• Home
  • About
  • Privacy Policy
  • Disclaimer
Sunday, December 3, 2023
ZOBUZ
Send Message
Contact Us
  • AutoMobile
  • Business
    • Finance
    • Insurance
    • Startup
  • Entertainment
    • Celebrity
    • Games
    • Movies
    • Music
  • Fashion
  • Health
    • Dental Care
    • Food
    • Fitness
    • Skin Care
  • Law
  • LifeStyle
    • Home Improvement
    • Houseplants
  • News
    • Politics
    • Science
    • World
  • Sports
  • Tech
    • Crypto
    • Graphic Design
    • Digital Marketing
  • Tips
    • Apps
    • Gadget
    • Education
    • Review
  • Travel
No Result
View All Result
  • AutoMobile
  • Business
    • Finance
    • Insurance
    • Startup
  • Entertainment
    • Celebrity
    • Games
    • Movies
    • Music
  • Fashion
  • Health
    • Dental Care
    • Food
    • Fitness
    • Skin Care
  • Law
  • LifeStyle
    • Home Improvement
    • Houseplants
  • News
    • Politics
    • Science
    • World
  • Sports
  • Tech
    • Crypto
    • Graphic Design
    • Digital Marketing
  • Tips
    • Apps
    • Gadget
    • Education
    • Review
  • Travel
No Result
View All Result
ZOBUZ
No Result
View All Result
Home Finance

A Guide to Installment Payments: How Gadget Loans Work

Barry Lachey by Barry Lachey
May 27, 2022
in Finance
0 0
Loans
0
SHARES
1
VIEWS
ShareShareShareShareShare

Are you enrolled in online classes? But what if you do not have the budget to cover the gadgets? No need to worry; it is now possible for students to apply for an installment loan for any gadget. These include phones, laptops, and tablets. As long as they are used for educational purposes, they will be good assistance.

Installments come in various sizes. For example, you can pay for a laptop installment, tablet installment, and similar gadgets in this method. But, how do gadget loans work exactly? Is it like a personal loan? Find out more in this article. Let’s go!

Eligibility Requirements

Parents, guardians, and students of legal age can apply for a gadget loan. One needs to follow the criteria below:

  1. Parents, Guardians, or Benefactors
    ○ Citizen of legal age with established repayment capacity
    ○ Must have a good credit history
    ○ Co-borrowers shall be required if the principal borrower is more than 60 years old.
    ○ Must be a permanent resident for at least 2 years
  2. Co-borrower
    ○ Must not be more than 60 years old
    ○ Must have a good credit history
    ○ Must be a permanent resident for at least 2 years
  3. Student
    ○ Must not be more than 50 years old
    ○ Holds a certificate of good moral character
    ○ Non-scholar in a private pre-school, primary or secondary schools
    ○ Scholar students whose tuition fees are not fully covered by the scholarship

Interested applicants must also prepare additional paperwork. These documents may include your payslip, latest tax return, photocopies of government IDs, etc. When you fill up the form, processing may take at least 5 calendar days.

Loan Terms

The loan terms here usually involve an amount of PHP50,000.00 per borrower. Duration is limited to a short-term period if paid within 1-year as noted in a 360-day promissory note. If you want long-term loans, it has a maximum period of 3-years with a 1-year grace period. All terms have a fixed interest rate of 5% of the entire loan term. Failure to pay may result in a 24% penalty per annum. Penalties can vary depending on your specific circumstances.

Managing Gadget Loans

One advantage of gadget loans is that you will not worry about the budget for the device. However, the actual gadget you are going to buy will vary depending on the availability. So remember: you are getting the budget, not the actual gadget. Another thing to look out for is the loan terms. While some may have their first loan through their gadget loan, managing credit score is another factor.

As with any loan, your payment history will determine how likely you are to get better loans as with any loan. If you do not pay on time, you will be less likely to be approved—budget your money, both within and outside of the loan.

Conclusion

Installments are there to cover your needed finances. The process in gadget loans is the same as with any other loan. Handling such payments will be a test of your financial habits. When you know where your money is, you can enjoy better perks.

