Security Bank extends loans to frontliners

MANILA, Philippines — Security Bank Corp. continues to extend loans to frontliners, particularly doctors, in recognition of the role they play in the country’s fight against the pandemic.

Through the bank’s doctor’s loan offering, physicians are able to obtain loans with a three-month, interest-free deferment on payments, a special interest rate and flexible payment terms of up to 60 months, with loans being approved within three to five banking days.

“Being agile to the needs of the communities we serve at Security Bank, we knew we had to provide financial relief to our physicians in times of need. Through our Doctor’s Loan, we are able to help our frontliners secure funding for their child’s tuition, clinic renovations and additional liquidity,” said Security Bank president and chief executive officer Sanjiv Vohra.

The loan product, a variant of Security Bank’s corporate salary loan, was rolled out in May last year to the medical community, starting with St. Luke’s Medical Center.

“As we work toward becoming the most-customer centric bank in the Philippines, we will continue to invest in what matters to our clients. Through this recognition, we can re-affirm our commitment to provide our clients with services to power BetterBanking,” Vohra said.

As a result, UK-based finance journal Retail Banker International (RBI) recognized Security Bank’s Doctor’s Loan product as a trailblazer in product innovation.

RBI recognized the loan product as the Best Loan Offering, giving it a “Highly Commended” citation.

“Among the key takeaways from the awards submissions in 2021 has been the resilience of the regional banking industry and their ability to develop innovative solutions and deliver new offerings in record times to help combat the financial implications on their customers in response to the COVID-19 pandemic,” RBI said.

The 2021 edition of the awards received over 300 entries from 25 countries across the Asian continent, representing the best-in-class consumer finance and retail banking companies.