Guide on the Security Bank Loan Fees Applicants of Personal Loan Must Be Prepared of
SECURITY BANK LOAN FEES – Here is a list of the charges implemented under the personal loan offer of Security Bank.
Security Bank is one of the banks in the Philippines that offer personal loans to the public. It is a cash assistance that is provided for the different borrower purposes including the following:
- to pay for the school fees
- to cover up travel expenses
- to cope up with emergency expenses
- for car repair
- for home improvement
Based on the official website of the bank, to be eligible for the Security Bank Personal Loan, the applicant must be:
- at least 21 years old but not more than 65 years old upon the loan maturity
- a Filipino citizen
- having an office or residence landline
- earning a monthly gross income of at least Php 15,000.00 for employees in Metro Manila and Php 12,000.00 for those working outside the Metro
- running a business with a profitable operation for at least two(2) continuous years and earning at least Php 30,000.00 monthly for Metro Manila businesses and Php 25,000.00 for businesses outside Metro Manila
According to the bank, under the Personal Loan offer, the borrower can pay for the loan for up to thirty-six(36) months or three(3) years. The approval time may take not more than five(5) working days.
In applying for the said offer, there are Security Bank loan fees that applicants should be prepared of. Here is a list of the charges implemented under it:
- Processing Fee – Php 2,000,000.00
- Documentary Stamps – Php 1.00 for every Php 200.00 for loan amounts above Php 250,000.00
- Notarial Fee for loan amounts above Php 100,000.00
- Php 100,000.01 to Php 500,000.00 – P125.00
- Php 500,000.01 to Php 1,000,000.00 – P150.00
- Late Payment Fee – Php 500.00 or 3% of the amount, whichever is higher
- Pre-termination Processing Fee – 5% of the remaining principal balance and any unpaid interest
To check on how much you can borrow under this loan offer, you may visit – SECURITY BANK PERSONAL LOAN: Minimum & Maximum Loanable Amounts.
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READ ALSO: SECURITY BANK LOANS – Full List of Loan Offers by Security Bank