Guide on How Much You Must Pay For Monthly If You’ll Borrow 250K Under DBP Salary Loan
DBP SALARY LOAN – Here is a guide on how much you must pay for month if you will borrow Php 250,000.00 under the credit salary loan of the Development Bank of the Philippines.
Nowadays, due to the increasing prices of certain goods and commodities, a lot of Filipino families are falling short their monthly budget. The monthly salary may not be enough to cover all the expenses and get to the next payday.
That is the reason why many employees are into loans. They would apply for a loan offer from a bank or a lending company to fulfill the needs of the family. One of the banks that has the said offer is the Development Bank of the Philippines or more commonly called as DBP.
The DBP Salary Loan is open for those who are working in the government. It promotes fast loan application and you can get the money as fast as five (5) working days since the application was filed.
You may pay for the loan in 12, 24, 36, or 48 months. For your convenience, the payment can be done through a salary deduction so there’s no chance that you’ll miss it and suffer some penalties. For salary deductions, you employer must have an agreement with the bank.
With regards to the loanable amounts, the minimum amount that you may borrow is Php 10,000.00. The maximum loanable amount is Php 1,000,000.00.
How about if you will borrow Php 250,000.00, how much you will have to pay for monthly?
The monthly payment will depend not only on the amount you borrowed but as well as the loan term. For a 250K loan, here is a guide on how much you will have to pay for monthly under the DBP Salary Loan:
- 12-Month Term – Php 22,212.08
- 24-Month Term – Php 11,768.42
- 36-Month Term – Php 8,303.69
- 48-Month Term – Php 6,957.58
Do you want to apply for the said DBP offer? You may visit – DBP SALARY LOAN: How To Apply For Salary Loan To DBP.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
READ ALSO: DBP DEPOSIT ACCOUNTS: List of Required Initial Deposit & Balance To Earn Interest
