UnaCash, an in-app and in-store financial solutions provider, announces its latest Installment Loans service, providing customers with access to loans amounting from ₱3,000 to ₱50,000, along with flexible repayment terms between two to 12 months.

Installment Loans complements UnaCash’s current ‘buy now, pay later’ service that has since been upgraded to offer point-of-sale (POS) loans. Installment Loans are being offered to existing customers with outstanding credit history with UnaCash.

“UnaCash recognizes the increasing demand in the Philippine market for access to formal credit. We initially addressed this need with the introduction of POS loans in our platform in July 2023, and with the launch of Installment Loans, UnaCash aims to cater to more individuals with strong credit profiles,” said Aleksei Kosenko, president of UnaCash. “This provides more opportunities to upgrade their lifestyle, and manage unexpected expenses.”

The application process for Installment Loans is integrated in the UnaCash app, providing a seamless customer journey.  Aside from an additional one valid ID, this eliminates the need for additional verification documents for the approval process as these clients have already been pre-approved prior to availing the POS loans. Furthermore, disbursement is facilitated real time upon an application’s approval, following UnaCash’s recent partnership with AllBank (A Thrift Bank) Inc. that allows a seamless way to process this through InstaPay.

“We wish to promote responsible repayment behavior among clients through this service,” added Kosenko. “This also ensures that our commitment remains in providing accessible and beneficial financial solutions, catering to the evolving needs of every Filipino.”

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