Security Bank lends from ₱30,000 to ₱2,000,000 over 12, 18, 24 or 36 months, for emergencies, education, travel or home repairs. Unlike many bank loans, it does not require an existing credit card to apply.
Why do we recommend the Security Bank Personal Loan?
The pricing is published in full. The monthly add-on rate ranges from 1.39% to 1.89%, with an estimated APR of 37.53% at 36 months, and the page shows its own example: ₱50,000 over 36 months costs ₱2,333.89 a month.
The income threshold is low for a bank: ₱15,000 gross a month for employees in Metro Manila and ₱12,000 elsewhere. Self-employed applicants must own at least 40% of a business profitable for two years, with a ₱100,000 monthly income.
The application is online, with scanned copies or photos of a recent payslip or certificate of employment, and approval comes within five working days.
Author’s opinion
We think it is a reasonable option for a young employee taking a bank loan for the first time. The APR is not low, but it is disclosed and comparable across banks. A shorter term costs much less overall.
The fees need attention. The processing fee appears as ₱2,000 or 3% of the loan depending on the version of the terms, and our catalog still shows an older 2% add-on rate and 39.43% APR. Ask which figures apply to your offer.
Other charges are small but real: a ₱100 notarial fee from ₱100,000, documentary stamps of ₱1.50 per ₱200 from ₱250,000 and a late fee of 3% of the unpaid amortization.
The bank warns that it never asks for a facilitation fee, so never pay anyone to release the loan.
I want to learn more about the Security Bank Personal Loan!
Who can apply, the documents Security Bank accepts and how the online application works are on the next page. Press the button.
