral LoanHigh Loan Amount to Cover Big ExpensesFlexible Payment Terms of Up to 5 YearsCiti Personal Loan AlternativesSB Finance Personal LoanBPI Personal LoanTala Cash LoanFinal Thoughts Citi Personal Loan Key Features Before we dig deeper into this Citi personal loan review, you first have to know if the Citibank personal loan is the right fit for you. Take a look at its features, fees, and charges below: Loan amount: PHP 100,000 to PHP 2 million Loan terms: 1 to 5 years Monthly interest rate: 2.42% Average annual contractual rate: 26.9% Disbursement fee: PHP 1,750 Documentary Stamp Tax (DST): PHP 1.50 per PHP 200 of the loan amount Effective annual interest rate: 32.05% for a loan worth PHP 200,000 at 36 monthly repayments (inclusive of monthly interest charge, disbursement fee, and DST) Monthly late charge: PHP 500 or 6% of…
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How a Personal Loan Can Help Your Financial Goals
- By Moneymax
- January 16, 2015
Tired of borrowing money from friends? Want to give your overworked credit card a break? You might just be the ideal candidate for a personal loan! This convenient service is offered by the most reliable banks in your area and gives you access to extra cash without years and years of debt. With the help of MoneyMax.ph, you can check out all the best deals on personal loans and compare the most affordable rates available. MoneyMax.ph isn’t just good for helping you compare personal loans. Here we’ve got a visual guide for all the different ways you can put a personal loan to good use. [tags]
