What loan products does Salmon offer?
You can choose from three (3) different types of loan products from Salmon.
1. Salmon Product Loan
Salmon Product Loan lets you buy an eligible product, take it home right away, and pay for it later in monthly installments.
You can avail a Product Loan at any Salmon partner store near you. You can find them in many major malls and other retail locations all across the Philippines.
What are the terms of Salmon Product Loan?
We calculate the terms of every Product Loan based on your profile and credit history.
- Minimum loan amount is ₱1,000
- Maximum loan amount is up to ₱60,000
- Down payment can range from 0% to 70% of the total purchase value
- You can choose a loan term of 4, 6, 9, 12, 18, or 24 months
- Interest rates and fees vary per customer
How to apply for a Product Loan
Visit any partner store near you and talk to our Salmon sales ambassador. Before visiting, make sure that you’re eligible to apply. Who can apply for a loan?
If you need help with locating a nearby Salmon partner store, feel free to check our partner stores map, or contact Salmon Customer Service via In-App Chat.
2. Salmon Credit Line
Credit Line gives you a revolving credit line that you can use anytime up to your credit limit. You can borrow again and again as long as you pay at least the minimum amount due each month, and you pay interest only on the amount you use.
You can transfer your available balance to any bank account that supports Instapay or to your e-wallet. You can also pay with Credit Line by scanning any QR Ph code at over 600,000 stores nationwide.
We calculate your credit limit, interest rate, and associated fees based on your profile and credit history.
How to apply for a Credit Line
You may apply for a Credit Line if you have used or are currently using Product Loan and have no payment delays. If you're eligible, you’ll receive an offer via push notification, SMS, or a special banner in the Salmon app.
If you are a new Salmon customer, you may apply for a Credit Line directly in the Salmon app. Eligibility is determined independently by our system.
3. Salmon Personal Loan
Salmon Personal Loan is a personal loan that offers you the freedom to spend on any personal need, without restrictions on how you spend it. You can transfer the money you received to any bank account supporting Instapay or to your e-wallet.
We calculate the terms of your loan including your credit limit, interest rates, and fees based on your personal profile and credit history. Loan terms are 4, 6, 9, or 12 months.
How to get a Salmon Personal Loan?
Salmon Personal Loan is exclusively available to customers who are selected independently by our system. If you're eligible for a Personal Loan, you will receive an offer via email or SMS.`
