Things You Need to Know about SALPay’s Easy Loan


Everyone dreams of financial freedom and of the ability to budget all kinds of expenses in advance. Through Easy Loan, SALPay wants to help you set and achieve your financial goals.

Introducing Easy Loan

Sometimes, despite all your budget plans and savings, you’ll need additional help to reach a goal or make ends meet. Traditional lending companies are a hassle to deal with and often make potential borrowers jump through unnecessary hoops to get access to credit.

SALPay solves this problem through Easy Loan, a fast and convenient way for you to avail of a personal loan. With Easy Loan, you can borrow as much as you want and have your payments debited directly from your SALPay account. All loans come from authorized lending companies on the SALPay platform.

After an amazing 2017, we’re adding more lenders to SALPay in the coming weeks!

We figured it’s high time to review the answers to some of the most common questions that potential borrowers ask: (1) How do I apply for an Easy Loan? (2) What are Easy Loan’s application criteria? (3) How do I repay an Easy Loan?


1. How do I apply for an Easy Loan?

Step 1

Sign into your SALPay app then click the Apply button next to Easy Loan.


Step 2

Enter the amount you need to borrow (minimum of PHP 5,000), select the reason why you are applying for a loan, then choose how long you want to repay your loan. Select the radio button to indicate your agreement to share your personal details to SALPay’s lending partner then click Borrow Money.



Step 3

The lending partner will then view your request and your credit history and might make an offer with (1) the amount they’re willing to let you borrow (2) the loan terms, and (3) the interest rate.

Step 4

Review your loan offers and terms and accept the one that fits your needs!

After you accept a loan offer, the loan amount will be credited to your SALPay account immediately. If the lending partner choose not to make an offer, your request will automatically expire in 7 days.

2. What are Easy Loan’s application criteria?

If you are receiving your salary through SALPay, your application details will be automatically provided. If you have an existing loan on the platform, you will not be able to apply. If you have a bad repayment history, you will also lose the ability to borrow money.

3. How do I repay an Easy Loan?

Each payday, your repayment will be deducted automatically from your SALPay account balance.

A quick note on responsible borrowing
Great power, the say, comes with great responsibility. SALPay users consider Easy Loans as a power they can summon every time the need arises. This thinking makes them conscientious and trustworthy borrowers — the kind that doesn’t loan more than they can afford to pay back.

Before applying for an Easy Loan, or any other type of loan for that matter, it’s a good habit to ask yourself: Is the loan for something you really need or for something you merely want? Also: Is your need for cash urgent or can it wait until you have saved enough? Responsible borrowers usually limit their loan to what they can repay with a maximum of 30% of their net income. They don’t put all of their earnings to loan payments, a practice that enables them to always stay on top of their finances.