Have you ever wondered how to use tala in the Philippines? The company, which is based on mobile technology and data science, has developed an app for Android users that offers instant credit scoring and lending. Although the service is available on Android devices, you may need to download the native app first. The app will allow you to apply for loans and other financial services on the spot. However, if you haven’t done so yet, you should check out their website.
Tala is a mobile technology and data science startup that’s working to provide financial services to the underbanked worldwide. Founded in 2012 by Shivani Siroya, the company’s platform utilizes alternative data and state-of-the-art machine learning techniques to make financial transactions more accurate and accessible. Its goal is to provide access to financial services that are within reach for the unbanked, and its plans to do so include local customization of short-term credit products in many different markets around the world.
With a mission to bring access to finance to the underserved around the world, Tala has built a mobile app that scores customers’ credit and delivers customized loans in minutes. Founded in 2014, Tala has raised $219 million in funding and claims to have disbursed more than $2.7 billion in loans. Customers can borrow from $20 to $500 and repay their loans early without penalty. The company claims that ninety percent of its customers return for repeat loans.
Customers can apply for credit instantly, and the app disburses the loan to their mobile money account in five minutes. Then, customers can repay their loans using their mobile money account. It’s that easy! And, with the mobile app, customers can repay their loans right from their phone.
If you are a Filipino and own an Android smartphone, you can now get a loan with TALA. The app is an instant credit scoring and lending service. Unlike traditional banks, Tala does not require collateral or a bank account. You can even apply for a loan without credit history, if you want. And what’s best about it is that you can receive your loan in minutes, without even having to visit a branch.
With the huge number of mobile phone users in the Philippines, this country is also known as the “TEXT capital of the world”. Mobile phone usage in the country is already higher than the average and is expected to increase quickly. This trend is good news for companies looking to develop a mobile app in the country. Furthermore, a native app solution in the Philippines will allow companies to expand their customer base to include NFC payment options.>
When it comes to comparing interest rates for online loans, the Philippines company Tala is a good choice for many. Its interest rates are very competitive in comparison to banks in the country, but the fees are still higher than those of other lending companies. As for the repayment terms, the company has a thirty-day term and charges between 9% and 42 percent of the principal amount. This makes Tala a great choice for those who need a small amount of cash for a short period of time. In addition, borrowers can choose to borrow from a minimum of P1,000 and maximum of P10,000.
In addition to its low interest rate, another attractive feature of Tala is its accessibility. Anyone can apply, regardless of their credit history, and the company does not require a perfect credit score. In fact, its loan requirements are one of the laxest in the country. That makes it a hassle-free option for people with no footprint in larger institutions.
It is easy and quick to apply for a loan in 5 minutes
From 0.01% per day*