Finance Home Improvement Tips and How To's

Need Cash for Home Improvement?

You’ve been itching to do some home renovation since last year and started to save some funds but since budget for the past few months were tight, your updated total savings are still insufficient. Going crazy, huh?

Home Improvement

Well, have you explored other avenues such as Personal Loans?

Everyone should be given a chance to beautify their homes or at least make it a livable one. There are those who have suffered calamities, their homes destroyed, thus need to rebuild or fix a portion. We may have different reasons, but the boiling point is to satisfy, meet our needs or to get lives back in order.

Yes, sometimes, the government may be able to assist financially but most often, calamity funds are not enough. So, what one must do? Seek out other options, of course!

Once you get your hands on a computer with stable internet connection, check out info related to cash loan Philippines and you will be presented with a myriad of possible resources on how you can get your hands on that most needed money.

For those who are not in the calamity category, there might be a bigger hope for you! You can get a salary loan or bank loan to renovate your homes but you have to fit certain requirements or criteria.

But first, What Is A Personal Loan?

A Personal Loan offers fast cash advance that doesn’t need collateral which is also called “Unsecured Loans”. The type that needs collateral such as your car’s OR/CR is called “Secured Loans”.

Either way, you can get your quick cash provided you can submit necessary documents listed below.

Reasons may vary for exploring Personal Loans such as our topic here, Home Renovation. Some would need cash to pay for tuition fees, buy a desktop computer, pay an existing credit card loan, appliances, travel and so on and so forth.

Unsecured loans usually have a lower loanable amount yet higher interest rate. Well, come to think of it, the bank will lend you money without holding on to something valuable and they have the higher risk of losing money.

While Secured Loans, since there’s collateral, the bank tend to give you a higher loanable amount on a lower interest rate.

These can be repaid in several options: 6, 12, 18, 24, 36 or 48 months.

Basic requirements include the ff:

  • Being a resident of the Philippines

  • Must be of legal age, 21 years old or older

  • Financial capabilities or history

  • Landline or mobile phone

  • Tax Identification Number (TIN) and SSS/GSIS No.

  • Valid IDs (government and/or private)

  • Certificate of Employment

  • Latest Income tax return (ITR)

  • Other pertinent documents

You can also check further or complete details about online loan Philippines, this way, before availing such loans, you’ve already armed yourself with information.

Once you have gathered all documents and submitted, the waiting period for documentation, assessment or evaluation and approval begins. This is the time to cross your fingers and pray hard, so you can finally get that home improvement started.

Hurray, you got approved! Congratulations! Time to celebrate! But wait, please don’t touch that cash loan or you’ll end up short again hahahaha..

This is the time to take out that list you made and call your trusted carpenter, so you can at last get your dream home fixed!

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