Bank Loan - Low Interest Collateral and Personal Loan from Banks and Private Lending Companies

Bank loan can be split into two types in most countries all over the world. This can either be a collateral (secured loan) or a non collateral (unsecured loan).

2 Types of Bank Loan

With collateral loan, the use of a fully owned property which may either be a car or real estate is allowed. It will be appraised based from prevailing market value or assessed value as set by government agency authorities.

Bank Vs Private Lending Companies - Pros and Cons for Borrowers on Both Collateral and Non Collateral Loan Application

There are basically 6 factors with which we can base this 3 year study as an accredited loan agent in the Philippines with respect to bank loan offers for both collateral and non collateral. I will be using these 5 criteria so we can standardize and simplify the comparison of a bank from a private lending company. Although banks are not usually a government financing institution, they all fall with the same category which separates them from private lenders and corporations that offer the same loans to borrowers. Below is the list.

1. interest rate
2. processing time
3. loanable amount / appraisal and valuation
   
4. requirements
5. pre-qualification
6. loan approval and disapproval policies
   

Banks that Offer Collateral and Non Collateral Loan in the Philippines

I will be listing only the top major banks in the Philippines who offers bank loan to qualified clients / borrowers. If you need any assistance to any particular bank in applying for fast loan which is not included in this list, please don't hesitate to ask me using any of my contact numbers below.

Be reminded that each bank have their own custom loan calculator and requirements so make sure to call their hotline telephone numbers to make a phone inquiry or visit nearest branch in person.

Banco de Oro Universal Bank (BDO) Metropolitan Bank and Trust Company (MetroBank) Bank of the Philippine Islands (BPI) Philippine National Bank (PNB) Rizal Commercial Banking Corporation (RCBC) UnionBank of the Philippines Allied Bank Corporation

Citibank East West Bank Philippine Savings Bank (PS Bank) Philtrust Bank (Philippine Trust Company) Security Bank United Coconut Planters Bank (UCPB) China Banking Corporation (ChinaBank)

Basic Requirements for Bank Loan - Collateral and Non Collateral

I can only name a few common requirements for both the secured and unsecured type of bank loan. I have listed them below just for information purposes. Please take note that they are subject to change without prior notice so keep updated by reading this page here at Fast Loan or by subscribing to our latest updates using RSS or email.

• 2 valid primary IDs or 1 primary ID and 2 secondary IDs
• Latest electric or water bill (must have same address as submitted valid IDs above
  
• co-maker or co-borrower for collateral and non collateral loan respectively
• any proof of income - (your choices) - if with work ---> 3 months latest payslip and COE (with ITR is an advantage but not required) / if with business ---> DTI or SEC and Mayor's Permit and 3 months latest bank statement / if with property for rent ---> contract of lease and 3 months latest bank statement / if with freelance job or remittance ---> any voucher, remittance receipts and 3 months latest bank statement
• must not have bad credit problem appearing in credit bureau records or BAP (banker's association of the Philippines). Here, credit investigation (C.I.) is necessary
  

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