How Can Car Title Loans Actually Help You Save2 min read
Are you a car owner, searching for a loan that can take care of your expenses such as tuition fees, medical, emergency, home renovation, car repairs, or big-ticket purchases? Then a car title loan is the one thing you’ve been looking for, especially if you want to save on interest in the long run.
“How?”, you might ask. In this article, we’ll explain to you how a car title loan, specifically GDFI ORCR sangla loan, is the best option for a secured loan in the market today.
GDFI ORCR Sangla has one of the lowest interest rates in the Philippines
A car title loan is a kind of loan designed for car owners who need cash immediately, at a lower interest rate compared to most loan offers. This is possible because an ORCR sangla loan is a secured loan, which means a collateral is set up against the loan in case it defaults.
When you apply for an ORCR sangla loan, the loan provider makes use of your car title (ORCR) as collateral to process and disburse the cash you need according to the value of your car, in a fast and easy manner.
While personal loans might be a more popular option and are offered by more loan providers/banks, they normally have higher interest rates–7% more in a year compared to GDFI ORCR sangla loan. (1.89% personal loan interest rate vs 1.3% interest rate of GDFI ORCR sangla).
In other words, a loan of ₱100,000 will only have a monthly interest of ₱1,300 per month vs. ₱1,890 monthly interest from personal loans. That saves you ₱7,080 in a year.
GDFI ORCR sangla has a faster processing time on loans.
While most personal loans have 2-3 weeks processing period for loans, GDFI ORCR sangla has a quick processing time of 3-4 days from the moment requirements are submitted until the release of the loan. This is perfect for those emergency situations when you can’t afford to wait for weeks at a time.
Speaking of requirements, here are the documents needed for an ORCR sangla loan:
- 2 valid IDs
- Copy of OR/CR (Official receipt and Certificate of registration)
- Latest utility bill (electric or water)
- TIN (Tax Identification Number) ID
- 3 months payslip, Certificate of employment or proof of remittance (for OFWs)
- Business papers for Sole proprietors and Corporations
So an ORCR sangla loan doesn’t just save you money in the long term, it also saves you time in the short term. If these interest you, why don’t you try applying for one right now, here at eCompareMo.
Get the same low interest rate and enjoy fast processing time. You can learn more about ORCR Sangla loans by visiting our ORCR Sangla loans page at https://www.ecomparemo.com/personal-loan/orcr-sangla