With FinRock you can build an inventory right in the app of all the important items you own. Our "Snatcher Guarantee" protects you further. If your mobile phone is snatched, and we can’t retrieve it…we will replace it for you free of charge. It is free property protection with every user looking out for your property.
Sometimes in life we need a little extra cash for those unexpected expenses like education, medical or family needs. FinRock is a credit line - right inside your pocket and available in minutes. For larger loans and major purchases, we work with our partners to get you the best deal possible.
Small business can be tough. Whether your starting out or an established business sometimes you need a little more cash to get you through the tough times. FinRock can help by making available some of the value in your business assets to help you expand your business.
Finding the right coverage to suit your needs can be difficult and time-consuming. FinRock continuously analyses your needs to make available to best and most cost-effective options available directly through the App. Comprehensive coverage, insurance for those few important things, or protection of your loved ones, we can find the best policy for your circumstances.
List your items for identification in case of theft or loss.
Transfer ownership of items directly from the app.
Instantly notify us if an item is lost or stolen.
Get notifications when a lost or stolen item is found.
Access value in your assets with easy finance applications.
Protect yourself, your assets and your loved ones.
Easily manage all your personal items, finance and insurance with one simple to use app. Protect your property, your loved ones and your finances.
At FinRock, we aim to not only help with the immediate needs, but to improve our customers long term safety, security and prosperity.
One of the ways we do this is by packaging cost effective insurance solutions within our loan agreements. Rather than fight one fire at a time, FinRock provides solutions to immediate needs, and prepares to take care of needs that may arise.
Automatically included in each and every loan product is additional protection to prevent unexpected loss or expenses.
We discount the interest and fees on our loans to provide for the insurance at no additional cost. Once a policy is in place a second loan become even cheaper.
With FinRock there are no hidden costs or conditions. Everything is explained up front in simple language, so you know what to expect.
FinRock cares about its members. While short term loans are often used in an emergency, insurance is used to prevent the financial cost of an emergency before it happens. We aim to help with the now and protect against problems in the future at the same time. This is why rather than charging high interest and fees for our loans, we finance at a reasonable cost and then give you more back more protection. We are about long term safety, security and prosperity.
Items in your FinRock inventory are automatically assessed for your credit limit. The primary items considered eligible include electronics, computers, devices, major appliances and vehicles such as cars and motorbikes. If an item is eligible you will see a small diamond icon on the right of your item in the inventory list and on the item detail screen of your app. We upgrade the list of eligible items continuously and your credit limit is updated when new items become eligible.
When you enter items into your inventory you add information like the serial number and a photograph of the item. Each item is unique and can only be added to the app once. It created a digital identity for your item and assigns ownership of the item to you. If stolen, this information is used to track down your property and can instantly be transmitted to your insurance company or authorities making the claims process easier.
There are many factors the affect your credit limit with FinRock. Three that you can use to upgrade your credit limit are your app history, payment history and the number and value of the items in your inventory. Consistent use of the app helps. Add as many items as you can that are of value to you as early as you can. Update the inventory whenever you buy something new and make any payments due for existing loans on time and your limit will grow.
To qualify for the Snatcher Guarantee, you need to have invited 2 friends who have joined FinRock and maintain 10 items in your inventory. The phone covered by the guarantee needs to be your device and listed in your app. If your phone is snatched within the first 12 months of joining, then we will retrieve or replace your phone for you. If you have device insurance, this will supersede the guarantee and usually includes coverage for damage.
FinRock is not like a pawn shop. We do not hold your items while you have a loan with us. The items used as security can be collected if you fail to repay your loan. In the case of having trouble paying your loan, we try to work with you to settle the loan in a way that does not include picking up the items you have used as security. Your loan agreement is a commitment to hand over the items if you cannot settle the loan.
Insurance cost varies depending on the type and the need. We have set up our loans so that the cost of the insurance is compensated for by a reduction in the costs of the loan. In effect, you gain extra protection at no cost when compared to other online loan options. When it comes to a second or subsequent loan while your insurance is still current, this makes your loans even cheaper as you get the premium cost as an additional discount.
Reporting an item stolen or lost in FinRock is a simple process. You just select the item or items you want to include and click the report button. Answer a couple of quick questions and you are done. We spring into action looking for those items for you. Any attempt to register your property, sell it through a partner dealer or if it is located by partner law enforcement will cause an alert and begin a process to retrieve your property for you.
FinRock does not have any additional service or application processing fees. Our interest is 0.42% per day for loans with a term of over 14 days. For loans of 14 days or less, FinRock charges 0.6% per day. With all loans, there is a 70 peso finance transfer fee. The only other cost is for the insurance policy. This only needs to be paid when a new policy is needed. In the case of a loan default, additional penalty interest is charged in line with your loan agreement.