Asialink Finance Corporation Review
Asialink Finance Corporation, a prominent player in the Philippines banking landscape, has been serving the needs of both businesses and individuals since its establishment in 1997. Known for its commitment to providing swift solutions, competitive interest rates, and flexibility, Asialink has become a trusted name in the lending industry.
With over two decades of experience, Asialink Finance Corporation has solidified its reputation as a reliable financial institution. This article delves deeper into the world of Asialink, exploring its various products and services designed to meet the diverse requirements of Filipinos.
Keep reading to discover the range of options Asialink Finance Corporation offers, from collateral loans to non-collateral loans and more. Whether you’re searching for business or personal assistance, Asialink is here to help you navigate your financial journey easily and conveniently.
Key Points
| Loan Type | Minimum Amount | Maximum Amount | Interest Rate | Loan Tenure | Requirements |
|---|---|---|---|---|---|
| Personal Loan | ₱50,000 | ₱500,000 | 1.75% per month | 12 to 36 months | Government-issued ID, Proof of income |
| Business Loan | ₱100,000 | ₱2,000,000 | 2% per month | 6 to 36 months | Business permit, Income statement |
| Auto Loan | ₱300,000 | ₱1,000,000 | 1.25% per month | 12 to 48 months | Car OR/CR, Government-issued ID |
| Truck Loan | ₱500,000 | ₱5,000,000 | 1.5% per month | 12 to 60 months | Truck OR/CR, Government-issued ID |
Is Asialink Finance Corporation Legitimate?
When considering a financial institution for your borrowing needs, the legitimacy of the company is paramount. In the case of Asialink Finance Corporation, you can rest assured that it operates within the bounds of the law.
Asialink Finance Corporation is a registered and legit lending company, as confirmed by its inclusion in the list of companies under the Securities and Exchange Commission (SEC).
To verify its credibility, you can refer to its registration number, A199711768, and certificate of authority, CA No. 570. These credentials affirm that AsiaLink Finance Corporation complies with the necessary regulations and has undergone the scrutiny of the SEC.
With its legitimate status, you can trust Asialink to provide you with solutions that align with industry standards and regulations. Whether you’re seeking an online loan for personal or business purposes, rest assured that Asialink is a reputable choice for your needs.
What Are Asialink Loans?
An Asialink loan essentially signifies the financial aid to qualified applicants. These loans serve as a crucial lifeline for individuals and businesses confronting financial difficulties, whether it’s for personal emergencies or business needs. Asialink’s dedication to offering flexible financial solutions has established it as a preferred option for Filipinos in need of prompt monetary assistance.
Furthermore, the company operates with branches across Metro Manila and Pasig, ensuring accessibility to its financing services. They understand that borrowers may occasionally face unforeseen circumstances or human errors, and this is where their flexibility and commitment to customer privacy come into play.
In times of financial distress, an Asialink loan via their online platform may also be a viable solution. Whether you need to get cash quickly, renew your loan, or explore brand-new loan options, Asialink Corporation is here to inform and assist. They also prioritize data and privacy policy, ensuring that your information remains secure throughout the loan process.
Types of Asialink Loans
This company understands that financial needs come in various shapes and sizes. To cater to the diverse requirements of its clients, the company offers a range of loan products. This section’ll explore the specific types of Asialink loans available, each designed to address distinct situations and needs.
| Type | Description | Amount | Repayment Term |
|---|---|---|---|
| Sangla OR/CR Loan | It is a secured loan option that allows borrowers to use their vehicle’s title, comprising the Official Receipt (OR) and Certificate of Registration (CR), as collateral to secure a loan. | Up to 70% of vehicle’s appraised value. | Maximum 48 months. |
| Vehicle Financing | This option is ideal for individuals looking to purchase a new or second-hand vehicle. | Based on the vehicle’s appraised value | Maximum 48 months. |
| Doctor’s Loan | It is an exclusive personal loan option available to general practitioners, ophthalmologists, and dentists. It provides financial support to medical professionals in their practice or for personal needs. | Tailored to specific needs | Maximum 12 months. |
These distinct loan products offered by Asialink Finance Corporation cater to a wide spectrum of requirements.
