DBP Personal Loans

Personal Loans with DBP

DBP is chartered to function as a Development Bank and almost all functions of a Thrift Bank. Because of this, the financial products and services that they offer are limited as opposed to commercial banks and universal banks. This may be the case, they still offer a Personal Loan through their EC Credit Salary Loan, government employees can initiate their loan applications to use the proceeds for their personal necessities. 

DBP Personal Loan Features

Loan Range: Php10,000 to Php1,000,000

Annual Percentage Rate (APR): 6.62% to 33.58%

Loan Term: 12 months to 48 months

Processing Time: 5 working days

Although the EC Credit Salary Loan is only available for government employees, the benefits that can be obtained from this product are more than advantageous for the borrower because of the terms that they offer. It is meant to help people address their needs without having to force to have to struggle to make monthly payments on their debt. 

Personal Loan Purpose

There are many reasons why a person will need to apply for a Personal Loan. Among them are the following:

• For Debt Consolidation
• Home Renovation
• Emergency Expenses
• Major Purchases
• Vehicle Financing
• Educational Purposes
• Major Life Celebrations
• Capital to Start a Small Business 

The good thing about applying for a Personal Loan is that you can use the loan proceeds for whatever reason you may need it. It could be for home renovation alone or it could be that and to settle some debts, pay for your child’s tuition and pay for the down payment of a brand new car. 

The truth is that personal loans help people better position themselves financially, in order to take care of more pressing concerns so that they reach a status of financial independence and security in the future. Debt is not always bad – sometimes people need it to propel themselves into a better future for themselves and their families. 

Conclusion

DBP Personal Loan is a way for people to address many of their financial woes. With DBP’s fast processing, minimal documentation requirement, and attractive loan features, their product is designed to help many Filipino government employees with their financial goals without the burden of high repayment fees and short repayment periods.