We keep an eye on the searches that are typed into Google in order to find our site. This is standard practice for web companies so that we make sure that the right people are finding our site, and they are receiving the best information and service.
We’ve also noticed lately that many of the searches come in the form of questions, and some of them gave us a chuckle. Here’s our 5 favorite FAQ search questions from the week starting Monday, November 14:
We wrote a quick article in our FAQ section about 5/6 loans when we compared the different methods of calculating interest rates. You can see the article here: http://www.rainingpesos.com.ph/learn/faq
1. “5/6 loans for ofe”
First of all, to clear the record, we don’t offer 5/6 loans! You can read that article to find out how those work, and why you don’t want to enter into that type of contract. Our goal is to guide you to the best loan solutions when you and your family determine it is the best time to take a loan. Next, we assume “OFE” was actually supposed to be “OFW”. If you look at the keyboard, “E” is right next to “W”. Since the 5/6 guy collects payments daily, it doesn’t make sense that a monthly OFW remittance would be used for this purpose.
2. “borrowing for philippine peso from a philippine bank”
This one caught us off guard… but it is a good question. Can you borrow other types of currency from Filipino banks? That answer is no. However, the international banks do offer loan repayments in other currencies (HSBC, Citibank, Standard Chartered, etc). We can help you understand how this works.
3. “buying defective gadgets”
We only sell NEW gadgets on our site. They all have a warranty of 1 year, so if indeed it is defective, your unit will be replaced! Now… if you really want to buy defective gadgets, we’ll do some research and update you next week! Perhaps check the classifieds
4. “get a loan in the mail”
This is new topic! However, the timing for this is appropriate. One of our Personal Loan partners just told us that you can now avail of their loan without ever going into the bank! You can apply online with Raining Pesos, emailing us copies of your requirement documents for processing. Once all requirements are met, the credit investigation team will come to your home or office to do final loan document signing, and to pick up all of your original loan documents. All you need to do is specify in which commercial or thrift bank account you’d like to deposit the cash! Currently, this is being rolled out in Metro Manila, but will extend to Cebu & Davao in a few months.
5. “how many years does cmap keeps bad credit record – philippines”
This one is a good question, and we’re actually not sure how this person found our site! CMAP is the system that records all the court cases for loan defaults in the Philippines. The records will stay there indefinitely. However, it is up to the bank to determine if they will entertain your loan request or not. In some cases, they will ask you to settle the case before processing your loan. Other conservative banks will flat out reject the applicant.
6. “how to loan mahogany in the philippines”
This is first for us! If this is a furniture loan, you can check out gadgets on installment page to see how to qualify for a 12 month installment on mohogany furniture. If this is to plant mohagany trees on your agricultural land, if you can qualify for a personal loan or business loan, you could apply the funds for this type of project. However, agricultural loans are out of scope for Raining Pesos for now.
Hahaha… we cracked up when we saw this one. The answer is definitely NOT by building an online loan consulting company! Jokes aside, we love what we do, and we really believe this service will eventually help Filipinos understand the best time to take loans for their financial needs, and how to find the best deals in the country. Fast money online would be affiliate marketing… do some research there!
8. “i want to buy a secondhand car but i dont have money for downpayment philippines”
All lenders, whether a bank or a finance company, require a down payment. Since car loans are large, and the bank is taking considerable risk, they like to see that you have the budgeting capability to save for a down payment.
That’s all for this week. This seems to be a good way to collect and answer “FAQ” loan questions, so we’ll start doing this weekly.