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 P30,000 from the Development Bank of the Philippines.
The Development Bank of the Philippines is one of the government banks in the country just like Landbank. More popularly called DBP, it has several offers that are open for the government employees – savings accounts and loans among others.
Among the loan choices offered by the state-run banking institution is the DBP EC Credit Loan, which is alternatively referred to as the Salary Loan or DBP Cash Loan.
The DBP Cash Loan is for the employees of the government and the public sectors. It was designed to provide them with a turn-to in times of financial solutions. The repayment is through salary deductions.
The minimum loanable amount under the offer is P10,000. A borrower may loan up to P1 million.
For the DBP Cash Loan offer, borrowers have the flexibility to choose from loan terms of 12, 24, 36, and 48 months. The following table shows the monthly amortizations based on the loan term if borrowing P30,000.00:
Loan Term | Monthly Amortization
12 months | Php 2,665.45
24 months | Php 1,412.21
36 months | Php 996.44
48 months | Php 834.91
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