Anong Ibig Sabihin ng Personal Loan?

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Naghahanap ako ng mga kasagutan tungkol sa iba't-ibang tanong regarding sa Personal Loan. Palagi ko itong naririnig sa mga kausap ko online at minsan pati din sa mga kaibigan ko in person. Kahit ang mga tao ngayon ay may trabaho na, hindi pa rin sapat ang kinikita nila para matugunan ang mga pangangailangan lalo na kung lumalaki na rin ang kani-kaniyang pamilya. 

Para matugunan ang mga pangangailangan, karamihan sa mga may trabaho ay pumapasok sa mga opisina na nag-offer ng mga loans gaya ng salary loan or personal loan. Ang iba nga, hindi alam kung ano ang deep meaning ng mga katagang loan at personal loan. Para sa kanila basta loan, UTANG yon. Ano ba talaga ang kahulugan sa mga salitang ito at ano ang ibig sabihin nito para sa mga nangungutang.

Nagsaliksik ako sa internet at ito ang bumulaga sa akin, mga sagot sa tanong ko at ngayon naunawaan ko na kung ano ang responsibilidad natin bilang humihiram ng pera sa ibang tao o sa isang lending company. Sana tulad ko maintindihan nyo rin kung ano ang ibig sabihin ng Personal Loan at ang responsibilidad na kaakibat nito:

Personal Loans in Philippines - Frequently Asked Questions

If you have short-term money needs, a personal loan can be the answer. With no collateral needed, you can easily apply for a personal loan at any bank in the Philippines. To learn more about the basics of personal loans, we've compiled this FAQ for your convenience.

What is a Personal Loan?
True to its name, a personal loan is a loan for any personal expense. Unlike a housing loan or a car loan, you can use a personal cash loan for anything you want, be it tuition fees, travel, or anything else.

There are two types of personal loans available: secured and unsecured. A secured personal loan requires collateral, such as a house or car, to back the loan. For unsecured personal loans, you don't need to put up any kind of collateral. Unsecured personal loans are much more common in the Philippines, though secured loans are also available.

How do Personal Loans in the Philippines work?
When oyu take out a personal loan in the Philippines, you enter into an agreement with the lender (usually a bank) and promise to repay your loan over an agreed length of time (also known as the a loan tenure or aloan tenor). If you're taking out a secured loan, you will also need to put up a collateral.

To repay your personal loan, you make monthly payments for the loan tenure until you've fully repaid both the principal of the loan and the interest. During the early years of the loan, the majority of your monthly payments will be used to repay interest, however, as time passes, a larger proportion of your payments will go into paying down the principal.

Rates vary from bank to bank. For example, a Security Bank personal loan has an effective interest rate of 29.48%, while a BDO personal loan has an effective interest rate of 26.62%. For the latest rates, use our personal loan calculator.

How Do I Use A Personal Loan Calculator?
All you have to do is to specify the amount and period you want to clear the payment of it in the various available fields. The online calculator will then make it easy for you by providing suitable loan packages that are available on the market, and the monthly amortizations for each one. It is worth noting that the best rates will feature at the top.

If you wish to sign for a personal loan you will then click on the Apply button.

Loan Terms
Collateral:
This refers to the asset the borrower pledges to a given lender in order to secure a loan and this will be impounded by the lender in case of default in payment of the loan. The case in Malaysia particularly for the islamic personal loans don't require the need for a collateral.

Early settlement penalties:
The fees that the borrower will have to pay in the event that he/she settle the loan at an earlier date from the one specified on the loan agreement. This is usually estimated as a percentage of the initial loan amount.

Guarantor:
This is a person who agrees to be liable for the payment of a loan in the event that the borrower will not be in a position to pay it in time.

Late Payment Charges:
This is the fee which the bank will charge you in the event of you not paying your loan in the agreed time schedule. For example, for BPI personal loans, late payments are charged 5% a month.

Loan/Financing Tenure:
This refers to the period for a certain loan. At the end of the loan tenure the borrower is supposed to have cleared the loan taken.

2 comments:

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