Things are still hard and getting even harder in 2026 as folks are feeling the effects of inflation, our groceries, school fees, hospital and emergency cases too. Breadwinners like most of us get really affected especially if we already have commitment to loans, missed payments, which gets our credit score down. Digital bank Tonik though got three fold increase in business as they introduced a loan payment holiday feature called Payhinga. This stops and pauses the need to pay in cases where you get hardships in life, economically, so you don't have to get your credit line affected, as it comes with Credit Life Insurance from Sun Life (Grepa Financial) which you can simply tick the option for before you take out that loan from this digital bank.
Evidently, customers prefer this so they wouldn't get their credit health sabotaged, making more people become less susceptible to being default. But not to escape paying correctly.
This was a goal for them in their plans for financial inclusion , so they could help customers pay their loans even in dire situations. Tonik knows they need to help their clients pay off their obligations when the going gets tough. Payhinga gives folks breathing room when setbacks happen. This feature gives customers a good financial option to take when the unthinkable happens.
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