No one of us can be completely sure that tomorrow, the next week or the next month everything will be alright. Different situation happens and many of them don’t depend on us. These situations may be good and bad. You may need urgent money for the new car or vacation as well as you may need it for the unexpected treatment or car repair. Regardless of the situation that occurs unexpectedly, all these cases have one in common – you need to borrow money now. Of course first thought that occurs in such cases is that you can borrow the necessary money amount at
- your good friends,
- or to ask for the advance payment at work.
These variants seem simple but different situation occurs and these people can have their own financial problems or just can simply refuse you in it for unknown reasons. So, what to do in such case? You need money and moreover, you need to borrow money fast, because you need it now. One more way is to take a fast loan.
Credit at bank
Nowadays most of the population of all countries, including Philippines, is facing with the necessity to take a loan in bank. Every year more and more people want to solve their financial problems quickly and efficiently, without delaying the necessary amount for years and permanently asking themselves “where can I borrow money?”.
A few years ago, the procedure of taking a loan in bank could last for days, but because of the rapidly growing competition between banks, the conditions became easier to attract customers and the procedure went much faster. Today Filipinos can take a loan using offers from Philippine reliable banks such as:
- Banco De Oro
- Bank of the Philippine Islands
- EastWest Bank
- Philippine National Bank
- RCBC myWallet
- Security Bank
- Land Bank
Each of these banks is a reliable lender and offer credits with profitable conditions, saving you from problem where to loan money securely.
Pros and cons of bank loans
Let’s start from the advantages of a bank loans in Philippines. Firstly, the main advantage of taking credit is getting money when you need it. But many people used to wait for a bonus or higher salary, or even they saved money to buy some big purchase for a long period, and then they were horrified to find that there was still not enough money, since no one had canceled inflation. Secondly, when paying the credit, family budget doesn’t suffer a lot, because it is much easier to pay small money amounts for several months than to “say goodbye” to a huge amount of money in a single moment. A person who has taken a credit, became more self-disciplined and tries to remember the time when it is necessary to make a regular payment of the loan. And recently it was found out that the person who took the loan, tries to earn even more, thus, stimulating his efficiency.
Moreover, there is an excellent opportunity to save on the interest of the loan – you only need to meet the grace period and return it to the bank before this period finishes. Each bank offers its own grace periods, but not more than 60 days. Please also note that the grace period extends only to non-cash payment by credit funds, when withdrawing cash, it does not work.
But people who decided that making a bank loan is the best solution of the problem where to borrow money fast should be ready that there are some cons of such credit too.
Firstly, when making a loan, there is always overpayment – it is necessary to pay for the use of other people’s funds, and the bank is not a charitable organization. And if you remember about inflation, then, of course, it is often more profitable to buy now, even with a small overpayment. Secondly, if the borrower allows a delay of the loan repayment, the bank punishes him, charging penalties and fines. Therefore, it is better to try to make regular payments and not allow delinquencies, otherwise the loan will be much more expensive than you initially expected. Third, the emergence of unforeseen circumstances. The bank will not be interested in the fact that you lost your earnings or were sick and lost your ability to work. Banks often try to help their customers and provide them with a deferred payment, but in some cases it does not help. Then the borrower has to solve the case on an official basis or to lose the property provided as collateral.
What if I need money right now?
But what if you need money right now and can’t wait until bank make a decision about your credit? Nowadays there are organizations in Philippines that offer you borrow cash or receive money on your bank card urgently for 15 minutes. Such loans are issued without any collaterals, without a certificates of income, bank guarantees and intermediaries. Binixo company is an organization which gives you an opportunity to get your money in the shortest terms and without a pile of necessary documents. You need your passport and TIN (in some cases). You can go to the office of our organization or apply for a loan online. If you are still thinking “where can I borrow money fast?” the Binixo is simplest way to get a loan in Philippines today. We don’t care about your purposes, the one thing that is important for us is your comfort and happiness. Our company can help you in difficult situations and make your life much easier. With such opportunity the urgent need of money is not a problem nowadays. Trust us and we do our best to help you.