Looking to buy a new cellphone but short on budget? Good news! CARD Bank Inc. offers a Mobile/Cellphone Loan, a special program designed specifically to help qualified borrowers—especially women—get access to affordable phones for communication, digital transactions, and access to konek2CARD, the bank’s mobile banking app. It’s a practical way to help women stay connected with their community, centers, and digital financial services. This program is also part of their broader goal to support their Mobile Financial Services (MFS) initiative and encourage the use of the konek2CARD app.
Whether you’re a long-time CARD Bank member or a repeat borrower of CARD Bank Inc., this guide walks you through everything you need to know about applying for the Mobile/Cellphone Loan, including eligibility, application steps, loan details, and disbursement process.
Program Overview
CARD Bank’s Mobile/Cellphone Loan was established under its mandate as a microfinance-oriented rural bank’s poverty-eradication mission. The loan product enables underserved clients (especially women) to acquire cell phones, explicitly framing the loan as a step “in further support of the Mobile Financial Services (MFS) project” to expand digital banking access. Its introduction was driven by board-level strategy to leverage technology for inclusion, coinciding with national financial‑inclusion initiatives and the rising use of mobile phones in rural communities, effectively pairing its financial inclusion goals with tools that connect clients to formal banking services.
Loan Features
In line with this, the program offers the following features:
- Loan Purpose: The loan proceeds are strictly intended for purchasing a mobile phone or cellphone unit. This aligns with CARD Bank’s goal of helping borrowers stay connected and manage their finances digitally through the konek2CARD platform.
- Loan Amount: You can borrow up to ₱10,000 for your phone purchase. (Note: For first-time cellphone loan takers, the initial limit may be ₱5,000, depending on your tenure, borrowing history, and your center’s guidelines.)
- Payment Terms: Repay the loan in weekly installments (weekly amortization).
- Flexible Loan Term: Borrowers can choose a repayment period from 1 to 12 months, based on personal convenience.
- Combine with Other Loans: If you already have other loans (like a Sikap-1 loan), this cellphone loan can be added on. You’ll just have one combined weekly payment for all your loans.
- Connectivity Goal: The main aim is to keep members connected through the Konek2Card app.
Repayment and Payment Options
It’s important to understand how you will be expected to repay the loan:
- Weekly Payments: The loan will be paid back in equal weekly installments.
- Loan Term Choices: You can choose to repay over 1 up to 12 months. A longer term means lower weekly payments.
- Payment Channels: You have options for making your payments:
- CARD Bank Center: Pay your weekly installment in person at the center.
- Konek2Card Agents: Use CARD Bank’s authorized agents to make payments.
- Konek2Card App: If you have the konek2CARD mobile app, you can pay right from your phone.
Note: If you took this cellphone loan along with any existing loan, you’ll make one consolidated weekly payment that covers everything.
Why Consider the CARD Bank Mobile/Cellphone Loan?
This loan program isn’t just about getting a phone. It’s about staying connected and gaining access to mobile banking and CARD’s financial services. Here are some practical reasons why members are encouraged to apply:
- To monitor and pay loans via the app
- To stay in touch with the center and Account Officer (AO)
- To help run or support a small business
- To access digital payments and transfers
- To avoid traveling long distances just to withdraw or pay
Who Can Apply?
While the product is offered to all members, not every member is automatically eligible for this cellphone loan. CARD Bank has set clear criteria for applicants to follow.
To apply for the Mobile/Cellphone Loan, you must at least meet the following criteria:
- You must be a repeat borrower (at least on your 2nd cycle of taking out a major loan product).
- At least one (1) month must have passed since your last loan was approved and released.
If you fit both conditions above, you are eligible to apply. CARD Bank’s cellphone loan is specifically an additional loan for existing borrowers, so new clients or first-time borrowers cannot apply yet. This means that this loan product is intended for members who already have some borrowing history and a reliable repayment record with CARD Bank.
Application Requirements
You don’t need to prepare many documents. You only need:
- Duly accomplished Application Form: A duly accomplished application form. This is usually in digital form and is filled out with your AO during your visit. In rare cases, you may be required to fill out a printed form instead.
