Unemployed loan in the Philippines

Unemployed loan in the PhilippinesDespite some recession of the unemployment rate in the Philippines, by July 2018 the unemployed population remains at 5.5 percent of the population (against 6.6% in January 2017). The consequences of colonization continue to exist, being the catalysts for the economic decline. The expansion of the microfinance company “Zaimer”activities allows not only to increase the flow of new customers, but also to provide the poor people with fast and affordable loans for immediate needs.

Structure of consumption in the Philippines

The main trend of Asian legislators is to encourage immigration. Under domestic legislation, Russian tourists have the right to freely visit the country. In addition to the absence of a visa, guests can stay for up to 3 years. This cannot go on forever, because the citizens of another country will need funds not only for accommodation, but, sooner or later, for departure from Asia.

Unemployed loan in the PhilippinesLocal people, who are not yet able to adapt to industrial life, often have an urgent need for money. According to official statistics, most of the country's lending institutions are represented by microfinance organizations. Banking practice doesn't take root at least because of the high risks of non-repayment of issued loans.

The transition of Russian companies to international markets is certainly related to the demand for funds to borrow. The first development of foreign regions began with such countries as Kazakhstan and Georgia. Mexico, Poland, Peru and Brazil were next on the way of development. Today, Russian microfinance companies have the ability to provide loans to residents of the United States and the Philippines.

PERSONAL AND BUSINESS LOANS IN METRO MANILA
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Where is it better to take a loan for unemployed to a bank account

If you work informally, it will be difficult to draw up a loan in a large bank. This is due to the fact that most financial institutions require an income statement, a certificate of employment to confirm your solvency. But there are companies that provide this service.

BDO

The company provides collateral loans. BDO has no separate category of credit products for unemployed.

Pag-IBIG Fund

Unemployed loan in the Philippines

The State Housing Development Investment Fund offers a special program for its members who are left without permanent employment. To do this, they must make at least 24 monthly contributions. The loan is paid within thirty six months. Grace period – the entire first year. If the membership record was invalid for more than six months, it will have to be restored.

BPI

In this company it is impossible to receive funds in the absence of permanent income, this is an important criterion when considering an application. The maximum loan amount is calculated based on the monthly earnings of an individual.

RCBC

Unemployed loan in the PhilippinesUnfortunately, the banking organization KSIS does not provide services to the unemployed. In order for the application to be approved, you will have to confirm your income in any convenient way. RCBC doesn’t issue quick cash loans for unemployed philippines.

 

Metrobank

To get a loan at Metrobank, you will also need an existing employment, adult age and financial viability. If you have recently quit or have been looking for a job for a long time, you will not be able to draw up a loan at Metrobank.

Security Bank

Unemployed loan in the PhilippinesSecurity Bank does not issue special loans for people without a permanent place of work. Personal loans are issued for the amount of 30 thousand to two million pesos. The maximum maturity of the debt is three years. The application will be approved in reduced terms, the process of accruing the money will take no more than one week.

PSBank

PSBank bank does not issue funds to people without employment. Approval of the application requires confirmation of solvency.

SSS

Unemployed loan in the PhilippinesThe company SSS differs convenient mechanism of submitting an application. To draw up a loan, just fill in the form on the official website. To register on the portal SSS Online you will need a mobile phone. But this bank does not offer services to citizens without a fixed source of income.

The requests of the international services customers

Each applicant, who turns to a financial company, wants to get a loan without any problems. You can get a fast loan in the “Zaimer” company, who has been working in the international loan market for many years. There is a high-speed service, operating for applicants, which checks users' data and issues loans online. Even today you can get a loan on terms offered by the company in various national currencies. Thus, applicants, residing in the Philippines, can get loans on the following terms:

  • The interest is accrued on a daily basis. The interest rate is 0.63 per day;
  • The amount to be issued is from 800 up to 25,000 pesos (in the rouble equivalent it is from 1,000 up to 30,000);
  • The loan period is from a week up to a month;
  • The method of funds obtaining – in case of a personal presence in a branch of a microfinance company – by cash. If an application is processed online, money can be received by a non-cash transfer, for example, to a card;
  • Credit applications from persons who are 18 years of age or older are accepted for processing.

