• UCPB Personal Loan

    UCPB Personal Loan

    One of the largest banks in Philippines, the United Coconut Planters Bank also known as Cocobank needs no formal introduction. As evidenced by the name, it caters heavily to coconut farmers although the bank serves other clientele as well.

    You’re probably eligible for an UCPB Personal Loan if you are

    UCPB Personal Loan Minimum Age

    At least 23 years old

    UCPB Personal Loan Maximum Age

    Less than 65 years old

    UCPB Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    UCPB Personal Loan Minimum Income

    Earn more than the minimum
    income required

    Your UCPB Personal Loan amount eligibility is based on these factors

    UCPB Personal Loan Minimum Salary

    Minimum income required
    P30000 per month

    UCPB Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is P300000

    UCPB Personal Loan EMI

    EMIs of other loans lower
    your eligibility

    Increase your eligibility for Bank Personal Loan amount by these steps

    UCPB Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    UCPB Personal Loan Tenure

    Choose longer tenure loan up to 3 Years

    Documentation needed to apply for UCPB Personal Loan

    • 1.Copy of two Government Ids
    • 2.Fully filled-in application form
    • 3.Documentation for salaried applicants: (Anyone)
      • Copy of Company ID
      • Pay slip for the previous month
      • Latest Income Tax Returns - Form 2316
    • 3. Documentation for self Employed applicants:
      • Audited financial statements for the last two years
      • Income Tax Returns for the last two years
      • Business registration documents / Business Permits

    UCPB Personal Loan DetailsUpdated on 24 Oct 2016

    UCPB Personal Loan Details
    Tenure 1 - 3 years

    Overview of UCPB Personal Loan

    Being a universal bank, UCPB provides services of an investment bank, a commercial bank and a whole host of other banking products such as insurance and loans. Personal loans are a part of its loans portfolio for Filipino citizens. Customers can avail loan amounts as high as P300,000 at very attractive interest rates. The Y.E.S (Your Easy Salary) loan is a boon in disguise for all those looking to finance their requirements without the hassle of extensive documentation and complicated procedures.

    Personal loans have become one of the most sought after loans in recent times as it can be used to pay for a variety of needs such as travel, tuition, renovation and other miscellaneous purchases. The two main kinds of personal loans offered by banks are secured and unsecured personal loans. Secured loans require the borrower to put up a collateral and as such comes with a lower rate if interest whereas unsecured loans do not require a collateral or an asset as a guarantee. The absence of a collateral spells a higher risk for the lender therefore interest rates charged for unsecured loans are higher as compared to that of a secured loan.

    Why opt for UCPB Personal Loan

    UCPB is one of the foremost banks of Philippines and offers personal loans for an individual’s various requirements at a competitive interest rate of 18% per year. Loan amounts between P50,000 and P300,000 are offered. Customers looking for loans with a flexible tenure and a quick application process are in for a treat as UCPB Personal loans are easy to avail and easier to repay. All customers between the ages of 23 and 65 can procure personal loans from UCPB. Other requirements include a minimum monthly income of P30,000 or more and an account that is linked to the United Coconut Planters Bank. UCPB is every customer’s one-stop shop for quick and easy personal loans.

    Features of the UCPB Personal Loan

    • High finance quantum
    • A pet peeve among most borrowers is the lack of adequate financing by banks. However UCPB provides a finance amount of up to P300,000 with the P50,000 as the minimum financing amount. This amount ensures that customers have adequate amount that they can utilize for large purchases.

    • Flexible tenure
    • Customers who are looking to borrow money are concerned primarily about the loan repayment tenure. The common perception is that longer tenure would imply a lesser amount that is to be paid every month. UCPB offers a very flexible personal loan repayment tenure and customers can choose tenures of either 12 months, 18 months, 24 months or 36 months to repay their loans.

    • Friendly interest rates
    • Customers can enjoy competitive and friendly interest rates of 18% per year.

