To our Valued Clients
Are you afraid of lending money because of high interest rate? Rural Bank of Calbayog City, Inc. Provide a lending service with a low interest rate. Just visit our main branch for more information.
secured loans
What is Secured Loan?
A secured loan is a loan backed by collateral—financial assets you own, like a home or a car—that can be used as payment to the lender if you don't pay back the loan.
The idea behind a secured loan is a basic one. Lenders accept collateral against a secured loan to incentivize borrowers to repay the loan on time. After all, the prospect of losing your home or car is a powerful motivator to pay back the loan, and avoid repossession or foreclosure.
Types of Secured Loans
- Real Estate Property Mortgage: Mortgage loans are at the top of the list of secured loans. Such loans are deemed "securable" by lenders because the borrower puts his or her house up as collateral. If the borrower doesn't pay back the secured loan, the home can go into foreclosure and the borrower can lose the home.
- Chattel Mortgage: Loans for auto, boats, motorcycles and even private airplanes are considered secured loans, as the vehicles are used as collateral in securing the loan. Just like with a mortgage, failure to repay the secured loan can result in the vehicle being repossessed by the lender.
Requirements of Secured Loans
- Original Transfer Certification of Title No/s
- Latest Tax Declaration (Certification of True Copy & Owner's copy) for Lot/s with No/s, Improvement with no/s
- Duly Certified sketch & Location Plan with TECHNICAL DESCRIPTIONS.
- Realty Tax Receipt for the Current Year of Property offered as per OR#
- Original copy of Tax Clearance dated
- Original Copy of Evidence of Ownership: Deed of Sale/Inheritance/Conveyance/Other Documents
- Appraisal Report
- Original Copy of City Prosecution Clearance(PERSONAL)
- Original Copy of Municipal trial in Cities Certification (Lot is not under pending litigation)
- Original Copy of RTC Certification (Lot is not used as a bond for bail in other court actions)
- Original Copy of Register of Deeds Certification (Lot is free from all liens & encumbrances)
- Original Copy of City Assessor's Certification (Free from all liens & encumbrance)
- Marriage Contract, if applicable
- Credit Investigation
- Picture of property: Front, Side, Back and Interior of Collateral offered
- Special Power of Attorney (if necessary)
- Latest Statement of Accounts
- Latest Income Tax Return
- Audited Financial Statement
- Lease of Contracts and Original Copy of Title (for income derived from rental)
- 2 Government Issued ID
unsecured loans
What is Salary Loan?
Basically, a Salary loan or Payday loan is a monetary loan provided to borrowers that must be paid in full or on installments when the borrowers receive their next pay check. The loan amounts granted are typically fairly small and are based on the gross amount of money the borrower earns for each pay period.
How to apply salary loan?
Having a big sale, on-site celebrity, or other event? Be sure to announce it so everybody knows and gets excited about it.
Requirements for Salary Loan
- Application Form
- 1pc. of I.D Picture (2x2)
- 2 Photocopies of 2 Gov't Issued I.D (w/ 3 signature specimens)
Applicant
Co-maker
- Certificate of Employment (APPLICANT) w/ at least one year in PERMANENT SERVICE (AND/OR)
- Certificate of Service Record
Applicant
Co-maker
- Certificate of Net Take Home Pay (APPLICANT)
- Original Copy of Updated Payslip (w/ signature of Accountant)
Applicant
Co-maker, AND/OR
- Certificate True Copy of Latest Payroll
Applicant
Co-maker, AND/OR
ADD'L Requirements for ELECTED OFFICIALS ONLY
- Certificate of Canvas or Proclamation
- Oath of Office
Business Loan
A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a dept, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans.
Requirement for Business Loan
- Application Form
- 1pc. of I.D Picture (2x2)
- 2 Photocopies of 2 Gov't Issued I.D (w/ 3 signature specimens)
Applicant
Co-maker
- Certificate of Employment (APPLICANT) w/ at least one year in PERMANENT SERVICE (AND/OR), if applicable
- Certificate of Service Record, if applicable
Applicant
Co-maker
- Certificate of Net Take Home Pay (APPLICANT), if applicable
- Original Copy of Updated Payslip (w/ signature of Accountant), if applicable
Applicant
Co-maker, AND/OR
- Certificate True Copy of Latest Payroll, if applicable
Applicant
Co-maker
- PCI Form
- Picture of the existing business
- Business Permit / DTI / SEC / Latest Audited Financial Statement (AFS) and/or Income Tax Return (ITR)
ADD'L Requirements for the ELECTED OFFICIALS ONLY
- Certificate of Canvas or Proclamation
- Oath of Office
Requirement for Business Loan
- Application Form
- 1pc. of I.D Picture (2x2)
- 2 Photocopies of 2 Gov't Issued I.D (w/ 3 signature specimens)
Applicant
Co-maker
- Certificate of Employment (APPLICANT) w/ at least one year in PERMANENT SERVICE (AND/OR), if applicable
- Certificate of Service Record, if applicable
Applicant
Co-maker
- Certificate of Net Take Home Pay (APPLICANT), if applicable
- Original Copy of Updated Payslip (w/ signature of Accountant), if applicable
Applicant
Co-maker, AND/OR
- Certificate True Copy of Latest Payroll, if applicable
Applicant
Co-maker
- PCI Form
- Picture of the existing business
- Business Permit / DTI / SEC / Latest Audited Financial Statement (AFS) and/or Income Tax Return (ITR)
ADD'L Requirements for the ELECTED OFFICIALS ONLY
- Certificate of Canvas or Proclamation
- Oath of Office