• Interest rate (p.a.)

    16.68% - 20.40%

  • Loan Tenure

    1 - 3 years

  • Approval Duration

    2 to 3 business days

  • Min. monthly income


Loan calculator
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What's so great about Welcome Bank Personal Loan?
  • Borrow up to ₱1,000,000 and get approved in 3 days

Product Features

Min. financing amount₱50,000
Max.financing amount ₱1,000,000
Min. loan tenure1 year
Max. loan tenure3 years
Interest rate16.68% to 20.40% per annum
Approval duration2 to 3 business days
Debt consolidationNo

Fees & Charges

One time set up
Processing fee3.00% of approved loan amount
Stamp duty₱400


Age requirementAge 21 - 60
Employment eligibilityMust 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

Other Requirements

Need to open linked banked account?No
Other detailsLoan repayments may be done through PDCs only.

Product Review byiMoney

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.

Welcome Bank Personal Loan FAQ

How much can I borrow?

You can loan up to PHP1 Million with Welcome Bank’s Personal Loan.

How can I apply for Welcome Bank 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.

What are Welcome Bank Personal Loan's Requirements?

Welcome Bank requires their loan application to meet the following eligibility and provide the following documents.

Eligibility requirements:

  • Filipino citizen, at least 21-65 years of age.
  • Employed for at least 1 year with a minimum PHP20,000.00 monthly salary/income.
  • An active credit card holder for 1 year with a minimum credit limit of PHP20,000.00.

Required documents:

  • Two (2) Valid government IDs
  • Two (2) months recent payslip
  • COE (with position, tenure, and annual income)
  • Latest ITR
  • Two (2) months credit card statement
  • Utility Bill (under your residential address)

*Additional documents may be required during credit evaluation.

What is Welcome Bank Personal Loan’s interest rate?

Their estimated monthly interest rate is 1.60% per month.

What is the loan tenure for Welcome Bank Personal Loan?

The loan repayment options for this loan product are 1 to 3 years.

Are there any other applicable fees and charges?

The following fees will be deducted from your loan amount:

  • Processing Fee - 3% of Approved Loan Amount
  • Notarial Fee - Php400
  • Documentary Stamp Tax - Approval Loan Amount / 200 * 1.5
  • 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.

    How does the Welcome Bank Personal Loan Calculator work?

    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.

    How can I know the status of my application?

    You may check your loan status directly with Welcome Bank. Just go to their 'My Page' portal on their homepage.

    How will I know if my loan is approved?

    You will receive a phone call from a Welcome Bank sales associate to schedule you for loan release.

    What is the mode of payment for repaying the loan?

    Loan repayments may be done through PDCs only.

    What if I want to pay my loan immediately and do not want to finish the terms?

    You can repay all your outstanding loan anytime with Pre-termination fee.

    I finished my loan repayment, can I apply again for renewal?

    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.

    I am employed but also with a business, can I apply for Welcome Bank Personal Loan?

    It is your discretion whether to apply for a Personal/Salary loan or Business Loan, as long as you pass through the qualifications.

    Is Welcome Bank Personal Loan the right one for me?

    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.

    Here are some of the top personal loan products in the market that you can also consider:

    BPI Personal Loan

    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 Personal Loan

    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.

    Citi Personal Loan

    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.