Guide on Sterling Bank Loans 2024 Offers & their Features
STERLING BANK LOANS 2024 – The Sterling Bank of Asia packed its loan offers with excellent features for financial solutions.
A lot of people prefer turning to banks when it comes to loans because of the fixed transaction details and contracts they offer. Are you interested to apply for a bank loan? In the Philippines, one of the banks with multiple loan offers is the Sterling Bank of Asia, a savings bank.
The Sterling Bank of Asia is operating in the country since 2007 when it was lodged for the creation of specialized financial institutions that promote the growth and development of the small and medium enterprise sector. It is one of the biggest thrift banks in the country with 48 branches across the nation.
The Sterling Bank of Asia has multiple bank account offers, loans, and a lot more. With regards to the Sterling Bank loans 2024, here is a list of the financial solutions offered by the bank and the qualifications under each:
Sterling Bank of Asia Personal Loan
The Sterling Bank of Asia Personal Loan offer of the Sterling Bank of Asia is the multi-purpose cash loan offer of the bank. It is ready to finance personal purchases, the payment of school fees, travel, events, etc. Here are the qualifications in applying for the loan offer:
- Filipino Citizen
- at least 21 years old at the time of the loan application
- not more than 60 years old upon the loan maturity
- with a home or office landline
- no adverse credit findings
- at least one (1) year residency, if renting
- Employment tenure of at least 2 years with present employer or business in operation for at least 3 years & profitable for the last 2 years
Sterling Bank Home Loan
The Sterling Bank Home Loan offer is ready to finance the purchase of a house and lot purchase, the acquisition of a townhouse or a condominium unit, a house construction, and a home renovation. Here are the qualifications in applying for the loan offer:
- Filipino Citizen
- 21 years old, but not more than 65 years old upon maturity of the loan
- If the borrower is more than 60 years old, a co-maker is required
- If employed:
- Employment status must be Permanent or Regular
- at least two (2) years with the present employer
- If self-employed:
- Business should be at least three (3) years in operation and profitable for the last two (2) years, and must be duly registered with the Securities and Exchange Commission (SEC) or the Department of Trade and Industry (DTI)
- Combined monthly gross family income of at least Php 40,000.00
- For married borrower/s, spousthe e will act as co-borrower and co-mortgagor
Sterling Bank of Asia Auto Loan
Are you excited to drive your own car? One of the Sterling Bank loans is the Sterling Bank of Asia Auto Loan that can finance the purchase of personal cars, trucks for business use, and Harley Davidson motorcycle. Here are the eligibility requirements in applying for the loan offer:
- not less than 18 and not more than 65 years old
- monthly amortization of the vehicle to be financed should not exceed 30% of the gross monthly income of the borrower
- at least 2 years of continuous employment with current employer
- If employed:
- employer must be at least operating for 3 yrs
- If self-employed:
- engaged in the business or profession for at least 3 yrs
- business or profession must be profitable at least in the immediately preceding year
- If corporate:
- at least operating profitably for at least 2 yrs
Sterling Bank Business Loans
The Sterling Bank of Asia offers several Sterling Bank Business Loans such as the Short Term Loans, Trade Check Discounting, Developmental Loan, Standby LC or Bank Guarantee, Term Loan, Domestic LC/ TR, and Import Letter of Credit (LC) & Trust Receipt (TR). Here are the factors considered by the bank in applying for the loan offer:
- major principal owner/s must be a residing Filipino Citizen
- major principal owner/s must be at least 21 years of age at the time of application and not more than 65 years of age upon maturity of the loan
- must be duly registered to operate as a business in the Philippines for at least 3 years;
- must have profitable operations in the past 3 years
- must have no adverse credit findings on the company and its principals