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Welcome Bank Salary Loan

Loan up to ₱500,000 payable in 3 years with no credit card required.

  • icon Interest Rate
    Interest rate (p.a.)
    36.00% - 36.00%
  • icon Min. monthly income
    Loan Tenure
    1 - 3 years
  • icon Min. monthly income
    Approval Duration
    2 to 3 business days
  • icon Min. monthly income
    Min. monthly income
    ₱ 20,000

Loan Calculator

icon New Base Rate Loan Calculator

Monthly salary 20000
Interest Rate
You Pay
Total Interest Payable
Total Amount Payable

Whats so great about Welcome Bank Salary Loan?

  • Salary loan for your immediate cash needs

Product Features

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

Fee & Charges

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

Other Requirements

Need to open linked bank account? No
Other details Loan repayments may be done through PDCs only.

Review by iMoney

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.

Welcome Bank Salary Loan FAQ

How much can I borrow?

You can loan PHP20,000 to PHP500,000 from Welcome Bank’s Salary Loan.

How can I apply for Welcome Bank 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.

What are Welcome Bank Salary Loan's requirements?

An applicant must fulfill Welcome Bank's eligibility criteria for a loan:

  • Filipino citizen, at least 21-65 years of age.
  • Employed for at least 2 years with minimum PHP20,000.00 monthly salary/income or 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 2 years.
  • With a verified landline or postpaid number.

Required documents for Welcome Bank Salary Loan application:

  • Fully accomplished 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 Loan's interest rate?

Their estimated monthly interest rate is 3%.

What is the loan tenure for Welcome Bank Salary 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

How does the Welcome Bank Salary 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 Salary Loan application status through Welcome Bank's online portal on the 'My Page' section of their homepage.

How will I know if my loan application is approved?

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

For loan repayments what is the mode of payment?

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 a 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, the loan balance of your existing loan will be deducted from your new loan disbursement.

Can I apply if I do not have a credit card?

Yes. You can apply for a Welcome Bank Salary Loan even if you don't have a credit card.

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

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.

Is Welcome Bank Salary Loan the right one for me?

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.

You can also take a look at other salary loan options that might match your requirements:
Chinatrust Salary Stretch Personal 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.

Global Dominion Financing, Inc. Salary Loan

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.

BPI Personal Loan

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.