SCB EZ Loan
|Product Name:||SCB EZ Loan|
|Minimum Amount of Loan:||PHP20,000.00|
|Maximum Amount of Loan:||PHP2,000,000.00|
|Minimum Loan Tenure:||24 months|
|Maximum Loan Tenure:||48 months|
Eligibility and Requirements
|Age Range of Borrower:||21-65 years old|
|Minimum Annual Income:||PHP290,000.00|
|Income Requirement Remarks:|
|Employment / Work Status:||Permanent Employee for 2 years / 3 years Business Operations for Self-employed / 3 years of Practice for Professionals / Government Employee|
|Borrower has to have Credit Card:||Yes|
|Need to Open Linked Bank Account:||No|
Application and Approval
|Approval Duration:||1 to 3 business days|
|Approval Duration Remarks:|
Fees and Charges/Penalties
|Loan Processing and Dispersal Fees:||Higher of PHP 1500 or 4% of loan amount, 4000 max|
|Early Repayment Penalty:||Higher of 5% of balance or PHP 1500|
|Late Payment Penalty:|
Interest Rates Offered
|Product Name:||Interest Rate||Effective Interest Rate||Interest Type|
|EZ Loan - 24 months||1.10%||Monthly Add-On Rate|
|EZ Loan - 36 months||1.10%||Monthly Add-On Rate|
|EZ Loan - 48 months||1.10%||Monthly Add-On Rate|
What are the required documents for Standard Chartered personal loan?
- BIR Form 2316 for employed, and BIR Form 1701 for self-employed
- Original Copy of Certificate of Employment (optional, if applying for a higher loan amount)
- Clear photocopy of one (1) of the following valid IDs:
- Passport - Valid until the next 59 days from the date of the application
- Driver's License - Not expired; Temporary license not allowed.
- SSS/GSIS ID - Plastic card with photo
- BIR TIN ID - Plastic card with photo
- Firearms License/PTC - Not expired
- IBP/PRC ID - Not expired
- PNP/AFP commissioned or retired officer's ID - Recent issue, with photo
- Unified Multipurpose ID - Plastic Card with photo
- National ID/Foreign Passport with Full name details, photo, signature and residence address - Applicable to foreigners, not expired
- Work Permit - Applicable to foreigners, not expired
- Alien Certificate of Registration - Applicable to foreigners, not expired
- Diplomat ID
Additional Requirements and Conditions For Foreign Residents:
- Photocopy of Visa showing the Visa's validity or Photocopy of SIRV ID card (applicable for Special Investor's Resident Visa holder)
- Should be physically residing in the Philippines for one (1) year or more from the point of application
- Maximum Loan Term should be up to the period of Visa's validity.
What are the modes of payment?
- You may pay your loan through cash deposit, online banking, post-dated check, or ATM transfers.
What are the eligibility requirements for Standard Chartered’s EZ Loan application?
- Applicant must be a Filipino citizen or a foreigner holding residence in the Philippines.
- He/she must be 21 to 65 years old, employed or self-employed, with a minimum Gross Annual Income of Php290,000.
- Applicant must have an existing credit card issued by another bank in the Philippines, with a home or business address and landline in the bank’s service locations.
How do I claim my Standard Chartered EZ Personal Loan?
- Your loan will be released through Manager’s Check.