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Philippine Veterans Bank

Advertiser Disclosure

About bank

Philippine Veterans Bank, also known as PVB and Veterans Bank, is a commercial bank in the Philippines. The bank is owned by Philippine World War II veterans and their families. It caters to both corporate and retail financial markets. As part of its charter, PVB allocates 20% of its annual net income for the benefit of its shareholders.

On June 18, 1963, the Philippine Veterans Bank was first created with the enactment of Republic Act No. 3518, which became its charter. On May 6, 1992, the Central Bank of the Philippines granted PVB the authority to operate as a private commercial bank. The bank aims to provide relevant financial products and quality services for the benefit of their stakeholders, the Philippine veterans and their families, the military, other uniformed services, and identified market niches in the public and private sectors.

Personal banking offers deposits, loans, treasuries, trust and investment, and pension express services. Corporate banking provides corporate deposits, cash management, corporate and public loans, trust, and investment.

Pros and cons

Understanding a bank’s pros and cons is of equal importance. Many people get trapped by watching attractive advertisements, but they must also look at all aspects before opting for a loan.

Pros

  • The bank offers multiple loan products designed specifically to meet the requirements of borrowers.
  • The bank has over 60 branches all over the country, with over 130 ATMs facilitating its customers.
  • The branches have been equipped with modern technology offering high-tech services, which save the customers’ time.

Cons

  • The bank doesn’t have a fixed upper cap for interest rates.
  • The bank is said to charge higher interest rates when compared with other competitors.

Loan conditions

To be eligible for the loan, one should be at least 21 years old but not more than 65 years old upon loan maturity. The applicant must be a Filipino citizen and have an office or residence landline number. If the applicant is self-employed, they must have at least two years of profitable operations in the same line of business.

Loans types

Philippine Veteran bank offers products such as pension loans, home loans, salary loans, and MSME loans to cater to the needs of the people of the Philippines.

Housing loan

PVB offers housing loans for house construction, purchase of a house, townhouse, condominium, or lot. Borrowers can also use it for home improvement or refinancing existing housing loans. The loan amount bank offers a minimum of ₱375,000, up to a maximum of 80% of the appraised value of the collateral or up to 60% on vacant lots.

Salary loan

Salary loans are provided For qualified elected officials and employees of accredited LGU/GOCC/NGA and regular/permanent employees of an accredited private institution/company. PVB offers a salary loan of a minimum of ₱10,000 with a maximum tenure of 36 months.

Pension loan

PVO offers this loan to PVAO pensioners (WW2, Post-WW2, AFP retirees aged 65 y.o & up) and for parents ands surviving spouses of deceased PVAO pensioners. The maximum loanable amount for a pension loan is up to ₱200,000 (depending on age, loan tenor, and other conditions) with flexible terms (up to five years).

MSME loan

PVB’s MSME loan program aims to address entrepreneurs' needs that have remained unbanked or have limited exposure to commercial bank products. MSME loan products include short-term loans, revolving promissory note lines, back-to-back loans, domestic bill purchase lines, trade checks, export bills purchase bars, import/domestic LC/TR, and standby letters of credit.

Philippine Veterans Bank

FAQ

What is the Philippine Veterans Bank?

Philippine Veterans Bank, also known as PVB and Veterans Bank, is a commercial bank in the Philippines. It offers products such as pension loans, home loans, salary loans, and MSME loans to cater to the needs of the people of the Philippines.

Who owns Philippine Veterans Bank?

The bank is owned by Philippine World War II veterans and their families and caters to corporate and retail financial markets. As part of its charter, PVB allocates 20% of its annual net income for the benefit of its shareholders.

How do you qualify for Philippine Veterans Bank?

To be eligible for the loan, one should be at least 21 years old but not more than 65 years old upon loan maturity. The applicant must be a Filipino citizen and have an office or residence landline number.

Is Philippine Veterans Bank a legitimate company?

Yes, it is a legit company. It is regulated by the Bangko Sentral ng Pilipinas and member of Bancnet.

What are the minimum and maximum amounts for MSME loans?

The amount varies depending on the applicant and their creditworthiness. The final loan amount depends on the submitted documents and the performance of your business.

What is the maximum amount you can apply for in a housing loan?

The maximum amount you can apply for is 80% of the appraised value of the collateral and 60% on the vacant plots.

What is the longest home loan term?

The longest home loan term is 20 years.

What is the duration of home loan processing?

As per the data present on the official website, the bank takes around 5 to 21 banking days to approve any loan.

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

If you don’t have a problem selecting a short-term loan, it will be a more profitable deal. However, if you want a more flexible repayment schedule, it is advisable to pick the most extended term possible and keep your EMI low.

Financial products

Philippine Veterans Bank
MSME 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
Term
i

Loan term for the financial product

up to 12 months
Philippine Veterans Bank
Pension loan
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.

Recommended FinScore™
0
300
650
1000
up to ₱200,000
Rate
i

Effective interest rate on the product

from 0.02% per day
Term
i

Loan term for the financial product

up to 60 months
Philippine Veterans Bank
Salary 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
from ₱10,000
Term
i

Loan term for the financial product

up to 36 months
Philippine Veterans Bank
Housing loan
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.

Recommended FinScore™
0
300
650
1000
from ₱375,000
Rate
i

Effective interest rate on the product

5.75% - 10.88% per year
Term
i

Loan term for the financial product

up to 20 years
Philippine Veterans Bank
Regular Time Deposit
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.

up to ₱5,000
Term
i

Loan term for the financial product

up to 12 months
Philippine Veterans Bank
Checking Account
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.

from ₱5,000
Rate
i

Effective interest rate on the product

0.100%p.a
Philippine Veterans Bank
Savings Account
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.

from ₱10,000
Rate
i

Effective interest rate on the product

0.100% p.a
Philippine Veterans Bank
Public Sector Loans
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
Term
i

Loan term for the financial product

up to 10 years
Philippine Veterans Bank
Corporate Loans
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.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 10 years
Philippine Veterans Bank
Corporate Deposit Products
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.

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All Philippine Veterans Bank’s reviews by december 2022
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