According to the current practice, the “Zaimer” company provides money to at least 95 percent of the applicants.

What is required from applicants

Unemployed loan in the PhilippinesIf you need financial assistance, you can turn to the electronic service of a microfinance company. Checking and providing for those in need of a loan is entrusted to automatic processing. Robot works with the applicants, so the most important thing for a potential borrower is to establish confidence in the service. The steps are as follows:

  • Visiting of the official site of the “Zaimer” loan company;
  • Selection of a loan that fits the requirements. A convenient calculator will allow you to immediately select the product that is most suitable for such parameters as term, interest rate and loan amount;
  • After choosing the right loan, a new customer should be registered. For authorization in the service you need to specify the Philippine passport data, a registration address, a contact phone number. The next step is the confirmation of consent to the personal data processing;
  • Then the method of obtaining the required amount in peso is chosen – to a bank card or to an account in the electronic payment system;
  • Confirmation of acceptance with the service and lending rules, is carried out by entering a special character set that comes in the SMS notification.

In accordance with the general rules of the financial company, a high percentage of approval is given to citizens who didn't have delays according to payment schedules in the past. A low level of payment discipline isn't taken into account if such facts have occurred during the cooperation with other organizations. Those who applies for a loan for the first time can count on the approval by the service.

How can loans be repaid

Unemployed loan in the Philippines

The “Zaimer” company provides maximum convenience to its customers in terms of debt settlement. You can repay the loan using one of the following options:

  • Transfers from a VISA bank card of one of the Philippine banks (Asian Development Bank, PhilBank, Solidbank Corporation);
  • Through the payment system Diners Club;
  • By means of Bank Americard service;
  • In one of the offices of American Express or a company cooperating with this organization.

Is it possible to extend loans

Unemployed loan in the PhilippinesEach of the customers, experiencing financial difficulties, can expect to participate in the loyalty program. If you can't return the money on time, you can count on easy approval of the installment plan application. The service has a corresponding option, after the activation of which the parameters of the previously issued loan in the peso are reconsidered automatically. However, in this case, the total debt amount can increase. The consent to carry out installments is usually approved instantly. The option is available to those customers who haven't previously allowed delays to happen and discussed such issues with representatives of the credit company. In order not to receive calls from employees of the debt settlement department, it is necessary to repay loans in time. The requirements are the same for all categories of borrowers.

Early repayment options

Undoubtedly, obtaining of cash on loan terms doesn't happen because of a good life. Stimulation of borrowers to repay loans is carried out by setting daily interest rate on the balance of the loan amount. In case of early repayment, the customer of the “Zaimer” service won't be charged with the fees that were planned during the agreement drawing up. Thus, borrowers can significantly save on repayments in advance of established terms.

Conditions for obtaining a loan

The process of making quick cash loans for unemployed Philippines varies slightly among all banking organizations. The average procedure for obtaining a cash loan includes the following steps:

  1. You submit an application in person (at the company's branch) or remotely (on the official website, or via email). It specifies the amount, terms, appointment (if the loan is targeted).
  2. Copies or original identity documents are attached to the application. Other papers may also be required (at the request of the lender). The exact list of required documents is issued by the bank.
  3. After approval of the application, the funds are transferred to the client’s personal bank account. The process takes from a couple of hours to two working days. Specific terms of transfer depend on whether the bank is busy, how it works.
  4. The borrower have to make payments and repay the loan with all interest within the specified period.

In the event of monetary difficulties, the client can contact the bank for prolongation. The terms of the instant loan will be increased, the amount of interest will also increase. You need to apply for a loan extension in advance, otherwise it will be listed as “overdue” in your credit history.

How to return

To find out how to return the funds, contact the consultants of the financial institution. When making a loan, this information will be provided to you.

The most common methods:Unemployed loan in the Philippines

  • through the bank – in cash to the personal account of the company, or by transfer from the card;
  • using the online account;
  • through ATMs;
  • personally at the branch of a financial organization.

The client can select the most convenient option for him and use it.

 
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