Equicom Savings Bank Inc. credit: information, opinions, conditions

About Equicom Savings Bank

Equicom Savings Bank, Inc., founded on September 29, 2008, has steadily established itself as a reputable financial institution in the Philippines. As a key member of the Equicom Group, the bank not only provides consumer loans but also caters to small and medium enterprises, making it a vital player in the financial landscape of the country. With its headquarters situated in Makati and a network of branches across Luzon, Visayas, and Mindanao, Equicom Savings Bank has garnered a significant market presence and has been recognized as one of the top twenty savings banks in the Philippines since 2018.

The mission of Equicom Savings Bank is to open doors and build a better tomorrow for its customers by providing accessible financial products and excellent customer service. The institution emphasizes the importance of trust and transparency in all its dealings, which is a cornerstone of its operations. The bank’s commitment to addressing customer inquiries and resolving issues is reflected in its receipt of the Pagtugon Award from Bangko Sentral ng Pilipinas (BSP), showcasing its dedication to customer satisfaction.

Equicom prides itself on building strong relationships not just with its customers but also with other Equicom Group companies, allowing for greater service delivery and comprehensive financial solutions. Today, the bank offers a variety of services including consumer loans, business loans, cash management, and fund management. Furthermore, its innovative approach has positioned it as a forward-thinking institution in the competitive financial sector.

Advantages of Choosing Equicom Savings Bank

• Diverse Loan Products: Equicom Savings Bank offers a range of personal loan options suitable for various financial needs, whether it’s for personal use, business expansion, or unforeseen expenses.
• Accessible Loan Amounts: Clients can borrow anywhere from PHP 15,000 to PHP 1,000,000, making loans accessible to a wide audience, including low and middle-income earners.
• Flexible Loan Tenure: Borrowers can choose repayment periods ranging from 12 to 48 months, allowing them to select terms that fit their financial situation.
• Quick Approval Process: With a loan approval duration of just 5 to 7 banking days, Equicom ensures that you get the financial assistance you need promptly, a vital feature when facing emergencies or critical investments.
• No Complicated Requirements: Unlike many traditional banks, Equicom does not require a guarantor or collateral for personal loans, simplifying the process and making it more accessible.
• Early Repayment Option: Borrowers have the flexibility to repay their loans early without significant penalties, encouraging responsible financial management.

Loan Terms and Conditions

To apply for a personal loan with Equicom Savings Bank, applicants must meet specific eligibility criteria:

1. Age between 21 to 65 years old.
2. A minimum annual income of PHP 240,000, or a monthly income of at least PHP 20,000.
3. Employment status as a permanent employee, self-employed, government employee, or similar stable income sources.
4. No credit card requirement, easing the application process.
5. An office landline or home phone number must be provided.

Loan processing fees range from PHP 1,500 for employed individuals to PHP 2,000 for self-employed applicants. Early repayment incurs a penalty of either 5% of the remaining principal balance or PHP 500, while late payments are fined at 3% of the overdue amount.

Why Choose a Loan from Equicom Savings Bank?

Choosing Equicom Savings Bank for your personal loan needs comes with numerous benefits. Not only does the bank offer competitive interest rates starting from 1.55% monthly, but it also emphasizes customer satisfaction through streamlined processes and a commitment to service excellence. The financial institution has built a reputation for reliability and trustworthiness, ensuring that customers feel secure in their financial transactions.

Moreover, with an extensive ATM network and established branches nationwide, accessing services and funds becomes convenient. The customer-centric approach, evidenced by quick loan processing and favorable repayment terms, makes Equicom Savings Bank a preferred choice for many Filipinos looking for trustworthy financial assistance.

In a world where financial needs can arise unexpectedly, Equicom is more than just a bank; it is a partner in achieving your financial goals and paving the way toward a brighter future.