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Borrow up to ₱1,000,000 and get approved in 3 days
|Min. Financing Amount||₱50,000|
|Max. Financing Amount||₱1,000,000|
|Min. Loan Tenure||1 year|
|Max. Loan Tenure||3 years|
|Interest Rate||16.68% to 20.40% per annum|
|Approval Duration||2 to 3 business days|
|One time set up|
|Processing Fee||3.00% of approved loan amount|
|Age requirement||Age 21 - 60|
|Employment eligibility||Must be a permanent or regular employee; if probational, must be employed in the same industry or line of work for the past 2 years|
|Min. salary requirement||₱20,000 gross per month|
|Need to open linked bank account?||No|
|Other details||Loan repayments may be done through PDCs only.|
Welcome Bank is a subsidiary of Welcome Financial Group, a specialized retail banking provider from Korea established in 2002. They offer a wide range of financial solutions to retail consumers from credit lines and loans, to banking products such as savings accounts, to digital banking services.
One of their retail financial products is their Personal loan, a no-fuss collateral loan product that comes with low income and eligibility requirements, and offers a loan amount of up to PHP1 Million. They offer some of the most flexible payment terms in the market with up to 3 years repayment option.
Welcome Bank’s Personal Loan offers a fast and easy financing option that is fully processed online. You only need to fill up their application form, wait for their call for an over-the-phone loan application assessment, and you’re good to go. The loan processing period is within 2 to 3 business days.
You can loan up to PHP1 Million with Welcome Bank’s Personal Loan.
You can apply for a Welcome Bank Personal Loan through our online application form. Once you apply, our Customer Care Agent will contact you to assist with the entire application process.
Welcome Bank requires their loan application to meet the following eligibility and provide the following documents.
*Additional documents may be required during credit evaluation.
Their estimated monthly interest rate is 1.60% per month.
The loan repayment options for this loan product are 1 to 3 years.
The following fees will be deducted from your loan amount:
Meanwhile, if you have a loan with them and you don’t pay on time you will be charged a late payment fee of PHP1,500 or 15% of amortization or whichever is higher.
Their Personal Loan Calculator provides you with a rough estimate of how much your monthly amortization will be based on your desired loan amount and payment term (tenure). You only need to fill in the amount of loan you’re applying for and your preferred tenure.
You may check your loan status directly with Welcome Bank. Just go to their 'My Page' portal on their homepage.
You will receive a phone call from a Welcome Bank sales associate to schedule you for loan release.
Loan repayments may be done through PDCs only.
You can repay all your outstanding loan anytime with Pre-termination fee.
Yes. You can apply for renewal once you finish repaying half of your terms or upon reaching 6 months (whichever comes first). However, loan balance of your existing loan will be deducted from your new loan disbursement.
It is your discretion whether to apply for a Personal/Salary loan or Business Loan, as long as you pass through the qualifications.
If you’re looking for a bigger loan amount with less fuss, provided that you meet their 6-month credit cardholder requirement, the Welcome Bank Personal Happy Loan should be one of the best loan options available for you in the market today with its low interest and long repayment loan offering.
Being one of the leading banks in the country, getting a BPI personal loan should be one of your top options. With competitive interest rates starting at 14.4% per annum, you can borrow from ₱20,000 up to ₱1M payable from 1 to 3 years. Approval can be as quick as 8 - 14 banking days with a convenient repayment method of auto debit to your BPI account. To be eligible, you need to have a minimum monthly income of ₱25,000.
SB Finance which is a subsidiary of Security Bank offers a personal loan with flexible terms and at competitive interest rates. Starting at 16.68% per annum with monthly add-on rate of 1.39% per month, you can borrow from ₱30,000 to ₱2,000,000 payable up to 3 years. Approval can be as fast as 3 - 5 banking days, eligible to those with at least ₱15,000 monthly income.
A leading international bank, Citi is present across the globe and has been in business in the Philippines for more than a century. With the Citi personal loan, you can borrow a high loan amount of up to ₱2,000,000, payable up to 5 years! There is no collateral or guarantor required. You only need a minimum monthly income of ₱21,000 and an existing credit card.
There are more options for you to choose from. Check our entire list of personal loans in the Philippines so you can be guided as to which product best suits your need.