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ING Philippines

Advertiser Disclosure

About bank

The Internationale Nederlanden Growl, or the ING, is a global bank that is headquartered in Amsterdam. The bank was established in the year 1990, and today it operates in more than 40 countries across Europe, Asia, and America. ING is known for the essential services it offers in direct banking.

ING is a commercial bank, launched in the year 1990. The main features of this bank include mortgage, savings, investment, personal loans, and business financing. It is one of the oldest commercial banks in the Philippines. The bank offers different types of loans to Filipinos, quick loan approvals, and flexible loan terms.

Pros and cons

Before submitting your loan application, it is important to know all the pros and cons of the bank:

Pros

  • The bank offers quick responses to applicants.

  • The bank offers flexible loan terms.

  • No processing fee is required, which means the borrower gets the amount they applied for in full.

Cons

  • The interest rate is higher in comparison.

  • The bank offers limited lending services.

Loan conditions

A Filipino resident can apply for the ING personal loan if they are aged between 21-65 and have an active ING account. The borrower must submit their salary or payslip, and they are also asked to provide their tax identification number and BIR 2316.

Types of loans

Life is full of unexpected events, and to handle these events, money is important. If you are in a similar situation, the ING bank features the ING loan that is offered at a meager interest rate. They don’t charge any additional fees like early repayment fees, etc.

The loan amount ranges from ₱30,000 to ₱250,000, and the interest rates start from 1.83% per month. The loan comes with flexible payment terms of 12 to 60 months.

ING Philippines

FAQ

What is the ING Bank?

ING Bank has been operational in the Philippines since 1990, with its corporate headquarters in Amsterdam. The bank is known for providing wholesale banking services to international and local corporations. They were the first foreign bank in the Philippines that became a universal entity.

Who owns ING Bank?

ING Bank is owned by the ING group. The CEO of ING bank is Steven van Rijswijk.

How do you qualify for an ING loan?

To qualify for a loan in ING Bank, the applicant should be a Filipino resident and have an ING pay or savings account, and they should be aged 21-65. They must be employed and should have a tax identification number. To qualify, the applicant will also be required to submit their last three months of payroll and a BIR form 2316.

Is ING Bank a legitimate company?

Yes, ING bank is a legitimate company. The bank is under direct supervision from the European Central Bank (ECB) as part of its Single Supervisory Mechanism (SSM), which makes it a registered and legal entity.

What is the minimum amount for a personal loan?

The minimum amount you can borrow as a personal loan is ₱30,000. 

For what period can I take out a personal loan?

The applicant can take out a personal loan of up to 60 months. 

Can I take out a personal loan for starting a business?

Yes, the personal loan taken from ING bank can be used for any given purpose, and the decision depends on the borrower. 

What are the requirements for personal loans?

To apply for a loan, you must:

  • Have an ING Save or Pay Account

  • Be at least 21 years old and not older than 65 years old by the time your final loan payment is due.

  • Be a Filipino citizen, living and working in the Philippines.

  • Be employed with a minimum monthly net salary of ₱20,000.

  • Have a Philippine tax identification number (TIN).

  • Have a payroll bank statement for the last 3 months.

  • Have a BIR Form 2316 for the latest year.

What is the longest personal loan term?

The longest personal loan term offered by the bank is 24 months. 

What is the duration of personal loan processing?

You can complete your ING personal loan application online in around 10 minutes. Once you’ve submitted your application the entire process of reviewing your application makes a final decision. To release your payment, the bank takes around three to five banking days. 

What is more profitable - a long personal loan term or a short one?

Short-term loans are more profitable because they have lower interest rates. On the other hand, long-term loans offer far more flexibility and easier repayment options.

Company documents

Terms & Conditions
Privacy Statement

Our purpose is to empower people to stay a step ahead in life and in business.

© ING Bank N.V.

Financial products

ING Philippines
ING Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱30,000 - ₱250,000
Rate
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Effective interest rate on the product

from 1.83% per month
Term
i

Loan term for the financial product

up to 60 months

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