Bank Financing - Frequently Asked Questions
Q: Who are qualified to get a Bank Loan?
A: Filipinos, Filipinos married to foreigners, Foreigners (if collateral is a condominium), or former Filipinos with or without Dual Citizenship, of legal age (not exceeding 65 yrs old upon loan maturity)
Individuals with minimum gross family income of P50, 000.00/monthly.
For sole proprietorships or family corporations, the business must be profitably operating for the last two (2) years.
Q: What are the requirements?
A: If you are locally employed:
Latest Income Tax return (ITR)
Certificate of Employment with Compensation OR latest full month payslip
Certificate of Employment with Compensation OR latest full month payslip
If employed abroad
For seamen: latest crew contract and employment history
For nurses, contract workers and immigrants: employment
contract or Certification of employment & salary (to be authenticated by the Phil.
Consulate upon loan approval)
Proof of monthly remittances OR payslips for the past three (3) months
For nurses, contract workers and immigrants: employment
contract or Certification of employment & salary (to be authenticated by the Phil.
Consulate upon loan approval)
Proof of monthly remittances OR payslips for the past three (3) months
If self-employed
Income Tax Return (ITR) for the last 2 years
Financial statements for the last 2 years (Audited and In-house, if applicable)
Certificate of Business Registration with DTI or SEC Business Registration & By-Laws,
whichever is applicable
Top three (3) major suppliers and customers with contact persons and numbers
Photocopy of the Statement of bank accounts for the last six (6) months OR
photocopy of passbook for the past six (6) months
For Rental Income: Copy of TCT/CCT and lease contract from rented/leased properties
whichever is applicable
Top three (3) major suppliers and customers with contact persons and numbers
Photocopy of the Statement of bank accounts for the last six (6) months OR
photocopy of passbook for the past six (6) months
For Rental Income: Copy of TCT/CCT and lease contract from rented/leased properties