Whether you’re looking to leverage your vehicle’s value, purchase a vehicle, or are a medical practitioner in need of financial assistance, Asialink has tailored solutions to suit your needs.
The varying repayment terms further enhance flexibility, allowing borrowers to choose terms that align with their financial capabilities.
Loan Amount and Collateral
One of the key factors is the collateral-focused lending approach. In this section, we’ll explore how loan amounts are determined based on the collateral you provide. Whether you’re contemplating a Sangla OR/CR or another loan types, grasping the specifics of collateral and eligibility criteria is vital.
Determining Loan Amounts
Asialink primarily specializes in collateral-based loans, where your vehicle’s appraised value determines the loan amount. Let’s take a closer look:
With the Sangla OR/CR Loan, the amount you can borrow is directly linked to the value of your vehicle. Specifically, you can receive a loan amounting to as much as 70% of your vehicle’s appraised worth. So, for instance, if your car is appraised at a certain value, you’re eligible to secure a loan up to 70% of this appraised figure.
When it comes to Vehicle Financing, the loan amount you can access is determined by the appraised value of the vehicle you intend to buy. This means that the higher the value of the vehicle, the larger the potential loan amount you might be eligible for, based on its appraised value.
Eligibility Criteria for Vehicles
While Asialink offers flexibility in terms of loan amounts, there are specific eligibility criteria for the vehicles you can use as collateral:
For the Sangla OR/CR Loan, the eligibility is quite clear-cut: your vehicle must be a model from the year 2005 or later. This ensures that only relatively newer and likely more reliable vehicles are accepted as collateral for the loan.
In the case of Vehicle Loans, the eligibility can differ based on the specific vehicle you’re looking to purchase. Since different vehicles may have varying values and conditions, it’s advisable to directly engage with Asialink to understand whether the vehicle you are considering meets their criteria. This personalized consultation can provide clarity on the eligibility of your desired vehicle for the loan.
Lender’s collateral-based approach ensures that clients can access funding solutions even if they don’t have a strong credit history. By leveraging the value of their vehicles, individuals can secure the financial assistance they need, making it a practical choice for many Filipinos.
Interest Rates and Fees
Understanding the interest rates and associated fees is crucial when considering a loan application. Asialink lender prides itself on offering transparent and competitive rates, ensuring that customers have a clear understanding of their financial commitments. In this section, we will explore the interest rates and fees for various loan types provided by Asialink.
Let’s take a closer look at the interest rates and fees for each loan type:
| Loan Type | Interest Rate | Processing Fee |
|---|---|---|
| Sangla OR/CR Loan | 1.5% per month | Varies |
| Secondhand Car Loan | 1.5% per month | Varies |
| Doctor’s Loan | 1.75% per month | 5% of the loan amount |
Sangla OR/CR Loan
For clients opting for the Sangla OR/CR Loan, the monthly interest rate stands at a competitive 1.5%. However, it’s essential to note that the processing fee for this type of loan may vary. Therefore, it’s advisable to check with the lender for the specific processing fee associated with your loan.
Secondhand Car Loan
Similar to the Sangla OR/CR Loan, the Secondhand Car Loan also features an attractive 1.5% monthly interest rate. The processing fee for the Secondhand Car Loan may vary, so it’s advisable to inquire about the exact fee applicable to your loan.
Doctor’s Loan
For healthcare professionals in need of financial support, Asialink offers this option at a competitive monthly interest rate of 1.75%. Additionally, it’s essential to consider a processing fee, which amounts to 5% of the loan, when planning your financial commitments.
Please keep in mind that these interest rates and fees are subject to lender’s terms and conditions and may change over time. To obtain the most up-to-date information regarding rates and fees for your specific loan application, we recommend contacting Asialink directly.
Advantages of Choosing Asialink Corporation
When it comes to selecting a funding institution for your borrowing needs, you’ll want to consider several factors that can greatly impact your overall experience.
