Cash Loan is an unsecured/clean loan facility granted by the Bank for individual borrowers provided that the borrower meets the required credit ration and loan policies of the Bank. New loans, renewal, restructuring or extension of unsecured loans shall be in consonance with the requirement of MORB Section X 304 of BSP, loans shall be under the signature of the borrower has financial capacity and good track record in paying his obligations, at least one co-maker as provided under BSP Circular 622 series of 2008. No accreditation of the employer/company is needed.
BORROWER’S ELIGIBILITY:
Citizenship: Filipino
Age: at least 21 but not more than 60 years old at loan maturity
Monthly Gross Income: Php20,000.00
NTHP/Credit Ratio: at least Php 10,000.00 after salary deduction
FEATURES:
Loan Amount
Minimum
P 10,000.00
Maximum
P 300,000.00
Acceptable Collateral
Clean
Interest Rate
Prevailing market rate at time of loan release
Processing Fee
P 1,500.00
Payment Term
06, 12, 18 and 24 months
Mode of Payment
Equal Monthly Amortization (Principal plus Interest)
Via post-dated checks (PDC) or ADA
Approving Authorities
Based on Board Approved Lending Matrix-Credit Manual Chapter IV
Customer’s Benefits:
1) Convenience – Loans are processed at the earliest possible time
2) Worry-Free – Since no collateral is required, clients can be provided with their basic necessities and indulge in luxuries without any hassle
3) Affordability – Interest rates are low and payment terms are comfortable and easy on the budget
4) Efficient and Personalized Service – efficient staff of UCPB Savings will promptly answer question and offer assistance with a personalized touch
A. Employed Individual (Click to read more.)
REQUIREMENTS:
Must be a Filipino citizen
Permanent resident of the country with at least 2 years stay
At least 21 years old but not more than 60 years old at loan maturity
Gainfully employed with the same company/government institution for at least 2 years
Holding permanent position
Favorable Employment Verification Report
Must have an office landline
OTHER CONDITIONS:
Compensation or source of payment must not come purely from variable income(commissions, consultation fees, incentives, overtime pay)
Owned house or living with immediate family for at least 2 years
No derogatory records from any courts or other banks
Favorable Personal and Neighborhood & Employment Verification
Existing depositor of the Bank/branch for at least a year & maintaining a monthly ADB of at least Php 30,000.00 for the past 6 months
Satisfactory handling of deposit account within the last 6 months (no history of DAIF/returned checks or falling below the required maintaining balance)
Known to or referred by a Bank Officer or valued clients of the branch
CMAP & NFIS negative
B. Employed Individual (USB & UCPB Group & Affiliates) (Click to read more.)
REQUIREMENTS:
Must be a Filipino citizen
Permanent resident of the country with at least 2 years stay
At least 21 years old but not more than 60 years old at loan maturity
Employed with the same company for at least 2 years
OTHER CONDITIONS:
No derogatory records from any courts or other banks
Endorsed by Bank Officer
CMAP/NFIS negative
C. Self-Employed Individual (Click to read more.)
REQUIREMENTS FOR OWNER
Must be a Filipino citizen
Permanent resident of the country
At least 21 years old but not more than 60 years old at loan maturity
REQUIREMENTS FOR BUSINESS
Business operating profitably for the past 3 years
Favorable Business Verification Report showing brisk business activity and substantial inventory
Satisfactory trade checking
Favorable Bank checking (NFIS,BAPCB etc.)
Submitted Bank Statements must support data on Financial statement
OTHER CONDITIONS:
No derogatory records from any courts or other banks
Favorable Personal and Neighborhood & Employment Verification
Existing depositor of the Bank/branch for at least a year & maintaining a monthly ADB of at least Php 50,000.00 for the past 6 months
If repeat or existing borrower of the Bank with excellent credit ratings (no past dues)
Satisfactory handling of deposit account within the last 6 months (no history of DAIF/returned checks or falling below the required maintaining balance)
Known to or referred by a Bank Officer or valued clients of the branch
CMAP negative
Business landline
For professionals not regularly employed and doing independent practice of professions (i.e. doctors, architects, engineers, lawyers) –income must be established and validated from bank statements, ledgers, receipts, or other documents showing proof of regular cash flows for at least 6 months.
D. Employed with ADA Arrangements (Click to read more.)
Requirements for Company Accreditation:
Company must apply for accreditation
Company must execute a Memorandum of Agreement covering cash loans to its personnel
MOA must include provisions covering the following:
Warranties and Responsibilities on deduction
Hold of employee’s final claim and its application to any outstanding cash loan in case of resignation/termination or separation from the company.
Notice to the Bank’s Collection group of resignations and separations as this event would make the employee’s loan due and demandable.
Company must have a minimum of 50 personnel.
Company must have profitable operation for the last 3 years
Audited Financial Statement for the last three 3 years duly stamped received by BIR.
OTHER CONDITIONS:
No records of court cases filed
CMAP, BAP & NFIS negative
Must have favorable Credit Investigation and or Validation done by CAID.
Note: All Credit Investigation reports shall be performed by the CAID and/or Bank accredited Outsourced Credit Investigators
DOCUMENTARY REQUIREMENTS
Employed (External Clients)
Certificate of Income and Employment or Contract of Employment
Latest ITR
Three (3) month’s Payslips.
Proof of residence billing
Proof of Deposits or Bank Certification on deposits
