SB Finance Review

Company Information

SB Finance is a joint partnership between Security Bank and Krungsri, a Thailand-based bank also known as Bank of Ayudha, with a vision to become the financial institution that comes to the top of minds of Filipinos looking for access to financing their personal goals in life. The company comprises ten visionaries who make sure that their goals are achieved. 

True to its vision to become the most customer-centric bank in the Philippines, SB Finance is currently one of the major commercial banks serving clients from all walks of life. Over the years, the bank has garnered numerous awards for being one of the most stable and reliable banking institutions.

To date, SB Finance provides a digitally enhanced solution that is ideal for today’s environment. Thanks to SB Finance’s simple and quick application process and extensive and flexible financial packages, Filipinos can now achieve their financial goals. 

The company’s headquarters can be found at Keyland Arnaiz, 849 Antonio Arnaiz Avenue, Legazpi Village, Makati City, 1220. SB Finance operates legally in the Philippines under SEC Registration No. CS0017174A and Certificate of Authority No. 1142.

Inquiries and comments can be directed to their 24-hour Customer Service hotline at (+632) 8887-9188, or they can be emailed to [email protected].

Products and Services offered

Personal Loan

This is a multi-purpose cash loan that is completely collateral-free, allowing borrowers with different needs have access to loans when they need them as soon as possible. 

Loan Features

Loan Amount: ₱200,001 – ₱2,000,000

Interest Rate: 37.53%

Loan Term: 12 months – 36 months

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.

• Must meet the salary criteria:
  • If Employed:
    • For Metro Manila: ₱15,000
    • For outside Metro Manila: ₱12,000
  • If Self-employed:
    • For Self-Employed or Self-Employed Professionals, the 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 of ₱60,000

Requirements:

• Completely filled out and signed the application form. 
• If Employed:
  • One (1) valid government-issued photo ID
  • Income Documents, any of the following:
    • Latest (1) month payslip
    • Certificate of Employment and Compensation – issued within the last six (6) months
    • Latest ITR
• 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 a corporation)
  • List of 3 trade references (at least 1 supplier and 1 customer) with contact details

*Note: Additional documents may be required to process the loan.

Car4Cash

Those who need immediate cash may use their car as collateral for the cash loan if the application is approved. The borrower simply puts up the car’s OR/CR as collateral while the borrower keeps the car and continues to use it. 

Loan Features

Loan Amount: will depend on the appraised value of the vehicle

Interest Rate: starts at 26.62% if the add-on rate is 1.25% per month

Loan Term: 12 months – 36 months

Eligibility & Requirements

The eligibility criteria and requirements are the same as the personal loan, but additional documents may be needed. 

Hooloogan

Hooloogan is available via the Zukì mobile app. The product provides a cash credit line that allows SB Finance’s customers to use it for cash loans or in-store financing at accredited merchant partners, or it can also be used for both purposes.  This way, people will be able to purchase what they need as if they have a credit card and pay for only minimal fees. 

Loan Features

Credit Line: ₱10,000 – ₱200,000

Interest Rate: monthly add-on rate of 3.50%

Loan Term: up to 48 months

Eligibility & Requirements

The eligibility criteria and requirements are the same as the personal loan, but additional documents may be needed. 

MotorsikLOAN

A lot of Filipinos prefer to travel by motorcycle rather than travel by car because of the heavy traffic. But most importantly, they prefer it because it is more economical and budget-friendly. This product is available to both employed and self-employed individuals who wish to have a more comfortable way of traveling. 

Loan Features

Loan Amount: up to ₱2,000,000

Interest Rate: monthly at 2.47% (for regular medium bikes), 1.2%(for high-ends)

Loan Term: 12 months to 36 months (for regular medium bikes), up to 48 months(for high-end bikes)

Requirements

Employed

For salaried applicants:

• Photocopy of one (1) valid government-issued photo-bearing ID
• For non-Filipino citizens: Alien Certificate of Registration
• Proof of income (any of the following)
  • One (1) month latest payslip
  • Bank statement (last three (3) months) or passbook
  • Certificate of Employment (COE)

For OFW Beneficiaries:

• Photocopy of one (1) valid government-issued photo-bearing ID
• Proof of income (any of the following)
  • 1-month latest allotment or remittance slips
  • Bank statement (last 3 months) or passbook
  • Certificate of employment from foreign employer
  • Employment contract (OFW)

Self-employed

• Photocopy of one (1) valid government-issued photo-bearing ID
• For non-Filipino citizens: Alien Certificate of Registration
• Proof of income (per category)

