Credit online to your card

Getting a loan can be a pivotal step in addressing your money needs, but finding the best deal and the application process can be challenging. However, thanks to the information site Fina.guru, this process can become much easier and more convenient. Let's look at how it works:

Overview of loan offers:

The first step in getting a loan is to review the various loan offers available in the market. Fina.guru provides detailed reviews and comparative analyzes of different loan products from different banks and financial institutions.

Selecting the best offer:

After reviewing the different offers, you can choose the one that best suits your needs and financial situation. Fina.guru helps you make an informed choice by providing all the information you need about loan terms.

Filling out an online application:

After choosing a loan offer, you can fill out an online loan application by clicking on the offer from the microfinance organization that you like. This process is usually very simple and only takes a few minutes.

Receiving a decision and approval:

Once you submit your application, the financial institution will review your request and make a decision on your credit request. You will usually receive a decision immediately or within a short period of time.

Signing the contract and receiving funds:

If the application is approved, you will be asked to sign a loan agreement. After signing the agreement, the funds will be transferred to your bank account or given to you in cash, depending on the terms of the loan.

Loan repayment:

After receiving funds, you will need to regularly repay loan payments in accordance with the terms of the agreement.

Overall, using an information site like Fina.guru can make the loan process much easier and easier, providing access to a wide range of loan offers and helping you make informed choices. However, remember that the loan should be used wisely and take into account your financial ability to repay it in the future.

Should I use the services of an MFO?

Almost any citizen of the Philippines, who has a passport, a certificate of TIN assignment, a telephone number and a bank card can take out a loan from an MFO. About 90% of applications submitted to microfinance organizations are approved and loans are issued. It is clear that quite a large part of these microloans turn out to be problematic. MFO administrations are struggling with evil defaulters; this struggle is not easy and does not always end in success. Therefore, MFOs insure against high risks with draconian interest rates.

If you need money for a longer period, you should consider lending from a classic bank. However, this is not always possible, since the percentage of banks refusing loan applications sometimes reaches 50%. Banks very carefully check the borrower's solvency, and if it raises suspicions, the loan will be refused. Therefore, most often, an MFO is the only source of borrowing money.

What to do if you can’t repay the loan on time?

Before applying for a loan from a microfinance organization, you should carefully weigh your financial capabilities and carefully study the Rules and Conditions of microcredit in a particular organization. Many microfinance organizations provide the opportunity to repeatedly prolong a microloan with the condition of repaying current interest. Of course, this does not fundamentally solve the problem, but it gives time to solve your financial problems. In some cases, the MFO accommodates the borrower halfway and provides the opportunity to refinance a previously taken loan. If the client is not confident in his financial capabilities, he must select the appropriate organization in which it will be possible to resolve “amicably” the issue of late repayment of the loan taken.

What is the loan rate?

Today the lending rate is only 0.01%/day.

Conclusion

MFO is a convenient alternative to bank lending. In MFOs you can quickly get a small microloan by providing only a minimum set of documents. Socially vulnerable segments of the population can receive loans. For all these conveniences you have to pay with a very high interest rate on the loan.