Guide on CIMB Bank Personal Cash Loan Fees You Must Be Aware of Before Applying
CIMB BANK PERSONAL CASH LOAN FEES – Here is a guide on the deductions from the proceeds of your CIMB Bank personal loan.
The CIMB Bank is one of the entities that you may turn to if you are in need of some cash for various purposes. You may apply for the loan offer online thus you do not need to leave your home or work for the loan application process. It is open for both employed and self-employed individuals.
Under this cash loan offer, you may borrow up to P1 million and you can repay it from 12 months up to 60 months. It is important to note that there might deductions from your loans apart from the interest it may incur because of some CIMB Bank Personal Cash Loan fees and charges.
On the load proceeds, the documentary stamp tax and the disbursement fee may be deducted. There is also a late payment fee if you missed to pay the monthly amortization on or before the due date. In case you wish to settle the loan early, there is also an early settlement fee.
CIMB Bank Personal Cash Loan Fees & Charges
- Documentary Stamp Tax – PHP 1.50 per PHP 200 loan
- Late Payment Fee – 5% of unpaid installment due or PHP 300, whichever is higher
- Early Settlement Fee – 3% of unbilled amount or minimum PHP 300, whichever is higher
- Disbursement Fee – PHP 0 if disbursed via CIMB account or 1% of Principal Amount or PHP 500 (whichever is higher) if disbursed via other banks
To be eligible to apply for the loan offer, the loan applicant must be:
- at least 21 years old but not more than 65 years old
- a Filipino citizen
- having a Philippine mailing address
- having an active local mobile number
- earning a gross income of at least Php 15,000.00 monthly
- working continuously for at least six(6) months (for employed applicants)
- operating a business that is operational for at least a year (for self-employed applicants)
You may apply for the loan offer online. For a guide on the loan application process, you may visit — CIMB Online Cash Loan – How to Apply & the Requirements in Applying.