• Interest rate (p.a.)

    4.00% - 4.00%

  • Loan Tenure

    1 - 2 years

  • Approval Duration

    2 to 3 business days

  • Min. monthly income


Loan calculator
Loan amount
Loan tenure
Monthly salaryRM0
Interest rate (p.a)


Monthly Repayment


Total Interest Payable₱0
Total Amount Payable₱0
What's so great about Welcome Bank Salary Freedom Loan?
  • Fast approval salary loan, no credit card required

Product Features

Min. financing amount₱20,000
Max.financing amount ₱150,000
Min. loan tenure1 year
Max. loan tenure2 years
Interest rate4.00%
Approval duration2 to 3 business days
Debt consolidationNo

Fees & Charges

One time set up
Processing fee3.00% of approved loan amount
Stamp duty₱400 (includes notarial fee)


Age requirementAge 21 - 60
Employment eligibilityMust be permanent or regular employee; if probationary, must have been employed in the same industry or line of work for the last 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.

Their Salary Freedom Loan is among the most consumer-friendly loan products available in the market today. It does not require a credit card to apply, making it accessible to all employed individuals in the country. Regardless of your status or financial standing, as long as you’re fully employed for 1 year, you should be eligible for Welcome Bank’s Salary Freedom Loan.

Welcome Bank Salary Freedom Loan FAQ

How much can I borrow?

You can loan PHP20,000 to PHP150,000 from Welcome Bank’s Salary Freedom Loan.

What are Welcome Bank Salary Freedom Loan’s requirements?

Welcome Bank requires their loan applicants to meet certain eligibility requirements and provide the following documents.

Eligibility requirements:

  • Filipino citizen, at least 21-65 years of age.
  • Employed for at least 2 years with minimum PHP20,000.00 monthly salary / income for non-BPO employees and PHP27,000 for BPO employees (officer level only).
  • Permanent/regular employees only, if probationary, must be in the same line of work or industry for the last 1 year.
  • With verified landline or postpaid number.

Required documents:

  • Fully accomplished loan application form.
  • Two (2) Valid government IDs.
  • Two (2) months recent payslip.
  • COE (with position, tenure, and annual income).
  • Latest ITR.
  • Utility bill (under applicant’s name and present home address)

*Additional documents may be required during credit evaluation.

What is Welcome Bank Salary Freedom Loan’s interest rate?

Their estimated monthly interest rate is 4%.

What is the loan tenure for Welcome Bank Salary Freedom Loan?

The loan repayment options for this loan product is from 12 to 24 months.

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 Salary Freedom 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.

Is Welcome Bank Salary Freedom Loan the right one for me?

If you’re fully employed for 1 year and are looking for a loan product that will base your approval on your employment status with less fuss, the Welcome Bank Salary Loan should be one of the best loan options available for you in the market today. It offers a high loan amount or considerably the lowest interest rate and longest repayment option for a salary loan.

We can recommend these other options that are similar to what you are looking for:

Global Dominion Financing, Inc. Salary Loan

A newcomer in the lending industry, the GDFI Salary Loan lets you borrow up to ₱100,000 even if you do not have an existing credit card. It is also not required to issue post-dated checks. The interest rate is 2.5% per month and your application can be approved within 7 - 14 working days, payable starting from 6 to 12 months. You must have a minimum monthly salary of ₱25,000 to apply.

Chinatrust Salary Stretch Personal Loan

Known as one of the largest privately-owned banks in Taiwan, CTBC Bank Corp., has been in service for more than 3 decades in the country. With their Salary Stretch personal loan, you can borrow from ₱20,000 up to ₱1M and payable from 1 to 3 years max. They offer competitive interest rates starting from 16.67% per annum. You are eligible to apply if you have a minimum monthly income of only ₱15,000.

Security Bank Personal Loan

A well-known financial services provider in the country, SB Finance a subsidiary of Security Bank, offers a personal loan with competitive interest rate starting from 16.68% and allows you to borrow from ₱30,000 to ₱2M. With fast approval duration ranging from 3 - 5 business days, it also comes with flexible repayment period of 12 to 36 months. You can apply if you have at least ₱15,000 minimum monthly income.

A salary loan is a good alternative to solve your immediate funding needs. You can check our list of fast approval online loans and review their eligibility criteria to help you decide which option fits your need.