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PBCOM

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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 peopPBCOM

FAQ

What is PBCOM?

Philippine Bank of Communications ( PBCOM) is one of the Philippines’ leading commercial banks. PBCOM has approximately 80 locations around the nation and provides a wide range of consumer and business banking services, including deposits, investment services, loans, and trade finance.

Who owns PBCOM?

The SEC authorized PBCOM’s quasi-reorganization. During the regular board meeting, Eric O. Recto was elected chairman of the bank. Nina D. Aguas became President and CEO of PBCOM in August 2012.

How do you qualify for PBCOM?

To be eligible for PBCOM, You must be at least 21 years old and no more than 65 years old at the time of loan maturity, a Filipino citizen or foreign national permanently residing within PBCOM service regions, and a primary holder of a valid, locally issued credit card with a minimum credit limit of ₱30,000 for at least 12 months.

How much can you borrow from PBCOM?

The lowest loanable amount for a personal loan is ₱40,000, and the highest is ₱1,000,000, which makes PBCOM’s loan suitable for a wide range of personal financial requirements.

Is PBCOM a legitimate company?

The SEC approved the quasi-reorganization of PBCOM. Ralph Nubla and his associates purchased most of BCOM’s outstanding capital shares, placing the bank under Filipino ownership. The Wolfsberg Group and the US Patriot Act have also certified PBCOM.

What is the minimum down payment for a car loan?

The minimum down payment for a car loan in PBCOM is 15% of your car’s actual value.

For what period can I take out an auto loan?

The applicant can take out an auto loan of up to 60 months.

Is the car owned by the bank for the loan period?

Yes, if you opt for a car loan, the temporary ownership is given to the bank.

Can I take out an auto loan to a used car?

Yes, PBCOM also offers you a loan for the purchase of a used car.

What are the requirements for auto loans?

Salaried individuals have to fill out a signed application form. They have to submit their certificate of employment with compensation and also a valid government-issued ID with photo and signature. OFWs have to submit an employment contract and/or certificate of employment along with proof of remittance for the last three months. Self-employed individuals are required to submit the following documents; photocopy of business registration, list of three clients and/or suppliers with contact details, latest ITR, audited financial statements, and bank statement for the last three months, a valid government-issued id with photo and signature.

What is the longest home loan term?

The longest home loan term offered by PBCOM is 20 years.

What is the duration of home loan processing?

After the loan application is submitted, PBCOM generally takes around 2-3 days to reach back to the applicants, after which the verification process begins and the duration for this depends on the presented documents by the applicant.

What is more profitable, a long home loan term or a short one?

According to statistics, short term loans are more profitable because they offer lower interest rates. But in terms of flexibility, long term loans are much better.

Financial products

PBCOM
Personal Loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
₱40,000-₱1,000,000
Rate
i

Effective interest rate on the product

up to 1.63% per month
Term
i

Loan term for the financial product

up to 36 months
PBCOM
Auto Loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
₱200,000-₱10,000,000
Term
i

Loan term for the financial product

up to 60 months
PBCOM
Home Loan
Rating by Finanso®
i

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.

Recommended FinScore™
0
300
650
1000
₱500,000-₱20,000,000
Term
i

Loan term for the financial product

up to 20 years

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All PBCOM’s reviews by december 2022
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