PERSONAL LOAN COMMON REQUIREMENTS: List of Eligibility & Documentary Requirements

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Lists of Personal Loan Common Requirements (Eligibility & Documentary)

PERSONAL LOAN COMMON REQUIREMENTS – Here are the lists of the usual eligibility and documentary requirements in applying for a personal loan.

There are several types of loans that banks in the Philippines offer. One of the loans that almost all banks in the country offer is the personal loan.

The personal loan is a flexible type of loan as you can apply for it for any purpose – purchase of a gadget, covering the travel expenses, paying for the electricity bill, paying for the school fees, etc.

Just like the other types of loans, there are also Personal Loan requirements which include the eligibility qualifications and the documentary requirements.

Personal Loan Common Requirements
Photo Courtesy of GetBucks

Among the eligibility qualifications and documentary requirements set by banks, there are these Personal Loan common requirements in applying.

Based on an article on Moneymax, here are the lists of the usual requirements including the eligibility qualifications and the documentary requirements:

COMMON ELIGIBILITY REQUIREMENTS:

The applicant must…

  • be not younger than 21 years old
  • be a Filipino citizen
  • comply with the gross income requirement of the bank
  • bear a good credit history

COMMON DOCUMENTARY REQUIREMENTS:

  • valid government-issued ID
  • latest Income Tax Return
  • pay slips
  • Certificate of Employment
  • financial statements

Those are the documents that are usually required in the application for a personal loan but the banks may have additional requirements.

Are you planning to apply for a personal loan to any bank? You may visit:

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