Guide on Security Bank Loans 2024 & their Features
SECURITY BANK LOANS 2024 – You can check here a full list of the finance products offered by Security Bank which you may apply for.
Are you looking for a reputable bank that has multiple loan offers that attend to different needs? In the Philippines, one of the trusted entities that you may turn to is the Security Bank. It has several offers for locally-employed individuals, self-employed individuals, and even overseas Filipino workers (OFWs).
The bank has several branches across the nation thus the Security Bank loans are really accessible to a lot of individuals. Its offers actually include both personal and business finance products and services such as bank accounts, credit cards, and investment products. Below, you can see the bank’s loan offers.
Security Bank Home Loan
One of the Security Bank loans is the Security Bank Home Loan that can finance a residential property acquisition, house construction, home renovation, and home loan refinancing. It is open for individuals who meet the following eligibility requirements:
- at least 21 years old at the time of the loan application
- not more than 65 years old upon loan maturity
- earning a combined monthly income of PhP 50,000
- has been continuously employed for at least 2 years or operating a legitimate and profitable business for the last 3 years
Security Bank Auto Loan
The bank also offers the Security Bank Auto Loan that can finance the purchase of a brand new or pre-owned vehicle. It can finance up to 80% of the selling price of the vehicle. Here are the qualifications set by the bank under the loan offer:
- Filipino citizens residing in the Philippines
- Foreign citizens residing in the Philippines, provided, accompanied with a positive endorsement from the company he is affiliated with & a qualified Filipino citizen guarantor or co-maker in place
- Filipino citizens who are residing outside the borders of Philippines, provided with qualified Filipino citizen guarantor or co-maker in place
- at least 21 years old at the time of the loan application
- not more than 65 years old upon the maturity of the loan
- minimum joint monthly gross income with spouse of Php 40,000 for brand new cars and Php 20,000 for second hand or used cars
- with a stable source of income
- If employed, the applicant must be employed for at least 2 years or officer position on a permanent / regular basis
- If self-employed, the applicant must be running a business that is duly-registered to operate as a legal entity in the Philippines and in operation for at least three (3) years
Security Bank Salary Loan
Also one of the Security Bank loans is the Salary Loan or also called the Employee Salary Advance or eSALAD. It is open for the employees of the companies that are accredited to the bank. Here are the qualifications set by the bank under the offer:
- Filipino / Foreigners/Expats provided term of loan will be co-terminus with contract and/or period of visa’s validity
- at least 21 years old and must not be more than 60 years old upon loan maturity
- an employee of eSALAD accredited companies
- regular employee with at least 6 months employment tenure with current employer
- must be within the required salary income
- at least Php10,000 average Net Monthly Income (NMI) for BPO employees
- at least Php7,000 average Net Monthly Income (NMI) for non-BPO employees
Under the loan offer, the employee of an accredited-company may borrow at least Php 10,000 up to Php 2 million under the eSALAD.