Security Bank Personal Loan

Security Bank Personal Loan Salient Features

Minimum Loan Amount: Php30,000

Maximum Loan Amount: Php2,000,000

Loan Term: 12 to 36 months

Estimated Annual Percentage Rate: 37.53%

Approval Time:

Other Fees & Charges:

• Processing Fee – Php2,000
• Notarial Fee – Php100 (For loans Php100,000 and up)
• Late Payment Fee – 3% of unpaid amortization

Eligibility

• At least 21 years old at the time of application but not more than 65 years old upon loan maturity
  • Must be a Filipino Citizen
  • Must have an office or residence landline.

• If Employed
  • Minimum gross monthly income:
  • For Metro Manila: PHP15,000
  • For outside Metro Manila: PHP12,000

• If Self-employed:
  • For Self-Employed or Self-Employed Professionals, 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

Requirements

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

If Employed:

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

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 corporation)
• List of 3 trade references (at least 1 supplier and 1 customer) with contact details

Why Choose Security Bank for a Personal Loan?

Security bank is in the list of the best and most trusted banks in the Philippines, which explains why more Filipinos are now choosing Security Bank in availing their Personal loans.

Here are some of the reasons why people should go for a Personal Loan with Security Bank:

Easier to Qualify

Security Bank understands the struggle of most of the Filipinos who need funds but always struggle meeting the requirements. With them, you only need a few documents to be qualified, such as a valid government-issued photo ID and proof of income. 

Hassle-free Online Application for Personal Loans

Branch loan applications can be time consuming and will sometimes require a frequent back and forth, especially when the documents submitted are not complete. With Security Bank, loan applicants can complete the application process online. 

Speed and Convenience

The processing and approval of loan applications will be provided within five working days. This is especially crucial for those who are borrowing money to deal with financial emergencies. 

Low Interest Rate

Security Bank is one of the banks in the Philippines that offers loans with low rates of interest. Their interest add-on rate starts at as low as 1.89% for loan terms of 12 to 36 months. Borrowers no longer have to worry about making a loan repayment because 

How to Apply for a Personal Loan with Security Bank?

Here are the steps on how to apply for a Security Bank Personal Loan online:

1. Visit the Security Bank website and click the Loan tab under “Personal”. 
2. After going to the Personal Loan’s page, you will see two options: “Apply Online Now” and “How much can you loan?”. To directly apply, click on the “Apply Online Now” to proceed to the next steps. 
3. Completely fill up the loan application form and attach all the required documents. 
4. Accept the terms and conditions and click on submit. 
5. Wait for the confirmation of your loan application – usually within 5 days provided the documents submitted are complete.

Conclusion

With just a few steps, borrowers can now avail of a personal loan through Security Bank that is convenient and offers a low-interest rate that will help someone address their financial needs without further crippling them financially.