Asia link Finance is one of the companies that stands out in the lending industry for numerous compelling reasons. In this section, we’ll delve into the advantages of choosing Asialink for your financial requirements.
- Asialink provides a diverse range of loans, catering to different financial needs.
- Unlike some lenders, Asialink only requires the submission of your OR/CR, allowing you to keep and use your vehicle during the loan period.
- Asialink accepts a wide range of vehicles, including cars, trucks, taxis, multicabs, tricycles, and motorcycles.
- If your vehicle is 16 years old or older, Asialink still accepts it as collateral, making funding more accessible.
- With 26 years of operation, Asialink Finance Corporation is a trusted name, providing money support when you need it most.
Asialink Loan Requirements
When considering a loan application, it’s essential to understand the qualifications and specific requirements for each loan type. In this section, we will outline the general qualifications that apply to all loan applicants and provide detailed requirements for every loan that is available at the website.
General Qualifications:
To be eligible for business loan or other types, applicants must meet the following general qualifications:
- Filipino Citizenship.
- Age Range: between 21 and 60 years old.
- Stable Income: Applicants must have a stable source of income.
- Valid Contact Number.
- Collateral (for OR/CR loans): If applying for an OR/CR loan, applicants should have a vehicle as collateral.
Sangla OR/CR Loan Requirements:
For those considering a Sangla OR/CR loan, the following requirements are necessary:
- Two Primary IDs – Provide two primary identification cards.
- Proof of Billing – Submit a copy of your latest water or electric bill as proof of billing.
- Copy of OR/CR – Include a copy of the Official Receipt and Certificate of Registration for your vehicle.
- Proof of TIN – Present documented proof of your Tax Identification Number (TIN).
- Documented Proof of Income.
Depending on your employment status, provide one of the following:
- If employed, submit a Certificate of Employment, Company ID, latest three months payslips, and a payroll bank account statement.
- If self-employed (proprietor), provide a Mayor’s Permit, DTI registration, and three months of bank statements.
Used Car Loan Requirements:
If you plan to apply for a Used auto loan from Asialink, the following requirements are necessary:
- Borrower’s Valid IDs: Submit valid identification cards.
- Used Car Seller’s Valid IDs: Include valid identification cards of the used car’s seller.
- OR/CR of the Vehicle: Provide the Official Receipt and Certificate of Registration of the vehicle.
- Offer to Sell/Purchase Agreement: Submit the agreement document.
- Proof of Income.
Depending on your employment or business status, provide one of the following:
- For employed individuals: Certificate of Employment, payslips, Income Tax Return (ITR), and DTI registration for business owners, among others.
- Proof of TIN: Include your Tax Identification Number.
- Latest Picture of the Used Vehicle: Provide a recent picture of the used vehicle.
Doctor’s Loan Requirements:
For healthcare professionals considering such loan from Asialink, the following requirements apply:
- Professional Regulation Commission (PRC) ID. Provide a valid PRC ID.
- Proof of Billing. Include proof of billing.
- Three Months’ Bank Statement. Submit your latest three months’ bank statements.
Please note that additional requirements may be requested during the credit evaluation process. It’s advisable to consult with Asialink Finance Corporation to ensure that all necessary documents and qualifications are met for your specific loan application.
By understanding and fulfilling these requirements, applicants can streamline their loan application process and increase their chances of approval for the loan type that suits their financial needs.
How to Apply for an Asialink Loan
Applying for Asialink loan is a straightforward process that can provide you with the financial assistance you need. In this asialink loan review, we’ll guide you through the step-by-step application process, ensuring you are well-prepared to begin your loan journey.
Step 1: Check Your Eligibility
Before diving into the application process, it’s crucial to determine if you meet the eligibility criteria. Here are the general qualifications you need to meet:
- Filipino Citizenship
- Borrowers should be between 21 and 60 years old.
- You must have a stable source of income.
- A valid contact number is required for communication purposes.
- If applying for an OR/CR loan, you should have a vehicle as collateral.
