What is Robinsons Bank?
Robinsons Bank is a Philippine commercial bank providing banking and financial services to individuals, businesses, and institutions. Established in 1997, Robinsons Bank is the financial services arm of JG Summit Group of Companies, one of the Philippines largest conglomerates.
The bank provides a range of products and services including savings accounts, current accounts, time deposits, debit cards, credit cards, online banking services and loan facilities. With its digital platforms like RBank Digital mobile banking app and website, customers can securely access their accounts anytime anywhere.
Robinsons Bank Go Salary Loan, how does it work?
Robinsons Bank Go Salary Loan is a convenient and secure loan facility for employees of select Robinsons Bank partner companies and establishments. You can have a loan amount that is based on your salary and with minimal interest rate.
The application process is simple and easy as it uses end-to-end digital process. There’s no need to visit a physical bank branch as the Robinsons Bank loan application and document submission is done electronically through electronic promissory note (ePN). It requires One-Time Password (OTP) as an added security.
Robinsons Bank Loan Interest rate
Robinson’s bank does not publish the interest rate for the salary loan program. However, employees who will avail themselves of the loan can see the loan table when they apply, including associated service and processing fees, which will be deducted from the loan amount.
How much is the Robinsons Bank Go Salary Loan?
The minimum loan amount offered by Robinsons Bank under the GO Salary Loan Program is PHP10,000. The maximum loan amount available for loan approval depends on the applicable credit ratio or the ratio of monthly installment against your net income.
Is Robinsons Bank SEC registered?
Yes. Robinson’s Bank is registered with the Philippine Securities and Exchange Commission. It has the authority and license to operate as a bank.
Robinsons Bank Go Salary Loan benefits
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Go! Salary Loan is the newest loan facility that offers employees of partner companies an opportunity to access financial resources quickly and conveniently. The loan is collateral-free, so there is no need for any guarantor or security deposit to be submitted.
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Go! Salary Loan has quick processing time, with borrowers typically receiving their approved loans within 3 business days after submitting their application. In addition, with its multipurpose nature, the salary loan can be used for anything from personal expenses to emergency funds.
Robinsons Bank Go Salary Loan, how to apply?
To apply for a Robinsons loan, you have to access your assigned company URL. You must provide the following information:
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Job position
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Monthly salary
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Desired loan amount
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Desired loan payment term
Fill out the online application form available from the site. Submit it online together with the documentary requirements. Robinsons Bank will review and process your salary loan application within 3 banking days. You will be notified about the status of your load via SMS and email.
Once your loan is approved, the money will be credited to your RBank payroll account or your nominated bank account.
Robinsons Bank Loan Requirements
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You must be at least 21 years old and not more than 60 years old.
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You must be a permanent or regular employee from a company accredited under the salary loan program
- For Managers and Executives: minimum tenure of 1 year
- For Rank and File and Supervisors: minimum tenure of 1 year and 6 months
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You must be able to provide the latest month payslip.
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You must have a minimum annual income of PHP120,000.
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You must have a valid government-issued ID.
Robinsons Bank Go Salary Loan, how to pay?
Loan payments are made through salary deduction arrangement. Your employer will facilitate this auto-debit system and the payment will be remitted to RBank on a monthly basis until the loan is fully paid.
Through this setup, employees can rest assure that RBank will directly receive their payments quickly and securely every month. Moreover, since this loan payment system is automated, it helps reduce any potential errors in manual salary deductions or payment filings by employers. This also enables employees to make timely payments on their loans to avoid
With this new program, employees can now enjoy greater financial control over their money while still being able to make timely payments on their loans.
What happens if you can't pay?
Since the payment system is automatically deducted from your salary, there’s little chance of not being able to pay the loan. If you resign from the company, the outstanding loan balance is due and demandable, which means the company shall deduct it from your last pay. Also, since the loan comes with a credit insurance, it will pay for the outstanding balance in case of death.
If you are finding it difficult to pay due to financial hardship, you must contact your HR or account manager so that you can negotiate for a payment arrangement that will be fair to both parties.
Robinsons Bank loan app
There is no separate Robinsons Bank loan app to download to avail of the salary loan. Since loan eligibility hinges on the employer or company’s accreditation to the Salary Loan Program, the platform to use is the assigned company URL that can be accessed by employees. The application process from start to end is done on the site.
Robinsons Bank, customer service
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Hotline: +632 637-2273
Robinsons Bank Go Salary Loan, reviews
Robinsons Bank Go Salary Loan is a great for companies to give their employees some financial boost. Companies under the salary loan program have the opportunity to help their employees who are struggling financially. Under this program, employees can have access to a loan facility through the strength of their companies’ partnership with Robinsons Bank. They don’t need to jump through hoops just to get a small Robinsons Bank cash loan. There’s minimal documentary requirements and the payment arrangement is beneficial to both the bank and the borrower.
Having access to immediate funds can help ease some of the financial burden when there are emergencies and other unexpected expenses. It is recommended that employees whose companies are under the program avail of this loan facility.
Have you used the Robinson Bank Go Salary Loan? Share your experience here.