Guide on DBP Cash Loan Offer Monthly Due based on Loan Amount
DBP CASH LOAN — Are you wondering how much your monthly amortization will be if you will borrow Php 100,000 from the Development Bank of the Philippines?
DBP, one of the prominent government banks in the Philippines, operates branches in nearly all cities and municipalities across the country. Its services are tailored to meet the needs of government employees and individuals employed in the public sector.
As a government-run banking institution, the Development Bank of the Philippines (DBP) provides a range of loan options, including the DBP EC Credit Loan. It is also known as the Salary Loan or DBP Cash Loan.
This loan offer of DBP is specifically tailored for government employees to provide them with a convenient solution in obtaining cash. The repayment of the loan is through salary deductions. You may borrow from P10,000 to P1 million.
When applying for a DBP Cash Loan, government employee-borrowers have the choice of selecting loan terms among the 12, 24, 36, and 48-month options. The following table shows the monthly installment amounts for a loan amount of P100,000.00, based on the chosen loan term:
Loan Term | Monthly Amortization
12 months | P8,884.83
24 months | P4,707.37
36 months | P3,321.48
48 months | P2,783.03
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.
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