Whether it's an emergency or a casual need, one of the best solutions to your credit needs is a personal loan. Personal loans equip you with quick money to meet the requirement. A personal loan is an unsecured credit offered by banks and financial institutions at fixed interest rates which helps you meet critical financial obligations.
You’re probably eligible for an Robinsons Bank Personal Loan if you are
Salaried or self-employed
with regular income
Earn more than the minimum
Your Robinsons Bank Personal Loan amount eligibility is based on these factors
Maximum allowed personal loan is P250000
EMIs of other loans lower
Increase your eligibility for Bank Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 3 years
Documentation needed to apply for Robinsons Bank Personal Loan
- 1.Application form, duly filled and signed
- 2.Two valid ID proofs
- 3.Proof of income
- 4.Income tax return or Form 2316
Robinsons Bank Personal Loan DetailsUpdated on 25 Oct 2016
Robinsons Bank Personal Loan – An Overview
A multipurpose personal loan offered by Robinsons Bank provides easy access to credit at attractive interest rates and flexible payment terms. EMI payments can be made with Post Dated Checks (PDCs) or by auto debit facility from savings account. If you have an urgent credit requirement, go for a personal loan with Robinsons Bank as the processing time of the application is less than 5 days. Generally, other banks take up to 7 days to process the loan.
Features of Robinsons Bank Personal Loan
- Flexible payment terms: Robinsons Bank offers extensive payment terms starting off at 6 months. The repayment term is in multiples of 3. The terms are 6, 9, 12, 18, 24 or 36 months. This kind of arrangement provides sufficient bandwidth to repay the loan and for the applicant to plan their finances better.
- Quantum of funding: The amount of loan that can be availed is a minimum of Php5,000 and can go up to Php250,000. This range gives enough leverage to choose a loan amount as per your requirement.
- Easy payment options: Loan EMI’s or monthly installment payments can be conveniently paid either via post dated cheques or by means of auto debit facility from an existing bank account with Robinsons Bank.
- Competitive interest rates: Robinson Bank follows a system of fixed interest rate that is as low as 1.40 % per month, making it one of the lowest in the personal loan market.
- Transparent & Minimal Paperwork: With just two id’s proofs, a landline number and income proof, you can get personal loan from the Robinsons Bank.
- Processing & Pre-termination fee: A fee of Php2,000 is charged towards processing of application paperwork. If the customer wishes to pay off the loan before the end of tenor, 3% of the outstanding amount is treated as pre-termination fee and charged to the customer.
In addition, a late payment fee of 5% of the outstanding balance is levied as late payment fee.
Benefits of a Robinsons Bank Personal Loan
- The moderate interest rates coupled with flexible repayment options are soft on your wallet and does not really hurt you in terms of balancing your monthly budget. As a reputed fast growing bank, Robinsons Bank provides credible after sales loan servicing via its vast network of branches and unparalleled customer support.
- If your loan requirement is under strict deadlines, Robinsons Bank is the best bet as the loan processing is completed in less than 5 days. You can also benefit from the wide range loan offering that can go up to Php250,000 that helps in case you have a large requirement.
- Do inquire with the bank for seasonal and limited period offers on personal loans. You may qualify for exclusive terms and interest rates. Savings account holders with Robinsons Bank may be eligible for better terms as well.
Robinsons Bank Personal Loan Eligibility
To be eligible for a Personal Loan from Robinsons Bank, the applicant has to meet the basic criteria as provided below in addition to specific conditions to be met on the basis of occupation and income of the applicant.
- The applicant should be at least 21 years old with an upper cap of 60 years upon loan maturity.
- Should be earning at least P20,000 per month through regular source of income such as salary or self employment.
When you make an application, the representatives will further advice on additional filtering your application has to pass through to ascertain eligibility.
Robinsons Bank Personal Loan Requirements
• Personal loan application form from Robinsons Bank, filled and signed.
• Contact details of the applicant that includes a landline number, either of residence or business.
• A copy of any two valid ID proofs such as Passport or Driver’s License etc.
• Income proof details
• A copy of Income Tax Returns for that financial year or Form 2316 signed by the employer’s representative.
In addition to the above, you’re required to provide documents on the basis of your source of income.
Interest Rates & Fees
Robinsons offers the most competitive rates on personal loans in Philippines. Interest rates for Robinsons bank personal loan starts at 1.40 percent per month. This rate is indicative and subject to change without prior notice. Make sure to check with the nearest branch or contact customer service for an updated list before applying.
Fees & Charges
|Processing Fee (To be deducted from the loan proceedings)||P2,000|
|Late Payment Fee||5 percent of the amortization amount|
FAQ's about Robinsons Bank Personal Loan
- What are the options available to make the monthly loan amortization payments? My loan application has been approved.
- I would like to know my loan application status. Who do I contact?
- How do I apply for a Personal Loan from Robinsons Bank?
- What are the other loan products offered by Robinsons bank under retail lending?
- I am salaried and work with a small firm drawing respectable salary. Am I eligible to apply for a Robinsons Bank Personal Loan?
Robinsons bank provides two distinct channels to make your monthly amortization payment to clear the borrowed amount. You can either provide PDCs(Post Dated Checks) or set up an ADA (Auto Debit Arrangement) where your monthly amortizations are automatically debited from your Robinsons bank account. The latter is highly recommended.
Please call the centralized customer service on +63 2 637-CARE (2273) for an update on your personal loan application with Robinsons Bank or visit the nearest branch for an update.
You can apply for a Personal Loan either on the official website of Robinsons in Philippines or by visiting the closest banking branch to submit the application physically.
Apart from Personal Loan, the bank also offers Home, Auto, Motorcycle and loan against gold or diamond jewellery.
To be eligible for a loan, your company must be an accredited one. Contact the customer service to check if your company falls under this category and apply accordingly.
Other Products from Robinsons Bank