Hassle-free and higher chance of approval when you apply for a personal loan with Equicom. Tons of benefits await such as a higher loanable amount with special rates and flexible payment schemes.
Overview
| Loan amount | ₱15,000 to ₱1,000,000 |
|---|---|
| Loan term | 12 to 48 months |
| Interest | 1.55% to 1.85% a month |
| Minimum annual income | ₱240,000 |
| Age | 21 to 65 years old |
| Work | Employed, Self-employed, Professional |
| Processing time | 5 to 7 banking days |
| Early repayment | Allowed |
| Admin fee | PHP1,500.00 for Employed , PHP2,000.00 for Self-Employed |
| Late payment | 3.0% per month of the total overdue amount or PHP500.00 whichever is higher |
| Collateral | No |
| Requirements | Office Landline or Home Phone Number |
Frequently asked questions
What are the required documents for Equicom personal loan?
- Completely filled out original application form
- Photocopy of company ID with picture and signature
- Photocopy of one (1) valid government issued ID with three (3) specimen signatures
- Most recent credit card billing statement
- Proof of residence:
- Most recent one (1) month proof of billing (i.e. utility bill or lease contract under borrower’s name)
- One (1) government issued ID with current address (i.e. Driver’s license, NBI, Police Clearance, etc.)
If employed:
- Most recent one (1) month payslip
- Certificate of Employment
- BIR Form 2316
If Self-Employed:
- Latest ITR with BIR stamp and tax receipt
- Two (2) years Audited Financial Statements
- SEC/DTI Certificate of Registration
- Six (6) months bank statements / passbook
- Authorization to verify bank account/s
- Note: Other documents may be required to process the loan.
What are the modes of payment?
- You may pay your monthly amortization via post-dated checks.
How do I claim my Equicom personal loan proceeds?
- Your loan will be released through a Manager’s Check, or it will be credited to your Equicom Bank account.