HOW TO APPLY FOR A SALARY LOAN?

Purpose. With the ongoing offers of a low-interest salary loan or personal loan option with affordable payment terms, all plans are within our reach. For many, they consider a personal loan as a lifeline or a safety net in times of a financial boost. Paying it for emergencies, education, travel, home Improvements/lot down payments, and/or car repair/ car purchase. However, this type of loan is not for everyone as it strictly follows qualifications. In this article, I will be discussing the salary loan offered by different banks and financing companies. However, I will not be discussing the famous Pag Ibig Salary Loan and SSS Salary Loan since these two are easy to apply and in most cases, it is 100% sure approval.

Eligibility. Applicant must be a Filipino Citizen of tt least 21 years old at the time of application but not more than 65 years old upon loan maturity. He must have an office or residence landline. For employed, a minimum gross monthly income of PHP15,000 for Metro Manila and PHP12,000 for outside Manila. For Self-employed professionals, the 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: PHP100,000.

Documentary requirements. A. Completely Filled out and signed application form. For an online application, go here. If you’re applying at a branch, click here to download the form.

B. If Employed. One (1) valid government-issued photo ID. Income Documents, any of the following: 1) Certificate of Employment and Compensation– issued within the last six (6) months, 2) Latest ITR3) Latest one (1) month payslip

C. If Self-Employed. 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 a corporation). List of 3 trade references (at least 1 supplier and 1 customer) with contact detail

How to Apply

 

1. Go to the Online Personal Loan Application Facility.

2.  Accomplish the form by filling out all the required fields.

3.  Attach all the scanned copies or photos of requirements.

4. Wait for an email or call from our sales team. 

After receiving the complete documentary requirements, you can expect an update in 7-business days or less. In contrast, your Loan Consultant will get in touch with you for the details of the loan application such as Lacking documents (if there are any), terms and conditions, monthly payments, and more via email or sms.