Also known as Cocobank, United Coconut Planters Bank, as implied by the name, caters heavily to coconut farmers though this bank also serves other clients as well. It offer a wide range of services that accommodates even OFWs from abroad, self-employed clients and locally employed clients. Since it was established in 1963, UCBP has been known in providing an exceptional customer service and innovative financial products that caters the needs of the Filipino people.

A premier bank product offered by UCPB is its UCPB loan. With UCPB loan – you can enjoy tons of benefits at very competitive interest rates per annum, as well as flexible payment schemes ranging from 12, 18, and up to 36 months.

Now, if you are planning to apply for a UCPB loan, whether you be an OFW, a seaman, a businessman, or just someone who’s planning to invest, start a business, buy a house and lot or a car, here is a comprehensive and complete guide of everything you need to know have you been considering to apply for a UCPB loan.

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United Coconut Planters Bank (UCPB) Loan Requirements

    1. Legibility Criteria:
      • You are legible to apply for a UCBP loan if you satisfy the following criteria:
      1. Age Requirement: 23 – 65 years old.
      2. Employment eligibility : minimum gross monthly income of at least P30,000.00
      3. If you are a business owner, your business must be registered to the SEC and DTI and has been earning profit for the last three years.

    1. General requirements:
      1. Fully accomplished loan application form
      2. 2 Government issued valid IDs
      3. A photocopy of these 2 valid IDs
        • Some of these valid IDs include driver’s license, passport, SSS ID, Postal ID, PRC ID etc
      4. Copy/Copies of the last 6 months’ of your deposit passbook or your bank statements
      5. Documents needed:
        1. For self-employed applicants:
          • Articles of Incorporation
          • DTI Registration
          • SEC Registration
          • Income Tax Return copy with BIR or bank stamp
          • Photocopy of Business Certificate
          • At least names and phone numbers of 3 Trade References.
        2. For locally employed applicants:
          • Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year
          • Original copy of Certificate of Employment
          • Photocopy of last full month pay slip
        3. For OFWs/Loan from abroad
          • Certificate of Employment (COE). This needs to be authenticated by the Philippine Consulate.
          • Crew Contract and Exit Pass. This needs to be authenticated by POEA.
          • Last 3 months’ pay slip.

Process of applying for a UCPB loan

It’s actually very simple. Just fill out the application form, submit all the requirements needed.

And then wait for the approval. You can also apply online (www.ucpb.com/loaneasy/). Just fill in the required entries and submit.

Wait until the customer service gets back at you so you can set an appointment at your preferred time. Still, you should submit all the requirements needed at the bank.

In case you have any inquiries about your auto loan, salary loan, home loan, or business loan, contact UCPB here: (02) 811-9100 on weekdays from 8:30-5:00pm Philippine time.

United Coconut Planters Bank UCPB Loan Products

1. UCPB DrivEasy Loan (Car Loan)

UCPB makes it easy for you to have a new vehicle investment that could give you the best returns. With its DrivEasy Loan, you can avail a car with much ease given its easy payment methods, flexible payment terms, high loan quantum, and other attractive benefits. UCPB offers three types of auto loan offerings: purchase a brand new vehicle, a second hand vehicle, or you can opt for a multi-purpose loan where you use your existing vehicle as a collateral.

As for how much is the down payment, UCPB gives clients flexibility with respect to how much down payment they can give. Also, UCPB offers you the convenience of a UCPB loan calculator.

If you are unsure of how much your monthly will be, a UCPB loan calculator is available on their website for you to be able to assess how much your monthly payment should be. Simply key in the current price of the car you want to purchase, your preferred down payment, and how long you want to pay off the loan. After doing this, the UCPB calculator will show you an estimate of the monthly payment you would have to fulfill. But also, it will show you how much your net monthly earnings must be.

  1. Annual Interest Rates (Fixed):
    • 1 year to pay: 4.63%
    • 2 years to pay: 10.19%
    • 3 years to pay: 14.78%
    • 4 years to pay: 20.65%
    • 5 years to pay: 27.28%
  2. Loanable Amount:
    • ₱100,000.00 – ₱5,000,000.00
  3. Loan Terms:
    • 1-3 years for brand new vehicles; 1-5 years for second-hand vehicles.

2. HomEasy Loan (Housing Loan)

With UCPB’s HomEasy loan, you can procure a new house, construct a house on your already owned lot and even renovate your house. Also, it can serve as a multipurpose loan, a collateral to refinance the existing mortgage from another bank.

UCPB loans give special advantages such as low interest rates and faster processing time while you are looking for the house you wish to purchase from UCPB’s list of real estate developers. Also, there is no additional surveys nor appraisals. The tenure is up to 10 years, while for those who avail a home loan for the purpose of refinancing, the tenure is up to 10 years.

  1. Annual Interest Rates (Fixed):
    • NA
  2. Loanable Amount:
    • ₱500,000.00
  3. Loan Terms:
    • Maximum of 20 years for construction and acquisition of house and lot, town house, and condo units; maximum of 10 years for refinancing multi-purpose loans and acquisition of vacant lots

3. SalarEasy Loan (Personal Loan)

If you are in dire need of a salary loan ranging from ₱50,000.00 – ₱300,000.00 UCPB offers a salary loan that lets you apply with friendly payment terms of up to 3 years.

