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Chinatrust Personal Loan
Chinatrust Bank or CTBC originated in Taiwan's CTBC Financial Holding Co., Ltd. The Philippine office was established in 1995 and now it is offering services like deposits, investments, cash management and even the Chinatrust personal loan.
The bank offers its personal loan dubbed Chinatrust salary stretch loan. It is available for salaried individuals or self-employed individuals on a short-term or long-term basis. Clients may avail of this offer and repay through post-dated checks or PDCs.
The Chinatrust personal loan is for persons currently seeking for either a short-term loan of 12-months or a mid-term loan of 18 to 36 months. You may use the loan for any personal needs such as for gifts, education, home improvement, medical expenses, auto repair or a family vacation.
Chinatrust offers various ways for you to pay the monthly amortizations. You may pay through any Unionbank branches, BancNet ATMs, and for CTBC Bank All-Day Access card holders, you may pay through Chinatrust online banking by going to BancNet Online. Although without a Chinatrust loan calculator, users are still provided with an amortization table for reference.
Am I eligible to get a Chinatrust personal loan?
The age limit for applying for a Chinatrust personal loan is between 23 up to 60 years old upon reaching the maturity date of the loan. For self-employed individuals, the starting age moves up to 25 years old. For the people ages 61 to 65, it will be at the manager’s discretion whether to approve your loan or not. You must also have a credit life insurance and submit a copy of this for approval.
A minimum of ₱10,000 monthly income for applicants outside Metro Manila is required for a Chinatrust loan, and ₱15,000 monthly income is needed for people working in Metro Manila.
For employed individuals, you must be a regular employee of your current company for at least a year. Chinatrust also requires your office to have its own landline.
If you are self-employed, your business must be registered and must have been operating for at least 3 years if it’s part of the trading and services industry or at least 5 years for other industries. You must also have an office and home landline, if ever needed, Chinatrust will also ask for your mobile number. Lastly, for the self-employed category, they must be a credit card holder to apply for a Chinatrust personal loan.
Currently, the service is not available for foreigners and is only for Filipino citizens.
What are the required documents to apply for a loan with CTBC?
To apply for a Chinatrust personal loan, you must fill out an application form, a photocopy of latest ITR/BIR Form 2316, photocopy of ID issued by the employer and a photocopy of 1-month payslip.
For self-employed individuals, you must pass a completely filled out application form, the photocopy of the latest BIR Form 1701/1702, photocopy of unexpired Certificate of Registration from DTI, photocopy of latest 2 months credit card statements, photocopy of latest 6 months bank statements, photocopy of credit card (front), and a photocopy of 2 government-issued IDs.
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