Welcome Finance Personal Loan
Immediate need of cash for your child's tuition fees? Planning a getaway with your family? Or paying off your debt? Now you have you what you want with Welcome Finance Personal Loan. Best for regular employees with low to average monthly income. This personal loan is available in 12 to 36 months repayment schemes. Processing takes only five to 10 days upon submission of complete requirements.
eCompareMo lets you compare all the personal loan rates available on the market to help you find the best one for your needs.
Product Overview
| Product Name: | Welcome Finance Personal Loan |
| Remarks: | For employees looking for financial assistance whether for personal or business necessities |
| Minimum Amount of Loan: | PHP20,000.00 |
| Maximum Amount of Loan: | PHP500,000.00 |
| Minimum Loan Tenure: | 12 months |
| Maximum Loan Tenure: | 36 months |
| Early Repayment: | 5% of the principal amount |
| Payment Options: | Post Dated Checks and Bank Transfers |
Eligibility and Requirements
| Age Range of Borrower: | 21-60 years old |
| Minimum Annual Income: | PHP180,000.00 |
| Income Requirement Remarks: | For employees with a monthly income of PHP15,000.00 a month and PHP40,000.00 for Self-Employed |
| Employment / Work Status: | Permanent Employee for 0 year / 3 years Business Operations for Self-employed / 1 year of Practice for Professionals / Government Employee for 0 year |
| Borrower has to have Credit Card: | No |
| Guarantor Required: | No |
| Collateral Required: | No |
| Other Requirements: | Verified landline or postpaid mobile number |
| Need to Open Linked Bank Account: | No |
Application and Approval
| Application Channel: | eComparemo.com |
| Approval Duration: | 2 to 7 days |
| Approval Duration Remarks: | Know the status of your application in as early as 2 days |
Fees and Charges/Penalties
| Loan Processing and Dispersal Fees: | 3.00% processing fee, PHP400.00 DST and Notarial Fee |
| Early Repayment Penalty: | 5% of the principal amount |
| Late Payment Penalty: | PHP1,500.00 or 15% of the monthly amortization whichever is higher |
Interest Rates Offered
| Product Name: | Interest Rate | Effective Interest Rate | Interest Type |
|---|---|---|---|
| Welcome Finance Personal Loan - 12 months | 1.60% -3.00% | Monthly Add-On Rate | |
| Welcome Finance Personal Loan - 24 months | 1.60% -3.00% | Monthly Add-On Rate | |
| Welcome Finance Personal Loan - 36 months | 1.60% -3.00% | Monthly Add-On Rate |
