Tala Loan Offers Repayment Flexibility – Manila Bulletin

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Tala introduces an evolution of online lending platform microcredit services to Filipino consumers with the revolutionary new loan Tala. (Top) Luigi Jacinto, associate marketing manager of Tala Philippines; and Donald Evangelista, Managing Director of Tala Philippines. (Bottom): Missy Santos, Marketing Manager of Tala Philippines.

Smart debt management is among the top concerns of Filipinos. Many of them have little or no experience with formal credit due to their exclusion from formal financial institutions. These are some of the obstacles that led to the The Philippines is becoming the “most stressed” nation in the Asia-Pacific (APAC) region when it comes to managing household finances.

The New Tala Loan addresses these challenges and shows that managing debt doesn’t have to be difficult, with customizable loans that allow borrowers to pay only for the days they use for as little as ₱5 per day for a loan of ₱1,000. Additionally, customers can choose to repay their loan between 1 and 61 days.

Transparent daily charges allow customers to calculate how much they need to repay and take the worry out of “bill shock”. Borrowers save more by only paying for the days they need. Unlike other lending platforms, Tala allows its clients to repay earlier or later than their original repayment date, giving them the flexibility to align it with their revenue cycles while maximizing budget allocations.

“The new Tala Loan is an evolution of our microcredit services designed to be even more accessible and flexible for a wider variety of lifestyles,” said Tala Country Manager Donald Evangelista. “We’ve made loans more accessible because customers can now have peace of mind when doing what they want, making them more productive and happier with their lives.”

Evangelista added that since the Philippines is its biggest market in Asia, Tala first introduced the new Tala loan to Filipino consumers.

In the past, the lowest fee for a ₱1,000 Tala loan was ₱100 for a minimum period of 20 days. With the new Tala loan, customers could choose an easy-to-pay repayment option of just ₱5 per day and pay as early as 1 day after getting the loan. Greater flexibility and cost savings are even more evident for higher loan amounts in this pay-as-you-go option. For example, a P15,000 loan will incur repayment charges as low as P75 if settled after 1 day, unlike the expectation of what was previously the first 20-day schedule with a repayment charge of 1,500 p.

As always, Tala offers full transparency on loan cost and loan terms. Clients can borrow with confidence with Tala, knowing that they will receive the full loan amount and will not be subject to hidden fees or surprises.

With borrowers having more opportunities to navigate their financial journey, Tala fulfills its global mission to provide financial access and credit growth to consumers invisible to credit here in the Philippines.

Evangelista further described Tala’s foray into the Philippine market: “We started in the Philippines in 2017. We are very happy to have made this choice and hope that more Filipinos can fulfill their dreams with Tala. We are here for the long term.

As the first major evolution of Tala’s trusted digital microcredit services, the new Tala Loan builds on the global company’s strengths in proprietary technologies, machine algorithms and the ability to understand customer needs. clients. Tala will continue to design technology-enabled financial services that empower the underserved to manage their financial lives with confidence, with additional new products coming to market over the next year.

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