Flash Loans and Simple Loans. What exactly is SALPay Loans?

Flash Loans and Simple Loans. What exactly is SALPay Loans?

What exactly is an loan that is easy? Easy Loan is really a variety of Loan provided by SALPay with greater quantities and longer terms. Borrowers can ask for a loan simply by saying the total amount, function, and terms. The lenders will then have the ability to counter offer or reject the demand associated with debtor. The offer could be not the same as just just just what the debtor has sent applications for. The total amount is higher or lower while the terms may be smaller or longer. The lender’s decision when it comes to loan provides will be based upon the work information on the debtor.

Am I qualified to avail of that loan? Presently, just SALPay Wallet users who’re active workers while having had the oppertunity to get 2 wage disbursements meet the criteria to avail of that loan. To test if you’re qualified, please begin to see the screenshots below:

If you’re not qualified, whenever you click “Apply”, you will come across a mistake message displaying “No available loans on your own account”.

You click “Apply”, you will be directed to the loan application page if you’re qualified, when.

How can I make an application for a Flash Loan? You can submit an application for a Flash Loan making use of the SALPay software. To borrow funds, get on your SAL Pay software. Select Flash Loan and choose the total amount you want to borrow from 500 to 3000 PHP. A screen will pop out displaying all your loan details after choosing an amount. The amount you chose will be disbursed instantly to your SALPay wallet upon accepting the Terms and conditions.

Whom provides Simple and Flash loans? Flash Loans and loans that are easy given by third-party lenders — not by your manager or by SALPay/Salarium. SALPay simply acts once the platform for the partner loan providers to get applications, confirm identities of prospective loan providers, and gather loan repayments. This arrangement allows you to submit an application for and repay loans anytime and anywhere — utilizing simply your smartphone.

How can I make an application for an Simple Loan? You can submit an application for an Simple Loan using the SALPay application. Indication in, click on the Apply switch under Simple Loan, fill within the information on your loan click and request Request Loan.

The length of time does it simply take for loan providers to examine my effortless Loan application? Loan providers have actually as much as 1 week to review your Loan that is easy application it expires. When your application does not get authorized after seven days, you are able to attempt to use once again. Take note that the approval of Easy loan requests entirely varies according to our partner loan providers.

Why did my Easy Loan request expire?

A simple Loan application expires whenever our partner lenders aren’t able in order to make a 2600 installment loans Washington loan offer that suits your preferences. Expiration will not suggest rejection. You can easily nevertheless make an application for an Easy Loan once more after your very first request expires.

Why had been my Easy Loan request rejected?

The Easy Loan demand is refused in accordance with the lender’s discretion. When this occurs, you might constantly decide to try once again with another quantity or terms.

How do you cancel my Simple Loan application?

You can easily cancel your pending Loan that is easy application pressing the “Cancel” button below your application for the loan as exhibited regarding the SALPay software.

Should you not would you like to accept financing offer, click “Reject.” Take note which you have already accepted that you can longer cancel or reject a loan offer.

How exactly to accept or reject effortless Loan provides from loan providers?

You will get a message containing the conditions and terms of that loan offer the moment a loan provider chooses to provide you with one. You may additionally get multiple loan offer.

In the event that you completely accept the stipulations of that loan offer, click “Approve.” If you get numerous loan provides, approving one of those will immediately reject others. This means that you will be limited by only 1 Simple Loan agreement.

That you borrowed will immediately be reflected in your account balance after you approve a loan offer, the amount of money. You can no further cancel that loan only at that point therefore please review your loan provides sensibly.

Whenever and just how do the Easy is received by me Loan cash?

Once you accept that loan offer, how much money which you borrowed will straight away be mirrored in your bank account balance. You can easily no further cancel that loan only at that point therefore please review your loan provides sensibly.

How can I see the facts of my Easy Loan?

The facts of one’s Easy Loan, which include (1) the key loan quantity, (2) interest, (3) outstanding stability, (4) next quantity due, and (5) deadline, could all be available at the next.

  • SALPay app
  • Head to Residence Screen > Simple Loan > View

Just how do I repay my Easy Loan?

Your balance due is automatically deducted around your deadline as suggested in your loan contract as well as in the Next repayment Due percentage of your loan summary. Please ensure your account has balance that is sufficient protect your payment.

Imagine if my account balance just isn’t adequate to cover my repayment due?

When you yourself have that loan payment due but don’t have sufficient stability in your SALPay account, you are able to fund your SALPay wallet by doing on the countertop deposit at any Unionbank branches.

For over the counter deposit, please submit your UB EON account quantity which can be seen in the part menu of the SALPay application.

The device shall gather the re payment from your own account every 12 midnight until your repayment is complete. Ensure that you repay your effortless Loan on time and energy to keep a good credit rating and prevent penalty fees.

Exactly How can I repay my Easy Loan if I resign or have ended?

As your loan repayments are deducted from your disbursed salary, resigning or getting ended will minimize wage disbursements, making your outstanding Simple Loan stability, when you yourself have any, unpaid. You are able to repay your loan by funding your SALPay wallet by doing throughout the countertop deposit at any Unionbank branches.

For over the countertop deposit, please submit your UB EON account quantity that is seen regarding the relative part menu of one’s SALPay application.

The machine shall gather the re re re payment from your own account every 12 midnight until your payment is complete.

Will my boss be held accountable for my loan if we cannot produce a payment?

Your company shall not be held accountable for the loan if you cannot make a payment. The terms regulating your loan is one thing you have got myself accepted. This frees your boss from any responsibility to settle your balance in the case you lose the capability which will make a payment.