Tala's Installment Loan is designed to fit your lifestyle, not the other way around. Unlike a traditional single-payment loan, here you control how you divide your commitment.
Total flexibility in your payments
With this option, you decide the rules when hiring:
- Choose your monthly payments: You can divide your total loan into up to 4 monthly payments .
- You set the date: Select the day of the month that best suits you to make your payments (ideally aligned with your income).
- Higher amounts: By splitting the payment, you have the possibility of accessing higher loan limits to cover more important expenses or emergencies with complete peace of mind.
What happens if I fall behind on a monthly payment?
We know that unexpected things happen. If you can't make your payment by the due date, Tala offers options to minimize the impact:
- Partial payments: We recommend paying as much as you can, even if it's not the full monthly payment. This reduces the outstanding balance on which fees are calculated.
- Collection fee: If you are late, a 5% fee is applied to the outstanding amount of each installment.
Advantages of staying up to date
Organizing your finances with the installment system allows you to:
- Cover additional expenses without depleting your savings in a single month.
- Maintain an impeccable record to keep leveling up in "Grow with Tala" .
- Avoid unnecessary financial pressures thanks to more convenient and smaller payments.
📞 Do you need personalized support?
If you have doubts about your current payment plan, don't wait until the due date. Check payment options in your Tala App, use the in-app support, viber chat or contact us at gotala.co/help.