Tonik defies Ghost Month with the expansion of its affordable in-store “lowest hulugan” loan to Mindanao – with zero down payment and 0% promos at partner retailers.
While many businesses slow down during the superstitious “Ghost Month,” digital-only bank Tonik is boldly pushing forward, completing its national expansion by bringing its popular Shop Installment Loans to Mindanao.
The move marks a significant milestone, making affordable in-store financing accessible across the entire archipelago and empowering families and entrepreneurs from Luzon to Mindanao.
Explosive growth fuels Tonik’s complete nationwide rollout
The nationwide rollout finalizes Tonik’s presence in all three major island groups, offering a lifeline for those needing to purchase essential items — from a family’s first refrigerator to a student’s new laptop or vital equipment for a small business.
This expansion allows more Filipinos to acquire what they need through simple, manageable monthly installments, often with zero down payment and 0% interest promotions at partner stores.
This strategic move into Mindanao comes on the heels of a period of explosive growth for the digital bank. Tonik’s lending services have clearly resonated with the market, with the company issuing over 650,000 loans in 2024 alone, amounting to a staggering ₱4.7 billion in production volume.
The momentum has only accelerated in 2025; in just the first seven months of the year, Tonik has already surpassed the entire production volume of the previous year, signaling robust demand from shoppers and strong, successful collaborations with its retail partners.
Bringing financial empowerment through local retail partnerships
Building on its success in Cebu and Western Visayas, the Mindanao launch is tailored to the unique needs of the region, focusing on forging strong local retail partnerships and providing dedicated on-ground support. This isn’t just a digital launch, but a grassroots effort to connect with local communities.
“Tonik is the only licensed bank offering Shop Installment Loans nationwide,” said Addi Valdezco, Head of Retail Partnerships. “With our loans, we don’t just help customers make their first purchase — we also bring them into a real banking system, helping them build their credit history and take the first step toward long-term financial empowerment.”
For shoppers in Mindanao, this means access to a new world of purchasing power. At leading partner retailers like Robinsons Appliance, Prince, and FC Home Center, customers can now enjoy:
- ZERO Downpayment and 0% Interest promos in select stores, removing the biggest barrier to entry for large purchases.
- Fast, in-store approval, with a typical application journey completed in under an hour.
- Flexible payment terms designed to fit comfortably within a monthly household budget.
This model also provides a significant advantage for retailers, who can leverage Tonik’s in-store credit to boost sales conversion and increase the average basket size. It gives their customers a practical and immediate way to buy what they need, when they need it most.
Greg Krasnov, Tonik’s Founder and CEO
The vision behind this nationwide push is rooted in a mission of practical financial inclusion. It’s about more than just numbers; it’s about tangible improvements in the daily lives of Filipinos.
“Expanding into Mindanao isn’t just about growth — it’s about making everyday life a little easier,” said Greg Krasnov, Tonik’s Founder and CEO. “Whether it’s a first fridge, a student’s laptop, or equipment for a sari-sari store, we want financing to be simple, fair, and available everywhere.”
As Tonik completes its nationwide footprint, it stands as a testament to its commitment to financial accessibility. Even in Ghost Month, the bank continues to move forward, ensuring that more Filipinos than ever can say “yes” to the things that truly matter.
About Tonik
Tonik is the Philippines’ first digital-only bank, focused on credit-led financial services. Through products like Shop Instalment Loans, Cash Loans, and Tendo loans (salary enabled loans), Tonik provides fast, affordable, and accessible financing.
With a fully digital, customer-first approach, Tonik helps Filipinos across the country build their credit history and take control of their financial future.
