SB Finance Personal Loan Review
Debt payment, tuition fees, and emergencies. The expenses list goes on and on, not to mention that most of these are unexpected events that throw our budget off track. Get additional cash ranging from ₱200,001 to ₱2 million with SB Finance Personal Loan. Find out more in this review.
Where Can I Use an SB Finance Personal Loan?
SB Finance Personal Loan is a multipurpose and low-interest loan that you can use for upcoming milestones in your life or in case of emergencies. You don’t need a high salary or an SB Finance account to avail of the loan. Below are some of the common loan purposes.
Take note that this excludes car purchases or repairs and house/lot purchases or repairs already financed by SB Finance through a different loan.
- School/Tuition fees - Planning to further your education or need more cash for your children’s tuition? SB Finance Personal Loan can help you with your school expenses.
- Emergency expenses - There are good and bad surprises and no one wants the latter, especially if it involves loss of money from hospital expenses, job loss, and other emergency costs. To lessen the stress, secure a personal loan with SB Finance.
- Travel expenses - Airfare tickets, especially with international travel, are pricey. You can account for it if planned in advance but for unexpected travels, the expenses can be daunting. Avail of a personal loan with affordable payment terms.
- Debt payment - Losing sleep over the debts you’ve incurred is usually not limited to one night. End your worries by getting an SB Finance Personal Loan and avail of their flexible payment plans.
Who Can Get an SB Finance Personal Loan?
Before applying for a loan, you need to meet the following SB Finance Personal Loan eligibility criteria:
- 21 to 65 years old upon loan maturity
- Filipino citizen
- With an office or residence landline
- Employed: Minimum gross monthly income of ₱15,000 if working in Metro Manila or ₱12,000 if outside Metro Manila
- Self-employed or self-employed professionals:
- Should own or have at least 40% stake of their company, with the business operating profitably for at least 2 years and with at least one trade reference.
- Minimum gross monthly income of ₱60,000
Security Personal Loan Requirements for Filipinos
Aside from the general requirements mentioned below, SB Finance might ask for additional documents as needed.
- Valid government-issued ID with photo
- Income documents
- Certificate of Employment and Compensation issued in the last 6 months
- Most recent ITR
- Payslip issued in the last month
- Most recent 1 year Audited Financial Statement (AFS) with the previous year’s comparative financials
- SEC/DTI Certificate
- Business or Mayor’s Permit
- Most recent 3 months of bank statements
- List of three trade references (comprising of at least one supplier and customer each) with contact details
- If a corporation, the latest GIS
Loan Rates and Sample Computation
To get a sample computation of your SB Finance Personal Loan, visit SB Finance’s Personal Loan website and use its Personal Loan Calculator. You can enter the loan amount and terms of payment you want and you’ll instantly get monthly payment estimates based on the loan term. Here are some sample computations for the most common loan amounts:
SB Finance Personal Loan Rates
- Loan amount: ₱200,001 to ₱2 million
- Loan terms: 12, 18, 24, and 36 months
- Monthly interest rate: 1.89%
- Annual percentage rate: 37.53% (estimate at 36 months)
- Processing fee: ₱2,000