What more?

You don’t need to have a credit card, you just have to be a current account holder whose gross monthly income is at least P30,000.00 for Metro Manila based and ₱15,000.00 for provincial based applicants. Of course, you should also pass the requirements needed. As for how long you would have to wait to get your loan approved, the approval duration generally takes 5-7 days. Really, it is as convenient as it can be.

For a better reference, refer to the table below to know how much to pay given the loan amount you want to avail and your preferred loan term.

  1. Annual Interest Rates (Fixed):
    • 18% per annum + 1.50% monthly add-on interest rate
  2. Loanable Amount:
    • ₱50,000.00 – ₱1,000,000.00
  3. Loan Terms:
    • 1-3 years

4. BizEasy Loan (Business Loan)

UCPB’s BizEasy loan can be availed by manufacturing companies, distributors, medical and technical professionals, entrepreneurs, and franchises and many more. It has three loan facilities: promissory note lines for inventory buildups and working capitals, term loans for office expansion or construction of warehouse, and franchising loans to finance the franchising requirements of you as a borrower.

These three loan facilities will give you, as an entrepreneur, a chance to expand your business without having to worry about high interest rates. If there is something even greater about UCPB’s business loan, it is that the bank designs custom made loan packages that will suit your financial capability.

  1. Annual Interest Rates (Fixed):
    • NA
  2. Loanable Amount:
    • ₱500,000.00 – ₱15,000,000.00
  3. Loan Terms:
    • 1-10 years

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Tips to Know when Applying

1. Have a good credit history

One reason why loan applications get rejected is due to a bad credit history, so you really have to have a good credit history. But as a starter, it’s hard to know when to start especially if you have zero experience in using credit. If that is the case, it is advisable that you always look for the best starter credit cards first. Build a good credit history. Pay your credits on time.

2. Ask questions

If there is something about the loan package that confuses you, never hesitate to ask questions. If as you browsed online, you saw a loan package that matches your interest, try contacting the bank directly to find out upfront if there are other requirements needed and what the requirements are for loan eligibility.

If you want, you can also make an appointment in person so that they can better discuss the essential documents needed, the timeline, interest rate, or the timelines, which you need to know before you get started with the approval process. Banks don’t always make available online some necessary information needed when applying for a loan. So, it’s really good to still ask questions to have a better assurance. In that way, you can spare some of your time going back and forth to the bank just so you can pass the other requirements needed.

3. Have the right expectations

When applying, make sure that you have the right expectations. You can expect little but never expect too much. In case you don’t meet the qualifications, have a back-up plan. If you want, look for other banks that also offer rates that are as competitive as UCPB’s loan plans.

4. Know your limitations

Always consider your financial limitations when applying for a loan. If you yourself are aware that you have greater tendencies not to be able to pay on time, as you have so many other financial responsibilities other than the loan you are planning to apply for, reconsider your application.

Be keen on assessing your financial capability. Sometimes, though you satisfy the legibility criteria as imposed by the bank, the person who could best assess your capability to pay is still you.

Frequently Asked Questions

  1. How long does it take to get approved?
    • How long does it take to get approved?
      Typically, the entire application and funding process takes about 7 days. But it still depends on whether you get to pass every requirements needed as early as possible.
  2. How much can I borrow? 
    • How much you can borrow depends on the amount of loan you wish to avail. For UCPB home loan and business loan, the minimum amount you can borrow is ₱500,000.00. For car loan, ₱100,000.00 is the minimum, while for personal loans, you can avail from ₱50,000.00-₱300,000.00
  3. Can I loan without United Coconut Planters Bank Account?
    • Yes, you still can apply for a loan. But once approved, the bank will prompt you to open a UCPB deposit account.
  4. What are the valid IDs for Applying United Coconut Planters Bank Loan?
    • The valid IDs include all government issued IDs such as passport, SSS ID, GSIS ID, Postal ID, PRC ID, and Voter’s ID. UCPB also accepts driver’s license and NBI clearance.
  5. Can I Apply Loan Online or Abroad?

Pros of Choosing United Health Coconut Planters Bank Loan

Having been operating for 53 years, UCPB has established a formidable reputation in the banking industry. By choosing UCPB, you are rest assured of a service that’s been trusted by many Filipinos, which is evident as it’s one of the top 20 banks in the Philippines in terms of the number of assets. And it is incontestable why they have been in the banking industry for over five decades.

As a bank that caters loans, UCPB’s bank loans gives high loanable amount at a competitive interest rate. From salary loan, business loan, car loan, and housing loan – any of these you can avail with fixed monthly installment and with no additional appraisals and surveys. Moreover, as said earlier, it offers you flexibility as it can give you the liberty to choose how much down payment you can afford. Either you are looking for ways to pay off your debts, pay for your loved ones tuition fee, purchase your dream car or your dream home, let UCPB take care of you financial needs.

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