About bank
Philippine Bank of Communications (PBCOM) provides a comprehensive range of financial services, including deposits and corporate, commercial, and personal loans and cash management solutions and investment services. PBCOM was founded in 1939 in Binondo, Manila, and presently has 93 branches throughout Luzon, Visayas, and Mindanao.
Philippine Bank of Communications offers clients the required financial assistance to enable their business to thrive. Mr. Lucio Co is the strategic investor who has helped the bank expand and establish itself in the business sector. He took up the post in 2014, and the board members can speak to his success in developing the company.
PBCOM bank is primarily concerned with trade partners, supplier groupings, and service providers. The bank continues to expand and enter new areas to increase its market share. The company also employs cutting-edge technologies to enhance the customer experience.
Pros and cons
Before taking any major financial decision, one should be aware of all the advantages and disadvantages of the loaning company. However, before borrowing money online, it is critical to educate yourself on its benefits and drawbacks.
Pros
It allows corporate users to efficiently manage any liquidity, collecting, or disbursement tasks, even if they are allocated to separate physical locations.
It offers improved cash flow management.
It allows non-core company tasks (such as check preparation and issuance) to be outsourced without jeopardizing security and control.
It offers increased production and lower costs.
Cons
Loans are not particularly adaptable.
If you repay the loan before the loan period, there is a fee.
Loan conditions
Personal loans from PBCOM enable you to borrow up to ₱1,000,000 for any personal expenditures. Learn more about various loans and their characteristics. If you apply for a personal loan from PBCOM, you can expect many benefits. The lowest loanable amount is ₱40,000, and the highest is ₱1,000,000, making PBCOM’s loan suitable for a wide range of personal financial requirements. The company also offers flexible loan terms, and the borrower can pay it back in 12, 18, 24, 36, or 48 months. According to the company, loan applications are usually accepted in three to five business days.
Types of Loans
The company offers multiple loans for individuals with different requirements, including the following:
Home loan
PBCOM house loans are available to applicants aged 21 to 65 (the applicant must not be older than 65 at loan maturity), Filipino citizens, foreign-based Filipinos, or foreign citizens resident in the Philippines. Individuals should be salaried or self-employed and have a minimum gross monthly family income of ₱50,000.
Auto loan
To apply for this loan, the applicants must be 21 to 65 years old (applicant must not be more than 65 years old at loan maturity). They must be Filipino citizens, foreign-based Filipinos, or foreign citizens resident in the Philippines. The applicants must be salaried or self-employed, with a minimum gross monthly family income of ₱40,000 (for the purchase of a brand-new car) and a minimum gross monthly family income of ₱50,000 (for the purchase of a used vehicle).
Personal loan
PBCOM personal loans are available for applicants between 21 to 65 years old (applicants must not be more than 65 years old at loan maturity). They must be Filipino citizens, foreign-based Filipinos, or foreign citizens resident in the Philippines. The applicants must be salaried or self-employed, with a monthly minimum salary of ₱35,000 for salaried and self-employed peop
