Wherever you go in the Philippines, there are hundreds of credit lenders who boast their offers. But, there are lots of roguish websites that only pretend to issue loans. When Binixo was introduced to the market, it established its excellent reputation and affordability in all the types of financial help. Binixo does not only monitor the market to provide its clients with the best solutions but helps them to compare the fees and rates each creditor offers. If an applicant seeks the ways to apply for a loan, it is high time for Binixo to show the variants.
How Does It Work?
Usually, Filipino creditors have the common procedure of loan application. And, most importantly some services make it simple by launching mobile applications where it can be done in a few seconds. Let’s overview it more in detail. How to start?
- Select the loan request along with the due date. It means that an applicant should determine how much he wants to borrow and when to repay. The amounts again differ depending on the creditors but the most common limit is 160,000 PHP. Once adjusting the slider of the calculating tool, there comes a fixed amount and calculated days to make a repayment.
- Fill out the application form. This form leaves an empty place for indicating name, surname, email, and a mobile number. Also, Binixo may ask for extra documentation to verify the identity. Beware, it is illegal to indicate the personal information of the friends or relatives, even on the behalf of them. It concerns even mobile number. In the events when a seeker does not have the one, to proceed with filling out the form will be impossible.
- Choose one creditor. There will be a selection of creditors that match the criteria of a client. Sometimes, a client will be redirected to the lender’s website to confirm the data. Also, some services may demand extra documentation such as proof of income or payslip of the last month.
- Wait for the approval of the request. During the expectation of confirmation, a client may be called to verify the data once again. But, only in the events, when creditor hesitates about its accuracy. Usually, the approval takes the 1-day maximum.
- Get approval. Once the creditor approves the request, a client receives a confirmation notification on the email.
- Receive the requested loan. Once the loan is confirmed, there is an SMS from the creditor on the mobile number mentioned in the form.
Keep in mind, some online services may charge extra fees, for example for initiation or account service. Binixo, in turn, will guarantee to inform any client about any potential charges.