Tonik Loan Application: Empowering Financial Inclusion and Transformation in the Philippines


Tonik, the first digital bank in the Philippines with a digital bank license from the Bangko Sentral ng Pilipinas (BSP), is on a mission to transform the financial landscape not just in the country but also across Southeast Asia. With a focus on the 44% of Filipinos who remain unbanked, Tonik offers accessible financial products and solutions, including deposits, savings, and loans.

In this review, CashLoanPH will explore the features, requirements, and benefits of Tonik’s loan offerings, catering to various financial needs.

Tonik’s Mission and Vision

Tonik’s core mission is to empower Filipinos, not just within the Philippines but across Southeast Asia, with seamless and secure digital banking services. Through its cutting-edge platform, Tonik seeks to bridge the gap between traditional banking and the unbanked population, providing them with a plethora of financial products and solutions to help them achieve their financial goals. By leveraging the growing popularity of internet and social media usage among Filipinos, Tonik aims to create a financial ecosystem that caters to the tech-savvy population, revolutionizing the way they handle money.

Tonik Loan Offerings

At the heart of Tonik’s offerings are its diverse loan products, designed to cater to various financial needs and empower individuals to achieve their dreams. Tonik offers three primary non-collateral cash loans and a recent addition of a fully digital secured loan. These loans are accessible to all through the Tonik mobile app, available for download on both the App Store and Google Play Store.

Quick Loan: Designed for Convenience and Versatility

The Quick Loan is the epitome of convenience, offering a hassle-free application process and quick approvals. This loan type is ideal for individuals seeking financial assistance for debt consolidation, business expansion, home renovation, travel, education, and even emergencies. With the Quick Loan, customers can borrow amounts ranging from ₱5,000 to ₱50,000, providing flexibility and versatility to meet their immediate financial needs.

Shop Installment Loan: Empowering Dreams of Home Improvement and Gadgets

For those looking to fulfill their aspirations of owning the latest gadgets or upgrading their homes with new appliances, the Shop Installment Loan is the perfect choice. Borrowers can access loan amounts ranging from ₱5,000 to ₱100,000, enabling them to purchase air conditioners, TVs, refrigerators, laptops, ovens, washing machines, and much more. With flexible repayment options spanning from three to 24 months, customers can plan their budget effectively while achieving their aspirations.

Flex Loan: Unsecured Financial Assistance for Dream Realization

The Flex Loan is designed to empower individuals to realize their dreams without the need for collateral. Offering loan amounts from ₱20,000 to ₱250,000, the Flex Loan opens doors for various opportunities, from pursuing further education to starting a small business. Customers can choose between six to 24 monthly installments, allowing them to tailor the loan repayment to their financial capacity.

Big Loan: A Digital Secured Loan for Major Life Goals

Tonik’s newest addition to its loan portfolio is the Big Loan, which represents the digital transformation of secured loans. Targeting condo owners in Metro Manila, this loan requires the title of a condominium as collateral. The Big Loan provides access to substantial loan amounts ranging from ₱250,000 to ₱5 million, making it an excellent option for funding home renovations, small businesses, and other major life goals. With flexible installment plans spanning from 12 to 60 months, customers can manage their repayment comfortably.

Exploring the Possibilities of Tonik Loans

The versatility of Tonik loans empowers individuals to explore a plethora of possibilities for using the borrowed funds:

Building a Business and Enhancing Homes

Entrepreneurs looking to set up or expand their small businesses can benefit from the Quick Loan’s accessible funding. Similarly, homeowners can undertake renovations and improvements, enhancing the value and comfort of their living spaces.

Pursuing Educational Aspirations and Travel Goals

The Quick Loan offers a gateway for individuals seeking to pursue further education or embark on transformative travel experiences. Whether it’s acquiring new skills or broadening horizons through travel, the Quick Loan provides a convenient solution.

Consolidating Debts and Managing Emergencies

For those grappling with multiple debts, the Quick Loan offers an avenue for debt consolidation, streamlining finances and reducing the burden of multiple repayments. Additionally, the loan can act as a financial safety net during emergencies, providing peace of mind during unforeseen circumstances.

Acquiring Gadgets and Appliances

The Shop Installment Loan opens up possibilities for individuals to acquire the latest gadgets and appliances, from cutting-edge smartphones to state-of-the-art home appliances, enhancing their daily lives and productivity.

