Finance Midterm Activity #2

Assess yourself on the very objective/purpose when you decide

to acquire loan/credit. Then, identify as to where you will
acquire the loan and determine the possible qualifications and
requirements.

Objective:
If I were the one to acquire a loan, I think it would be best to
acquire it for health emergencies, wherein I’m in the situation
that I don’t have enough money, or any money at all and I don’t
have any sources of money left for the said emergency except to
take a loan. Moreover, as it is an emergency, the money is
needed ASAP. I decided that this would be the best time to take
a loan since life matters most.

Source of Credit:
Citibank Philippines

(Citi Personal Loan approve loans in as fast as 24 hours, which is

very helpful as it is for an emergency; it offers high loan amount
of up to P2 million without any collateral or guarantor; flexible
repayment terms of 1 to 5 years; plus Citibank is highly rated by
customers due to commendable service and minimal
documentation)

Qualifications:
You are at least 21 to 65 years old.

You are a Filipino resident or a local resident foreigner with a

valid Philippine billing address.

You have a Tax Payer's Identification Number (TIN).

You are a principal credit cardholder.

Have a minimum gross annual income of Php 250,000.

Requirements:
Please submit the following:

One (1) valid government-issued ID with photo and signature.

For employed: Latest 1 month full pay slip

For self-employed: Latest Income Tax Return (BIR Form 1701);

and Audited Financial Statements (AFS) of the business with
independent auditor's report and balance sheets and tax receipt

Duly accomplished application form Fill out online, Download

Form.

Foreign Nationals:
Please submit a photocopy of either of the following:

1) Valid passport or ACR, AND

2) Any of the following proofs of local residency:

a. Immigrant Certificate of Residency (ICR)

b. ACR I-Card with Visa status "Permanent", otherwise, should

be valid for more than 1 year

c. Visa and Work Permit/Alien Employment Permit (AEP) with

validity of more than 1 year

d. Special Resident Investors (SRIV)

e. Special Resident Retirement Visa (SRRV)

f. For Top 2000 companies, employment contract or letter from

Company HR printed on company letterhead with name,
position, and confirmation of term.

You may send your documents via:

Email to loans.ph@citi.com
Web Sources:

https://www.bankbazaar.com/reviews/citibank/personal-
loan.html

https://ph.news.yahoo.com/personal-loan-low-interest-rate-
020016038.html?
guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvb
S8&guce_referrer_sig=AQAAADX_LCLRMmyir8XWADclywrRDu-
qvRWcz-
qm7FxuCHPgCk2KkBXwoqaTI1AipUyO4a6HAt6VLj1yQxP3_by_3bhB
RmTvSc6PrbhAXlMuDzZoz6TqMpUlDStlMJIN4ZNOyedaYtXrT61Pg7-
G-U_Kt38QQ6KCs0QXnTG6Iy_b6Qi0

https://www.citibank.com.ph/loans/Citi_Personal_Loan?
tab=requirements