Financial IQ: Chinatrust Philippines Loan

I got this email offering non-collateral loan.  Interest rates are quite high (approximately 16% per annum = 1.36% x 12 months).  This type of Philippines loan has its place especially if we need quick cash to buy assets not liabilities.

CHINATRUST PHILIPPINES OFFERS LOAN

FROM 20,000 UP TO 1 MILLION IN 48 HOURS


WE OFFER THE FASTEST PROCESSING TIME 48 HRS.!!!


1.  FORMER CHINATRUST SALARY LOAN CLIENTS –
        RE-AVAIL YOUR LOAN OPEN TO 100% FULLY PAID ACCOUNTS


48 hrs release  for top 7000 Corp. Employees!!!!!
5 working days release for NON-TOP 7000 Corp. employees……..


COVERAGE: Working in the following areas only
METRO MANILA, LAGUNA (up to Calamba, and San Pablo & Los Banos), CAVITE, BULACAN (Meycauayan, MARILAO, BOCAUE, MALOLOS, CALUMPIT, Balagtas, san Jose del Monte, Sta. Maria, Guiguinto, Obando, Plaridel, Hagonoy, Bulacan) RIZAL (Antiopolo, Cainta, Taytay, Angono, Binangonan, San Mateo, MONTALBAN), PAMPANGA (San Fernando, Angeles, Mabalacat, DAU, PORAC, APALIT, Guagua, Mexico, Magalang, Sta. Rita, San Simon, Lubao, Bacolor, Sta. Ana, Sexmoan) ZAMBALES (OLONGAPO, SUBIC, San Marcelino, Castillejos), CEBU, and DAVAO, TARLAC (Bamban, Tarlac City, CAPAS, GERONA) BATAAN, BATANGAS (Batangas City, Lipa City, MALVAR, TANAUAN, STO. TOMAS), MISAMIS ORIENTAL, CAGAYAN DE ORO, BUKIDNON, ILIGAN CITY)


at 1.39%- 12 MONTHS, 1.49%- 18 MONTHS & 24 to 36 MONTHS -1.69%
INTEREST RATES… applies for loan amount 50k above…
For loan amount below 50k
1.79% for employees of top 7,000 corp
1.89% for employees of non-top 7,000 corp


GENERAL QUALIFICATIONS:
ATLEAST 23 – 60 YEARS OLD,
1 YEAR REGULAR EMPLOYEE WITH CURRENT EMPLOYER, IN THE PHILIPPINES ONLY
Php 15,000.00 MONTHLY BASIC SALARY – working within Metro Manila, Cavite & Rizal
Php 10,000.00 MONTHLY BASIC SALARY – working within LAGUNA, Bulacan, Pampanga, Olongapo, Subic, Cebu, Davao, Tarlac, Bataan, Batangas and Cagayan de Oro




QUALIFICATIONS AND REQUIREMENTS FOR EMPLOYEE:
TO QUALIFY:
1. 23 to 60 yrs old upon loan maturity
2. must be within the coverage_area  
3. income requirements:
   a. 15,000 basic salary (Metro Manila, Rizal, Cavite)
   b. 10,000 basic salary (other areas - laguna, batangas, pampanga, zambales, bataan, cebu, davao)
4. work tenure:
   a. 1 year - Regular employee
   b. 2 years - Call center / BPO Agent status & frontliner


REQUIREMENTS:
1. Application form - request or download
2. company id and 1 gov't issued id with 3 specimen signatures
3. ITR 2316 for the year 2009
4. 1 month Payslip - (3mos. might be required)
5. COE - (required for Call Center , BPO & selected_companies - check if your company is included)
6. Proof of Billing Address - (required for Call Center & BPO only)




QUALIFICATIONS AND REQUIREMENTS FOR SELF-EMPLOYED:
TO QUALIFY:
1. open to all self employed (sole-proprietor)
2. Business must be atleast 3 years in operation
3. 25 to 60 years old upon loan maturity
4. must be within the existing coverage_area  
5. must have an existing credit card for 1 year in good standing


REQUIREMENTS:
1. Application Form - request for a copy or download
2. DTI Registration (unexpired)
3. 6 months bank statement or copy of passbook showing 7 months transaction
4. 2 months latest credit card statement
5. photocopy credit card
6. 2 government issued ID (very clear copy)
7. 3 suppliers and 3 client with landline
8. Proof Of Billing
9. 3 specimen signatures




QUALIFICATIONS AND REQUIREMENTS FOR PROFESSIONALS
TO QUALIFY:
1. open to all professional with PRC
2. must be practicing professional for at least 3 years
3. 25 to 60 years old upon loan maturity
4. must be within the existing coverage_area  
5. must have an existing credit card for 1 year in good standing


REQUIREMENTS:
1. Application Form - request for a copy or download
2. PRC ID (unexpired)
3. 6 months bank statement or copy of passbook showing 7 months transaction
4. 2 months latest credit card statement
5. photocopy credit card
6. 2 government issued ID (very clear copy)
7. 3 suppliers and 3 client with landline
8. Proof Of Billing
9. 3 specimen signatures




REQUIREMENTS FOR PART OWNER OF CORPORATION
REQUIREMENTS:
a. APPLICANT’S REQUIREMENTS
1. Application Form
2. 1  month latest pay slip
3. Company Id & 2 government Issued Id w/ Picture (very clear copy)
4. ITR 2316
b. Documents under company
5. Copy of 3 months Bank Statement  - under company
6. Copy of 2 years Financial Statement & ITR,
7. Copy of SEC Reg.
8. Copy of General Info Sheet (GIS)
9. 3 Suppliers and 3 clients reference
10. 3 specimen signatures




NOTEs:
1. GOVERNMENT EMPLOYEES NOT QUALIFIED TO AVAIL (only SSS, GSIS, Philhealth, DBP, Landbank employee accepted).
2. FOUNDATIONS / NGO’S NOT QUALIFIED TO AVAIL