PSBank home loan for june 2023

The PSBank home loan allows you to become a homeowner sooner than you would have imagined.

Types of PSBank home loan

The bank offers three different home loan options, they are shown below:

• PSBank Home Loan with Prime Rebate. The PSBank home loan with prime rebate makes house ownership more enjoyable. The bank provides quicker loan approval, more easy home loan conditions, and excellent incentives. If you want to buy a home and lot, a townhouse, a condominium unit, a residential lot, or build your own residence, they can help you make your goal a reality. If you're stuck with exorbitant interest rates from your existing bank or developer, you can get out by switching your house loan to PSBank as well. So, whatever your housing loan requirements are, PSBank house loan with prime rebate may better serve you than some other bank.
• Home Credit Line. You may increase the value of your property by using it as collateral to finance home renovations or refinancing your debts. You'll obtain a continuous credit line, with low interest rates, adjustable terms, and simple payment options with a PSBank home credit line. It is also simple to apply for the loan. Simply complete the application form and email it to them. Within five days, you will get a credit verdict through SMS. The lowest loan amount is ₱500,000, while the highest loan amount is ₱5,000,000. You can get a loan of up to 70% of the appraised value of a home and lot or condominium, or 60% of the appraised value of an apartment, duplex, or empty lot, but not more than ₱5,000,000, is available.
• Home Construction Loan. This PSBank home construction loan can help you build or renovate your new house. This loan provides a revolving credit line, customizable terms, the option of deferring the principal payment for the first year, and interest savings. The bank also provides simple payment options, such as ATMs, in-person at any PSBank location, and auto debit arrangements. The loan amount ranges from ₱500,000 to 80% of the project's assessed value.

How to apply for PSBank home loans?

Carefully follow the instructions below to successfully apply for this loan:

1. Visit the PSBank official website.

2. Highlight your mouse through Loans and then select Home.

3. Go down and check under PSBank Online Loan Application, select Home loan, and click on Apply now.

4. Input your contact details and your preferred appointment date and time. Click on Submit when done. You have successfully booked a home loan appointment with the PSBank customer care.

5. Visit the bank premises on the designated date with all the needed documents to complete your application.

Requirements

Below are some of the eligibility and documentary documents needed before you can apply for the PSBank home loan:

• Fully completed PSBank home loan application form.
• Non-refundable appraisal costs, which must be paid in cash or by cheque made payable to Philippine Savings Bank.
• Photocopy of transfer/condominium title certificate.
• Valid picture IDs with signatures.
• Copy of court judgement on annulment and certification of decision's finality (if annulled).
• Copy of legal separation court judgement and certification of finality of judgment (if legally separated).

For employed borrowers

• Must have employment certification.
• Must have an ITR.

For self-employed borrowers

• Must have their company registration certificates.
• Must have financial reports.
• Must have ITR.

For corporate borrowers

• Must have the company registration certificates.
• Must have a corporate document.
• Must have ITR.

Additional refinancing requirements

• Proof of amortization payment for the previous three months.
• Mortgage's most recent statement of account.

Additional building finance requirements

• Building and floor plans.
• Construction specifications.
• Materials list.
• Building and labor cost estimates.

Pros and cons

It is necessary to take note of these honest pros and cons before going ahead to apply for a PSBank home loan.

Pros

• The loan application is very fast.
• The bank offers guaranteed protection against volatility during the loan's interest-fixing term

Cons

• The loan application is fully done offline.
• The bank will investigate your credit history before looking into your application.

How to repay the PSBank home loan?

The loan could be repaid through several ways, and one of them is online payment using your enrolled deposit account through PSBank online and PSBank mobile. Follow the below steps:

1. Open your PSBank mobile app and login to your PSBank account.

2. Tap on Loans and select your loan type.

3. Input the amount you want to pay and tap on Submit.

4. Your payment will be updated immediately.