Top 3 Benefits of Using Mobile E-Wallets for Loan Repayment

Mobile wallets represent the combination of finance and technology. For years, they’ve helped thousands of borrowers repay their loans through convenient means possible. With the prominence of digital revolution, mobile e-wallets are still getting improved to accommodate a growing number of borrowers.


Do you want to fully automate your repayment methods? Are you looking for a service that will also help you pay for bills and other utilities? Perhaps you need an e-wallet. The benefits are definitely worth your time and attention.


Accessibility and Mobility

The main purpose of an e-wallet is to make repayment highly accessible and mobile. This is possible because the mobile wallet is linked to other major payment centers. With few swipes or taps, you can repay your flexible loan in just seconds. Mobile wallets are favored by people who are always on the go. Whether you’re in the office or in the bus, you can settle your payments easily. Mobile wallets can also prevent payment delays due to their speed. While bank transfers are also quick, there’s usually a buffer of an hour or two. Mobile wallets eliminate buffers so that transactions are almost seamless.


Full Transaction in Minutes

Without mobile wallets, repayment transactions may take longer. If you choose to pay on site, you’ll spend additional time traveling. Queuing lines can even make it worse. Through your reliable mobile wallet, you don’t even need to leave your home or office. Simply open your wallet, input the receiver of the fund, input the amount, and check out the handler information. After that, you’re good to go!


Incentives for Users

The mobile wallet industry is also incentivized. Through incentives, mobile wallet providers can attract thousands of users around the world. There are many kinds of incentives that you can get. Perhaps the most common is the rebate scheme. For every payment transactions you sent out, you’ll get a small rebate. At first, these rebates are almost insignificant. But once they’re compiles, you’ll have a small fund that can go towards movie, a dinner meal, or a knickknack that you can purchase at your favorite store. Other incentives are discounts and gift cards. A little research will help you find the provider that’ll give you the best incentives.


Mobile e-wallets will pave the future of finance. It’s interesting to see what features await the regular user and borrower in just few years’ time. Before choosing a mobile wallet provider, you should check out reviews. The reviews will point you to the fastest and most reliable e-wallet providers in the market today.

Top 4 Business Loan Myths

One of the best methods to secure startup capital is to apply for a business loan. With the help of a business loan, your business can finally get off the ground and reach the profitable areas of the market. However, not all entrepreneurs are utilizing the value of a business loan. They exhaust all other options instead of applying for a business loan first. The real culprits are the ‘myths’ surrounding business loans. By understanding and busting these myths, you can start scouring for business loans without inhibitions.


Myth #1: Business Too Small for Approval

Many entrepreneurs think that their business is too small to be approved. This is an old debilitating myth that affects the global entrepreneurial mindset. Scrub this off from your mind! Banks and financial organizations treat all legal businesses fairly – regardless of the size. In fact, some lenders are even offering small business loans to those who are just starting out. Your loan approval depends on the way you present your business.


Myth #2: Approval Takes Infinitely Long

While some lenders really take their time before approving a loan, some can release the funds in just few days. Startup entrepreneurs got the notion that approval takes too long because of different rumors spreading in websites, forums, and global markets. Even if few banks take long enough to approve and release the loan, the time is manageable. Why does it take too long anyway? Since you’re applying for a high-end loan, the lender must take all possible precautions. They must ‘hedge’ themselves from risk. Also, if you’ve submitted incomplete documents, the process may take longer.


Myth #3: New Businesses Have Smaller Approval Chance

Some misinformed borrowers spread lies about smaller approval chance for startups. Do not believe this notion. Times have changed – banks are now ready to embrace risks for the sake of good business and empowering business owners. New businesses even have greater support from banks. Rest assured, new businesses will have slightly better approval chances. Remember, your approval chance partly depends on your efforts to secure your application and credit profile.


Myth #4: Only Banks Can Release Business Loans

While the bank is the prime authority that releases business loans and other kinds of loans, it’s not the only type of lender. Credit unions and cooperatives are also great choices because they have smaller rates and easy application processes. Aside from that, you can also approach independent lenders. If someone tells you that you can only rely on banks, that person isn’t aware of the things going on in the lending arena.


Now that you’re aware of these business loan myths, it’s time to brace yourself and send an application to your target bank. You’ll still encounter hurdles, but you now have better awareness regarding the application. For additional useful information, try browsing bank websites. You can browse articles to further help you in business loan application.

Top 3 Reasons Why You Should Get Character Loans

Due to the scaling borrower demand in the global lending industry, lenders became more competitive tried to offer different kinds of loans. Nowadays, you’ll see many personal loans with various amounts and terms. Aside from personal loans, character loans are also becoming more popular and feasible. What is character loan and why should you be interested? Well, a character loan is a type of unsecured loan based on your character. You’ll see this type of loan often in rural areas and provinces where communities are tightly knit.


A character loan can be advantageous for you, especially if you need money quickly. Here are some of the reasons why a character loan is beneficial:


Exceptional Approval Rates


Just like other kinds of unsecured loans, character loans are known for their high approval rates. Whenever you approach a character loan lender, your personal background will be assessed through different checks and balances. In small communities, you’ll see the importance of referrals and word-of-mouth. If you’re backed up by an influencer in the community, there’s a greater chance that your loan will be pre-approved. For city-based character loan lenders, your social media profile can be one of the main factors. So, you should consider doing a little bit of ‘house cleaning’ if you want the lender to approve your application. Character loan lenders tend to veer away from over-spenders and incessant party goers.


