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SCB EZ Loan
Reach the goals you are eyeing for with ease with Standard Chartered EZ Loan. Renovate your home, travel wherever, and pay for tuition, with low interest rates and light payment schemes.
|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.