Bank of Communications in the Philippines

Philippine Bank of Communications offers a broad suite of financial solutions ranging from Deposits and Corporate, Commercial and Personal Loans, to Cash Management Solutions and Investment Services. Founded in 1939, PBCOM has its roots in Binondo, Manila and now has 89 branches located across Luzon, Visayas and Mindanao. The entry of Mr. Lucio Co as […]

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Philippine Bank of Communications https://upfinance.com/app/uploads/2019/12/cl572c4c4br151.png
LKG Tower, Ayala Avenue, Makati City, Metro Manila
(+632) 8777-2266 ,
Interest rate 0.66% - 3%
Loan tenure from 3 to 240 months
Approval duration Up to 120 hours
Min. monthly income

Head Office

LKG Tower, Ayala Avenue, Makati City, Metro Manila

Product Features

Min. financing amount ₱ 40000
Max.financing amount ₱ 20000000
Min. loan tenure 3 months
Max. loan tenure 240 months

Credit

Home loan

Interest Rates: From 8% APR
Minimum loan amount: 500 000 PHP
Maximum loan amount: 20 000 000 PHP
Payment terms: Up to 20 years
Total gross monthly family income (minimum): 50 000 PHP
Processing fee: 5 000 PHP
Approval time: 5- 21 banking days

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Car loan

Interest Rates: From 12% APR
Minimum loan amount: 200 000 PHP
Maximum loan amount: 10 000 000 PHP
Payment terms: Up to 60 months
Maximum car age: For second hand, the age of vehicle + loan tenor should not exceed 11 years
Approval time: 1-3 banking days
Down payment: As low as 20% of purchase price
Auto loan’s upfront appraisal fee: 1 500 PHP for used vehicle

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Personal loan

Interest Rates:  From 1.68% per month
Minimum loan amount: 40 000 PHP
Maximum loan amount: 2 000 000 PHP
Payment terms: From 12 to 36 months
Approval time: within 5 banking days

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Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Borrower requirements

Eligibility:
– At least 21 years old at the time of application but not more than 65 years old upon loan maturity
– Payment ledger/Purchase Information Sheet/Contract to Sell
– Completely filled-out application form
– Two valid IDs of borrower & co-maker / Attorney-in-fact
– Marriage contract (if applicable)
– Income documents
Employed (Local)
– Certificate of employment payslips/Income Tax Return
Employed (OFW)
– Certificate of employment / payslips / Latest proof of remittances
Self-Employed
– Trade References – please ensure business name is provided
– Latest 3 months Bank Statement
– Latest Income Tax Return w/ Audited Financial Statements

Business loan

Working capital loan

Interest Rates: From 1.85% per month
Minimum loan amount: 500 000 PHP
Maximum loan amount: 5 000 000 PHP
Payment terms: Up to 1 year
Approval time: 5 banking days

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Eligibility requirements

Eligibility: 
– SEC Registration and Articles of Incorporation/Partnerships and Amendments
– By-Laws of Corporation/Partnership
– DTI Certificate of Registration
– Company Profile
– GIS (General Information Sheet)
– ITR/FS for the past 3 years
– List of major customers and suppliers (with contact details)

Deposited

Product Name Initial Deposit / Minimum Monthly ADB Requirement Minimum Monthly ADB to Earn Interest Interest Rate
Quick Cash Account PHP 1,000 PHP 25,000* 0.100%*
Regular Savings Account PHP 5,000 PHP 10,000* 0.100%*
Regular Checking Account
Individual
Corporate
PHP 5,000
PHP 10,000
N/A
N/A
N/A
N/A
Value Check Account
Individual
Corporate
PHP 10,000
PHP 15,000
PHP 25,000
PHP 25,000
0.100%
0.100%
IntegrALL
Individual
Corporate
PHP 15,000
PHP 25,000
50,000
50,000
PHP 50,000 < PHP 1M: 0.100%
PHP 1M < PHP 5M: 0.125%
PHP 5M < PHP 10M: 0.250%
PHP 10M and up: 0.500%

FAQ

The longest loan period is 20 years.

Since this type of loan is associated with large amounts of money and a large volume of documents, the term for making a decision by the Bank depends on two stages of verification. First, the Bank will check your solvency, this stage takes no more than 5 working days on average. Then the Bank will need to check the documents for the land or property you are buying, as well as make an assessment of it.

There is no single solution. If you need the lowest monthly payment, then take loan for the maximum possible period. If you are not sure that you will have a consistently high income, then take as little time as possible.

The minimum down payment for a new car is 20% of purchase price, for a used car – 30% of purchase price.

Payment terms for Brand New cars – up to 60 months.
Payment terms for Used cars – up to 48 months.

No, the car is your property from the moment of purchase, but remains the bank’s guarantee for the loan period. This means that you cannot sell the car, and you also have to pay for car insurance so that the bank can receive its money in any case.

Documents confirming income and identification are the main requirements for obtaining a car loan.
Application form with filled in fields.
Copy of Passport or any ID ( SSS ID, Driver’s License, Voter’s ID)
Working borrowers must submit documents: certificates from the place of work or COE, a copy of payslip for 2 months, income tax return from BIR or ITR within 1 year.
Self-employed applicants must submit documents: a copy of the ITR with THE bir stamp , a copy of registration with the DTI or SEC, and a copy of financial statements for a period of at least 2 years .
After buying a car, you need to pay for insurance.

Initial registration is usually done by agents, so you get a copy of OR / CR. You must remember that the initial registration is valid for 3 years, so after that you need to renew it annually in LTO.

On average, initial approval of a Personal credit application can be done from 10 minutes to 1 day, depending on the bank. Final approval takes on average from 24 hours to 5 days. You just need to make sure your documents are completed when you submit them.

Credit funds can be issued immediately after the application is approved or 1-3 banking days after a successful phone check.

You do not require any collateral or guarantor to apply for a Personal loan.

Contacts

Full company name Philippine Bank of Communications
Address LKG Tower, Ayala Avenue, Makati City, Metro Manila
Phone number (+632) 8777-2266
E-mail
Social networks

Philippine Bank of Communications offers a broad suite of financial solutions ranging from Deposits and Corporate, Commercial and Personal Loans, to Cash Management Solutions and Investment Services. Founded in 1939, PBCOM has its roots in Binondo, Manila and now has 89 branches located across Luzon, Visayas and Mindanao.
The entry of Mr. Lucio Co as the Bank’s strategic investor in 2014 has put PBCOM in a unique position for growth, leveraging on the ecosystem of the Puregold Group. The Bank is focused on building its capabilities in order to serve the banking needs of the group’s suppliers, trade partners, service providers and loyal customers.

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