Tonik Loan Review, Tonik Loan App APK Download, How to Apply for Loan, Tonik Loan Customer Care
Tonik Loan Review, App Download, How to Apply
Tonik Digital Bank, Inc., It is arguably the first digital-only bank in Southeast Asia, has made a significant impact since its establishment in the year 2018. After its establishment in the year 2018, it was launched as the first full-service neobank in the Philippines in 2020, Tonik aims to alter dramatic change the way Filipinos access financial services.
One of its notable offerings is the Quick Loan product, catering to the underserved consumer lending market and providing much-needed financial relief in times of unexpected expenses.
So in this comprehensive Tonik loan review, you will have an awareness of Tonik loan users’ reviews, how to apply for a Tonik loan, and how to download the tonik loan app easily.
Tonik Loan Review
Tonik Bank has garnered both positive and negative feedback from its customers. While many appreciate the convenience and efficiency of the Quick Loan service, some borrowers express dissatisfaction with the relatively high-interest rates and fees.
Also, some users have reported that the loan process was not as straightforward as advertised, with requirements similar to those of traditional banks and small lending companies.
However, be sure that Tonik loan has a lot of positive feedback with 4.3 ratings.
Therefore with these reviews, ratings, and certificates received to operate from the Bangko Sentral ng Pilipinas on September 3, 2020.
Tonik Loan Interest Rate
The interest rates associated with Tonik Bank’s Quick Loan are critical factors that borrowers need to consider before applying.
As of the time of writing, Tonik Philippines applies a fixed interest rate of 7% per month, which corresponds to an Annual Percentage Rate (APR) of 84% for standard loans.
For loans with a linked card, the interest rate is 5.416% (APR 65%), which is lower and more favorable for borrowers.
How To Download Tonik Loan App
Before you can access tonik loan, it’s quite essential for you to first download the app.
To do that, head over to the Apple App Store or Google Play Store if you are an Android user.
Once on the app store, search for “Tonik Loan”, once found, tap to download, after downloading, click to install.
After clicking on “Install”, you can go back to your phone and tap to begin the loan application process.
How To Apply For Tonik Loan In 2023
If you reside in Southeast Asia and looking for how to apply for a Tonik loan, this is the right process and guides to follow:
Download the Tonik Quick Loan app from the Google Play Store or Apple App Store
First, on how to apply for tonik loan, you would need to ensure you download the app from the Google Play Store or Apple App Store depending on your phone type.
I don’t need to lay more emphasis on this as you must have learned how to download the tonik loan app above.
Sign Up & Login
Once you have successfully downloaded the app, sign up and login with your original information.
After you have logged in, fill out the loan application form, providing accurate personal information.
Submit a valid ID for verification purposes.
Await approval, which can take just a few minutes.
Once approved, the loan amount will be swiftly deposited into your bank account.
Tonik Loan Customer Care Phone Number, Email Address, Official Website
Do you want to contact the tonik loan customer care service?
If yes, you can get in touch through the following means:
Tonik loan customer care phone number – +63 2 5322 2645
Tonik loan customer care email address – customercare@tonikbank.com
Tonik loan official website – https://tonikbank.com/ .
FAQs On Tonik Loan Review, App Download, How to Apply
Here are some frequently asked questions on Tonik Loan Review, App Download, How to Apply with answers:
Is Tonik loan legit?
Tonik Bank, officially known as Tonik Digital Bank, Inc., is the first digital-only bank in Southeast Asia and the first full-service neobank in the Philippines.
It was incorporated on May 26, 2020, and received a Certificate of Authority to Operate from the Bangko Sentral ng Pilipinas on September 3, 2020.
Tonik Bank is legitimate and operates within the regulatory framework, providing secure and reliable financial services.
How does Tonik Bank’s Quick Loan work?
Tonik Bank’s Quick Loan is a fast and convenient way to access small loans online.
To apply, download the Tonik Quick Loan app, fill out the loan application form, and provide a valid ID.
Once approved, the loan amount will be deposited into your bank account within minutes.
What are the loan amounts and terms available with Tonik Bank?
Borrowers can access loan amounts ranging from P5,000 to P50,000.
The loan terms are flexible, allowing borrowers to choose installment periods of 6, 9, 12, 18, or 24 months.
What are the interest rates for Tonik Bank’s Quick Loan?
The interest rate for Tonik Bank’s Quick Loan is 7% per month, equivalent to an Annual Percentage Rate (APR) of 84% for standard loans.
However, for loans with a linked card, the interest rate is lower at 5.416% (APR 65%).
How can I apply for a loan with Tonik Bank?
To apply for a loan with Tonik Bank, follow these simple steps:
- Download the Tonik Quick Loan app from the Google Play Store or Apple App Store.
- Fill out the loan application form with accurate personal information.
- Submit a valid ID for verification purposes.
- Await approval, which typically takes just a few minutes.
- Once approved, the loan amount will be swiftly deposited into your bank account.
What are the eligibility requirements for Tonik Bank’s Quick Loan?
To qualify for a Quick Loan, applicants must:
- Be between 23 and 58 years old.
- Be currently employed or have a stable source of income.
- Possess a government-issued ID and a Tax Identification Number (TIN).
- Have a valid bank account.
- For loans with a linked card, additional requirements include providing the latest pay slip or full month salary bank statement, having a Tonik PH savings account, and possessing a salary ATM payroll card.
How can I repay the Tonik loan?
Tonik Bank provides various repayment options, including mobile banking, bank deposit, bank transfer, and authorized payment channels.
