Today travels inside the country are popular as never before. Due to the COVID-19 pandemic, the majority of countries have closed their borders so it’s the perfect timing to explore your own country. This is especially the case for warm countries like the Philippines! This state has a lot to offer since it is formed of over seven thousand islands with volcanoes, waterfalls, beautiful beaches, and underwater life.
For a successful trip, you’ll only need two things: a ball-park traveling plan of all the places you want to see and money to make this plan come true. If the first thing requires just your dedication and perseverance, the second one is a bit more complicated. Luckily, there are ways to resolve this problem and it’s travel loans.
Loans for travel and holidays in the Philippines
Travel loans can help you cover the charges connected with insurance, mobile expenses, and credit card debt at the time of a trip. To borrow money, you need to know a few things.
If you are a Filipino and are living in the country, you can easily get travel loans from trusted organizations. There are a few types of facilities you can lend money from:
- Public governmental organizations like national banks;
- Private financing companies.
Governmental organizations usually have only offline offices, where you actually have to go through the strict procedure of submitting a massive amount of documents. On the other hand, private enterprises seek to please the customers, so they set up websites and have simple online applications in place. Whatever you choose, make sure it’s an eligible website or offline company and don’t share your personal info until you are 100% sure of that. The facility has to be approved by the SEC as a Lending Operator. In the Philippines, you can check the list of revoked and suspended lenders on the SEC website. Usually, lending companies won’t ask you to pay any fees until you receive the loan.
If you’re thinking that travel loans are way-out of this world, you may be wrong. According to some statistics, a huge share of millennials takes last-minute travel loans online to cover the costs, connected with their trips, instead of saving the money moths beforehand.
Get your travel loan online in the right place.
So, where can you get those holiday personal loans and preferably online? There are plenty of organizations in the Philippines, that will be happy to give you personal loans or business credit. You can just google the words like “travel loans Philippines” and scroll through the huge list of lending companies. But instead of searching for just one of them, you can find a platform, where all of the lenders are gathered. The cashcat.ph gives you a variety of credit options as well as a huge number of potential creditors. It’s basically a website where you can compare the available options and see what suits you best. The service is totally free for you as a borrower since the fee is paid by the company which lends you the money.
The process for submitting for these holiday payday loans is quite simple and hassle-free. However, there are some strict requirements you’ll need to comply with. You should:
- be over 21 and under 50 years old;
- be a Filipino citizen, having a home address in the country;
- have a steady income that you can prove.
The Cashcat platform doesn’t perform any background checks, but your credit history will be checked twice by the lending organization. First, it will carry the initial soft inspection and then, after you’ve accepted the offer, the strict check will be performed.
How to apply for holiday loans online?
Receiving holiday payday loans online is very easy and fast. You can get your loan amount within one business day. The process can be described by a few actions:
- Going on the website and clicking button to apply.
- Filling in the simple form with your personal information and basic details.
- Looking through the list of organizations who are ready to give you a credit and choosing the most suitable one.
- Getting a detailed form from the lending company.
- Receiving the money and going on a trip you’ve dreamed about!
If you’re one of those people that don’t have a bank account or a credit card, you can submit an application for a loan in cash.
There are also some general criteria for people applying for a loan. You should have valid means of contact like cell number and e-mail, and at least one government-issued document, proving your identity (such as driver’s license, postal or voter’s ID, etc.). Your chances for approval will be higher if you can also present your latest bills for utilities, copies of recent paychecks, and a company ID.
Another important question you may have concerns the interest rates. Based on the application and your previous history with the platform, the rates will be 0%-1% per day of using the loan. There also is a nice bonus – the more times you use the service, the lower the interest will be! As for the repayment periods, they vary depending on the conditions you set out with the lender. Some of the lending organizations even allow you to finish payments early without any additional fees. As a rule, you have to make repayments monthly on a fixed day.
In conclusion, travel loans – is a nice and easy way to enjoy your vacation and travel, without having to save the money and cut the expenses for months before your trip.