Tonik loan app review: interest rate, is it legit - Startuppreneur

Tonik loan app review: interest rate, is it legit

Tonik bank loan app is one of the best loan app in Philippines.

You can receive instant loan without collateral or paper work from this app and you don’t need to leave your location before you will receive from this loan app, all the processing will be done on your phone. With this loan app you can obtain up to P50,000 at a go.


What is Tonik bank loan

Tonik bank loan is a loan app develop by Tonic bank, a neo bank in Philippines. Apart from obtaining loan, you can also make payment and receive money on this app. and you know what they have one of the lowest bank charges in Philippines.

Requirements to obtain loan form Toni bank

Before you can obtain loan from this app there are some requirements you need to meet up with which are

  • Be above 23 years of age
  • Reside in Philippines
  • Have regular source of income
  • Have good credit score
  • Have a government issued ID card
  • Have smart phone with which to download the loan app

Once you meet up with the following requirement you can go ahead and apply for this loan

How to apply for Tonik loan app

The first step to take is to head over to play store and download the loan app

Register with your name, bvn and other details
Once you are done with registration you will be login to your account

On your dashboard locate and click on loan


There you will see amount of loan you are eligible to obtain

Click it and wait for disbursement

How much you can obtain from Tonik loan app

With Tonik loan app you can obtain up to P50,000 loan without collateral or paper work.

As a first timer you will not get up to this but as you continue to use the app the amount of loan you can obtain will be increase.

Tonik loan interest rate and repayment period

Tonik loan interest rate is between 5% to 8% per month and 84% per annum. This interest rate is depend on the amount of loan obtain and the repayment period.

Their repayment period is between 3 months to a years also depend on the amount of loan obtain.

Repaying your Tonik loan

To payback your loan head over to your dashboard

click on loan repayment

There you will see deferent option to pay back your loan

Click on one and make payment

Once you make payment it sill reflect on your dashboard

If it does not you should contact them.

What will happen if I default or refuse to pay back

If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.

If you abscond, your name and bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in until you pay back and clear your name with credit bureau.

Trust me this process is usually time consuming, your best bet is to pay your loan as at when due.

Is Tonik loan app legit

Yes tonik loan app is legit, they have given loan to many people in Philippines. They are license by appropriate authority such as SEC (Security Exchange Commission)

Our final verdict on Tonik loan app

As stated above Tonik loan app is a legit loan app, they will surely give you loan and you have notting to fear they are license by SEC. The only problem with this loan app is that their interest rate is very high, imaging 8% interest rate per month.

I will advice you to exercise caution when applying for this loan, obtain loan that you can pay back to avoid embarrassment.

Tonik loan app contacts

Phone number: +63 2 5322 2645

Email address: [email protected]

Tonik Bank Philippines website:

Above is how to apply for tonik loan, as stated above only obtain loan that you know you can pay back,.try to avoid had I know and embarrassment.

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