    • Easy repayment options
    • Customers can repay their Y.E.S loan without hassles, thanks to the quick and simple options available. UCPB offers post-dated cheques as the method for customers to repay their loans. In addition to this, customers also receive a free UCPB eMoney card as an option to pay-out.

    Interest Rate for UCPB Personal Loan

    Interest rates are one of the factors that most customers look at while procuring personal loans from a particular bank. Lower rates of interest and flexible tenures are the deal breakers. Keeping this in mind, UCPB offers personal loans at a competitive fixed interest rate of 18% per annum along with a monthly add-on option of 1.50%. Customers can also further inquire with the bank regarding other existing offers and rates that is more suitable to their needs.

    Types of Personal Loans offered by UCPB

    Currently, UCPB offers secured personal loans to its customers. This involves the requirement of a collateral. Loans are primarily approved on the basis on the applicant’s age and income.

    Eligibility Criteria for UCPB Personal Loans

    • Applicant must be a citizen and permanent resident of Philippines between 23 and 65 years of age. However, self-employed applicants can avail the loan until the age of 70 upon maturity.
    • Applicant must also posses a major credit card and a checking account
    • Individual must be salaried for at least 2 years and should earn more than the minimum requirement of P30,000.00
    • Self-employed individuals should be in an organization that has been in the works for 3 years and profitable for 2 years at least.

    Documents required for UCPB Personal loans

    Salaried Applicants

    •UCPB Yes-Loan application forms that are available at UCPB branches

    •Photocopies of two IDs that are issued by the government

    •Copies of 2 most recent credit card billing statements

    •Copy of the most recent Utility bill of the applicant’s residence

    •Photocopy of the company ID

    •One month’s payslip(latest)

    •Most recent ITR form 2316

    Self-employed individuals

    •UCPB Yes-Loan application forms that are fully accomplished and available in the UCPB branches

    •Photocopies of two IDs that are issued by the government

    •Copies of 2 most recent credit card billing statements

    •Copy of the most recent Utility bill of the applicant’s residence

    •ITR and 2 years’ latest audited financial statements

    •Permits of registration documents of the business

    •Copy of previous 6 months’ checking account statement

    How to calculate loan repayment for UCPB Personal Loan?

    Personal loans can be availed for various reasons and is one of the more popular loans that are chosen by individuals. It is also essential to understand the calculations and financial implications involved while procuring a loan. One of the most common queries that people have is regarding the EMI amount and amortization schedule.

    There are Personal Loan Calculators available by which such information can be obtained quite easily. The required details will have to be provided such as the loan amount, tenure and interest rate and the calculator automatically displays the results. In the case of UCPB, an indicative amortization schedule is already provided as illustrated below.

    Loan Amount (P) Amortization(P)
    12 months 18 months 24 months 36 months
    50,000.00 4,917.00 3,528.00 2,834.00 2,139.00
    60,000.00 5,900.00 4,234.00 3,400.00 3,567.00
    70,000.00 6,884.00 4,939.00 3,967.00 2,995.00
    80,000.00 7,867.00 5,645.00 4,534.00 3,423.00
    90,000.00 8,850.00 6,350.00 5,100.00 3,850.00
    100,000.00 9,834.00 7,056.00 5,667.00 4,278.00
    150,000.00 14,750.00 10,584.00 8,500.00 6,417.00
    200,000.00 19,667.00 14,112.00 11,334.00 8,556.00
    250,000.00 24,584.00 17,639.00 14,167.00 10,695.00
    300,000.00 29,500.00 21,167.00 17,000.00 12,834.00

    Fees and Charges

    One - time setup  
    Stamp duty In case loan amount is higher than P250,000, P1 is charged for every P200
    Miscellaneous fee and disbursement Not applicable
    Penalty charged  
    Early Settlement 5% per year on any outstanding balance
    Fee for account maintenance Not applicable
    Late payment fee 5% per annum on outstanding balance or P300, whichever is the higher amount

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