Equicom Personal Loan
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.
Equicom Personal Loan
Equicom Personal Loan. Get cash loan with low interest rates and fixed monthly payment terms. Hassle-free and fast application online.
Overview
- Product Name:
- Equicom Personal Loan
- Remarks:
- With low, flexible and affordable rate
- Minimum Amount of Loan:
- PHP15,000.00
- Maximum Amount of Loan:
- PHP1,000,000.00
- Minimum Loan Tenure:
- 12 months
- Maximum Loan Tenure:
- 48 months
- Early Repayment:
- 5.0% of the remaining principal balance or PHP500.00 whichever is higher
Eligibility and Requirements
- Age Range of Borrower:
- 21-65 years old
- Minimum Annual Income:
- PHP240,000.00
- Income Requirement Remarks:
- Apply for as low as PHP20,000.00 monthly income
- 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 or Home Phone Number
- Need to Open Linked Bank Account:
- No
Application and Approval
- Application Channel:
- Apply through eCompareMo.com
- Approval Duration:
- 5 to 7 banking days
- Approval Duration Remarks:
- Be approved in as early as one week
Fees and Charges/Penalties
- Loan Processing and Dispersal Fees:
- PHP1,500.00 for Employed , PHP2,000.00 for Self-Employed
- Early Repayment Penalty:
- 5.0% of the remaining principal balance or PHP500.00 whichever is higher
- Late Payment Penalty:
- 3.0% per month of the total overdue amount or PHP500.00 whichever is higher
Interest Rates Offered
| Product Name: | Interest Rate | Effective Interest Rate | Interest Type |
|---|---|---|---|
| Equicom Personal Loan - 12 months | 1.55% | 2.73% | Monthly Rate |
| Equicom Personal Loan - 18 months | 1.65% | 2.89% | Monthly Rate |
| Equicom Personal Loan - 24 months | 1.65% | 2.86% | Monthly Rate |
| Equicom Personal Loan - 36 months | 1.75% | 2.92% | Monthly Rate |
| Equicom Personal Loan - 48 months | 1.85% | 2.97% | Monthly Rate |
FAQs
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.