- Signatures: Both you (the borrower) and your co-maker (preferably the member’s spouse) must sign the completed application form.
Note: Bring your ledger or your mobile phone (if you already have access to the konek2card app) for verification. Your assigned AO will check and help confirm all information is in order.
Step-by-Step Guide on How to Apply
Applying for the CARD Bank Inc. Mobile/Cellphone Loan is quick and straightforward. Here’s a step-by-step guide to help you:
Step 1. Visit Your CARD Bank Center
Go to the center where you’re a member and attend your scheduled meeting or appointment. Let your assigned AO know that you’re interested in applying for a Mobile/Cellphone Loan.
Step 2. Inform Your AO
Tell the AO you’re filing for a mobile/cellphone loan. You’ll be asked a few questions in a short interview—just to verify your eligibility and details.
Step 3. Fill Out the Application Form (Digitally)
The AO will complete a digital application form on your behalf. Once done, you and your co-maker must sign it.
Step 4. Wait for Loan Approval and Disbursement
Once your application is approved, you’ll receive the loan proceeds. The method and timing of disbursement depend on whether you’re using the konek2CARD app:
For konek2CARD App Users:
- Loan proceeds are released on the same day or within 2 days.
- The amount will be credited digitally to your account via the app.
For Non-konek2CARD App Users:
- Wait for 2 days, then visit your nearest CARD Bank unit.
- Withdraw the funds in person.
Once the loan is released, you can purchase your mobile phone. With your new phone, you can use the Konek2Card app to manage your account (check balances, pay bills, and more) right from your mobile device.
Frequently Asked Questions (FAQs)
For your reference, here are some common questions and answers about the product:
1. Can I apply even if I just got my Sikap-1 loan?
No. You need to wait at least one month after your Sikap-1 loan was approved and released before applying.
2. How many loans can I take out at the same time?
As a CARD Bank member, you are allowed to take a maximum of three loan products at the same time, but this will depend on your borrowing history and ability to pay. You also cannot take them out all at once, rather, each one has to be at least a month after the last one was released.
3. What if I don’t have a co-maker?
A co-maker is required. Your AO can help you understand who qualifies as a co-maker and assist in processing the form.
4. How soon can I get the phone?
Loan processing is fast, especially for konek2CARD users—as early as the same day. Otherwise, expect the proceeds in 2 days.
5. Is the phone delivered or do I buy it myself?
CARD Bank provides the loan amount; you will purchase the phone from your preferred store or supplier.
Important Reminders
Here are a few additional things you might want to keep in mind:
- Double-check the eligibility requirements before applying.
- Only borrow what you need for your phone (up to the allowed maximum).
- Choose a repayment term that fits your budget. A shorter term means finishing the loan sooner.
- If you can, use the app for faster loan release and payment convenience.
- Make sure to pay your installments promptly each week to keep a good record with CARD Bank.
- Ask about any fees or interest rates so you know the total cost of the loan.
- Make sure your existing loan is in good standing.
- Talk to your AO during your center meeting for guidance.
- Have your co-maker ready to sign when the AO processes your application.
- There is no need to submit a receipt after taking out the loan, but you are expected to start using the konek2card app, if you haven’t already.
Video: CARD Bank Inc. Loan Products
If you are a CARD Bank member who meets the eligibility criteria, the Mobile/Cellphone Loan is a great opportunity to get a smartphone with affordable payments. Simply follow the steps above to apply. If you don’t think this loan product is suitable, you may check out the other loan products they offer by watching the video below:
Need More Help?
If you have questions, ask your CARD Bank center’s assigned AO. You can also visit the CARD Bank official website or contact customer service for details.
- Contact Numbers: (0909) 233-6852 (TNT), (0998) 530-8689 (Smart), (0943) 705-2510 (Sun), (0917) 707-9819 (Globe)
- PLDT Landline: (049) 503-4156
- Smart (SMS/Text Message Only): 09610214271
- Facebook Messenger (For Chat Only): CSR CARD Bank
- Email: cardbankcsr@cardmri.com