Unlocking the Features and Benefits of Tonik Loans

Each loan type offered by Tonik comes with a unique set of features and benefits, designed to cater to the diverse needs of its customers.

Tonik Big Loan Features and Benefits

The Tonik Big Loan stands out as the perfect solution for those with substantial financial goals. Key features and benefits include:

  • Fast Approval Process: Pre-approval within 30 minutes and loan disbursal in approximately seven business days.
  • High Loan Amount: Borrow from ₱250,000 up to ₱5 million, making it an ideal choice for significant financial requirements.
  • Fixed Interest Rates: A fixed 0.5825% monthly contractual rate or 6.99% annual percentage rate ensures predictable and manageable monthly payments.
  • Flexible Installment Plan: Choose between 12 to 60 monthly installments, allowing customers to tailor the repayment period to their financial capacity.
  • Condo Title as Collateral: The loan requires the title of a condominium in Metro Manila as collateral, providing a secure and regulated framework for lending.
  • Co-Borrower Option: Customers can apply with their spouses as co-borrowers, enabling them to access larger loan amounts.

Tonik Flex Loan Features and Benefits

The Tonik Flex Loan offers a seamless and unsecured loan option for those with varying financial needs. Key features and benefits include:

  • Fast Approval Process: Quick loan approval within one day, streamlining the lending process.
  • Flexible Loan Amounts: Borrow any amount between ₱20,000 to ₱250,000, catering to different financial requirements.
  • Low Interest Rates: Enjoy one of the lowest fixed monthly interest rates starting at 1.71%, making it an attractive option for cost-effective borrowing.
  • Flexible Installment Plan: Choose between six to 24 monthly installments, providing customers with the freedom to manage their repayment schedule.
  • Minimal Documents Required: With no collateral needed, customers only require a Tonik savings account and a few valid IDs to apply for the loan.

Tonik Quick Loan Features and Benefits

The Tonik Quick Loan offers a convenient and accessible loan option for immediate financial needs. Key features and benefits include:

  • Fast Approval Process: Receive loan approval within 30 minutes, making it an ideal choice for urgent financial requirements.
  • Flexible Loan Amount: Borrow as low as ₱5,000 and as much as ₱50,000, catering to various financial scenarios.
  • Fixed Monthly Interest Rate: The interest rate is fixed starting at 4.26%, ensuring consistent monthly payments for customers’ peace of mind.
  • Flexible Installment Plan: Choose between six to 24 months for the loan repayment, allowing customers to align it with their financial capabilities.
  • Minimal Documents Required: With a streamlined application process, customers only need a Tonik savings account and valid IDs for their loan application.

Tonik Shop Installment Loan Features and Benefits

The Tonik Shop Installment Loan offers a seamless financing option for gadget and appliance enthusiasts. Key features and benefits include:

  • Fast Approval Process: Quick loan approval within 30 minutes, providing instant access to funds.
  • Flexible Loan Amount: Borrow any amount between ₱5,000 to ₱100,000, catering to a wide range of gadget and appliance purchases.
  • Flexible Installment Plan: Choose between three to 24 months for loan repayment, enabling customers to align it with their budgetary preferences.
  • Fixed Monthly Interest Rate: Enjoy a fixed interest rate of 4.5% regardless of the loan term, ensuring consistency in monthly payments.
  • Minimal Documents Required: With only 10% downpayment, a Tonik savings account, and valid IDs needed, the application process is seamless and straightforward.

Eligibility and Requirements for Tonik Loan Application

To be eligible for a Tonik loan application, prospective customers must meet specific criteria:

  • Filipino citizenship.
  • Residency in the Philippines.
  • Age between 23 to 58 years old.
  • Employment status.
  • Possession of valid government-issued ID and TIN ID.
  • Additional requirements depending on the loan type (e.g., sufficient funds for downpayment, ownership of a condominium unit in Metro Manila with a clean title, etc.).

Required Documents for Tonik Loan Application

The documentation process for Tonik loans is straightforward and customer-friendly. The required documents vary depending on the type of loan:

Requirements for a Tonik Quick Loan:

  • Valid ID.
  • Tonik savings account.

