FAQs
Welcome to the Kwik Funds PH FAQ page! Find quick answers to common questions about our nationwide loan assistance services, including Sangla OR/CR, Sangla Titulo, and Car/Truck Purchase Financing. Browse the topics below to get the information you need. If your question isn’t here, feel free to contact us!
– Must be a Filipino citizen
– 21-65 years old
– Must have a documented source of income
– Must have a landline or mobile number
– Only cars 13 years old and newer are accepted
– Vehicle should be in good physical and running condition
– Japanese, Korean, American, and European models are accepted
– Trucks 10 years old and newer are accepted (based on OR/CR 1st registration)
– Vehicle is in good physical and running condition
– Japanese, Korean, and American models are accepted
– Acceptable up to 12 wheeler trucks (>12 wheeler trucks are subject for approval)
The main benefits are potentially securing a lower monthly interest rate, which can lead to lower monthly payments, or obtaining different repayment terms (longer or shorter) that better match your current financial capacity. It’s about making your existing vehicle debt more manageable.
To qualify for a loan, applicants must generally be Filipino citizens aged between 21 and 65 years old. The maximum age limit (usually 65) typically refers to the applicant’s age when the loan is fully repaid or matures. While the legal age to enter a contract in the Philippines is 18, the common operating range for loan approval often starts at 21. Specific requirements can occasionally vary based on the lender and the specific loan product.
Our interest rates vary between 1.25% to 1.4% depending on several factors, including:
– The specific loan product (e.g., Sangla OR/CR, Sangla Titulo, Car Financing, Truck Loan).
– The loan term (how long you’ll be paying).
– The type, age, and appraised value of the collateral (for secured loans).-
– The borrower’s creditworthiness and overall financial profile.
– Current market conditions and ongoing promotions.
*There is a possiblity for real estate interest rates to be lowered to 1% in order to be competitive
Refinancing might involve certain fees from the new financing institution, such as processing fees, and potentially costs associated with cancelling the old loan’s security registration and setting up the new one. All applicable fees should be clearly disclosed by the lender before you commit.
The loan amount depends heavily on the type of loan and the assessed value of your collateral (vehicle or property). Through our financing partners, amounts can range significantly, potentially reaching up to ₱10 Million PHP for property title loans, subject to the lender’s final approval and valuation.