Tonik & FC Home Center bring shop installment loan to Filipinos

By Gloria Mathias

Tonik Digital Bank, a Philippines neobank, has announced the launch of its shop installment loan to FC Home Center stores.

The partnership aims to enhance customers’ shopping experience in the consumer durables market. Customers can now access 15-minute loan approvals and hassle-free and flexible financing in the Tonik app, fast-tracking processes and eliminating lengthy traditional loan application procedures.

Tonik also provides the lowest monthly instalments, giving customers access to better financing options and empowering them to make purchases. This enables Tonik to benefit more Filipinos to pursue their aspirations without steep costs.

“Tonik’s vision is to drive financial inclusion, and we commit to deliver that by providing innovative and accessible products to a wide range of customers,” said Greg Krasnov, Founder of Tonik Digital Bank. “The partnership with FC Home Center aligns with this commitment and creates a win-win situation for us and our customers.”

FC Home Center is a trusted retailer of home appliances, electronics, and home effects, offering various alternative brands across its network of stores. With the collaboration with Tonik, FC Home Center is extending better financing options to its customers.

“We believe that this partnership with Tonik will be beneficial to our customers, and at FC Home Center, that is really what we want, for our customers to have a good life,” said Babe Daanug, Chairman of FC Home Center.

The partnership is a significant move for the consumer financing industry, as it emphasizes technology’s strength to improve customer experience through innovative digital banking products seamlessly.

Tonik is the digital-only neobank in the Philippines, providing loan, deposit, and payment products to consumers on a highly secure digital banking platform. The neobank operates based on the digital bank license issued by the Bangko Sentral ng Pilipinas (BSP).