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Loan up to ₱500,000 payable in 3 years with no credit card required.
Loan Calculator
Salary loan for your immediate cash needs
| Min. Financing Amount | ₱20,000 |
| Max. Financing Amount | ₱500,000 |
| Min. Loan Tenure | 1 year |
| Max. Loan Tenure | 3 years |
| Interest Rate | 36% 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 a permanent or regular employee; if probationary, must have been 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.
Their Salary 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 2 years, you should be eligible for Welcome Bank’s Salary Loan.
You can loan PHP20,000 to PHP500,000 from Welcome Bank’s Salary Loan.
You can apply for a Welcome Bank salary loan by applying directly through our online application form. Once we receive your application, our Customer Care Agent will contact and guide you through the application process.
An applicant must fulfill Welcome Bank's eligibility criteria for a loan:
Required documents for Welcome Bank Salary Loan application:
*Additional documents may be required during credit evaluation.
Their estimated monthly interest rate is 3%.
The loan repayment options for this loan product is from 12 to 24 months.
The following fees will be deducted from your loan amount:
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 Salary Loan application status through Welcome Bank's online portal on the 'My Page' section of 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 a 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, the loan balance of your existing loan will be deducted from your new loan disbursement.
Yes. You can apply for a Welcome Bank Salary Loan even if you don't have a credit card.
It is your discretion whether to apply for a Personal/Salary Loan or Business Loan depending on your financial need and as long as you pass through the qualifications.
If you’re fully employed for 2 years 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.
Chinatrust or CTBC Bank (Philippines) Corp. is one of the largest banks in Taiwan, operating for more than 3 decades in the country. Their Salary Stretch personal loan offers competitive interest rates starting from 16.67% per annum with fast loan approval within 3 - 5 banking days. You can apply if you have a minimum monthly income of only ₱15,000 and borrow amounts ranging from ₱20,000 to ₱1M. The loan tenure starts from 12 to 36 months.
A non-bank financial provider, GDFI offers a Salary Loan where you can borrow from ₱20,000 up to ₱100,000 without the need to issue post-dated checks or have an existing credit card. The interest rate 2.5% per month, with loan tenure of 6 to 12 months. Approval duration ranges from 7 to 14 working days with a required ₱25,000 minimum monthly salary to qualify.
You are in good hands with one of the top banks in the country. With a BPI personal loan, you can borrow ₱20,000 up to ₱1M with competitive interest rates starting from 14.4% per annum and fixed add-on interest of 1.2% per month. You can get approved within 8 - 13 banking days and you must have a minimum monthly income of ₱25,000. Loan repayment is flexible up to 3 years.
If you haven't found the right product, you can take a look at our list ofonline loan providers so you can review what they are offering and decide if it fits your funding requirements.