SB Finance Personal Loan
SB Finance Personal Loan
Interest rate (p.a.)
24% |
Loan Tenure
1 - 3 years |
Approval Duration
Up to 3-5 banking days |
Min. monthly income
₱20,000 |
What's so great about SB Finance Personal Loan?
- Loan tenors from 12 to 36 months.
- Flexible loan amounts, from ₱30,000 to ₱2,000,000.
- Monthly add-on rate from 2 % per month.
Product Features
| Min. financing amount | ₱30,000.00 |
| Max.financing amount | Up to ₱2,000,000.00 |
| Min. loan tenure | 1 year |
| Max. loan tenure | 3 years |
| Interest rate | As low as 2% monthly add-on interest rate |
| Approval duration | Up to 3-5 banking days |
| Debt consolidation | Yes |
Fees & Charges
| One time set up | |
|---|---|
| Processing fee | ₱2,000.00.00 to be deducted from loan amount upon loan booking |
| Stamp duty | ₱1.00 for every ₱200.00 in excess of ₱250,000.00 of the loan amount |
| Disbursement & misc. fee | Notarial fee from ₱125.00 to ₱400.00 depending on the loan amount |
| Penalties | |
|---|---|
| Early settlement | 5% of remaining principal balance plus any unpaid interest |
| Late payment charges | 3% of the amount due or ₱500.00 whichever is higher |
Eligibility
| Age requirement | Age 21 - 65 |
| Employment eligibility | At least ₱30,000.00 monthly income for Metro Manila applicants and ₱20,000.00 for provincial applicants |
| Min. salary requirement | ₱20,000 gross per month |
| Guarantor / Collateral requirement | No |
Other Requirements
| Need to open linked banked account? | No |
| Other details | Method of Payment - Post-dated checks , Over the counter, Auto debit to SB account |
As one of the leading universal banks in the Philippines, Security Bank prides itself on being the first private and Filipino-owned bank after the second world war. Applying a customer-centric approach to their business, their priority is providing personalized solutions that will fit the specific needs of their clientele. Engrained with a customer-first mindset, they offer a wide range of products and services that includes financing and leasing, investment banking, foreign exchange, and stock brokerage, as well as asset management via their subsidiaries. With a desire to assist in their customer’s financial growth, Security Bank Personal Loan is positioned as a multi-purpose, low-interest loan option that can cater to the financial requirements a customer may have. You can borrow from as low as ₱30,000 up to ₱2,000,000 with flexible payment terms starting from 12 months up to 3 years. Loan approval is relatively quick and usually takes place within 5 days. The Annual Percentage Rate starts at 29.48% with a low monthly add-on rate of just 1.89%. To be eligible, you need to have a minimum gross monthly income of ₱15,000 for Metro Manila residents and ₱12,000 for those living outside of Metro Manila.
Advantages Of Applying With Security Bank Personal Loan
- Flexible payment starting from 12 up to 36 months payment terms.
- Borrow up to ₱2,000,000.
- Low monthly income requirement of ₱12,000 for residents outside of Metro Manila.
- No guarantor or collateral required.
You can go through the product information and eligibility criteria to help you decide if this product fits your requirements.
Security Bank Personal Loan FAQ
How much can I borrow?
With a Security Bank Personal Loan, borrow as much as ₱2,000,000, subject to approval.
What are the Security Bank Personal Loan Requirements?
An applicant must fulfill Security Bank’s eligibility criteria for a loan:
If employed:- Regular and permanent with current employer and with total employment of at least one (1) year.
- For call centers, minimum employment tenure is 3 years.
- Minimum gross monthly income of ₱15,000.00 (for Metro Manila) or ₱12,000.00 (outside Metro Manila).
- For Self-Employed or Self-Employed Professionals, borrower must be the owner or a majority owner with at least 40% stake AND the business has been operating profitably for at least 2 years with at least 1 trade reference
- Minimum gross monthly income of P60,000
- Photocopy of company ID with clear photo and signature.
- Photocopy of one (1) valid government-issued photo ID with three (3) specimen signatures.
- Latest one (1) month payslip.
- Latest BIR Form 2316 or latest certificate of employment.
- One (1) valid government-issued photo ID
- Latest 1-year Audited Financial Statement (AFS) with at least the previous year’s comparative financials
- SEC Registration / DTI Certificate
- Business Permit / Mayor’s Permit
- Latest three (3) months bank statements
- Latest GIS (if corporation)
- List of 3 trade references (at least 1 supplier and 1 customer) with contact details
How will I know if my application is approved?
An SB FINANCE representative contact you via phone call on the result of your application. Alternatively, you can contact SBC's customer service at 02-88879188 to check your application status.
How will I receive my SB Finance Personal Loan?
You will be required to open a Security Bank account upon approval of your loan, and the funds will be disbursed there.
What are the payment methods for this loan?
You pay for the loan through your online account with Security Bank. It will automatically be debited on your due date, so it's highly advised that you deposit enough funds into that account before the due date.
Is Security Bank Personal Loan the right one for me?
With a mantra that places its customers as their top priority, you can be confident that the financial inquiries and assistance you need will be addressed with utmost concern and dedication. Borrow the right amount you need for whatever purpose without any collateral or guarantor needed. Having competitive rates and a quick application process, rest assured that you will receive the necessary funds when you need it most. Repayment is not to worry about, with flexible payment terms to select from that will fit your budgeting schedule. If these are the qualities that you are looking for in a personal loan product, then Security Bank Personal Loan should be the right fit for your needs.