Finance

Jan 9 2017

Personal Loans, Low Interest Salary Loans #bad #credit #installment #loans

#low interest personal loans
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Personal loans

Eligibility Documentary Requirements FAQ

  • At least 21 years old at the time of application but not more than 65 years old upon loan maturity
  • Must be a Filipino Citizen
  • Must have an office or residence landline.
  • If Employed:
    • Regular and permanent with current employer and with total employment of at least one (1) year
    • For call centers, minimum employment tenure is 3 years.
    • Minimum gross monthly income:
      • For Metro Manila: PHP15,000
      • For outside Metro Manila: PHP12,000
  • If Self-employed:
    • Must be owner or majority owner with at least 40% stake.
    • With at least two (2) continuous years of profitable operations in the same line of business
    • Minimum monthly income:
      • For Metro Manila: PHP30,000 gross and PHP15,000 net
      • For outside Metro Manila: PHP25,000 gross and PHP12,500 net.

Documentary Requirements

  • Completely Filled out and signed application form (Click Here to download )
  • If Employed:
    • Photocopy of company ID with clear photo and signature
    • Photocopy of one (1) valid government-issued photo ID with three (3) specimen signatures
    • Latest one (1) month payslip
    • Latest BIR Form 2316 or latest certificate of employment
  • If Self-Employed:
    • Two (2) valid government-issued IDs
    • Latest ITR with BIR stamp
    • Latest 2 years Audited Financial Statements
    • SEC Registration/DTI
    • Business Permit/Mayor’s Permit
    • Latest six (6) months bank statements
    • List of 3 suppliers and 3 customers with contact details
    • Latest GIS (if corporation)

    Note: Additional documents may be required to process the loan.

FAQ

  • Where I can get and submit loan application?
    • You can get an application via the following:
      • Via the website:
        • Download the application form .
        • Scan the completely filled out application form and required documents and email
      • Via Branch
        • Secure a Personal Loan Application form from any Security Bank Branch.
        • Completely Fill out the application form and attach the required documents.
        • Submit the application form and complete documents to any Security Bank Branch.
  • How much is the amount I can loan?
    • Minimum amount that you can avail is Php 30,000.00 and maximum is Php 1,000,000.00.

    Note: Final loan amount will depend upon your capacity to pay.

  • For how many months/terms I can pay the loan?
    • You have option to pay the loan amount for: 12, 18, 24 and 36 months
  • How much is the interest rate?
    • Standard interest rates are as follows:
  • What are the fees and charges?
    • Processing Fee of Php2,000.00, to be deducted from loan amount upon loan booking.
    • Documentary Stamps of Php 1.00 for every Php 200.00, for loans exceeding Php 250,000.00
      Example: Loan amount is P251,000.00 / 200 = Php 1255
    • Notarial Fee for loans more than P100K are:
      • 100,000.01 to 500,000.00 – P125.00
      • 500,000.01 to 1M – P150.00
      • over 1M to 3M – P175.00
      • over 3M to 4M – P225.00
      • over 4M to 5M – P300.00
      • Amount over 5M – P400.00
    • Late Payment Fee is 3% of the amount due or PHP500 whichever is higher.
    • Pre-termination Processing Fee of 5% of remaining principal balance plus any unpaid interest.
  • How will I know if my loan is approved?
    • Security Bank will contact you to advise you of your loan approval, plus schedule your loan availment.
    • You can also call our Customer Service Hotline at 88-791-77 to inquire status of loan.
  • How will I get my loan proceeds?
    • Proceeds can be released via Manager’s Check or via Credit to SBC deposit account.
    • Client needs to proceed to the Loan Availment Center at CBLG Office at 6797 Ayala Avenue, Makati City or via designated branch for select clients only.
    • Client should bring any additional requirements for booking.
  • 8. What is my mode of payment?
    • You will receive a post-dated check.
  • Can I pre-terminate my loan?
    • Yes, you can pre–terminate the loan but there will be a processing fee equivalent to 5% of remaining principal balance plus unpaid interest that shall be applied to your account.
  • Can I re-avail loan?
    • You can re-avail your personal loan as long as you have already paid at least half of your original loan term, and there has been no record of missed payments.
      Example: Original loan term is for 12 months and you have already paid your amortizations for 6 months already, you can apply for re-availment. Upon booking, your previous loan balance will be deducted from the proceeds of your new loan.
  • Can I avail of two personal loans at the same time?
    • Borrower cannot avail two loans at the same time. Existing loan must be paid off first before they can apply another loan.




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