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Tonik Loan Review, App Download, How to Apply.

Tonik Loan Review, App Download, How to Apply.

Tonik Digital Credit, commonly known as Tonik Loan, is a digital lending platform based in the Philippines. The company was founded in 2018 by former executives of Ant Financial, the financial arm of Alibaba Group. The Tonik loan app offers quick and convenient loans to individuals and small businesses through its mobile application. 

Tonik Loan Review, App Download, How to Apply.
Tonik Loan Review, App Download, How to Apply.

The Tonik loan app is owned by Tonik Digital Holdings Corporation, a subsidiary of Tonik Digital Credit. The parent company is headquartered in Singapore and has received funding from several prominent investors, including Gobi Partners, Kickstart Ventures, and SBI Holdings.

Tonik Loan’s mission is to provide affordable and accessible credit to underserved communities in the Philippines. The company uses advanced data analytics and machine learning algorithms to assess borrower’s creditworthiness and provide loans with competitive interest rates.

The Tonik loan app offers a variety of loan products, including personal loans, business loans, and salary loans. Borrowers can apply for loans ranging from PHP 5,000 to PHP 500,000 through the app, and the funds are typically dispersed within 24 hours of approval.

Tonik has received several accolades for its innovative approach to lending. In 2019, the company was named one of the “Top 10 Fintech Startups to Watch” by Fintech News Singapore. In 2020, Tonik Loan was awarded the “Best Digital Lending Platform” at the Philippine Fintech Awards.

Tonik Loan Review 

 

Name of Owner Tonik Digital Bank Inc
Tonik Loan Customers Service Number  +63 2 5322 2645
Tonik Loan Customer Service Email Address  customercare@tonikbank.com
Tonik Loan Philippines Office Address  Unit 605B, 6/F West Wing, The Offices at Estancia, 1605 Meralco Ave, Pasig City
Tonik Loan Singapore Office Address  175A Bencoolen Street, Burlington Square #05-01, Singapore 189650
Tonik loan India Office Address  DLF IT Park, 1/124 Block 10, 6th Floor, DLF IT SEZ, Mount Poonamalee Road, Nandambakkam Post, Manapakkam, Chennai 600 089, India
Official Tonik Quick loan website  https://tonikbank.com/loans
Tonik Quick Loan App Availability  Android and iOS App 
AGE Limit  23 – 58 yrs
Tonik Loan Interest Rates  1.7%.

 

How To Download Tonik Loan App 

Here’s where you can download this convenient and user-friendly app:

1. Google Play Store (for Android users)

  • Open the Google Play Store app on your Android device.
  • Search for “Tonik Loan App” in the search bar.
  • Select the official Tonik Loan App from the list of results.
  • Click “Install” to download and install the app on your device.

2. App Store (for iOS users)

  • Open the App Store app on your iOS device.
  • Search for “Tonik Loan App” in the search bar.
  • Select the official Tonik Loan App from the list of results.
  • Click “Get” to download and install the app on your device.

It’s important to ensure that you’re downloading the official Tonik Loan App to avoid any potential scams or malware. You can verify that you’ve downloaded the correct app by checking that it’s published by Tonik Digital Bank, Inc. And has a blue and green logo with the Tonik branding. 

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How To Create and verify Tonik Loan app Account 

Creating and verifying your Tonik Loan app account is a simple process that can be done in just a few steps. Here’s a guide on how to do it:

  • Download the Tonik Loan app: To start, you need to download the Tonik Loan app from the App Store or Google Play Store. Once you’ve downloaded the app, open it and click “Sign Up” to create a new account.
  • Fill in your bio information: Next, you’ll be asked to provide your personal information, such as your full name, email address, and mobile number. Make sure that the information you provide is correct and up-to-date.
  • Set up your account password: After providing your personal information, you’ll be asked to set up a password for your Tonik Loan app account. Make sure that your password is strong and unique to keep your account secure.
  • Verify your email address and mobile number: To complete the sign-up process, you’ll need to verify your email address and mobile number. Tonik Loan will send you a verification code via email and SMS. Enter the code in the app to confirm your email address and mobile number.
  • Upload required documents for verification: Once you’ve completed the sign-up process, you’ll need to upload some documents for verification. These documents include a valid government-issued ID (such as a driver’s license or passport) and proof of income (such as a recent payslip or bank statement). Make sure that the documents you upload are clear and legible.
  • Wait for verification approval: After uploading your documents, Tonik Loan will review them to verify your identity and income. This process usually takes a few business days. Once your account has been verified, you’ll be able to apply for loans through the Tonik Loan app.

Eligibility Criteria Of Borrowing loan from Tonik Quick loan app.

