Why was I approved for a different tenor?

The tenor can be defined as the length of your loan. As a borrower, you are required to repay the loan within the agreed tenor. Starting April 1, borrowers can choose between 3, 6, 9 and 12 month tenors.

However, upon processing, our team may assess a different length of loan than the one you selected. This is done to put you in the best position to manage your loan.

If you were approved for a tenor longer than your original choice, you can opt to pre-terminate your loan. This means that you can pay in bulk to close the loan before the 12th month. Read more about pre-termination here .

Note that short-term loans are currently offered to select schools. Also, note that all loan offers are conditional. As long as a loan has not yet been disbursed to the school, Bukas Finance Corp. reserves the right to withdraw any loan agreement.