Security Bank Personal Loan
|Product Name:||Security Bank Personal Loan|
|Minimum amount of loan:||PHP30,000.00|
|Maximum amount of loan:||PHP1,000,000.00|
|Minimum loan tenure:||12 months|
|Maximum loan tenure:||36 months|
|Early repayment:||5% of remaining principal balance plus any unpaid interest|
Eligibility and Requirements
|Age range of borrower:||21-65 years old|
|Minimum annual income:||PHP180,000.00|
|Income requirement remarks:|
|Employment / work status:||Permanent Employee for 1 year / 2 years business operations for Self-employed / 2 years of practice for Professionals / Government Employee for 1 year|
|Borrower has to have credit card:||NO|
|Other requirements:||salary required 180k fro MM, 144k for provincial|
|Need to open linked bank account:||NO|
Application and Approval
|Approval duration:||3 to 5 days|
|Approval duration remarks:|
Fees and Charges/Penalties
|Loan processing and dispersal fees:||PHP 2000 dispersal fee, plus stamp duty|
|Early repayment penalty:||5% of remaining principal plus unpaid interest|
|Late payment penalty:||Higher of 3% of amount due, PHP 500 minimum|
Interest Rates Offered
|Product Name:||Interest rate||Effective interest rate||Interest type|
|Security Bank Personal Loan - 12 months||1.39% -1.39%||fixed Interest Rate|
|Security Bank Personal Loan - 18 months||1.39% -1.39%||fixed Interest Rate|
|Security Bank Personal Loan - 24 months||1.39% -1.39%||fixed Interest Rate|
|Security Bank Personal Loan - 36 months||1.39% -1.39%||fixed Interest Rate|
What are the required documents to apply for a Security Bank personal loan?
- Accomplished and signed original copy of application form
Bring photocopies of the following*:
- Employed applicants must submit two (2) government issued IDs, company ID, three (3) specimen signatures, most recent one (1) month payslip, most recent BIR Form 2316, or COE.
- Self-employed applicants must submit two (2) government issued IDs, latest Income Tax Return with BIR stamp, two (2) years audited financial statements, SEC or DTI registration, business or mayor’s permit, most recent six (6) months bank statements, contact details of three (3) suppliers and three (3) customers, latest General Information Sheet (GIS) if corporation.
- *Bring the original copies with you upon submission of documents.
What are the modes of payment?
- You will receive a post-dated check for the repayment of your loan.
What are the eligibility requirements for Security Bank personal loan application?
- Applicant must be atleast 21 years old, and not more than 65 years old upon maturity of loan and a Filipino citizen with residence and office landline
- Must be regularly employed for at least one (1) year with a minimum gross monthly income of PHP 15,000 for Metro Manila applicants and PHP 12,000 for provincial applicants*
If Self - Employed:
- Must be the owner, or majority owner of atleast 40% stake.
- The business must be profitable for two (2) continuous years in the same line of business
- Minimum monthly income requirement must be PHP 30,000.00 and PHP 15,000.00 net for Metro Manila applicants, and for outside Metro Manila, PHP 25,000.00 gross and PHP 12,500.00 net.
How do I claim my Security Bank personal loan proceeds?
- Your loan proceeds will be released via Manager’s Check or Credit to Security Bank deposit account. Proceed to the Loan Availment Center at CBLG Office at 6797 Ayala Avenue, Makati City or via designated branch for select clients only. You may be required to bring additional documents.