RFC Business Loan

Up to ₱1,000,000 business loan approved in 3-5 working days

Interest rate (p.a.)

42.00% - 42.00%

Approval Duration

3-5 working days

Loan Tenure

0.5 - 1 years

 Min. monthly income

₱7,000

Product Features

Min. financing amount ₱100,000.00
Max.financing amount ₱1,000,000.00
Min. loan tenure 3 months
Max. loan tenure 12 months
Interest rate 3.5%-4% per month
Approval duration 3-5 working days
Debt consolidation No

Fees & Charges

One time set up
Processing fee 6% of approved loan amount
Stamp duty 12 months = (PNV / 200) x 1.5; < 12 months = ((PNV /200) x 1.5) x (term / 12)
Disbursement & misc. fee ₱200 notarial fee / Insurance (GCLI) = (PNV / 1,000) x 20
Penalties
Early settlement N/A
Late payment charges 5% of amount due

Eligibility

Age requirement Age 21 - 64
Employment eligibility Filipinos only with permanent residence
Min. salary requirement ₱7,000 gross per month
Guarantor / Collateral requirement Yes

Other Requirements

Need to open linked banked account? No
Other details Third Party Payment Channels ECPay (available in 7/11 stores), Bayad Center, Metrobank, Eastwest Bank, UCPB, RCBC and BDO

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