Guide on Requirements for Tonik Cash Loan Offer Application
REQUIREMENTS FOR TONIK CASH LOAN – Here is a guide on the documents that you need to prepare in applying for this Tonik Bank loan offer.
This year 2021, the Central Bank of the Philippines (Bangko Sentral ng Pilipinas) has approved several applications for digital bank operation. One of these was the application of Tonik Bank.
BSP believes that digital banks can help boost the recovery of the Philippines’ economy. The country’s economy is struggling now due to the impacts of the pandemic. As for the digital banks, one of their common pursuits is to provide banking services to the unbanked population.
It was in March when Tonik obtained a digital bank operation license from the Central Bank of the Philippines. In its first month, it got a total consumer deposit of P1 billion as it offers high interest rates of up to six (6) percent in a year.
It has been eight months now since Tonik started operating as a digital bank in the country. With regards to its consumer deposits, it got a total of P5 billion since March 2021.
The Tonik Bank has several offers to the public – savings accounts, debit cards, loans, and other deposit, withdrawal, and fund transfer services. With regards to its loan offers, one of them is the Cash Loan.
What are the requirements for Tonik Cash Loan application? According to the digital bank, the following are needed in applying for its offer:
- one valid ID
- 1-month payslip
Aside from the very minimal requirements for the Tonik Cash Loan application, the loan processing is very fast. You can be approved in as fast as 15 minutes. Are you interested to the said offer? You may visit – https://tonikbank.com/loans.
You may also visit – RCBC Plans To Secure Digital Banking License From BSP
