Why Was My Colleague Approved With Higher Credit Limit Even If We Were Receiving the Same Salary?

Written By Security Bank ()

Updated at September 8th, 2020

The assigned credit limit is based on the average net salary credited to the payroll account for the past 6 months but the loanable amount is still subject to “debt-burden ratio of 50%”. This means that your amortization, which refer to your monthly payment, should be at most 50% of your total monthly net salary credit LESS any amortization payments for other loans with SBC (where applicable).