About bank
SB Finance Company, Inc. is a conglomerate of the Security Bank Corporation (SBC) and the Bank of Ayudhya (Krungsri) in Thailand. It is a financial firm that provides commercial banking services to suit the needs of customers in the Philippines.
In 2020, the Security Bank Corporation (CBC) and the Bank of Ayudhya joined forces to establish SB Finance. This strategic partnership results from the Security Bank and the Japanese MUFG bank's main objective of expanding global alliances while growing local talent and skill.
The core mission of SB Finance is to offer comprehensive financial planning, literacy, and empowerment to Filipinos. As SB Finance clients, Filipinos can easily receive multipurpose personal safe loans to pay for necessary expenses or tuition fees, renovate or build their dream homes, and fund their businesses, pet projects, or other ventures.
In this way, when seeking solid advice on money, business, education funding, and everything finance, SB Finance is the go-to source for helping Filipinos from every walk of life meet their financial needs and accomplish their life's milestones.
SB Finance is overseen by the Bangkok Sentral ng Pilipinas and Securities and Exchange Commission. It is a consumer lending company with SEC registration No. CS0017174A and Certificate of Authority No.1142, both approved in 2020. SB Finance's registered office is at Keyland Arnaiz, 849 Antonio Arnaiz Avenue, Legazpi Village, Makati City, Izzo, Philippines. They can be reached through their customer service hotline at (+632) 8887-9188 or by email at [email protected].
Pros and cons
Knowing the advantages and disadvantages that follow the operations of any financial institution enables you to make wise decisions when applying for your preferred loans.
Pros
- The application process is quick and easy as no collateral or credit card is required. With this, applicants can borrow up to ₱2 Million.
- SB Finance offers a wide range of loan product packages with flexible loan payment terms and low-interest rates.
Cons
- SB Finance only grants loans to Filipino citizens.
- They do not give out loans to self-employed applicants who show no proof of income.
Products
SB Finance provides users with multiple lending products. The company is known for its personal and car loan services across the Philippines. Below are some of the products offered by them.
Personal loans
The company provides personal loans for applicants who urgently need funds to fulfill their immediate needs. Borrowers can use this money to cover transactions like education, business, travel, and debt consolidation. SB Finance provides loans ranging from ₱30,000 to ₱2,000,000 with a loan tenure of 12 to 36 months. The loans come with a monthly add-on rate of 1.89%, and the estimated APR of a 36-month loan goes up to 37.5%
Car4Cash
Applicants with an automotive vehicle can opt for a car loan instead of a personal one because it offers lower interest rates. The company does not require you to surrender your car for collateral, and you can get a loan by submitting its OR/CR. Users can borrow up to ₱2,000,000 depending on their vehicle, and the offered loan term ranges between 12 to 48 months. The monthly add-on rate ranges between 1.25% to 2.00%
Hooloogan
This product offers users a cash credit line that can be used to make purchases from partner stores. Users can also use it to apply for a cash loan ranging from ₱10,000 to ₱200,000. This loan can be repaid in easy installments and comes with a loan tenure of up to 48 months with a monthly add-on rate of 3.5%. The credit line also serves a Buy Now, Pay Later service in many partner stores.
MotorsikLOAN
Users can use this product to purchase any motorcycle they want, depending on their credit worthiness. The bank also offers applicants an option to buy a motorcycle with just a 5% down payment. Applicants can borrow up to ₱2,000,000 with a loan tenure of 12 to 48 months. Depending on your chosen vehicle, the monthly add-on rate ranges from 1.2% to 2.47%.
