Salary Stretch Loan
Great news to all empowered individuals! CTBC Salary Stretch Loan brings you a short-term or mid-term multi-purpose loan for both salaried and self-employed individuals. Salary Stretch Loan allows you to maximize your finances through competitive interest rates, flexible loan tenure and fixed monthly terms.
eCompareMo lets you compare all the personal loan rates available on the market to help you find the best one for your needs.
You can also check out other CTBC Loan products here.
Salary Stretch Loan
Chinatrust Salary Stretch Loan. Get the best cash loan rates in the Philippines. Fast and hassle-free application online.
Overview
- Product Name:
- Salary Stretch Loan
- Remarks:
- With flexible and affordable loan options
- Minimum Amount of Loan:
- PHP20,000.00
- Maximum Amount of Loan:
- PHP1,000,000.00
- Minimum Loan Tenure:
- 12 months
- Maximum Loan Tenure:
- 36 months
- Early Repayment:
- None, if one month notice is given
- Payment Options:
- Pay your monthly amortization via issuance of post dated checks
Eligibility and Requirements
- Age Range of Borrower:
- 23-60 years old
- Minimum Annual Income:
- PHP180,000.00
- Income Requirement Remarks:
- Low monthly income requirement
- Employment / Work Status:
- Permanent Employee for 0 year / 3 years Business Operations for Self-employed / 3 years of Practice for Professionals / Government Employee for 0 year
- Borrower has to have Credit Card:
- No
- Guarantor Required:
- No
- Collateral Required:
- No
- Other Requirements:
- Office landline
- Need to Open Linked Bank Account:
- No
Application and Approval
- Application Channel:
- Apply through eCompareMo.com
- Approval Duration:
- 3 to 5 days
- Approval Duration Remarks:
- With a minimum process time of 3 days
Fees and Charges/Penalties
- Loan Processing and Dispersal Fees:
- PHP2,000.00 processing fee, plus stamp duty
- Early Repayment Penalty:
- None, if one month notice is given
- Late Payment Penalty:
Interest Rates Offered
| Product Name: | Interest Rate | Effective Interest Rate | Interest Type |
|---|---|---|---|
| Salary Stretch Loan - 12 months | 1.39% | 29.48% p.a | Monthly Rate |
| Salary Stretch Loan - 18 months | 1.39% | 29.57% p.a | Monthly Rate |
| Salary Stretch Loan - 24 months | 1.39% | 29.33% p.a | Monthly Rate |
| Salary Stretch Loan - 36 months | 1.39% | 28.58% p.a | Monthly Rate |
FAQs
What are the required documents to apply for a CTBC Bank Personal Loan?
Employed:
- Completed and signed application form
- Photocopy of latest ITR / BIR Form 2316
- Photocopy of ID issued by the employer (with photo and signature)
- Photocopy of one (1) month latest payslip
- Bring the original copies of your documents upon submission. Other documents may be required.
Self-employed:
- Completed and signed application form
- Photocopy of latest BIR Form 1701 / 1702
- Photocopy of unexpired Certificate of Registration from the Department of Trade and Industry (DTI)
- Photocopy of latest two (2) months credit card statements
- Photocopy of latest six (6) months bank statements of account/s
- Photocopy of credit card
- Photocopy of two (2) government-issued valid IDs with photo
- Bring the original copies of your documents upon submission. Other documents may be required.
What are the modes of payment?
- You can pay your CTBC Bank Salary Stretch Loan through Unionbank Branches, BancNet Channels via ATM or via Online Banking (for CTBC Bank All-Day Access Card holders only), Bayad Center Outlets (ECPay-accredited Payment Merchants such as 7-Eleven, Gaisano Grand Malls, LCC, METRO, Ever Supermarket, etc.). Salary Stretch loan payment are also accepted in all CTBC Bank Business Centers nationwide.
What are the eligibility requirements for CTBC Bank Personal Loan application?
Employed:
- Must be a Filipino citizen
- Must be at least be 23 years old at the time of application and 60 years old upon loan maturity
- Borrowers 61 to 65 years old upon loan maturity may be allowed if verified with employer that retirement age is 65 years old. Borrowers who are 60 years old and above upon loan maturity must also submit a photocopy of a Credit Life Insurance.
- Must be a regular employee with a tenure of at least one (1) year within the current company
- Must have an office landline
- Note: Qualifications may change without further notice, subject to the bank's terms and policies.
Self-employed:
- Must be a Filipino citizen
- Must be at least 25 years old upon application and 60 years old upon loan maturity
- Must have a minimum gross monthly income of PHP 15,000 for applicants based in Metro Manila, and PHP 10,000 for applicants based in the provinces
- Business must be registered and operational for at least three (3) years for those in the Trading and Services industry, and five (5) years for other industries
- Must provide business and home landline and/or mobile number
- Must own a credit card
How do I claim my CTBC Bank Personal Loan proceeds?
The CTBC Salary Stretch Loan may be released through the following:- CTBC Bank All-Day Access Card
- Credited through borrower’s CTBC Bank account
- Via Manager’s Check
- Credited to borrower’s other Bank account