Producers Savings Bank Corporation in the Philippines

Our mission: Provide responsive and innovative credit and other services needed by farmers, micro and small and medium-sized businesses. Providing our customers with value-added products and better service. Compliance with the requirements of our laws and regulations. To make our stakeholders very proud of our contributions to economic development in the Philippine countryside.

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Producers Savings Bank Corporation https://upfinance.com/app/uploads/2019/11/logo-go.jpg
1706 AIC Burgundy Empire Tower, ADB Avenue corner Sapphire St., Ortigas Center, Pasig City
Contact: (02) 570-4137 Fax: (02) 654-4953, andres.cornejo@producersbank.com.ph; chairman@producersbank.com.ph
Interest rate 0.54% - 2%
Loan tenure from 12 to 180 months
Approval duration Up to 72 hours
Min. monthly income

Head Office

1706 AIC Burgundy Empire Tower, ADB Avenue corner Sapphire St., Ortigas Center, Pasig City

Product Features

Min. financing amount ₱ 25000
Max.financing amount ₱ 2000000
Min. loan tenure 12 months
Max. loan tenure 180 months

Credit

Housing loan

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Interest Rates: 11% – 12% APR
Minimum loan amount: 1 000 000 PHP
Maximum loan amount: Up to 70% of assessed value
Payment terms: Up to 15 years
Approval time: 5-7 banking days

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Car loan

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Interest Rates: 6.5% – 9% APR
Loan amount: Brand new: up to 70% of purchase price
Second hand*: up to 50% of appraised value
Payment terms: Brand New: 12 to 60 months
Second hand*: 12 to 24 months
Approval time: 3-5 banking day
Down payment: As low as 30% of purchase price
*Second hand: Not more than 3 years old

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Truck loan

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Interest Rates:  9% APR
ADB: equivalent to 2 installments
Payment terms: Up to 5 years
Down payment: minimum 30% of purchase price
Bank lending comission: 3%
Approval time: 3-5 banking days

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LGU Salary Loan

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Interest Rates:  9% APR
Minimum loan amount: 1 000 PHP
Maximum loan amount: 500 000 PHP
Bank lending comission: 3%
Approval time: 1 – 3 banking days

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Teachers Salary Loan

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Interest Rates:  1 year 7.50%; 2 years 9%; 3 years 9.66%
Minimum loan amount: 1 000 PHP
Maximum loan amount: 500 000 PHP
Bank lending comission: 6%
Approval time: 1 – 3 banking days

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SME Loan

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Interest Rates: 12% payable in arrears
14% payable in arrears based on diminishing principal balances
Minimum loan amount: 1 000 000 PHP
Payment terms: Up 36 months
Approval time: 7 – 21 banking days
Credit amount:

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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
Сitizenship:
– Must be a Filipino Citizen
If Employed:
– Minimum gross monthly income – 15 000 PHP
If Self-employed:
– With at least two (2) continuous years of profitable operations in the same line of business
– Minimum gross monthly income – 30 000 PHP

FAQ

The longest loan period is 15 years.

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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.

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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.

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The minimum down payment for a new car is 30% of purchase price, for a used car – 50% of purchase price.

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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.

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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.

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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.

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Truck loan is provided for the purchase of a new truck – a 4, 6 or 10-wheel car.

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Maximum loan amount up to 70% of assessed value.

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Yes, the car remains pledged to the bank until the loan is repaid. In addition, you will be required to annually insure your car in case of breakdown or accident.

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Contacts

Full company name Producers Savings Bank Corporation
Address 1706 AIC Burgundy Empire Tower, ADB Avenue corner Sapphire St., Ortigas Center, Pasig City
Phone number Contact: (02) 570-4137 Fax: (02) 654-4953
E-mail andres.cornejo@producersbank.com.ph; chairman@producersbank.com.ph
Social networks

Our mission:
Provide responsive and innovative credit and other services needed by farmers, micro and small and medium-sized businesses.
Providing our customers with value-added products and better service. Compliance with the requirements of our laws and regulations.
To make our stakeholders very proud of our contributions to economic development in the Philippine countryside.

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