Tonik Loan Review, App Download, How to Apply

Tonik is the Philippines' first digital bank, licensed by the Bangko Sentral ng Pilipinas (BSP) to operate as a full-fledged bank. With its innovative approach to banking, Tonik aims to transform the way people manage their finances, not just in the Philippines but across Southeast Asia as a whole.

Tonik specifically targets the unbanked population in the Philippines, which makes up a significant 44% of the country's population. 

Tonik Loan provides borrowers with access to unsecured cash loans without the need for collateral or a credit history. 

The loan application process is entirely digital, allowing you to apply from the comfort of your own home and receive approval within minutes. Once approved, you can receive your loan funds directly into your Tonik account within 24 hours.

Types of Tonik Loans

Tonik offers three main types of loans:

  • Quick Loan: This loan is ideal for small, short-term financial needs. Borrowers can apply for loans ranging from PHP 5,000 to PHP 50,000, with repayment terms of 6, 9, 12, 18, or 24 months.
  • Shop Installment Loan: This loan is designed for financing purchases at partner merchants. Borrowers can apply for loans ranging from PHP 3,000 to PHP 250,000, with repayment terms of 3, 6, 9, or 12 months.
  • Flex Loan: This loan offers the most flexibility, allowing borrowers to apply for loans ranging from PHP 5,000 to PHP 2.5 million, with repayment terms of 3 to 60 months.
  • Big Loan: A fully digital secured loan that requires a title of a condominium in Metro Manila as collateral.

Benefits Of Tonic Loan 

Tonik Loans stand out from traditional loan options in several ways:

  • Fast and Easy Approval: Tonik Loans boast a remarkably streamlined application process, with approval decisions granted within minutes. This efficiency is particularly beneficial in situations requiring immediate financial assistance.
  • Minimal Documentation: Unlike traditional loans that demand extensive paperwork, Tonik Loans require only a valid ID and proof of income, significantly reducing the administrative burden.
  • Flexible Payment Options: Tonik Loans offer borrowers the flexibility to choose payment dates that align with their financial schedules, ensuring convenience and peace of mind.
  • Transparent Fees and Interest Rates: Tonik Loans maintain a transparent approach, clearly outlining all fees and interest rates involved, empowering borrowers to make informed decisions.
  • No Collateral Required: Tonik Loans eliminate the requirement for collateral, making them accessible to a broader range of individuals, regardless of their asset ownership.

Accessing Tonik Loans is as simple as downloading the Tonik app, available on both iOS and Android platforms. The app boasts an intuitive interface and user-friendly design, making it easy to navigate and manage your loan applications.

How to Apply for a Tonik Loan

Here are the steps involved in applying for the Tonik Loan

Begin by downloading the Tonik app from the App Store or Google Play Store.

Once you've successfully created a Tonik account, you can proceed with your loan application by following these simple steps:

  • From the main dashboard, click on the "Loans" tab to explore the available loan options.
  • Choose the loan type that best suits your financial needs, whether it's a Quick Loan, Shop Installment Loan, Flex Loan, or Big Loan.
  • Use the slider to indicate the amount you wish to borrow, ensuring it aligns with the minimum and maximum limits for your chosen loan type.
  • Choose your preferred installment period, which determines the duration of your loan repayment plan.
  • Review the computed monthly installment based on your selected loan amount and installment period.
  • Click the "Continue" button to proceed with the application process.
  • Carefully review the loan summary, including the interest rate, processing fee, and total loan amount.
  • Initiate ID Verification: Select the type of government-issued ID you will present for verification. Click "Let's scan this ID."
  • Take a clear photo of your valid government-issued ID and upload it for verification. The verification process typically takes 24 to 48 hours. You will receive an email notification once your ID is verified.
  • Once your ID is verified, go back to the Tonik app and repeat steps one to five.
  • Identify the purpose of your loan by choosing from the provided options. Click "Next."
  • Indicate the industry in which you currently work.
  • Indicate the number of dependents you have.
  • Verify your current city of residence.
  • Provide an accurate estimate of your monthly income.
  • Indicate which bank you primarily use for your financial transactions.
  • Upload a valid document proving your income, such as a payslip or bank statement.
  • Tonik will review your application and notify you of their decision via email or in-app notification. The approval process typically takes a few days.

Upon approval, your loan proceeds are immediately transferred to your Tonik Account, providing instant access to funds.

Tonik Loan offers flexible payment terms, allowing you to choose a repayment schedule that aligns with your financial situation.

Interest Rates and Approval Process

Tonik Loan boasts competitive interest rates, ensuring affordability and value for money.

Tonik's approval process is swift and straightforward, with decisions typically made within minutes.

Requirement to Apply for a Tonik Loan

To be eligible for a Tonik Bank loan, you must meet the following criteria:

  • Citizenship: You must be a Filipino citizen.
  • Residency: You must be residing in the Philippines.
  • Age: You must be between 23 and 58 years old.
  • Employment: You must be currently employed.
  • Identification: You must have a valid government-issued ID and TIN ID.

In addition to the general eligibility criteria, there are specific requirements for certain loan types.

Accepted Valid Government-Issued IDs

Tonik Bank accepts the following valid government-issued IDs:

  • Philippine passport
  • Philippine driver's license
  • Unified Multipurpose ID (UMID)
  • Social Security System (SSS) ID
  • Professional Regulation Commission Identification Card (PRC ID)
  • Postal ID (card type)
  • Phil ID (National ID or PhilSys ID)
  • Digitized PhilHealth ID (plastic PVC card)
  • Voter's ID with two QR code


How do I get a Tonik account?

To get a Tonik account, you can follow these steps:

  • Download the Tonik app.
  • Create an account by providing your personal information.
  • Verify your identity by submitting a photo of your valid government-issued ID.
  • Complete your profile by providing additional information, such as your contact details and employment information.
  • Once your account is verified, you can start using all of Tonik's features, including applying for loans.

How long does Tonik loan approval take?

The Tonik loan approval process typically takes a few minutes, at most, 30 minutes.

How long does Tonik take to process?

The processing time for Tonik loans can vary depending on the loan type and the completeness of your application. The process can be completed 4pm that same business day. 


Tonik Bank has emerged as a revolutionary force in the Philippine financial landscape, offering a convenient, accessible, and secure platform for Filipinos to manage their finances. 

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