Ensuring you meet these qualifications will save you time and effort during the application process.
Step 2: Fill Out Your Application Form
Once you’ve confirmed your eligibility, it’s time to fill out the application form. You’ll need to provide essential details, including:
- Your full name
- Email address
- Type of loan you’re applying for
- Source of income
Make sure to double-check the information you provide, as accuracy is crucial in the application process.
Step 3: Collate All Required Documents
Depending on the type of loan you’re applying for, you’ll need to gather specific documents. Here’s a general checklist to help you get started:
- Two primary identification cards (IDs)
- Proof of billing (a copy of your latest water or electric bill)
- Copy of the Official Receipt and Certificate of Registration (OR/CR) for your vehicle (for OR/CR loans)
- Proof of Tax Identification Number (TIN)
- Documented proof of income (varies based on employment status)
Be sure to have these documents ready before proceeding with your application.
Step 4: Submit Your Application
Now that you’ve filled out the application form and gathered the necessary documents, you’re ready to submit your application. There are two ways to do this:
- Visit the nearest branch
- Online application
It’s important to note that the application process is free, so be cautious of anyone requesting a fee for assistance.
Step 5: Await Approval and Communication
After submitting the following application, Asialink Finance Corporation will review your documents and assess your eligibility. If your application is approved, their personnel will get in touch with you to provide the good news and instructions on how to claim your loan proceeds.
For any questions or concerns regarding your loan application, you can reach out to Asialink via the following channels:
- Loan consultants. Asialink has accredited loan consultants across the country. They do not charge any fees for their assistance.
- Telephone. Contact Asialink at the following numbers:
- Loans department. (02) 8631-4380 / 09178628657
- Customer service. 09178473639 (Globe) / 09088868780 (Smart)
- Email. Reach out to Asialink via email at [email protected]
By following these steps and staying in communication with Asialink Finance Corporation, you can navigate the loan application process smoothly and efficiently, bringing you one step closer to securing the support you need.
Conclusion
Asialink Finance Corporation, a stalwart in Philippine non-bank lending since 1997, embodies accessibility, adaptability, and trustworthiness. Committed to serving the unbanked and underserved, it stands as a resilient partner during challenging times.
As you embark on your path to financial stability, remember that Asialink Corporation is a trustworthy ally dedicated to helping you navigate your financial aspirations with ease and confidence.
Frequently Asked Questions (FAQs)
How are loan proceeds disbursed?
Loan proceeds are typically disbursed through checks or bank deposits. Asialink Finance Corporation will provide further instructions on the disbursement process once your loan is approved.
Do I need a checking account to apply for a loan with Asialink?
No, company doesn’t require borrowers to have a checking account. You can receive your loan proceeds through other methods, such as checks or bank deposits.
What are the repayment methods for Asialink loans?
The lender offers various repayment methods, including over-the-counter payments, payment through accredited payment centers, and bank deposits. The specific options will be discussed during the loan approval process.
Can I renew my loan with Asialink?
Yes, Asialink allows loan renewals, making it convenient for borrowers to continue their financial arrangements. However, it’s crucial to adhere to the company’s renewal policies and terms to avoid any penalties or obligations.
What if I have a complaint or concern about Asialink’s services?
If you have any complaints or concerns about lender’s services, don’t hesitate to reach out to their customer service team. They will assist you in resolving any issues or addressing your inquiries promptly.
Does Asialink offer loans without collateral?
Yes, Asialink provides loan option that doesn’t require any collateral. These non-collateral loans can be a suitable choice for individuals who prefer not to pledge assets for their loans.
What is the penalty for late payments?
The penalty for late payments may vary depending on the terms and conditions of your loan agreement. To avoid any penalties, it’s essential to pay back on time and stay informed about the company’s policies.
Are there loans available for vehicles made from 2005?
Corporation primarily offers loans for vehicles made from the year 2005 onwards. If you have a vehicle made before 2005, it’s advisable to contact Asialink directly to inquire about eligibility and available loan options.
