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UCPB Personal Loans

One of the personal loan providers in the Philippines is UCPB, short for United Coconut Planters Bank and formerly known as Cocobank. UCPB is one of the largest banks in the country that offers reliable and affordable banking services and a wide range of financial products. UCPB Personal Loans are an attractive option when Filipinos require immediate cash to meet personal demands.

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Written by: Piggyy

Verified by: Krisette C.L

Krisette C.L

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Krisette has been hustling online media industry since 2011. She's a copywriter, editor, and online media consultant.

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UCPB

Take advantage of competitive loan rates. Apply for a loan with UCPB now.

Editor’s Note: The United Coconut Planters Bank (UCPB) is not offering an exact product under the name “Personal loan”. The article is referring to UCPB’s Salary loans since these are the loans that UCPB offers to individuals, non-business, and customers.

 

What is a Personal Loan?

 

Personal loans allow borrowers to cover a variety of personal expenses. Personal loans in the Philippines are available through banks and private or online lending companies. They are either secured or unsecured and have varying fees, interest rates, loanable amounts, and repayment terms. 

 

UCPB Personal Loan Features

 

Minimum AmountMaximum AmountMinimum Loan TermsMaximum Loan TermsInterest Rate
Php 50,000Php 300,00024 months36 months1.50% per month

 

Other Fees and Charges

 

It is also important for borrowers to be aware of the different charges and fees that are attached to their loan applications. Some of them are the following: 

 

Deducted from the Loan Proceeds/Shouldered by the Borrower

  • Processing Fee – Php1,500
  • Documentary Stamp Tax – Php0 if the loan amount is Php250,000 and below; Otherwise, every Php200 is charged Php1.50 or a fraction thereof
  • Loan Certification – Php300
  • Payment History Certification – Php300
  • Term Amendment – Php5,000

 

Not Deducted from the Loan Proceeds 

  • Late Penalty Fee – 5% each month for the amount that is due

 

Qualifications

 

  • Must be a Filipino Citizen with permanent residency in the Philippines
  • At least 23 years old at the time of loan application but not older than 65 years old upon loan maturity
  • Member of UCPB checking account or credit card
  • If employed:
    • Must have permanent employment for at least two (2) years with the supervisory rank 
    • Must have a minimum gross monthly income of Php 30,000
  • If self-employed:
    • With the business operation of at least three (3) years and profitable  for the past two (2) years, in the same line of business

 

Required Documents 

 

The following documents must be prepared when applying for a UCPB Yes (Your Easy Salary) Personal Loan:

  • At least two (2) valid government-issued photo IDs
  • Credit card billing statement for the last 2 months 
  • Latest Utility Bill of residence 
  • For employed applicants:
    • Certificate of Employment/Income or Contract of Employment
    • Three (3) months Payslips 
    • Latest Income Tax Return (ITR)
  • For self-employed applicants:
    • Business Registration (DTI/Mayor’s Permit/SEC Registration)
    • Audited Financial Statements for the previous three (3) years/Proof of BIR tax payment with BIR stamp
    • Most recent In-House Financial Statements
    • List of institutional clients and suppliers, along with contact information
    • Six (6) months of bank statements or photocopy of Passbook transactions 

 

Note: Additional documents may be required for credit evaluation. 

 

How to Apply for UCPB Personal Loans

 

  1. Visit the nearest UCPB branch to get a copy of the Loan Application Form or download a soft copy available from the UCPB website. 
  2. Submit the duly filled-up application form and the needed documents to the nearest branch of the receiving bank or upload the files online. 
  3. Wait for the loan application status, which will take about 5 to 7 banking days. 

 

Why Choose UCPB Personal Loan

 

Applying for a loan with UCPB is simple and requires only very minimal documentation. In addition to that, the interest rate they charge per month is one of the lowest in the country at only 1.50%. This makes the repayment of loans easier and more affordable because it can be repaid for up to 36 months.

Rating

4.7/5
UCPB

Take advantage of competitive loan rates. Apply for a loan with UCPB now.

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Conclusion

 

When applying for personal loans from UCPB, the borrower should plan how to spend and repay the borrowed funds, weigh the pros and cons of the loan, and consider other available alternatives before committing to avoid further financial problems. 

 

With the easy loan application process with UCPB, borrowers are assured that they will be able to have a bank that they can rely on in times of immediate need. 

Piggyy

״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates

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