Tala has partnered with several payment channels, which allows you to pick the repayment option that is easiest for you. If you want to pay safely from your home, you can choose to pay via GCash, Coins.ph, or PayMaya. If you don’t have these mobile payment apps on your smartphone, you can go to authorized payment locations such as 7-Eleven, M Lhuillier, and Cebuana Lhuillier.
Please make sure that you pay only using our authorized payment channels and retrieve your reference number from your Tala app.
Yes, you can make loan payments before your due date! In fact, paying your loan earlier can make you eligible for a reloan or a higher loan amount.
We understand that sometimes unpredictable circumstances can prevent you from paying on time. When you know that you may have trouble repaying on time, we would encourage you to pay down your loan as much as you can through partial payments and contact us as soon as possible at email@example.com.
When the going gets tough, Tala is there for you. Our Customer Advocates do their best to work with you to find a fair resolution. The most important thing is to reach out early if you have questions or concerns about repayment and to keep an open line of communication.
We strongly encourage you to select a due date that aligns with your income cycle and to repay your loan on or before your selected due date. You can also make partial payments to reduce your balance. However, if you aren’t able to pay by midnight on your due date, you will be charged a one-time 5% late fee on your outstanding balance. While other lenders charge a late fee for every day that you are late, Tala’s only charges a one-time late fee and the sooner you pay back, the better your chances of getting another loan with Tala.
Depending on the term of the loan, Tala charges a one-time service fee of 9.48 – 27.03% of principal (EIR**: 14.54 – 15.00%).
For example, for a borrower who receives ₱4,000 from Tala for our 61-day term, they would owe a 27.02% service fee of ₱1,080.95 and ₱59.05 in required tax for a total payment of ₱5,140.
In short, ₱4,000 ( borrowed amount) + ₱1,080.95 (service fee) + ₱59.05 (required Tax) = ₱5,140 (total payment)
**Effective Interest Rate (EIR): expressed as interest rate per month inclusive of taxes.
Only an Android phone and one valid ID are needed to apply for a loan. No bank account required. Tala also does not require collateral.