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10 minutes loan approval.
Borrow up to ₱1,000,000.
No processing fees.
Loan terms from 12 to 60 months.
|Min. Financing Amount||₱30,000.00|
|Max. Financing Amount||Up to ₱1,000,000.00|
|Min. Loan Tenure||1 year|
|Max. Loan Tenure||5 years|
|Interest Rate||Fixed rate of 13.47% - 23.36% per annum, 1.12% to 1.95% per month add-on|
|Approval Duration||Within 10 minutes|
|One time set up|
|Stamp Duty||₱1.50 per ₱200 (fraction of) – to be deducted from disbursed loan amount|
|Disbursement & misc. fee||N/A|
|Late Payment Charges||5% from outstanding due amount or ₱300, whichever higher|
|Age requirement||Age 21 - 65|
|Employment eligibility||Employed or self-employed with at least ₱15,000.00 monthly income|
|Min. salary requirement||₱15,000 gross per month|
|Guarantor / Collateral requirement||No|
|Need to open linked bank account?||No|
|Other details||Method of payment - Both Online Banking (via DragonPay) and Over The Counter (Bayad and via Dragonpay). Also payment through CIMB Savings Account (manual payment or auto debit)|
CIMB Bank is one of the top 5 largest banks by assets in ASEAN originating from Malaysia. Available in 16 global markets, they are now expanding to the Philippines to provide a seamless and highly efficient banking experience as an all-digital, mobile-first bank headquartered in Bonifacio Global City. Offering the best market rates, no initial deposit, and maintaining balance requirements on their savings accounts, their primary advantage lies in speed, simplicity, and security of their banking services that are free from transaction fees and all done in a matter of minutes using their mobile app. As for their personal loan product, you can borrow up to a maximum amount of ₱1,000,000 with initial approval in as fast as 10 minutes! With a highly competitive monthly add-on interest rate ranging from 1.12% to 1.95%, you can also enjoy zero processing fees and early settlement fees with a loan tenure of up to 5 years.
Advantages Of Applying With CIMB Bank Personal Loan:
If you want to avail, take a look at the rest of the details below for more information regarding the product.
An unsecured personal loan doesn’t require post-dated checks, a credit card, or a CIMB bank account. This loan is processed completely online using their app.
CIMB stands for Commerce International Merchant Bank. It's a legitimate bank originating from Malaysia and is regulated by the Bangko Sentral ng Pilipinas, thus it's a safe bank to transact with.
You can apply for a CIMB Personal Loan through the CIMB app, or you do it conveniently through our apply form
You must be currently employed for 6 months and at least have a monthly income of ₱15,000 to be eligible for the loan. If you meet these two criteria, you will be eligible to apply for the loan.
With an CIMB Bank Personal Loan, borrow as much as ₱1,000,000, subject to approval.
Monthly add-on rates range from 1.12% to 1.95% (corresponds to annual contractual rates of 24%, 30%, or 36%). Document stamp tax of ₱225 and disbursement fee of ₱500
The CIMB Bank Personal Loan calculator computes the estimated cost of borrowing and amount of payment per instalment. Input the desired loan amount to automatically get the estimated monthly amortization for different tenors.
An applicant must fulfill CIMB Bank’s eligibility criteria for a loan:
The basic documents required will be the following: An income document such as your payslip or ITR, proof of address such as your bank statement or utility bills, and 2 or 3 valid IDs.
Employed applicants need:
Self-employed applicants need:
*Additional documents may be required during credit evaluation.
The loan approval and disbursement is only within 24 hours from the time you've completed the loan application process in the app.
You can check the loan application status through the app. On your app's homescreen, click the "product" option at the botton, the choose "personal loan".
The approved loan amount will be sent directly to your CIMB account.
On your app's homescreen, click the "product" option at the botton, the choose "personal loan".
You do online payment using dragonpay or visit of their 8000+ partner locations such as bayad nationwide and pay over the counter. But first, go to your app and find the payment details under "My Personal Loan" section.
Early settlement is allowed but you are still expected to pay the agreement amount with the interest rates in full.
You can reloan once you've completed a loan cycle.
You can cancel your cimb personal loan application anytime until its approval stage. Simply go to the "Loan Summary" under the "Personal Loan" page in your app. Just click the "Leave Application" should you decide to cancel it.
The only thing you can do is to wait for another six months to apply for CIMB Personal Loan again. During that time, it's best to open a CIMB account and build a good credit record with it.
You need to reach the required GScore in your Gcash to be eligible for the CIMB loan via Gcredit. You can increase your score simply by using Gcash to pay your bills, invest, or save money. You can go to your Gcash app and find "Gcredit" to see more information.
Gcredit's interest rate is as low as 3%
Yes, you can use Gcash to pay your CIMB loan. You can find that option under "Loans" in Gcash.
You can borrow as much as ₱30,000 with Gcredit.
Your Gscore will determine your eligibility for the Gcredit. If you haven't reached the required score, you will not be eligible.
Given the astonishing pace of today’s technology, advancements in banking and finance is leading the way in changing the process on how you perform money transactions. Having the primary aim of providing services that will make financial processes as seamless and effortless as possible, CIMB Bank is now bringing their brand of digital banking to the Philippines. With convenience as their key point, they have invested heavily on their mobile app to provide a high quality digital platform while strategically partnering with a network of fund transfer providers such as Gcash, Myeg, Dragonpay, 7-eleven, Bayad Center, and Pesonet to help deliver their services to the widest audience as possible. As their plan rolls into motion, expect better, faster, and easier financial transactions covering their savings account and personal loan products.
RFC guarantees you’ll receive the funds you need when you need it most. A fully Filipino-owned company for more than 50 years, RFC offers a variety of financial solutions that can cater to different requirements ranging from car loans to business loans. As for their personal loan that caters to the common everyday employee, with a minimum gross salary of just ₱7,000 per month, you can take a loan starting from ₱5,000 up to ₱50,000 without any collateral. With an interest rate starting at 3.5% per month, you can repay the loan with flexible tenure from 3 up to 12 months. The application process is fast and efficient, with cash disbursement within 3 - 5 working days.
Even as a newcomer in the lending industry, Tala Philippines is as efficient as they come. Available in select countries worldwide, Tala offers a highly convenient option in accessing fast and reliable loan services straight from their mobile app. Just download their Android app and you can easily apply for a loan in just a few taps! Without having to worry about the required minimum monthly income, you can borrow from as low as ₱1,000 up to ₱10,000 without the need to have a credit card or provide any form of collateral. You can receive fast approval within the same day and cash disbursement the day after. The interest rate starts from 15% - 15.7% per month and you just have to be 18 - 65 years of age.
As one of the stronger, Filipino-owned, private universal banks in the country, Security Bank focuses on the customer’s needs with bespoke financial services that would cater to any type of requirement. For those in need of urgent funds, the Security Bank personal loan is a multi-purpose, low-interest instrument that could remedy a borrower’s cash-strapped situation. With a loan amount starting from ₱30,000 to as high as ₱2,000,000, you can borrow with flexible payment terms ranging from 1 up to 3 years. Easily get the cash you need in as fast as 5 business days from the time of application. The annual interest rate starts at 29.48% with a low monthly add-on rate of just 1.89%. To qualify, you need to have at least ₱15,000 gross monthly income for those living within Metro Manila, and ₱12,000 for those living outside. You have to be 21 - 65 years of age to be eligible.
There are still other options available that could match your funding requirements, be it for business or personal use. You can browse through our list of online cash loan providers, review their terms and conditions, and choose the right product that fits your need.