Guide on DBP Cash Loan Offer Monthly Due based on Loan Amount
DBP CASH LOAN — Stated below is a guide on the monthly dues based on loan terms if you will borrow P50,000 from the Development Bank of the Philippines.
One of the top government banks in the Philippines is the DBP which has a branch in almost all cities and municipalities in the country. Its offers are intended for the employees of the government and the public sector.
The Development Bank of the Philippines provides various loan options. The offers include the DBP EC Credit Loan. It is also addressed as the Salary Loan or DBP Cash Loan.
This DBP Cash Loan is solely for employees of the government and the public sector. It provides hassle-free repayment through salary deductions. The borrowing amounts allowed under the offer range from P10,000 to P1 million.
When selecting the DBP Cash Loan, borrowers can choose from loan terms of 12, 24, 36, and 48 months. The following table displays the monthly installments for a loan amount of P50,000.00 based on the chosen loan term:
Loan Term | Monthly Amortization
12 months | Php 4,442.42
24 months | Php 2,353.68
36 months |Php 1,660.74
48 months | Php 1,391.52
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
