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.

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 PHP20,000.00 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:
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 Rate
Welcome Finance Personal Loan - 24 months 1.60% -3.00% Monthly Rate
Welcome Finance Personal Loan - 36 months 1.60% -3.00% Monthly Rate