SB Finance Loan Application
I have made wrong financial decisions this past year and it finally caught up with me. My income was not enough to pay my monthly dues anymore so I decided to consolidate all my loans and applied with Metrobank first but got declined. Decided to try SB Finance and here's how it went:
Income: 45k/month
Loan amount: 150,000
Duration: 36 months
Jul 22: Applied online and submitted all the documents needed. I submitted an ID, ITR, and COE.
Jul 30: Received an email regarding the approval of my loan. They said someone would contact me for further details.
Aug 3: Followed up via email since I did not receive any news on how to proceed. Received a call a few hours later officially confirming approval and asked me when I want to claim my loan and which SB branch. I said if it was possible to have my appointment at the branch the next day and customer service said they'll try and get back to me.
Aug 4: Received a call that I can go to the branch that day and claim my loan. Went to the branch to sign loan agreement, open a SB acct (loan can be deposited to other banks but I was already there so might as well). Overall it took about 2 hours. After signing the documents, they have to send it to the head office for final approval. Loan was credited to my account about 1 hour after final approval.
Generally, the process was easy and convenient. It was also a big help that the one assisting me at the bramch was bery welcoming and helpful and answered my questions.
Hoping this could help anyone feeling anxious about their financial situation.