Apply for your fully-digital personal loan worth up to one million pesos in just 10 minutes!
CIMB Bank offers a range of financial products to meet your needs, including personal loans designed to provide you with quick and easy access to funds.
If you’re considering a CIMB Personal Loan, here’s a comprehensive guide to help you understand the process and make an informed decision.
For other type of loans, visit my detailed guide for best housing loans and car loans in the Philippines!
HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!
Here's my list of useful items for you to save or earn money wisely:
Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:
CIMB Personal Loan Features
All-digital loan application
Experience a seamless & all-digital loan application – just the way it should be.
Convenient and Seamless Application Process
Apply in as fast as 10 minutes with just 1 valid ID and 1 payslip
P1M maximum loan amount
You may acquire a loan with a minimum amount of P30,000 to a maximum of P1,000,000 with a tenure range of 12 to 60 months (multiples of 12 months)
Get instant disbursement to your CIMB Bank Savings account/s or within 1-2 banking days if disbursed to other bank accounts.
Credit Life Insurance
Get additional protection equal to your loan amount with Group Creditor’s Life Insurance by Pru Life U.K., in case of Death or Total and Permanent Disablement.
CIMB Personal Loan Eligibility
Here are the criteria that you need to meet before applying for CIMB Personal Loan:
- Individuals aged 21 and above
- Applicant must be no older than 65 upon loan maturity
- Applicant must be a Philippine citizen and a non-US person
- Applicant must have a Philippine mailing address and an active Philippine mobile number
- Applicant must have a minimum gross monthly income of ₱15,000
- Applicant, if employed, must be tenured for at least 6 months, or 1 year of continuous employment, unless employed in the top 15,000 corporations
- Applicant, if self-employed, must be operating for at least 1 year
CIMB Personal Loan Interest Rates
CIMB offers both fixed and variable interest rate options. Understand the difference between them and choose the one that aligns with your preference and financial planning.
Interest rates are influenced by factors such as your credit score, loan amount, tenure, and the type of interest rate you choose.
ATTRACTIONS TO SEE IN MANILA
CIMB Personal Loan Application Process
STEP 1: Download and open the CIMB Bank PH app and tap Open an Account and then Personal Loan. Check if you are eligible and tap Let's start.
STEP 2: Input your desired loan amount and tenure.
STEP 3: Key in your mobile number and email address, then verify using the OTP sent to you via SMS.
STEP 4: Create your username, password, and set up your MPIN.
STEP 5: Get your valid ID ready and do the selfie check. Make sure that the personal information you provided is correct and complete.
STEP 6: Provide your address and make sure it's verifiable. Then, key in the additional details required.
STEP 7: Input your employment information including your complete and verifiable office address.
STEP 8: Review the details of your application to see if they are correct, then tap Submit.
STEP 9: Upload at least one acceptable income document.
STEP 10: Provide a front and bank photo of your company ID (optional). Doing so can help speed up the review of the application.
STEP 11: Select your preferred disbursement account, submit your application and you're done! Just wait for an update on your application by checking the app.
EMI Calculation: Understand how Equated Monthly Instalments (EMIs) are calculated based on your loan amount, tenure, and interest rate. CIMB provides tools on their website to calculate your EMI.
Repayment Channels: CIMB offers various payment methods, including online transfers, checks, or direct debit from your CIMB account. Choose the most convenient option for you.
Responsibilities as a Borrower
Timely Repayment: Ensure you make your monthly payments on time to maintain a good credit history and avoid late payment charges.
Read the Terms: Understand the terms and conditions of your loan agreement. If you have any doubts, seek clarification from CIMB.
CIMB Customer Support
If you have any questions or concerns, reach out to CIMB Bank’s customer service through their hotline, email, or visit a local branch.
Remember, taking a personal loan is a significant financial decision. Evaluate your financial situation, plan your repayment, and choose a loan that suits your needs. By being informed and responsible, you can make the most of CIMB’s personal loan offerings while managing your finances effectively.
If you are looking to apply for a credit card, here are my Tips to Get Approved for a Credit Card Application.
Also check out the 5 Credit Cards with No Annual Fees in the Philippines
ACTIVITIES AND TOURS IN MANILA
Other Low-Interest Personal Loans in the Philippines
Here's a list of banks or financial institutions that offer personal loans with the lowest interest rates in the Philippines:
- SSS Salary Loan
- Pag-IBIG Multi-Purpose Loan
- BPI Personal Loan
- Metrobank Personal Loan
- UnionBank Personal Loan
- HSBC Personal Loan
- Maybank Personal Loan
- RCBC Personal Loan
Also check my list of Top Digital Savings Banks in the Philippines