Published: May 7, 2019 | Updated: August 17, 2020 | Posted by: Moneymax | Loans
The CTBC personal loan is one of the most sought-after personal loans today because of its fast processing (within 24 hours) and loan release within 72 hours upon approval.
Also called the Salary Stretch Loan, CTBC Bank (also known as Chinatrust Bank) offers this multi-purpose short-term or mid-term unsecured (meaning there’s no collateral required) personal loan to salaried and self-employed individuals in the Philippines.
Table of Contents
Before you file your application for personal loan with CTBC Bank, get to know what you can get out of it, so you’re sure it’s the right loan for you.
CTBC Bank allows you to borrow from PHP 20,000 to PHP 1 million, which is payable for 12, 18, 24, or 36 months.
The Chinatrust personal loan has among the lowest personal loan interest rates in the Philippines. Its effective interest rates start at 28.58%, depending on the chosen loan term. Monthly add-on rates range from 1.39% to 1.79% across all loan terms.
Unlike other commercial banks that disburse funds only through checks or funds transfer to a bank account, CTBC Bank releases the loan amount through a variety of channels, including a cash card, manager’s check, and funds transfer to the borrower’s CTBC Bank account or account with another bank.
Paying your monthly Chinatrust loan amortizations is made convenient with a variety of payment channels nationwide to choose from:
Here are some important tips that can help you succeed in your Chinatrust personal loan application.
The Chinatrust personal loan application is open to Filipino citizens only. As far as eligibility criteria go, there are certain differences between requirements for different professions. Qualifications are more rigid for self-employed applicants.
Borrowers between 60 and 65 years old who are working in a company with a verified retirement age of 60 must submit a copy of Credit Life Insurance.
The CTBC personal loan application form is available for download via CTBC Banks’ website. Aside from a filled out form, you also need to submit the photocopy of all the requirements, depending on whether you’re an employee or a self-employed person.
Get your other financial or income documents ready, as the CTBC Bank personnel may ask you to submit additional supporting documents.
Also, you’ll be asked to present the original copies of your requirements to the bank before the release of your approved loan.
CTBC Bank occasionally runs a promo for its personal loan applicants. You may enjoy certain perks if you apply for a CTBC Bank personal loan within the promo period and qualify for the promo.
For example, CTBC Bank has an ongoing Cash + Cash Load personal loan promo that entitles qualified borrowers cash load worth PHP 2,000 to PHP 10,000, depending on their approved and availed loan amount.
To qualify for this promo, your loan amount should be at least PHP 250,000 payable in either 24 or 36 months. The amount must be withdrawn or availed within three days from loan approval date. The CTBC personal loan must be applied on or before May 31, 2019 and approved on or before July 30, 2019.
If you need to inquire about your CTBC personal loan application, you may reach the bank’s 24/7 customer care hotline at (02) 840-1234 (Metro Manila) or 1-800-10-840-1234 (toll-free provincial hotline).
If you want to get a personal loan in the Philippines in the shortest amount of time to help with any pressing needs or to maybe make something important happen, then the CTBC Salary Stretch personal loan may be the right choice for you.
With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.