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Philippine Business Bank

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About bank

The Philippines Business Bank is a financial institution founded in the Philippines in 1997. It involves local and international trade, cash transactions, treasury management, and investments.

Features

PBB was granted the authority to operate as a thrift bank on January 8, 1997. It was incorporated as Total Savings Bank and registered with the SEC on January 28, 1997.

It got a Certificate of Authority from the BSP on February 6, 1997. The same year, it applied for a corporate name change to Philippines Business Bank and got approval from the SEC on December 16, 1997. The change of the bank's corporate name was to reflect the direction it intended to go.

Today, PBB is focused on providing financial services to corporations and SMEs in the country and internationally. The bank has more than 160 branches in the country, with most of them located in areas concentrated with SMEs like Navotas, Malabon, and Quezon City. Other departments can be found in highly urbanized areas like Davao and Cebu. Its headquarters are in Caloocan.

Pros and cons

PBB offers many services, including savings, business, and corporate lending. Some pros and cons are associated with the loans part of their business.

Pros

  • There are 160 branches available, which brings the bank closer to businesses.

  • Their loan approval process is quick.

  • They have a low-interest rate and flexible payment terms.

  • Several loan options are designed to serve customers with different needs.

Cons

  • A lot of documentation is needed for applying for business and housing loans.

  • Some of their loan products have very short loan terms.

Products

Loans

The loans offered by PBB are classified into two broad categories:

  • Consumer loans

  • Commercial, industrialб and developmental loans.

Consumer loan

These are loans given to creditors to finance specific expenditures. PBB offers three types of consumer loans. These are auto loans, salary loans, and housing loans. The main requirements include government-issued IDs, income tax returns, and other income documents.

Commercial, industrial, and developmental loans

These loans involve more significant sums of money and usually longer terms. PBB's loans in this category include bills purchase, trade finance, term loans, agricultural loans, and specialized lending facilities for SMEs. Others are: inventory financing and Contract to Sell financing facilities.

Savings

PBB also offers savings services. The services include:

  • Regular savings. The minimum deposit in a standard savings account is ₱2,000 and requires a ₱2,000 minimum maintenance balance to earn interest.

  • Time deposit. This requires a minimum deposit of ₱1,000 with no minimum maintenance balance. The interest is pre-determined based on the amount and term of placement.

  • Checking (current) account. The minimum deposit for this account is ₱4,000 for individuals and ₱10,000 for corporate organizations. The above figures also represent the minimum maintenance balance required for interests.

Other services

The bank offers other services like remittance, local payment orders, foreign drafts, SSS payments, safety deposit box facilities, and trust products.

PBB

FAQ

What is the Philippines Business Bank(PBB)?

Philippines Business Bank is a financial institution with 160 branches and its headquarters in Caloocan. They provide individual, trade, and corporate financial services, which include savings and loans.

Who owns PBB?

The bank is a privately held organization controlled by its board of directors, and Alfredo M. Yao is its current chairman.

How do you qualify for PBB?

The bank offers different lending products, and there are additional criteria to qualify depending on your requirements. The basic requirements to qualify for a loan include the following. The applicant must be a Filipino citizen at least 21 years old at the time of borrowing. They should have a stable source of income, either through employment or business. They should be able to provide required income proofs like an ITR, bank statement, etc. Apart from this, other special requirements vary based on the loan you apply for.

Is PBB a legitimate company?

Yes, it was incorporated in 1997 and registered with the SEC in the same year.

What is the maximum consumer loan amount at PBB?

The bank has not revealed the exact limit, but it will depend on the applicant’s income and credit history.

What are the requirements for consumer loans at PBB?

To apply for a loan, the applicant must have a verified source of income. If the applicant is employed, they should provide a certificate of employment, three-month pay slip, and income tax return. If the borrower is self-employed, the latest six months bank statement and latest DTI with the mayor's permit will be required.

What is the most extended consumer loan term at PBB?

The loan term ranges from 1 year to 20 years.

Company documents

Privacy Policy

By making things happen today, Philippine Business Bank will help build strong business communities where people can achieve their dreams.

 

© Philippine Business Bank

Financial products

Philippine Business Bank
Checking (current) account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱4,000
Philippine Business Bank
Time deposit
Rating by Finanso®
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from ₱1,000
Philippine Business Bank
Regular savings
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱2,000
Rate
i

Effective interest rate on the product

0.125% per annim
Philippine Business Bank
Consumer loan
Rating by Finanso®
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Philippine Business Bank
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All Philippine Business Bank’s reviews by december 2022
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