Tala achieves a 95% refund rate

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Tala, which claims to be able to process and approve loans within a day, claims to have a repayment rate of 95%.

The lender also claims to have served over 6 million people across Kenya, the Philippines, Mexico and India, used Tala products to start and grow small businesses, manage day-to-day needs and pursue financial goals with trust. .

With that, Tala advises the following to those seeking loans:

Know why you need the loan – Find out if a loan is needed and if you can repay it. Personal, business and emergency loans exist. Knowing where you are going to spend the money will help you decide. Loans Tala Your Way’s speed, convenience and customizable repayment periods make it easy to borrow money.

Make a SMART financial plan to visualize how you will use microcredit – SMART stands for specific, measurable, attainable, relevant and time-bound. Tala Loans emphasized that your financial strategy is SMART if you know precisely the exact outcome you want to achieve, measure and establish your financial milestones, if your financial goals are achievable, how relevant or essential the loan is to you, and if you complete the time-limited objectives.

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Check prices, fees and transparency – Many banks and financial institutions charge interest on loaned money. Some financial institutions charge different interest rates, origination fees and late fees. Tala suggests finding a lender that discloses all interest and fees, so you know what you owe. Tala has no hidden fees and complies with the Truth in Lending Act (Republic Act 3765).

Know your repayment date – Aligning the repayment date with your cash flow, like regular income, saves you from having too many responsibilities at once. Tala’s Loans Your Way lets you tailor your repayment schedule to your salary.

Coordinate with reputable lenders – Consider the credibility of the lender. Check Google Play and other review sites for user feedback and look for approved or business-affiliated lenders.

Tala is a finance company regulated and approved by Securities and Exchange to operate an online lending platform. He is also a member of FinTech Alliance.ph.


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