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6 Reasons Why Flex Loan is Our Best Personal Loan Yet

Mon, 11/14/2022 - 17:40

It’s no secret that loans can be intimidating, especially here in the Philippines where less than 50% are financially included according to the Bangko Sentral ng Pilipinas (BSP).


The fear of loans has gotten so bad that there have been urban legend-style myths going around for years (most of which we’ve debunked, btw). There’s the stress of repayments, the needlessly complicated processes, and the long, long wait for that sweet taste of approval.


We know those fears all too well, and we can’t just sit around while countless Filipinos miss out on getting the benefits of personal loans. That’s why we’ve concocted Tonik’s best personal loan yet – Flex Loan!


Understandably, you’ll need more convincing than just that “best personal loan” claim for you to apply. So, before we begin this neobanking romance, take the time to read these 6 reasons why you should get a Flex Loan!



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1. Super-Quick Approval for Loans – As Fast As 1 Banking Day!

Here in the Philippines, even the best personal loans from traditional banks can take around 5-36 banking days for approval. That doesn’t even include the additional 1-2 banking days you have to wait for your loan disbursement.


That’s a big problem if you’re counting on that loan to pay off something urgent, like medical expenses or your rent. Add to that the pain of having to secure approval for leave just to line up inside a bank branch to complete your requirements.


That’s why we’ve made Flex Loan’s entire process – from application, to approval, to disbursement – possible in as fast as 1 banking day. Yup, you read that correctly – just 1!


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2. Super Low Interest Rate

Getting approved for a loan is one thing, but paying it back in the coming months can be another headache in itself. In case you didn’t know, and this is your first time applying for a loan, you need to factor in the loan interest rate before you commit.


Simply put, a loan interest rate is the amount that you have to pay monthly on top of the amount that you borrowed from the lender. It’s how lenders make a profit.


Interest rates can vary due to the type of loan that you’re getting, whether it be mortgage loans or car loans. The good thing about Flex Loan is no matter what it is that you’re going to use it on, the interest rate stays the same at 2.99% per month or 35.88% APR!


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3. Hardly Any Effort to Apply

Waiting in line is a total drag. It disrupts the flow of your day and can take up so much of your precious time. Not to mention the fact that you may have to stand or sit in uncomfortable waiting areas for hours on end.


That’s not the case for Flex Loan though. Since we’re a digital-only bank, you can apply for a Flex Loan in the safety and comfort of your home through the Tonik App.


You can apply with ease anywhere and anytime you wish. Still in your pajamas on a lazy Sunday morning with that special someone? No problem! You can stay cozy and finish the application process all before breakfast.


Out at the beach with friends and family? Just make sure you have stable internet and a well-lit place nearby for the facial recognition scan.


We don’t even ask for a mountain of documents as your requirements. All you need is 1 valid ID, 1 proof of income, and 1 current bank statement, and you’re already just a few clicks away to start flexing. 


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4. A Loan Amount You Can Flex

We didn’t call it “Flex Loan” for nothing. You’ll certainly have a lot to flex with a loan amount between Php 20,000 to Php 250,000.


Plus, you can use your loan for a wide variety of needs including home renovation, medical expenses, education, and even for your revenge travel expenses! 


Just take note, though, that not all purposes are applicable for a Flex Loan. To make sure it’s the best personal loan for you, learn more on our Flex Loan page.


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5. Safe and Secure

ICYMI, we are one of the first digital-only banks to get a banking license from the Bangko Sentral ng Pilipinas (BSP). This allows us to provide the security and safety that traditional banks offer, paired with the convenience of a digital bank.


If our being digital-only is giving you cold feet, rest assured that we and our globally renowned partners do all it takes to protect your money and transactions.


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6. Say Goodbye to Hidden Fees

Now, you must be thinking, “Flex Loan is fast, easy, safe, has a high loan amount, and a low interest rate. What’s the catch?”


Well, here’s the thing. There isn’t any! Unlike many traditional banks that sneak in hidden fees when you’re not looking, the Flex Loan is completely upfront about what you need to pay for.


Aside from the Php 1,000 upfront fee, there’s a Php 500 fee that we may need to charge for late repayments. Just pay back your loan on time, and you’ll have nothing to worry about!


Ready to flex with our best personal loan yet? Then fire up the Tonik App and apply for a Flex Loan or check out our other products like Quick Loan today!


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