Filipinos are very resilient. You can see this in the way they work. They would do their best to earn the money they need in order to pay for their future goals that may include their own house and lot, a new car, a dream vacation, or a startup company.

Sadly, there will be times that they will fall a bit short. Despite this, they would still look for solutions that could help them achieve their objectives. A few would turn to banks and other lenders that offer loans.

Checking the eligibility requirements for personal loan is, of course, something you should do to ensure your loan will be approved. For more details about this, refer below.

Choose a reliable bank

In all honesty, there are too many financial institutions offering packages for a personal loan. It could get a little overwhelming if you don’t know what you’re looking for. It is highly suggested that you look for banks that could cater to your needs with the lowest possible interest rate.

When making your inquiries, you could go to their website, call their phone line, or personally visit the branch in your area.

Prepare all the necessary documents

The bank or lender will ask you to submit an application form, together with some documents and paperwork. From the information you’ve given, they would assess whether you are able to pay back the money you are borrowing.

The most important thing to remember when completing them is to ensure that all the data you’ve input are true. Before submitting the documents, check them all at least thrice! After all, you wouldn’t want to get rejected simply because your paperwork is not complete.

Get ready to answer calls

Once you’ve submitted your application, keep your phone lines open and expect the credit investigator to verify all the information you sent.

During these calls, remain calm and answer the questions in an honest manner. If you have a character reference, let that person know that they may be receiving a call from the bank regarding you taking a loan.

Wait patiently for the results

It depends on the bank or the lender how long they need to verify all the information you’ve submitted to them. But it usually takes them three weeks. After this time, you will receive a notification (either through a phone call or an email) to let you know whether your personal loan has been approved or rejected.

Claim your cash loan (if approved)

If you received the news that your loan has been approved, then congratulations!

All you have to do now is claim it. Now, depending on what you and the bank agreed upon, you could receive it via a manager’s check, through an ATM, or as a direct credit to your account.

Be sure to spend it wisely once you have it. If possible, try to set up a personal payment plan that would work best for you so you don’t miss any deadline to repay the loan.


Remember these tips when applying for a personal loan from Citi or from other banks. The whole process could be a grueling one so be sure to prepare yourself right from the start.