How to Apply for a CIMB Personal Loan Quickly and Easily


CIMB Bank is an all-digital bank that provides financial products and services to help you achieve your life goals. Aside from savings accounts, CIMB also offers a personal loan product customized to address different needs. Learning how to apply for a CIMB loan can help you take advantage of a loan amount of up to ₱1 million.

Let’s walk through the things you need to know about this personal loan in the Philippines and how to increase your chances of a CIMB Personal Loan approval.

What is the CIMB Personal Loan?

The CIMB Personal Loan is a fully digital personal loan product that allows you to get a loan amount from ₱30,000 to ₱1 million, payable in 12 to 60 months.

What is the CIMB Personal Loan Interest Rate?

The monthly add-on interest rates range from 1.12% to 1.95%, which correspond to annual contractual rates of 24%, 30%, or 36%.

How Long is the CIMB Personal Loan Processing Time?

CIMB ensures that the initial approval of personal loans is done within 10 minutes. However, the full and final approval can be within 24 hours, depending on the documents you’ve submitted.

Who is Eligible for a CIMB Personal Loan?

To qualify for the CIMB Personal Loan, you must meet the following criteria:
  • 21 years old and above but not older than 65 years upon loan maturity
  • Filipino citizen
  • With a minimum gross monthly income of ₱15,000
  • With a Philippine mailing address and an active mobile number
  • Employed for at least six months or have one year of continuous employment (unless working in the top 15,000 corporations)
  • Operating for at least one year if self-employed

What are the CIMB Personal Loan Requirements?

If you meet the eligibility criteria, then it’s time to prepare the CIMB loan requirements.[1] Here are the things you’ll need to submit.

Valid ID

Here are the valid IDs that CIMB Bank accepts:
  • Driver's license
  • Passport
  • Professional Regulation Commission (PRC) ID
  • Social Security System (SSS) ID
  • Unified Multipurpose ID (UMID)
  • Postal ID
  • COMELEC Voter's ID Card

Proof of Income

Employed and unemployed applicants each have a different set of income documents to provide:
  • For employed loan applicants - Any of the following: latest one-month pay slip, Certificate of Employment, or BIR Form 2316
  • For self-employed loan applicants - Both DTI and SEC registration of your business

Disbursement Account

Provide an active bank account where the loan proceeds will be disbursed. A disbursement fee of 1% will be charged for non-CIMB Bank savings accounts.

Stable Internet Connection and Good Lighting

With a strong internet connection and good lighting, you can quickly upload documents and get the perfect selfie during the virtual verification process of the loan application.