Guide on DBP Cash Loan Offer Monthly Due based on Loan Amount
DBP CASH LOAN – Here are the monthly amortizations if you will borrow P150,000 from the Development Bank of the Philippines.
DBP offers services that were specifically tailored to meet the unique requirements of government employees and individuals employed in the public sector. It is a well-known government bank in the country operating across cities and municipalities.
The popular state-run financial institution provides a wide range of loan offers including the DBP EC Credit Loan. It is also called the Salary Loan or DBP Cash Loan. This was crafted for the needs of government employees.
Under the offer, the minimum loanable amount is P10,000. The maximum amount that you may borrow is P1 million. The repayment is through salary deduction.
When applying for the DBP Cash Loan, borrowers have the freedom to choose from loan terms of 12, 24, 36, or 48 months. The table below illustrates the monthly installment amounts for a P50,000.00 loan, depending on the selected loan term:
Loan Term | Monthly Amortization
12 months | Php 13,327.25
24 months | Php 7,061.05
36 months | Php 4,982.22
48 months | Php 4,174.55
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
