Security Bank

Security Bank Philippines

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Security Bank

1. Age

Age from

2. Time to review

From application to receipt of money

3. Other conditions



Product Overview

Product Name:Security Bank Personal Loan
Remarks:Low interest rate and affordable payment terms
Minimum Amount of Loan:30,000
Maximum Amount of Loan:2,000,000
Minimum Loan Tenure:12 months
Maximum Loan Tenure:36 months
Early Repayment:2,500

Eligibility and Requirements

Age Range of Borrower:21-65 years old
Minimum Annual Income:PHP180,000.00
Income Requirement Remarks:You may apply with just a minimum gross monthly income of PHP15,000.00
Employment / Work Status:Permanent Employee for 0 year / 2 years Business Operations for Self-employed / 2 years of Practice for Professionals / Government Employee for 0 year
Borrower has to have Credit Card:No
Guarantor Required:No
Collateral Required:No
Other Requirements:Permanent Employee for 0 year / 2 years Business Operations for Self-employed / 2 years of Practice for Professionals / Government Employee for 0 year
Need to Open Linked Bank Account:No

Application and Approval

Approval Duration:5 to 7 banking days
Approval Duration Remarks:Approval time is up to 7 banking days

Fees and Charges/Penalties

Loan Processing and Dispersal Fees:PHP2,000.00 processing fee, plus stamp duty
Early Repayment Penalty:PHP2,500.00
Late Payment Penalty:3% of amount due or PHP500.00 whichever is higher

Interest Rates Offered

Product Name:Interest RateEffective Interest RateInterest Type
Security Bank Personal Loan - 12 months1.39%29.48% p.aMonthly Rate
Security Bank Personal Loan - 18 months1.49%31.56% p.aMonthly Rate
Security Bank Personal Loan - 24 months1.59%33.19% p.aMonthly Rate
Security Bank Personal Loan - 36 months1.69%34.01% p.aMonthly Rate


About Security Bank

Security Bank is one of the four largest banks in the Philippine Islands. Along with Metrobank, the National Bank of the Philippines and the Bank of the Philippine Islands, it provides steady growth of the economy and financial system of the country. The company’s mission is to provide high quality financial services. It is one of the banks with good traditions and a strong reputation of a reliable organization.

The history of Security Bank

The bank was founded on June 18, 1951 as a trust fund and credit organization. It was the first credit organization founded after the war. Today the bank is listed on the Philippine Stock Exchange. Throughout the development path, the organization has established itself as a reliable player of the financial market, which provides services both to individuals and corporations. Exchange transactions in securities and currency transactions, lending, deposits, accounts – a set of services has not changed over the years, but the quality has only improved. Today the organization provides traditional banking services, Internet banking, and lending to individuals and legal entities.

The bank was opened in Manila, its head office moved a year after opening. After World War II, it was the fastest growing bank in terms of the number of branches opened. In just 2 years, the branch network has covered the whole business center of Manila. By 1960, the bank began to spread its influence throughout the country. It became the first bank that attracted foreign investment to develop its system in 1960.

The 70s were marked by the modernization of credit products. Security Bank was the first in the country to launch a credit card in order to make borrowed funds accessible and convenient for residents. At the same time, the organization joins the Dinners Club of the Philippines and becomes the largest holder of trust funds in the country. Today, the bank continues to lead in the market of managing trust funds and multiplying the income of their owners. By the end of the seventies, the bank received permission from the government of the Philippines for operations with foreign currency. This expanded the investment opportunities and allowed to survive the systemic crisis in the country, which was the result of a change in the political situation.

The 90s were marked by a number of major changes for Security Bank. There was a reorganization into an open joint stock company, and a change of the managing President. The head office of the bank moved to Makati, and the shares were included in the listing of the Philippine Stock Exchange. Since the 1990s, their purchase and sale was open to the public.

