A small-loan of € 300 for only € 5?
If you have received an invoice that you did not expect, you need to fix an appliance, if you want to give yourself a break or just need extra money in a timely manner you are in luck. Do you know Tonga Bank and its instant microloans system?
Tonga Bank is a financial company that grants € 300 small loans for only € 5 to its new clients. And as trust in their customers increases, the advantages grow.
Its system is based on a confidence rating, the higher this rating is, the less interest is paid and the greater the amount of money that can be requested. Once you are a customer, you can request up to € 600. In addition, Tonga bank gives you the option of being able to return it in 60 days . Twice as long as most of your competition. Everything is done through the internet through a few simple steps. In this way, you can count on your money in just 15 minutes.
What is Tonga bank?
Tonga bank has been providing financial products since 2007. It is based in London and was named “number one company” by the Sunday Work newspaper, listing the fastest growing technology companies in the United Kingdom. It has offices in other countries such as South Africa and Poland.
Thanks to customer satisfaction and the service it provides, Tonga bank has become one of the credit companies best valued by users. They use an automatic system to make an evaluation of the applications almost instantaneously. In this way, they ensure that they grant the small-loans to those people who can really pay them. Therefore, transparency is one of its essential requirements. They don’t want to surprise their customers at the last moment. From the beginning they know how much they will be paying for their small-loans.
How does Tonga Bank work?
The system is as simple as:
- Choose the amount you need and when you want to return it. Remember that if you are a new customer, you can only order € 300, but the maximum will be € 600.
- Fill in the form, indicating your personal information, account number and bank card.
- You receive an SMS approving or denying you the small-loan.
- If the application is approved in 15 minutes you have the money in your bank.
As you read. It’s that simple and without deception. You can know the costs of your small-loan from the beginning to be able to organize and not have to assume economic situations that you cannot cope with. For example, if you want to order € 220 to return them in 40 days, the price will be € 225. Remember that for being a new customer, your small-loan will cost you only € 5.
Who can request a small-loan with Tonga Bank?
- Residents in Spain.
- Holder of a bank account and a debit card.
- Have a mobile number and email.
- Justify fixed income.
Tonga bank wants to make sure to grant a small-loan to those who can really pay it. That is why they send each applicant three documents that must be read. These are:
- SECCI standard: European regulations on consumer credit.
- The particular conditions.
- General terms and conditions of Tonga Bank.
Once you have read these documents and are aware of what it means to ask for a small-loan, you should continue with your request only if you know that you will be able to pay it on the chosen date.
Can I extend my return term?
If for some reason the date arrives on which you have to repay your small-loan and you cannot, Tonga bank gives you the option to request an extension for it. Enter your customer area, before the expiration day, and request a postponement. You can request two extensions at most. Never being able to exceed 30 days from the date of your term. That is, you can extend it for a month more. If your small-credit expires on March 30, you can postpone it at most until April 30.
Of course, everything has a cost. The price of each extension is € 15 plus the deferred interest indicated in the conditions of your loan.
How can I return my small loan?
Tonga bank will directly charge your amount on your debit card. Or you can also pay by deposit or bank transfer to one of the banks that Tonga bank works with. In this case you must indicate your reference number of your loan. You will find this information in your user area or in your loan confirmation email. You should keep in mind that many times transfers are not immediate, and more so when they are between different banks. This is why it is better to do it a few days in advance.
Can I return my small credit first?
Yes. Also, if you do you save money because you pay only the interest you have had so far. It is quite fair. You only pay for the days you have enjoyed the money.
What happens if I don’t pay my small loan?
If, after the two extension options provided to you, you cannot pay your small-credit within the established period, Tonga bank will impose a penalty of € 20. In addition, it will charge you a daily interest that will depend on the customer rating you have. This interest is indicated in the conditions of your loan.
Tonga bank puts all kinds of facilities so that its customers can face the payment of their small loans precisely to avoid such situations. In a quick way the amount of your loan will grow for the penalties. And if you don’t reach an agreement you will become part of a list of delinquents. This will close the doors to you to request more loans with other entities of the competition and banks. This is why it is advised that before requesting a small-loan you have very clear that you will be able to pay it without any problem within the stipulated period.
Opinions about Tonga bank
Do I have advantages for being a Tonga bank customer?
Yes, Tonga bank rewards the loyalty and commitment of its customers. Once your small-loan has been repaid, you can request another one and thus you will be upgrading. The higher this category of client, the less interest you have to pay for your loans and the greater the amount you can request.
Tonga bank has several categories of its confidence rating:
- “Trust” : you can apply for a loan of up to € 400 and a 10% discount.
- “Trust Plus” : loan of up to € 500 and a 20% discount.
- “Premium” : loan of up to € 600 and a 30% discount.
In this way, they reward those customers who show their responsibility in the return of their small-loans. It is also important that you know that the procedures for requesting a loan are becoming increasingly simple and fast.
Tonga bank has the “online trust” seal, which guarantees transparency, security and confidence in the services it provides, since companies must comply with an ethical code that certifies this trust.
For all this, Tonga bank has become a reference when requesting a small-loan. Its transparency, ease in its system and rapidity in obtaining money make its users have a high degree of satisfaction. Likewise, the trust rating system strengthens the link between Tonga bank and its customers.
Tonga bank Summary
Summary: The offer offered by Tonga bank for your first online loan is to pay only € 5 of interest, being able to return your credit in 30 or 60 days. The first loan with these conditions can only be a maximum of € 300.