Personal Loans 70,000

Purpose of a Personal Loan

A personal Loan pertains to a loan service offered or the way in which individuals borrow a certain amount of cash to finance their basic needs. Be it for travel, education, or health and wellness matters, a Personal Loan helps people achieve their personal goals without worrying about immediate expenses.

Under Personal Loan programs, the loan provider or a bank institution allows borrowers to enter into a legal agreement by ensuring that borrowers will repay the amount which was loaned and the lender, on the other hand, will provide financing. Over the period of the agreement commonly known as loan tenure — the borrower will know when to pay back or for how long could he/she afford to repay the loan amount without needing to pay penalty fees as a consequence of late payments.

Types of Personal Loans 

Personal loans may be availed through different types of personal loans under various bank companies. Personal loans covering 70,000 worth of loan amount are as follows:

Salary Loan

Personal Loans are usually offered to employees who have not enough financial capacity to pay their bills or who are yet to receive their salary to sustain their basic necessities. UnionBank, as one of the bank firms that provide this type of personal loan, allows employees to borrow a minimum loan amount of Php 10,000 up to Php 250,000.

Flexi Personal Loan (PSBank) 

Exclusively presented by PSBank, Flexi Personal Loan allows its clients to borrow at least Php 20,000 up to Php 250,000 amount of loan. This type of loan further gives access and more options for borrowers who are in need of a fixed-term loan with a revolving credit line.

Personal Loan (Eastwest) 

Aside from other common banks, Eastwest Bank offers its own personal loan service where Filipinos may borrow Php 70,000 extra cash to fulfill their needs. In fact, its loan feature presents that loan applicants have the opportunity to borrow cash ranging from Php 25,000 up to Php 2,000,000 and shall be paid back within one to three years.

SalaryPlus Loan (Chinabank)

In Chinabank, SalaryPlus Loan is a type of personal loan which is made available for borrowers who are in need of at least Php 15,000 amount of cash. This loan amount allows clients to borrow Php 70,000 or more for as long as it would no longer be higher than Php 1,000,000 worth of cash. Borrowers may repay their initial loan for 6 to 36 months.

Personal Loan for OFWs

Different bank companies have been consistently providing Overseas Filipino Workers (OFWs) an “incentive” to extend help for their financial concerns. While regular loans are naturally provided for common clients, a personal loan for OFWs is usually offered with higher loan amounts and exclusive benefits. Should they be needing Personal Loans 70,000, lower, or more, this type of loan is best fit to obtain their needs.

10 Philippine Banks offering 70,000 worth of Personal Loans

1. BPI (Php 20,000 up to Php 2,000,000)
2. CIMB (Php 30,000 up to Php 1,000,000)
3. Citi Bank (Php 20,000 up to Php 2,000,000)
4. RCBC (Php 50,000 up to Php 1,000,000)
5. BDO (Php 10,000 and up)
6. China Bank (Php 15,000 up to Php 1,000,000)
7. Eastwest Bank (Php 25,000 up to Php 2,000,000)
8. PSBank (Php 20,000 up to Php 250,000)
9. Maybank Philippines (Php 50,000 up to Php 1,000,000)
10. HSBC Personal Loan (Php 30,000 up to Php 500,000)

Conclusion

While loan amounts may vary depending on the type of personal loan one would like to apply for, lenders’ personal loans seem to be similar to each other. The majority of loan providers, in fact, provide loan services that cover Php 70,000 worth of loan amount. With this wide range of cash options, potential borrowers will most likely be encouraged to apply for personal loans in order to meet their financial needs.