A Good Character Can Pay Off


There are some instances when a character loan lender offers huge amount ceiling for people with ‘really good’ character backgrounds. These people are probably community influencers, outreach volunteers, hardworking professionals, or residents with a great sense of integrity. In this case, a good character pays off. If you’re new in the town, you may have a slight difficulty getting approved for character loans – unless someone vouches for you. For city-based character lenders, your background can be measured by the way you present yourself, your social media profile, credit status, government documents, and the reasons behind your application.


Manageable Interest Rates


The microfinance industry is filled with different character loan programs.


This simply means that the interest rates are moderately low, with some loans reaching only 10% interest per month. If lenders can increase or decreased your amount ceiling based on your character, the same thing can be done with interest rates. According to several studies, character loan lenders will issue lower interest for reputable people in the community. Strangers or visitors will be given a higher rate, though this can be contested. Another noticeable trend is competitive adjustment. Character loan lenders adjust their rates upon realizing that competition is a bit tough.


Even though most character loans can be advantageous, you should still be vigilant. Pick your lender wisely so that there’ll be no regrets down the road. For more information, you can do a quick web search about the best character loan lenders within your area.

Top 3 Popular Online Loans in the Philippines

When it comes to lending in Southeast Asia, Philippines is considered as one of the top contenders. Thanks to the continuous rise of social media, lending companies in Philippines managed to introduce different kinds of online loans. This gave way to a massive increase of borrowers and inherent demand for flexible loan agreements.

Also, the most popular online loans in the Philippines have raised the spending power of Filipinos, thus driving the country’s economy forward. If you’re looking for popular online loans in the Philippines, you can start with these following options:


Personal Loans – Flexible Solutions for All

In the lending arena, the personal loan is the most flexible option that you’ll encounter. Almost all online lenders are offering this type of loan, especially banks. Due to its variability, personal loans are typically marketed to employees, freelancers, and anyone who has an income source. One of the potential advantages of personal loan is ease of payment. Lenders usually divide the payment terms accordingly so that repayment won’t be too hard for borrowers. Not all banks in the Philippines offer the same amount ceiling for personal loans. Some banks may offer you a loan of up to P10,000, while others can just offer P5,000. If your credit rating is high, however, lenders will trust you more and you can borrow larger amounts.


Vacation Loans – Get that Dream Holiday

Have you planned a vacation but your wallet won’t let you proceed? This is the situation with many employees all over Philippines. With many interesting destinations all over the country, failing to go on a vacation can be frustrating. If you ran out of options, lenders will always catch you. Vacation loans are typically issued by banks and sanctioned lenders to employees. With a vacation loan (also known as holiday loan), you can finally unleash your inner wanderlust. Whether you want to blow off steam or explore that fantastic island getaway spot, a reliable vacation loan can help you out. To make it even more interesting, you should pick a vacation loan with tie-ins to different holiday experience providers.


Auto Loans – Time to Buy Your Dream Car

Many Filipinos are finding new opportunities to get their dream cars. Some of these opportunities are auto loans. Typically, banks are issuing auto loans with variable rates. Banks are even lowering their rates so that new borrowers can enter the arena. To get the best auto loan, make sure that you spend a bit of time researching about the most popular banks. This way, you can find a loan that will match your budgeting style.


Do you these online loans appeal to you? If you need quick cash today, visit a reliable bank or money lender sg and see what’s available!

Top 3 Home Improvement Loans for 2017

The global lending industry has a diverse number of loans that anyone can apply for. All of these loans vary in privileges, popularity, interest rates, availability, and transactional nature. One of these popular debt instruments is the home improvement loan. Basically, a home improvement loan is a lump sum given to homeowners who want their homes fixed or renovated. If you want to have a portion of your home repaired yet you don’t have enough money, you can try some of the available home improvement loans this 2017.


Basic Home Improvement Loans


The basic or traditional home improvement loans are those ones issued by banks and financial organizations. Once you’re approved for a home improvement loan, the lender will give you a sizable sum that can be used for home repair. With this lump sum, you can complete different projects like room extensions, additional swimming pool, foundation repair, or total HVAC replacement. Home improvement loans are unsecured, so you don’t have to pay for any collateral. As a consequence, the interest rates are higher. The amount that you can borrow depends on your credit score.


Home Equity Loan


This 2017, the home equity loan seems a promising option. With a home equity loan, you need to pay lower monthly interest, but the repayment period is usually longer than traditional home improvement loans. The value of your home is also an important factor to your home equity loan. This will determine how much interest you have to repay for years. It’s very similar to a mortgage loan, except that it’s a bit lenient. At some instances, you almost can’t tell the difference. Another variant that you can try is the home equity line of credit or HELOC. With a HELOC, you’ll pay variably lower interest rates as you draw on your line of credit. However, once the draw period is over, the rates will climb quickly.

Cash-Out Refinance


The cash-out refinance is a popular option that ‘extends’ your mortgage. Typically, it may be difficult for you to reapply for the same amount of your mortgage loan. With a cash-out refinance, you can reapply for higher amounts. The trick is to repay your mortgage then declare your cash-out refinance. You now have an extended loan which can be used for anything you want. The downside is that your mortgage repayment period will take longer.


Once used properly, home improvement loans can change the total quality of your life. If you’re creative, you can use these loans for different purposes. Just make sure that your purpose can maximize the value of your loan. Don’t waste your home improvement loan for luxuries or unnecessary things. To know more about home improvement loans, check out some latest global financial articles.