Types of Loan That Are Best Suited For Your Needs

Filipinos can’t save enough money for emergency purposes as well as their savings. This is due to the increasing suggested retail price of every item at the grocery store, lucrative electricity bill, and even the water bill.  The different types of loan offered by the money lending company in the Philippines seem to be the only solution that Filipinos can rely on nowadays.

To help the first-timers regarding what loan types you can request from any but trusted money lending company in the Philippines, here’s a 5-minute reading material for you.

Salary Loan

Few days before payday are the most critical ones to every employee; bills are getting in lines at the mailbox.  If you are on a tight budget right now and you can’t make it until payday, you can request a salary loan.

Personal Loan

If your child needs to pay the tuition fee for the upcoming exam week, and the remaining money at your pocket is not enough for it and other expenses like transportation fee and groceries, a personal loan is the most ideal for you.

Meanwhile, if you would like to start a business that offers travel and tours by road, a car loan is also available. You just have to be 21 years of age and must comply with the following requirements:

  • Filipino citizen
  • Government Issued ID
  • Two proof of Billings
  • Bank statement and Mayor’s Permit for self-employed individuals

Money lending company in the Philippines does not only cater to Filipinos residing in the country. Overseas Filipino Workers can now avail of OFW loan. Under the OFW loan, there are different requirements for Land-based and Seafarer. This is ideal for anyone who is in dire need of emergency funds if in case your foreign employer cannot approve your cash advance request for the family in the Philippines.

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