- Interest Rate
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Enjoy terms of up to 36 months.
Use the loan for whatever you need.
Borrow any amount from ₱50,000 to ₱1,000,000.
|Min. Financing Amount||₱50,000.00|
|Max. Financing Amount||Up to ₱1,000,000.00|
|Min. Loan Tenure||1 year|
|Max. Loan Tenure||3 years|
|Interest Rate||Fixed rate of 17.40% per annum, 1.45% per month add-on|
|Approval Duration||Up to 5-7 banking days|
|One time set up|
|Processing Fee||₱2,000.00 (employed) / ₱2,500 (self-employed)|
|Stamp Duty||₱1.00 for every ₱200.00 in excess of ₱250,000.00 of the loan amount|
|Disbursement & misc. fee||N/A|
|Early Settlement||None if you have informed the bank one month ahead.|
|Late Payment Charges||₱300.00 or 5% p.a. on any balance outstanding, whichever is higher|
|Age requirement||Age 21 - 60|
|Employment eligibility||At least ₱30,000.00 monthly income|
|Min. salary requirement||₱30,000 gross per month|
|Guarantor / Collateral requirement||No|
|Need to open linked bank account?||Yes|
|Other details||Method of Payment - Post-dated checks|
If you haven’t heard about Sterling Bank of Asia, you would be surprised that it is actually part of their strategy. A relatively new provider in the banking and finance industry, they opened their first branch in March 2007. What started with 7 branches, has now grown to 47 branches located at key areas nationwide. Focused on offering a different kind of service, they target a segmented client base for both retail and commercial banking needs. They provide a wide range of services from deposits, loans, investments, and other financial products catering to small to medium enterprises, large-scale corporations, and retail customers alike. The personal loan offered by Sterling Bank of Asia is a non-collateral loan with borrowing amounts ranging from ₱50,000 to ₱1,000,000 having flexible payment terms starting from 12 months up to 36 months. The fixed interest rate is 17.4% per annum with add-on rate of 1.45% per month. The approval duration for this loan would take about 5 to 7 banking days. Borrowers will be eligible if they earn at least ₱30,000 monthly gross income with the need to open a bank account.
Advantages Of Applying With Sterling Bank of Asia Personal Loan
Go over the details on this page for more information regarding this product.
Simply fill out the online application form and submit the requirements needed. Expect a call from our Customer Care Agents to assist you with your application.
With a Sterling Bank of Asia Personal Loan, borrow as much as ₱1,000,000, subject to approval.
Interest rate is 16.80% of the principal amount. There is a one-time processing fee of ₱2,000.00 (employed) / ₱2,500 (self-employed). There is a late payment fee of ₱300.00 or 5% p.a. on any balance outstanding, whichever is higher. Early settlement fees will not be incurred if you inform the bank one month ahead.
Am I eligible to apply for a Sterling Bank of Asia Personal Loan? To be eligible to apply for a personal loan, here are the eligibility requirements:
Consequently, after filling out an application form, the following documents are necessary:
Fully Employed applicants need:
Self–Employed applicants need:
*Additional documents may be required during credit evaluation.
Application and approval of the personal loan will take 5 to 7 business days.
You can have a monthly loan term of 12 months to 36 months depending on your loan amount.
Payment method for Sterling Bank of Asia Personal Loan is through post-dated checks.
You can check the status of your personal loan application by reaching out using these methods.
Yes. You can use the Sterling Bank Personal Loan for anything you need like starting a new business, settling an old debt or going on a vacation.
This link can lead you on how to download the Sterling Bank of Asia Personal Loan application form.
The Sterling Bank of Asia 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.
As a relatively new comer in the banking industry, Sterling Bank of Asia demonstrated that they can go head-to-head with the major players by going for a more customized service aimed at a segmented client base. With sheer determination and a more focused approach towards their clientele, they are able to provide a high level of service with products that fit their client’s needs to a tee. Being a new brand can be a cause for concern for most of the consumers, however, if their level of professionalism is evident on how they conduct business compared to other providers, no doubt it would be a good decision to choose them as your partner provider.
Being one of the biggest international banks, HSBC Personal Loan offers flexible payment terms of 6 months to 3 years where you can borrow from as little as ₱30,000 to ₱500,000. Interest rate is also competitive at 1.21% add-on rate per month. To apply, you must be at least 21 but below 60 years old upon loan maturity and have a minimum gross monthly income of just ₱14,000.
With EastWest Bank Personal Loan, you can quickly receive additional cash for any funding requirements that you may have. Borrow amounts ranging from ₱25,000 to ₱2,000,000 at only 18% interest rate per year, payable in 1-3 years. You have to be 21-65 (upon loan maturity) years of age with a minimum monthly income of ₱15,000 in order to be eligible.
As one of the most well known banks in the world, Citibank Ready Credit Personal Loan offers a zero collateral, multi-purpose loan with highly competitive rates. For as low as 17% fixed effective interest rate per annum, you can borrow from ₱20,000 up to a maximum of ₱2,000,000. Loan tenure is flexible, ranging from 1 up to 5 years. To be eligible, you need to have minimum ₱21,000 gross monthly income and at least 21 but not more than 65 years of age upon loan maturity.
If you haven't found the right option for you, we suggest that you visit our complete list of Personal Loan Lenders available on our website and find out which one matches your requirement.