Tonik Quick Loan App is a digital lending platform based in the Philippines that provides fast and convenient loan solutions to individuals in need of financial assistance. If you’re considering borrowing from Tonik, here are the eligibility criteria you need to meet:

  1. Age Requirement: To be eligible for a loan from Tonik, you must be at least 18 years old. This is to ensure that you have the legal capacity to enter into a loan agreement.
  2. Philippines Citizen: For you to access this loan you must be a citizen of the Philippines.
  3. Employment Status: Tonik requires that you have a stable source of income to repay the loan. You can be employed, self-employed, or a freelancer, but your income must be regular and consistent.
  4. Credit History: While Tonik does not require a perfect credit score, it does consider your credit history when evaluating your loan application. Having a good credit score can increase your chances of approval and may also result in better loan terms.
  5. Government-Issued ID: To apply for a loan with Tonik, you need to provide a government-issued ID such as a driver’s license, passport, or voter’s ID. This is to verify your identity and ensure that you are who you claim to be.
  6. Tonik Bank Account: Tonik requires that you have an active Tonik bank account in your name to receive the loan funds and make repayments. 
  7. Proof of Billing Address: To apply for a loan with Tonik, you need to provide proof of your billing address such as a utility bill or a government-issued document with your address listed on it. This is to ensure that the address provided is accurate and up-to-date.
  8. Maintain Minimum Loan Amount and Repayment Term: The amount you can borrow from Tonik will depend on various factors such as your income, employment status, and credit history. The repayment term will also vary based on the loan amount and your financial situation. Tonik offers flexible repayment terms ranging from 6 months to 36 months to suit your needs.
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How to Apply For a Tonik Quick Loan through Tonik Loan app 

Applying for a quick loan through Tonik’s loan app is a simple and convenient process. Here’s a step-by-step guide on how to apply for a Tonik Quick loan using the Tonik Loan app:

  • Download the Tonik Loan app from the App Store or Google Play Store.
  • Register an account by providing your personal information such as your full name, email address, and mobile number. You’ll also need to create a password for your account.
  • Once you’ve registered, log in to your account using your email address and password.
  • On the app’s homepage, click on the “Apply Now” button located at the bottom of the screen.
  • Select the type of loan you want to apply for, which in this case is a Tonik Quick loan.
  • Input the amount you wish to borrow and the repayment period you prefer. Tonik offers loans ranging from PHP 5,000 to PHP 150,000 with repayment periods of 1  to 36 months.
  • Provide your employment details, including your company name, job position, and monthly income. If you’re self-employed or an entrepreneur, you’ll need to provide your business registration documents and financial statements.
  • Upload a valid government-issued ID and a recent utility bill as proof of address. This is required to verify your identity and residency. Review all the information you’ve provided and make sure everything is accurate and up-to-date. Once you’re satisfied, click on the “Submit” button.
  • Wait for Tonik’s loan assessment team to review your application. This usually takes around 1-2 business days, but in some cases, it may take longer depending on the complexity of your application.
  • If your application is approved, you’ll receive an email or SMS notification from Tonik with instructions on how to receive your loan funds. You can choose to have the funds deposited directly into your bank account or receive them via InstaPay or GCash.
  • Make sure to repay your loan on time to avoid incurring additional charges. You can use the Tonik Loan app to manage your loan account, view your repayment schedule, and make payments online or through InstaPay or GCash.
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By following these steps, you can easily apply for a Tonik Quick loan using the Tonik Loan app and enjoy fast and convenient access to cash when you need it most.

FAQs 

 What Is Tonik Loan and How Does it Work?

Tonik Loan is a digital-only neobank that offers unsecured loans to eligible individuals in the Philippines. The loan application process is entirely online, allowing for quick and convenient access to funds. To apply for a Tonik Loan, you’ll need to download the Tonik mobile app from the Google Play Store for Android users or the App Store for iOS users. Once the app is installed, you can create an account and follow the straightforward steps to complete the loan application. Tonik Loan aims to provide a seamless and efficient borrowing experience without the need for traditional bank visits or paperwork.

How to Download the Tonik Loan App?

Downloading the Tonik Loan app is a simple process. If you’re using an Android device, you can visit the Google Play Store and search for “Tonik Mobile App.” Once you’ve located the app, simply click on the “Install” button to initiate the download and installation process. For iOS users, head to the App Store, search for “Tonik Mobile App,” and follow the same steps to download and install the app on your device. After the installation is complete, you can proceed with creating your account and accessing the loan application feature within the app. 

How to Apply for a Tonik Loan?

To apply for a Tonik Loan, you’ll first need to ensure that you meet the eligibility criteria, which include being a Filipino citizen or resident, aged 21-70 years old, and having a valid government-issued ID. Once you’ve confirmed your eligibility, you can begin the loan application process within the Tonik mobile app. Provide the required personal and financial information, such as your full name, contact details, employment status, and income details. After submitting your application, Tonik will review the information provided and notify you of the loan decision promptly. If approved, the loan amount will be disbursed directly to your registered bank account.

Conclusion

Navigating the process of obtaining a Tonik Loan, downloading the app, and applying for financial assistance can be a straightforward and efficient experience, thanks to the digital platform’s user-friendly interface. By following the steps outlined in this article, you can take the necessary actions to access the financial support you need through Tonik Loan. With the convenience of the mobile app and the seamless application process, Tonik Loan offers a viable solution for individuals seeking quick and hassle-free access to funds.

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