How to apply for Security bank Philippines salary loan and requirements

Last Updated on October 12, 2023 by admin

Do you have a secure job and work with a reputable organization in the Philippines, Or searching for a salary loan to offset emergency bills? If yes, Then you can approach Security bank to apply for various loan packages ranging from Corporate Employee Loan and Corporate Salary Loan with convenient payment terms.

The Corporate Employee Loans (CEL) gives employees of accredited companies access to loans which can be used for any non-business purpose including health expenses, tuition, family vacations, balance transfers, or even the purchase of a car or house.

You can also read my recent post on Union Bank Philippines Salary Loans, Auto and House loan: How to apply and Requirements

Accredited companies and employees can choose from any of the loan package ranging from Salary Loan, Housing Loan,Car Loan ,Salary Advance and Doctor’s Loan. We have dive details on various credit facility packages.

Table of Contents

Corporate Salary Loan

Salary Loan Package is given to staff of accredited organization access. The approval time ranges from 3 – 4 banking days. The monthly amortization is deducted through salary loan.

The Minimum Loan Amount goes up to PHP 10,000 while the Maximum Loan Amount is from PHP 1,000,000… Tenor goes up to 36 months with 0.99% interest rate.

How to Get your Company Accredited

To be accredited as a company, the following procedure is required.

1. Get in touch with the Security Bank team
2.Submit the required documents for accreditation
3.Processing and screening of application (3-4 weeks)
4.Signing of the MOA and submission of post approval documentary requirements
5.Upon approval, begin endorsing employees for loans

Also Read: Banks and Online lenders in Philippines that offers Business Loans

Required Document for individual

1. Completely filled-out and signed Application Form (Borrower and Authorized Signatory of the Accredited Corporate Employer should sign-off on the AF)
2. Duly signed 4 copies of Promissory Note (to sign only at the back portion Borrowers: 3. Signature above printed name); and
4. 4 copies of Disclosure Statement (to sign only on Signature of Borrower over Printed Name)

Standard Requirements

1. Photocopy of company ID (front and back) with 3 specimen signature
2. Photocopy of 1 Government issued ID
3. Photocopy of latest BIR Form 2316 indicating the correct TIN# of the employee and with 4. complete signature on item #s 56-59 or Most recent 1-month payslip or COE
5. Photocopy of 1 month latest payslip OR filled-up COE portion in the application form
Other documents that may be further required by Credit.

Read: Banks and online lenders that offer Salary loan in Philippines

Eligibility & Requirements

For employees of accredited companies:

1. Filipino / Foreigners/Expats provided term of loan will be co-terminus with contract and/or period of visa’s validity.
2. At least 21 years old and must not be more than 65 years old upon loan maturity.
3. Regular and permanent with current employer accredited by the Bank; with at least 6 months

tenure and with total employment tenure of at least 1 year with a maximum of 2 employers.
4. Must have an office landline and mobile number
5. Minimum Gross Monthly Income, excluding overtime and bonuses:
. P9,000 for Metro Manila
. P8,000 for non-Metro Manila

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Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

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