While the Philippines remains at the lowest ranking in terms of average salary in South East Asia, the average working Filipino may find it more and more difficult to make ends meet. And with the global pandemic stretching to Q3 of 2021 and imminent quarantines at every turn, there seems to be no end to the financial burden for an average working Filipino’s daily life. UnaPay Salary Loan offers a lending hand in times of emergencies and financial challenges.
Understanding these challenges, UnaPay establishes partnerships with companies and businesses in order to offer UnaPay Salary Loans as a form of financial assistance to their employees as they continue to seek ways to assist their employees with their financial needs.
What is UnaPay Salary Loans?
UnaPay Salary Loan is a type of loan that employees can avail through their company. The amount of the loan may vary, depending on the employee’s net salary. Through their company’s partnership with UnaPay, employees can borrow from ₱2,000 to ₱100,000 that they can repay in installments from 2 to 12 months. The loan terms are flexible, with a low interest rate of 5%.
No collateral is needed to apply for a loan in UnaPay. As long as the employee is considered a regular employee of the company, 21 to 60 years old, they can apply for an UnaPay Salary Loan.
The employees would also find it easier because there is no required number of contributions, less stringent paperwork, and faster approval and disbursement of loans.
How to Apply for UnaPay Salary Loans?
The company HR (Human Resources) or business owner can get in touch with UnaPay through Salary Loans Online to schedule an initial meeting with the team where the requirements, business and employee needs, and company’s processes will be discussed.
Once these details are finalized, the company will be onboarded and UnaPay Salary Loans can be integrated into the company’s process. This process would vary depending on how complicated the company’s processes are and the completeness of the required documents.
Through this partnership, the employee applying for UnaPay Salary Loan would only need to submit a completed application form, 1 valid government ID, and their company IDs and wait for the loan approval. Once the loan is approved, the employee would receive the loan amount within 24 hours.
Benefits of UnaPay Salary Loan
 Safer Option than Loan Sharks. Getting a loan from loan sharks may give employees the initial relief of instant cash, but the long-term impact of these loans may do more harm than good.
Salary loan options also saves the employee from potential harassment when loan sharks collect their dues. Though receiving calls from loaners are natural in the loan collection process, verbal and physical harassment is never acceptable.
UnaPay Salary Loans allows the employees to choose the installment terms that best suit their financial capabilities. For employees who still find it difficult to repay their loans, UnaPay assists employees by offering payment options to make sure their loan does not incur more debt due to penalties.
 Faster Integration and Onboarding for Employers. Depending on the company’s existing processes and their submitted documents, the integration and onboarding process can take as little as a week to complete.
 Easy Application for Employees. Employees who wish to apply for a Salary Loan with UnaPay can skip the stringent paperwork and complete the application process with just a completed application form, 1 valid government ID, and their company.
Once approved, employees will receive the full amount of their loan within 24 hours; no service fees or additional charges will be deducted from the loan amount.
 Easier Repayment Options.
(a) Auto-debit arrangement with HR and Payroll. Loan repayments are easier through auto-debit arrangements with the company HR and accounting department. UnaPay Salary Loan will send the statement of accounts every cut off and employee loans will be automatically deducted from their salary.
(b) Employees can pay thru partner banks and outlets. Employees are still given the option of settling their monthly dues online and over-the-counter through UnaPay’s partner banks and outlets. Learn more about them here.
 No Collateral Needed to Apply. Unlike pawnshops and other types of loan that need collateral as insurance that you will repay your loan, UnaPay Salary Loan does not require any form of collateral from the employee. There is no need to pawn any employee property or items to apply for a loan with UnaPay.
Why should companies consider UnaPay Salary Loans?
All companies are encouraged to offer salary loans to their employees as an option to help alleviate the burden and stress during unexpected events and financial emergencies.
Although loans are generally safe and beneficial, compare different types of loan to determine which one best suits employees financial capabilities, has lower interest rates, and protects the employees’ and employers’ interest.
Is UnaPay safe and legitimate?