For Registered Business

Proof of income:

• Latest one (1) year Financial Statements (unaudited or audited), OR
• Latest three (3) months bank statements or passbook,
• Business Registration Documents :
• SEC / DTI Certificate of Registration, OR
• Business Permit / Mayor’s Permit, AND
• Latest GIS (if a corporation)

If a non-registered business such as stores, rental business; salon business; small canteens, etc:

Proof of income:

• Latest three (3) months bank statements
• Other documents as proof of income at least 1 month e.g. sales invoice, trade receipts,
  e-wallet transaction history
• Barangay Business Permit

For Public Vehicle – Jeepney and Tricycle Drivers and Owners / Operators:

Proof of vehicle ownership:

• OR/CR of the vehicle under the borrower’s name,
• Deed of Sale in favor of the applicant

Proof of vehicle operation

• Copy of Franchise
• Association membership Certification
• Tricycle / Jeepney Operators and Drivers Association ID

For TNVS – Grab / Angkas1 / Lalamove / FoodPanda Riders:

Proof of vehicle operation

• Grab / Angkas / Lalamove / FoodPanda Registration
• Latest three (3) months transaction history

For Agricultural Sector (Farmers or Agricultural Land Owners):

• Barangay Certification or BARC (Barangay Agrarian Reform and Council) Certification or;
• Copy of the Land Title
• Trading Documents / Irrigation Receipts

Zuki App

The Zuki App is the digital platform introduced by SB Finance for their existing and new customers to access their products and services. Through the Zuki app, those interested in financing can avail of their loan products such as Personal Loan, Car4Cash, Hooloogan and Motorsikloan. 

Why Choose SB Finance

Easy Application Process

Unlike other financial institutions Filipinos can approach, the application process with SB Finance is 100 percent digital. To start their journey with SB Finance, users must first download the Zuki app from Google Play and register their complete information to create an account. After that, they may begin applying for the financial solution that their circumstances demand. 

In terms of requirements, there is no need to visit the nearest branch because the user will be prompted to upload supporting documents during the online loan application. 

No Collateral and Credit Card Needed

Borrowers have a better chance of accomplishing their financial goals without any worries if they get help from SB Finance. Customers who might avail of the company’s consumer loan products no longer have to give up their automobile or possessions in return for the funds they need. Furthermore, the company does not request credit card information from its customers, which simplifies things considerably. 

Extensive Payment Channels

In addition to a wide selection of loan solutions that cater to the needs of every Filipino, SB Finance provides its customers with convenient payment channels. Borrowers may opt to pay either physically or remotely – whichever method is most suitable for them. 

Borrowers may pay through Security Bank branches (Over-the-Counter or ATMs), Automatic Debit Arrangements (ADA), and Online/Mobile Banking. SB Finance has also partnered with additional Over-the-Counter payment channels for customer convenience, including Cebuana Lhuillier, RD Pawnshop, CVM Pawnshop, Gaisano Malls, and 7 Eleven. 

Buy Now, Pay Later Plans are Available 

SB Finance offers a service that allows Filipinos to shop at their favorite stores in installments.

Customers can use their credit line to purchase items from partner merchants and receive a cash loan ranging from ₱10,000 to ₱200,000 payable within 48 months. Customers can also use Hoologan to obtain quick cash for a monthly fee of no more than 10%.

Easy to Get Your Dream Motorcycle 

Filipinos have fallen in love with motorcycles and prefer two wheels to four on the road. One of the reasons people get on motorcycles is that it is the only way to get through the rush-hour traffic, especially in urban areas. Aside from that, several Filipinos regard motorbikes as a less expensive alternative to cars and other four-wheel vehicles.

MotorsikLOAN by SB Finance is available to employed and self-employed individuals seeking to purchase new or second-hand motorcycle units. They are eligible for up to 2 million worth of motorcycles payable up to 48 months. 

How to Sign Up 

Conclusion

As the country begins to recover from the economic consequences of the global COVID-19 pandemic, Filipinos’ access to financial products and services becomes increasingly crucial to keep up with the developments. Such is the significance of SB Finance in the lives of all Filipinos. The company offers a quick and straightforward application process and a wide range of consumer loan products without burdening its consumers with excessive paperwork.

With its developed services that allow Filipinos to get the financial help they need remotely, it can be concluded that serving Filipinos who lack financial competence to reach their dreams and improve their lives has always been the top priority of SB Finance.