Barry Lachey
Barry Lachey

Barry Lachey is a Professional Editor at Zobuz. Previously He has also worked for Moxly Sports and Network Resources “Joe Joe.” he is a graduate of the Kings College at the University of Thames Valley London. You can reach Barry via email or by phone.

Tags: Loans
Previous Post

Permits 101: Recommended Licenses and Permits for Philippine Businesses

Next Post

How to Get Better at Driving

RelatedPosts

Union Budget 2023: Updates You Should Not Miss
Finance

Union Budget 2023: Updates You Should Not Miss

November 28, 2023
How Transaction Simulation Enhances Financial Security
Finance

Risk Mitigation: How Transaction Simulation Enhances Financial Security

November 28, 2023
What To Watch Out For In Geocoding Api Pricing
Finance

Hidden Costs: What to Watch Out for in Geocoding API Pricing

November 28, 2023
How Trade Credit Insurance Saves Companies From Bankruptcy
Finance

Avoiding Disaster: How Trade Credit Insurance Saves Companies from Bankruptcy

November 23, 2023
The Power Of Investment Education
Finance

The Power of Investment Education

November 22, 2023
A Beginner'S Guide To Navigating The Oil Trading Seas
Finance

Strike Black Gold: A Beginner’s Guide to Navigating the Oil Trading Seas

November 22, 2023
Next Post
How To Get Better At Driving

How to Get Better at Driving

ADVERTISEMENT
  • Ashlea Death

    Pilot Ashlea Albertson Dies at age 24 in Tragic Circumstances

    0 shares
    Share 0 Tweet 0
  • Crash that Killed Jori Jones Happened after their SUV Failed to Stop at Sign, Patrol says

    0 shares
    Share 0 Tweet 0
  • Julia Roberts shares Rare Photo of Her Twins in honor of their 19th Birthday

    0 shares
    Share 0 Tweet 0
  • Savannah Chrisley Is ‘Sobbing’ as Court Decision Means She Is ‘One Step Closer to Getting Mom and Dad Home’

    0 shares
    Share 0 Tweet 0
  • Prince William had ‘fallout’ with Pal Rose Hanbury over Affair Rumors

    0 shares
    Share 0 Tweet 0
Navigating Career Options With Limited Experience

Navigating Career Options with Limited Experience: Tips for New Graduates

by Lisa Eclesworth
September 23, 2023

Finding a job is a challenging task. It can be downright exhausting. That task may feel even more daunting if...

Inspect Used Machinery

5 Tips to Identify Possible Red Flags as You Inspect Used Machinery

by Barry Lachey
February 21, 2021

Many times as you buy industrial equipment, it can be a challenge to find the right used machinery with proper...

Sheds

A Closer Look at the Growing Popularity of Outdoor Sheds

by Piran Tarapore
February 17, 2022

Do you want to install an outdoor shed, but you're not sure if it is the right choice for you?...

Domestic Violence Defense In Marietta Ga

Domestic Violence Defense in Marietta GA

by Barry Lachey
November 22, 2022

Whether you are the victim or you have been accused of domestic violence, you can benefit from a strong defense....

ADVERTISEMENT
  • About
  • Contact Us
  • Disclaimer
  • Privacy Policy

© 2023 All Rights Reserved ZOBUZ

No Result
View All Result
  • AutoMobile
  • Business
    • Finance
    • Insurance
    • Startup
  • Entertainment
    • Celebrity
    • Games
    • Movies
    • Music
  • Fashion
  • Health
    • Dental Care
    • Food
    • Fitness
    • Skin Care
  • Law
  • LifeStyle
    • Home Improvement
    • Houseplants
  • News
    • Politics
    • Science
    • World
  • Sports
  • Tech
    • Crypto
    • Graphic Design
    • Digital Marketing
  • Tips
    • Apps
    • Gadget
    • Education
    • Review
  • Travel

© 2023 All Rights Reserved ZOBUZ

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.