Guide on DBP Cash Loan Offer Monthly Due based on Loan Amount
DBP CASH LOAN – You can check the guide below on your monthly amortization if you will borrow P15,000 from Development Bank of the Philippines.
When it comes to banks that have offers that are exclusive for the government employees, one of the entities that you may turn to is the Development Bank of the Philippines. More popularly called DBP, it offers savings accounts, loans, and other financial offers for government employees.
The state-run banking institution offers a loan known as the DBP EC Credit Loan, which is also called the Salary Loan or the DBP Cash Loan.
Government employees who are in need of cash may turn to this loan offer of DBP. It has allowed borrowing amounts of between P10,000 to P1 million. With regards to the repayment, it can be done through salary deductions.
The minimum borrowing amount for this offer is P15,000, and borrowers have the flexibility to select loan terms spanning 12, 24, 36, or 48 months. The monthly amortization amounts, based on the chosen loan term, are outlined below:
- 12 months – Php 1,332.73
- 24 months – Php 706.11
- 36 months – Php 498.22
- 48 months – Php 471.46
How to Apply for DBP EC Credit Loan:
Step 1 – Start the loan discussion by communicating with a DBP account officer. Take the necessary steps to contact a DBP Account Officer, who will assess and evaluate your needs on behalf of DBP.
Step 2 – After you have completed your application form, make sure you included all the required documents.
Step 3 – After submitting the documents, the bank will proceed with the crucial evaluation and processing of your application. You will be notified of the approval status by DBP through both a formal letter and a phone call.
Step 4 – After your loan application got the approval of the bank, you should proceed to start the account opening process at DBP. All of your transactions will be exclusively done through your DBP account.
READ ALSO – LIST: DBP Loan Requirements for Application for Development Financing Loan
