PSBank in the Philippines

PSBank has gone a long way from its humble beginnings as a neighborhood bank since it first opened its doors to its clients on September 26, 1960. Its head office was located at Plaza Miranda, Quiapo, Manila, then the heart of the country’s commercial and business district, while its first four branches were in Divisoria, […]

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Philippine Savings Bank https://upfinance.com/app/uploads/2019/10/psbank-logo.png
G/F PSBank Center, 777 Paseo de Roxas corner Sedeno Street, Makati
Customer Hotline (632) 8845-8888 GLOBE: (63917) 838-9656 SMART: (63928) 524-0406, customerexperience@psbank.com.ph
Interest rate 0.4% - 2.5%
Loan tenure from 1 to 300 months
Approval duration Up to 24 hours
Min. monthly income

Head Office

G/F PSBank Center, 777 Paseo de Roxas corner Sedeno Street, Makati

Product Features

Min. financing amount ₱ 20000
Max.financing amount ₱ 5000000
Min. loan tenure 1 months
Max. loan tenure 300 months

Credit

Home loan

Interest Rates: 

months 1 2 3 5 10 15 25
rates APR 6,25% 6,75% 7% 7,5% 9% 9,75% 10,25%

Maximum loan amount: Up to 80% of assessed value
Payment terms: Up to 25 years
Total gross monthly income (minimum): 50,000 PHP
Approval time: 1-5 banking days

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Auto loan add-on

Interest Rates: 

months 12 18 24 36 48 60
rates APR 5,58 7,36% 10,17% 15,96% 21,95% 27,7%

Terms: From 12 to 60 months
Approval time: 1 banking day
Down payment: As low as 20% of purchase price

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Flexi Personal loan

Interest Rates: 2.5% per month
Minimum loan amount: 20 000 PHP
Maximum loan amount: 250 000 PHP
Payment terms: 24-36 months
Approval time: 1 banking day

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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
– Must be a Filipino Citizen
– Must have an office or residence landline
For employed applicants:
– Certificate of Employment
– Income Tax Return (ITR)
– Copy of valid IDs (government-issued with photo and signature)
For self-employed applicants:
– Business Registration
– Corporate Papers
– Financial Statements
– Income Tax Return (ITR)
– Copy of valid IDs (government-issued with photo and signature)
For corporate applicants:
– Completely filled-out PSBank Auto Loan Application Form
– Business Registration
– Corporate Papers
– Financial Statements
– Income Tax Return (ITR)
– Copy of valid IDs of authorized signatories

Business loan

SME Term Loan with Prime Rebate

Interest Rates: 2.5% monthly interest rate for the Revolving Loan
1.75% monthly add-on-rate for Term Loan
Minimum loan amount: 2 000 000 PHP if collateral is real estate property
500 000 PHP if against deposits
Payment terms: 1-7 years
Approval time: 20 banking days

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Commercial Loan

Interest Rates:  8% APR
Minimum loan amount: 2 000 000 PHP if collateral is real estate property
500 000 PHP if against deposits
Payment terms: 1-12 months
Approval time: 20 banking days

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Deposited

PSBank 5-Year Time Deposit
PSBank FCDU Time Deposit
PSBank Peso Time Deposit
PSBank Premium Checking
PSBank Savings Deposit

FAQ

The longest loan period is 25 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.

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 Flexi 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.
Do I need a guarantor or collateral for Personal loan?
You do not require any collateral or guarantor to apply for a Personal loan.

Contacts

Full company name Philippine Savings Bank
Address G/F PSBank Center, 777 Paseo de Roxas corner Sedeno Street, Makati
Phone number Customer Hotline (632) 8845-8888 GLOBE: (63917) 838-9656 SMART: (63928) 524-0406
E-mail customerexperience@psbank.com.ph
Social networks

PSBank has gone a long way from its humble beginnings as a neighborhood bank since it first opened its doors to its clients on September 26, 1960. Its head office was located at Plaza Miranda, Quiapo, Manila, then the heart of the country’s commercial and business district, while its first four branches were in Divisoria, Carriedo, Blumentritt and C. M. Recto.

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