I have been successful in borrowing money from Tala.ph for three (3) consecutive times. And like everyone else, I started with 1,000.00 pesos and gradually moved up the ladder to 4,500.00 pesos.

I did mention in my previous post that Tala has absolutely no sense of urgency. On their website, they promise one (1) day processing but you usually end up waiting up to ten (10) days just to get a reply. I’m not sure if this experience haunts others but to be fair, once you are approved, reborrowing is no longer a problem.

The secret to improving the loanable amount is to simply pay them on or before the due date. I usually pay half on the first payroll and then the remaining balance on the next payday. This proved to be a little circus because you have to plan ahead when to borrow if you like to pay as I did.

I borrowed 4,500 pesos last time and it went up to 5,175. That puts it to 675.00 pesos in interest for 30 days (at 15%). It’s rather difficult to swallow but sometimes, we gonna do what we gonna do.

As mentioned in my previous post, Tala is not something you can depend on when you want to buy a new phone. The interest rate is just remarkably high. Use it for emergency situations only and try to live within your means. Paying debt by making more debt is a vicious cycle and I learned my lessons the hard way.

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