China Bank Personal Loans

With China Bank Personal Loans, borrowers will be able to secure their financial needs and help them grow their dreams. When borrowers apply for a personal loan, the following goals will be achieved:

• Education
• Emergency and Health
• Home Renovation
• Travel
• Debt Consolidation
• Personal Consumption
• Other Personal Goals

China Bank Personal Loan

The SalaryPlus Loan is the Personal Loan that is available with China Bank offered to employees of companies already accredited with them.  

Personal Loan Features

Loan Amount: Php15,000 to Php1,000,000

Loan Term: 6 months to 36 months

Approval Period: within 2 to 3 banking days

Other Fees:

• Processing Fee
• Documentary Stamp Taxes: Php1.50 for every Php200 or a fraction thereof of loan proceeds for loans above PHP250,000 or loan purpose is for business use.
• Late Penalty Fee: 36% per annum on all overdue amortizations. This is subject to change with prior notice.

Eligibility

• Regular employee
• Must be 21 to 65 years old
• Gross monthly salary of PHP 15,000
• Minimum work tenure of 2 years
• No pending case or is not subject to any internal investigation or complaint
• No negative credit findings

Requirements

• Accomplished SalaryPlus application form
• Latest 3 months payslips
• Company ID and 1 government-issued valid ID
• Certificate of Employment

Approval and Disbursement

Borrowers will be able to receive the amount of cash applied for as quickly as the loan approval within two (2) to three (3) banking days upon signing the Promissory Note and Disclosure Statement. 

How to Apply for China Bank SalaryPlus

Below are the following simple steps a borrower may follow to avail of the China Bank Personal Loans:

1. Ensure that the company you work for is accredited.
2. Download and fill out the application form. 
3. Submit your application form with the basic requirements to your company Human Resource or Relationship Manager for qualification.

If the company that the borrower is working for is not yet accredited, they may do so by checking the eligibility criteria and fulfilling the following requirements:

• Must be an existing China Bank corporate client coursing its payroll through China Bank
• With a minimum of 50 regular employees
• Operating for at least 5 years
• Profitable for at least 3 years
• SEC-registered
• Submit the following:
  • Memorandum of Agreement
  • Secretary Certificate or Board Resolution nominating the Authorized Signatories of the Company

Conclusion

China Bank helps Filipinos achieve their personal goals through loan products that are accessible and convenient for in-person and online applications. Applying for a personal loan can sometimes pose a challenge because there are too many options out in the market. But knowing the best fit for your needs without sacrificing a lot of your financial means will be able to help you and your family in the long run. After all, a loan is supposed to help people have a boost in their finances, not cripple them further.