Welcome Bank 

Welcome Bank in the Philippines is a subsidiary of the Welcome Financial Group. This company is a retail banking provider that started out mainly in the Korean market since it was established in that country in 2002. 

Since then it has operated in other countries in  Southeast Asia like the Philippines. It offers a wide range of financial solutions in the banking sector. It offers everything from lines of credit and loans to banking products such as savings accounts and digital banking services.

One of the most popular financial products among Filipinos is the personal loan. A product that is offered with a hassle-free guarantee and very low eligibility requirements, plus this offer can be accessed if you have a low income.

An offer of one million PHP is available and can be repaid in easy installments over a period of up to three years.

Welcome Bank Personal Loan offers a quick and easy financing option to Filipinos. This request can be made online and requires only the completion of a simple form. Within two to three business days you could benefit from the payment of the credit offer directly into your bank checking account if your application has been approved.

Frequently asked questions about personal loans from Welcome Bank

There are many users who have some questions about the services offered by this bank. Here are the questions consumers want to know about Welcome Bank:

How much money can I borrow?

Through this bank you can obtain up to one million PHP with a personal loan.

How do I apply for the Welcome Bank personal loan?

You can apply for a personal loan at Welcome Bank through an online application form. Once the application is submitted, a customer service agent from this bank will contact you to help you with the entire application process. If you have any questions, you can also ask them at that time.

What are the requirements of personal loans from Welcome Bank?

Welcome Bank stipulates that your loan application meets at least the following requirements and you must also provide some documents.

Regarding eligibility:

• You must be a Filipino citizen and have been in the country for at least one year.
• You must be between 21 and 65 years of age.
• You must have been employed for at least one year with the same company with a minimum monthly income of PHP 20,000.
• In addition, you must have been the holder of a credit card for at least one year with a minimum credit limit of 20,000 PHP.

Documents required by Welcome Bank:

Two valid government identification documents must be submitted with the official loan application.

• The payroll of the previous 2 months.
• The most recent tax document.
• Credit card statement for at least 2 to 3 months.
• Any utility bill showing the address where you live.

What is the interest rate with Welcome Bank personal loans?

It can be said that the monthly interest rate is estimated to be 1.60% per month.

There are other fees and charges applicable to Welcome Bank personal loans.

These are the fees that will be deducted from your loan amount:

• The processing commission which is 3% of the total amount of the loan if it is approved.
• A notary fee that usually costs about PHP 400
• The tax of the Documented Legal Acts what can cost 200 PHP
• If you have a loan with this bank and you do not pay it on time, you must take into account that you will be charged a late payment fee of about PHP 1,500 or 15% of the amortization or whichever is greater.

How does the Welcome Bank personal loan calculator work?

On the official website of this bank, you can find a personal loan calculator that gives you an approximate estimate of how much your monthly repayment will be. 

This is based on the amount of the loan you want to obtain. In addition, the payment term is also taken into account. You just need to fill in the amount of the loan you are requesting and your preferred tenure to be able to access the information you want.

How do I find out about the status of my application?

As this bank has a highly advanced digital platform available to you, you can access the status of your application at any time through its interface.

How do I know if my loan has been approved?

If your loan application has been approved, you will receive a phone call from one of the sales representatives who work with Welcome Bank. That way you can schedule the release of your personal loan funds.

How do I repay the loan?

This  can be done through your PC.

What happens if I want to pay my loan immediately and I do not want to finish the terms?

You can make an advance payment of your loan. There is no problem if you can't do it.

Can I apply for another loan?

As soon as you have finished paying the personal loan you have requested through Welcome Bank, you will be able to apply again.

Is the Welcome Bank personal loan right for me?

If you are looking for a larger loan amount with fewer complications, through Welcome Bank you can access the best loan offers in the country. The interest rates are quite low and the repayment terms are long. In addition, they offer the minimum requirements to their users so that you can access the financing you want.

Customer Service

If you want to contact the customer service of this entity, you can do so through its email, which is the following: cpguanzon@gdfi.ph, or at its telephone number, which is 09451 328 800.

The main headquarters of this company is located in Makati.