Requirements for a Tonik Shop Installment Loan:

  • At least 10% downpayment.
  • Valid ID.
  • Tonik savings account.

Requirements for a Tonik Flex Loan:

  • Valid ID.
  • ATM card.
  • Latest Bank Statement of Account.
  • Tonik savings account.
  • Proof of Income (e.g., BIR Form 2316, latest payslip, or Certificate of Employment).

Requirements for a Tonik Big Loan:

  • Valid ID.
  • Latest Bank Statements of Account or payslips.
  • If married: Valid ID of spouse and Marriage Contract.
  • If widowed: Marriage Contract & Death Certificate of Spouse.
  • If annulled: Final Court Order on Legal Declaration of Nullity of Marriage.
  • Copy of Condominium Certificate of Title.
  • Real Estate Tax Clearance.
  • Tax Declaration.
  • Condominium Association Dues Certificate.
  • Photos of the property.

Seamless Application Process for Tonik Loans

The application process for Tonik loans is designed to be user-friendly and efficient, ensuring a seamless experience for customers.

Creating a Tonik Account

Before applying for a loan, customers must create a Tonik account through the mobile app:

  • Download the Tonik app from the App Store or Google Play Store.
  • Register with the registered Philippine mobile number and complete the verification process.
  • Read and agree to the Terms and Conditions.
  • Enter the one-time password (OTP) sent to the mobile number.
  • Complete the photo verification process following the provided instructions.
  • Scan the valid government ID in portrait mode, capturing both the front and back of the ID.
  • Confirm the ID details and provide personal information.
  • Answer the Foreign Account Tax Compliance Act (FATCA) question for citizenship verification.
  • Add a signature using a finger or stylus pen.
  • Create a strong password, ensuring it meets the specified criteria.

Applying for a Tonik Loan

Once the Tonik account is successfully created, customers can proceed with the loan application:

  • Access the Loans section from the main dashboard in the Tonik app.
  • Choose the type of loan based on their financial needs.
  • Select the loan amount and preferred installment period.
  • Review the computed monthly installment to ensure it aligns with their budget.
  • Review the loan summary, including the interest rate and processing fee.
  • Click on “Apply for this loan” to proceed.
  • Upload a photo of their ID for verification, which will be processed within 24 to 48 hours.
  • Complete the application by providing additional information based on the loan type selected.

Convenient Repayment Options for Tonik Loans

Tonik offers customers two convenient methods for loan repayment:

  • Auto-debit Feature: Customers can opt for automatic monthly debits from their enrolled Tonik savings account or linked credit/debit card on the due date they set.
  • Linked Credit/Debit Card: Customers can also link their credit or debit card to enable automatic loan repayments on each due date.

Addressing Frequently Asked Questions about Tonik Loans

To ensure customers have all the information they need, here are some frequently asked questions and their answers:

Legitimacy and Safety of Tonik Loan App

Tonik is a legitimate digital bank, regulated and licensed by the BSP, ensuring the highest standards of safety and security. Additionally, customer funds are protected by the Philippine Deposit Insurance Corporation (PDIC), providing up to ₱500,000 coverage for added peace of mind.

Topping up the Tonik Account

Customers can conveniently top up their Tonik accounts through various channels, including PESONet, InstaPay, local bank debit cards, and digital accounts like BPI and UnionBank. Additionally, over-the-counter options like CLIQQ, 7-Connect, Cebuana, MLhuillier, and SM Bills Payments are available for top-ups.

Changing Due Date and Loan Term

While Tonik allows flexibility in choosing the due date, customers can set it only once at the beginning of the application process. It’s essential for borrowers to carefully choose the most suitable due date and loan term during the initial application, as changes are not allowed once the loan is approved and repayment has commenced.


Tonik’s foray into the digital banking space has marked a significant step towards financial inclusion and transformation in the Philippines. By targeting the unbanked population and offering a diverse range of loans, Tonik has created a user-friendly and accessible platform for Filipinos to manage their finances effectively. As the digital banking revolution continues to gain momentum, Tonik stands at the forefront, empowering individuals to achieve their financial aspirations while fostering a future where banking is accessible to all.

Borrowers are encouraged to exercise financial responsibility, making the most of Tonik loans to pursue their dreams and build a secure financial future.

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CashLoanPH Changed status to publish 07/08/2023