Security Bank Personal Loan

Product Overview

Product Name:	Security Bank Personal Loan
Remarks:	Low interest rate and affordable payment terms
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:	You may apply with just a minimum gross monthly income of PHP15,000.00
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
Guarantor Required:	NO
Collateral Required:	NO
Other Requirements:	Additional documents may be required to process the loan
Need to Open Linked Bank Account:	No

Application and Approval

Application Channel:
Approval Duration:	3 to 5 days
Approval Duration Remarks:	Approval time is up to 5 banking days

Fees and Charges/Penalties

Loan Processing and Dispersal Fees:	PHP2,000.00 processing fee, plus stamp duty
Early Repayment Penalty:	5% of remaining principal plus unpaid interest
Late Payment Penalty:	3% of amount due or PHP500.00 whichever is higher

Interest Rates Offered

Product Name:	Interest Rate	Effective Interest Rate	Interest Type
Security Bank Personal Loan - 12 months	1.39%		Monthly Add-On Rate
Security Bank Personal Loan - 18 months	1.49%		Monthly Add-On Rate
Security Bank Personal Loan - 24 months	1.59%		Monthly Add-On Rate
Security Bank Personal Loan - 36 months	1.69%		Monthly Add-On Rate

FAQ

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

If Employed:

• 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.

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