Guide on Security Bank Cash Loan – How Much You May Borrow
SECURITY BANK CASH LOAN – Provided below are the minimum and maximum loanable amounts in applying for this loan offer.
The Security Bank, one of the popular and trusted banks in the country, is one of those that offer a cash loan. Its loan offer is open for both employed and self-employed individuals and you can check the loan offer below.
Under the Security Bank Cash Loan offer, the minimum amount offered by the bank for borrowing is P30,000.00. The highest amount that you can borrow is P2 million.
Are you qualified? With regards to the eligibility requirements set by Security Bank, the lists differ among the employed and self-employed loan applicants.
In order to be eligible for the loan offer, employed individuals must satisfy the following criteria:
- a Filipino citizen
- at least 21 years old at the time of the loan application
- not more than 65 years old upon the loan maturity
- having an office or residence landline
- earning a minimum gross monthly income of P15,000 if working within Metro Manila and at least P12,000 if working outside Metro Manila
With regards to the loan application of self-employed individuals, to be eligible for the loan offer, the borrower must satisfy the following criteria:
- a Filipino citizen
- at least 21 years old at the time of the loan application
- not more than 65 years old upon the loan maturity
- having an office or residence landline
- earning a gross monthly income of at least P100,000
- owning a business and at least 40% stake in the business
- operating a business that is in profitable operation for at least two (2) years already with at least one (1) trade reference
Prepare the documents required by Security Bank. There are specific documents that you need to prepare in applying for the loan offer. Like the eligibility requirements, the documentary requirements differ among employed and self-employed loan applicants.
| For Employed Applicants: | For Self-Employed Applicants: |
| duly-accomplished and signed Security Bank Personal Loan Application Form | duly-accomplished and signed Security Bank Personal Loan Application Form |
| one (1) valid government-issued photo ID | one (1) valid government-issued photo ID |
| Income Documents (any of the following): – Certificate of Employment and Compensation issued within the last six (6) months – latest Income Tax Return (ITR) – latest one (1) month payslip | latest 1-year Audited Financial Statement (AFS) with at least the previous year’s comparative financials |
| Business Permit / Mayor’s Permit | |
| SEC (Securities Exchange Commission) Registration / DTI (Department of Trade and Industry) Certificate | |
| latest three (3) months bank statements | |
| List of 3 trade references (at least 1 supplier and 1 customer) with contact details | |
| latest General Information Sheet (GIS) – if corporation |
RCBC, also known as the Rizal Commercial Banking Corporation, is another bank apart from Security Bank that offers personal loans. Feel free to visit – RCBC Personal Cash Loan: How To Apply & the Requirements in Applying.