There are times that your budget may not work no matter how hard you tried. It’s just hard to make ends to meet sometimes. If you are the usual employee who earns just the minimum salary, it can easily happen.
We call it the CWD or the critical wallet day. That’s usually a few days before payday or can sometimes a week before the said date. It’s okay if you are single or better if you are still living with your parents. But most of the times, it happens to the people who are living independently, new to adulting or if you are a parent or the breadwinner.
It gets tough especially nowadays that everything seems to be more expensive. The bills can come at the same time like the usual electric & water bill. Food seems to also become a huge burden since it looks like it’s the main problem for those who lives in the third world country like the Philippines.
Thank goodness to technology! Getting a loan is not tough anymore. You can now go to Google Play for most loan apps. It can be a real life saver in case that you really need to have an additional funds. Instead of borrowing from random friends or family, you can take advantage of this opportunity instead.
I tried to apply with several loan apps in the past. Most of them though asked for too many information, it looks like a scam already. Some of them will notify you to apply again on another date. It’s either they do not have enough cash to fund their applicants or they are just trying to get your information. It’s hard to tell.
After a few loan apps, I gave up! It feels as if the app developers are just tricking people to download their app so they can earn out of it. Looks like it’s just a monetization strategy to catch our attention. Then, a friend of mine suggested Tala app to me.
I’m already aware of Tala Loan App from the past. The thing is, I was hesitant to use it before since I thought it’s going to end up like others. But one day, I have decided to give it a try. It looks like their requirements were not as much as other apps.
How to apply with Tala?
1. Download Tala app from Google Play
2. Sign up & use referral code: 59L28GU
3. Fill out all basic information.
4. Take a picture of your ID (front & back).
5. Take a selfie with your ID.
6. Once done, there will be a notification that will tell you to wait while they verify your information. They will send an SMS or notify you through the app the result of your loan application. In my case, I got notified through the app.
7. If you got approved, it will show the amount granted. Normally it starts with 1,000 Php up to 1,999 Php on the first loan. It might be a small amount at first but it will get higher on your next loan application up to 10,000 Php.
8. Accept the loan granted to you and select which way you want to receive the loan proceeds. Options are either Bank Account or Remittance Centers.
It’s a pretty easy loan process. The process only takes one to two days including claiming the money you borrowed. It can be useful in case you need a quick cash and don’t want to hassle anyone.
The interest rate is around 15℅ and you have an option to repay it either on the 21st day or 30th day. It seems high but when you badly need cash, that’s good enough than to go to the bank. Some lending companies charge 20℅ or above. So I guess it’s not so bad after all.