The 60th anniversary in 2016 Security Bank celebrated by a partnership agreement with Japan’s largest bank, Tokyo Mitsubishi. Currently, there is no talk of a merger, the partnership is to attract foreign investment in the Philippine economy and interact with bank offices in Japan for more efficient customer service.

“You deserve better” is the current slogan of Security Bank. The company offers not only traditional banking products – deposits, credit cards, account management for legal entities and loans, but also asset management, trust funds, investment, leasing and sale of secondary market cars, as well as a wide range of debit and bonus cards. The main payment system with which the bank works is Mastercard.

Owners

This is a private company, an open joint-stock company, whose shares are available to everyone for purchase and investment through the Philippines Stock Exchange. The owner of such a company means the holder of a package of shares with management right. Under Philippine law, shareholders have the right to vote, and can make decisions up to asset allocation, approval of mergers and acquisitions, high-risk financial transactions, and the appointment of senior executives managing the company.

The largest shareholders of the bank are the Japanese credit organization Tokyo Mitsubishi Bank, and PCD Nominee Corporation. The latter has separate shareholdings for the Philippine and non-Philippine representative offices. Minority shareholders are Frederick Dee and Evelyn Dee, as well as AsiaSeek Equity, and Social Security Systems. The bank is not a subsidiary of Tokyo Mitsubishi, as it is mistakenly stated in some sources. He is an independent legal entity.

Branches and ATMs

The bank has branches in Japan, the countries of Central Asia, as well as in the USA, Canada, Australia. The bank has a well-developed network of branches in the Philippine Islands. You can find a suitable branch using the office search service on the website. ATMs are installed not only in the offices, but also in large business and shopping centers. The working hours of the branches coincide with the banking time of the Philippine Islands. It is 9-16 hours from Monday to Friday. Weekends – Saturday, Sunday, and public holidays. You can clarify it on the bank’s website.

Useful links

References

  1. https://en.wikipedia.org/wiki/Security_Bank
  2. http://manilastandard.net/business/196799/mufg-buys-into-security-bank.html
  3. https://www.sunstar.com.ph/article/1781978
  4. https://cfi.co/awards/asia-pacific/2017/security-bank-corporation-best-digital-bank-philippines-2017/
  5. https://www.thebanker.com/Awards/Bank-of-The-Year-Awards/Bank-of-the-Year-Awards-2016-Asia-Pacific


Contacts

  • Address: 6776 Ayala Avenue, Makati City, Philippines
  • Phone: +632 88-791-88
  • Email: [email protected]

FAQ


 

  • Accomplished and signed original copy of the application form

Bring photocopies of the following*:

  • Employed applicants must submit one (1) Government issued ID, three (3) specimen signatures, Income documents, any one (1) – most recent one (1) month payslip, most recent BIR Form 2316, or COE with income.
  • Self-employed applicants must submit one (1) Government issued ID, two (2) years Audited Financial Statements with BIR stamp, SEC or DTI registration, latest General Information Sheet (GIS) if corporation, latest Business or Mayor’s permit, contact details of at least one (1) supplier and one (1) customer, most recent three (3) months bank statements and letter of Authorization to conduct bank verification.
  • Borrower is required to have a personal checking account as payments are via Post Dated Checks.

Applicant must be at least 21 years old, and not more than 65 years old upon maturity of loan and a Filipino citizen with residence or office landline

If Employed:

      • Must be regularly employed for at least one (1) year with a minimum gross monthly income of PHP15,000.00 for Metro Manila applicants and PHP12,000.00 for provincial applicants*

For Self-Employed

    • With at least two (2) continuous year of profitable operations in the same line of business
    • Minimum gross monthly income of PHP30,000.00 for Metro Manila applicants and PHP25,000.00 for provincial applicants.
  • Your loan proceeds will be released via Manager’s Check or Credit to Security Bank deposit account. Proceed to the Loan Availment Center in SBS Makati (3F, Security Bank Center, 6797 Ayala Avenue, Makati City) or via designated branch for select clients only. You may be required to bring additional documents.

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