Only employees of accredited companies may apply for a salary loan. Inquire with your HR or company representative to know if your company is accredited. If yes, the borrower-eligibility requirements below apply to you:
Here are the following requirements to apply for SalaryPlus Loan:
Approval takes 2-3 banking days.
Loan proceeds will be credited to your China Bank payroll account or any nominated bank account upon approval of your loan application.
If you're interested to apply for a SalaryPlus Loan again, you may reapply after 6 months.
You have the option to pay the loan for: 6, 12, 18, 24 and 36 months.
Applicants may borrow from P15,000 to P1,000,000, subject to bank's review and approval.
Please contact the Multi-Purpose Loans Division at 888-55-555 locals: 6172-6175 or email firstname.lastname@example.org for the updated interest rate.
Here are the following applicable fees for a SalaryPlus Loan appication:
Your monthly repayment will be dependent on the approved amount and tenor of your loan. Interest shall be computed based on the outstanding balance of the loan at the beginning of an interest period. An amortization schedule and disclosure statement will be provided upon loan approval. To have an estimate of possible monthly amortization, you may refer to the sample loan amortization table available thru your HR or your Relationship Officer.
Your monthly amortization is fixed and allows you to plan and manage your monthly cash flows. We refer to this payment scheme as Straight-Line Method.
SalaryPlus Loan is paid through salary deduction.