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Borrow up to ₱150,000 with no credit card requirement.
Loan Calculator
Fast approval salary loan, no credit card required
| Min. Financing Amount | ₱20,000 |
| Max. Financing Amount | ₱150,000 |
| Min. Loan Tenure | 1 year |
| Max. Loan Tenure | 2 years |
| Interest Rate | 48% per annum |
| Approval Duration | 2 to 3 business days |
| Debt Consolidation | No |
| One time set up | |
|---|---|
| Processing Fee | 3.00% of approved loan amount |
| Stamp Duty | ₱400 (includes notarial fee) |
| Age requirement | Age 21 - 60 |
| Employment eligibility | Must 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 |
| 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.
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.
For the Welcome Bank Salary Freedom Loan, you can apply directly through our online application form. Our Customer Care Agent will get in touch with you shortly to assist with the application process.
You can loan PHP20,000 to PHP150,000 from Welcome Bank’s Salary Freedom Loan.
Processing of your loan will take 1-3 business days.
Welcome Bank requires their loan applicants to meet certain eligibility requirements and provide the following documents.
Eligibility requirements:
Required documents:
*Additional documents may be required during credit evaluation.
Their estimated monthly interest rate is 4%.
The loan repayment options for this loan product is from 12 to 24 months.
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.
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 through Welcome Bank's 'My Page' section on their homepage.
The Welcome Bank Salary Loan differs from the regular personal loan in a few factors:
Yes. You can repay all your outstanding loan anytime with Pre-termination fee.
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.
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.
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.
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.