OFWs work hard to earn their much-needed savings because not all of them become millionaires overnight. But what if an emergency, calamity, or accident strikes? You need to have access to resources, such as the PSBank OFW loan, which can come in the form of quick cash, payment coverage for other expenses, such as your child’s education, hospitalization bills, or even payment for other investments.
So, it’s important to look around for loan programs and compare what each bank has. This way, you can get the most from each bank. Also, you’ll find something that fits your goals and needs. This is very important because if you don’t understand the terms and features of a loan program, it could hurt your credit score, which could make it more difficult to get money from the same or even other banks in the future.
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A PSBank OFW loan can be used to pay for a wide range of things, including credit card payments and medical costs, according to the terms of the loan.
Since it first opened its doors in 1960, PSBank has gone from being a small bank to being a full-service financial company. It had its main office in Manila, which was then the center of the city. It opened its first four branches in places like Carriedo, Divisoria, Blumentritt, and C. M. Recto. This is how getting a PSBank OFW loan works:
Here are some of the reasons to get a personal loan from PSBank Bank:
Although it doesn’t have the biggest presence in the Philippines, PSBank is a reputable bank that can provide various financial services. In this guide, we will walk you through the various PSBank OFW loan products you can avail of even while abroad.
If you need a loan for various purposes, the PSBank OFW loan is a smart choice. An online application for an PSBank Personal Loan is available, and it is a quick and convenient way to receive cash. The PSBank Personal Loan can be used in a variety of different situations.
Another beneficial PSBank OFW loan product under the personal loan category is the PSBank Flexi Personal Loan with Prime Rebate. You don’t have to put up any kind of collateral to get this type of personal loan. It has both an open credit line and an agreed-upon length of time for repayment. When you get money, you don’t pay it back at the same time every month. This is called “revolving credit.” The amount you can borrow changes or stays the same depending on how much you have paid back.
Maximum of PhP250,000
For fixed-term loan transactions, the borrower pays a fixed amount over a certain period
The minimum amount must be paid on or before the payment due date to avoid any penalty. To arrive at your minimum amount due, please add the following:
Finance, late charges, other fees and total installment amortizations will only be deducted from the available credit line on the payment due date.
Term Loan:
Effective Interest Rate P.A. of 42.88% for 24 months
Effective Interest Rate P.A. of 41.29% for 36 months
Revolving Loan:
Effective Interest Rate P.A. of 34.49% for 12 months
PSBank Prime Rebate
Customers can get rebates or savings if they make extra or early payments on their PSBank Flexi Personal Loan.
The rebate is automatically added to all term loans that are new or already in place. Getting the rebate doesn’t make the customer sign up or sign up for anything at all.
Rebates earned from making early or extra payments are calculated every day, even on weekends and holidays. They are credited to your account on each due date.
Rebate is only for extra or early payments on the total term loan amortization.
Prime Rebate is not valid for loans under a zero-interest rate promotion or program.
How does the PSBank Prime Rebate work?
Make an Advance Payment: In this example, if you pay five (5) days before your loan’s due date, you will actually get a rebate on a daily basis.
Make an Excess Payment: As long as you pay more than the amount you need on your due date, you will get a rebate every day until your next due date.
Personal loans from PSBank have a lot of advantages that make them good options to think about. List some of the things you can use.
Here are the most important things you need to know about PSBank OFW Loan – Personal Loans:
Minimum loan amount: Php 20,000
Maximum loan amount: Php 250,000
Payment Tenor: start from 24 months up to 36 months
1. What’s my PSBank Flexi Loan application’s turnaround time?
A decision could be made in three days, but it could take longer. Call the PSBank Business Center at (+632) 7944-1590 for more information about your Flexi Loan application.
2. Does the PSBank Flexi Loan have additional charges?
You’ll also have to pay for the following things:
Handling fee: PHP 1,500 or 1% of the approved credit line, whichever is higher
ATM service fee: This will depend on which bank you use. But for PSBank, you can check your balance for free, but you have to pay 20 pesos to get money out of your account.
Credit line renewal fee: Every year, or when you renew your PSBank Flexi Loan, you will be charged a fixed amount of PHP 1,500.
Penalty fee: You’ll be charged 5% a month if you don’t pay enough or are late, or if you don’t pay the minimum amount due.
Remember that PSBank also charges for things like chequebooks, returned checks, and replacing cards, among other things.
3. How can I pay my monthly dues?
Personal loans aren’t the only thing PSBank has to offer. They also have a wide range of banking products and services, like:
Deposits. PSBank has a wide range of savings, checking, and time deposit accounts to meet a wide range of needs. These include savings in the peso, the dollar, and the euro.
Cards. Even though PSBank only has one credit, debit, and prepaid option, you will benefit from the extra flexibility and perks if you are a regular user who doesn’t expect a lot of reward money from your credit card.
Home loans. You can borrow from PHP500,000 to a maximum of PHP25,000,000, up to 80% of the value of your home. The loan can be used for a wide range of housing needs, such as buying a home, building a home, adding equity, or refinancing.
Investments. Products and services from PSBank can help you manage your money or diversify your portfolio.
Other products. At PSBank, you can get corporate banking accounts, escrow contracts, remittance services, and more.
The other PSBank OFW loan options offered include home loans and car loans. Home loans make up more than half of all loans that are given out. The first is for paying off debt, and the second is for buying a new car (as opposed to a used one).
Each PSBank OFW loan category’s characteristics, requirements, application process, and rewards are discussed in detail in the sections that follow.
There are many different types of homes that PSBank can help you find. You can choose a home that is a house, a lot, a townhouse, or a condominium. They can also help you come up with a plan that fits your needs.
PSBank Home Loan with Prime Rebate
The PSBank Home Loan with Prime Rebate makes owning a home a good thing to do. We can get you approved for a loan faster, make it easier to get a home loan and give you great rewards.
If you want to buy a house and lot, a townhouse, a condominium unit, or a residential lot, or build your own house, we can help you make that dream come true.
To free yourself from high interest rates from your bank or your developer, you can move your home loan to us.
It doesn’t matter what kind of home loan you need. PSBank Home Loan with Prime Rebate can help you more than any other bank can help you.
Requirements for PSBank Home Loan with Prime Rebate:
For employed applicants:
If the applicant is in business or in professional practice:
For overseas Filipino applicants:
Immigrant, Certificate of Employment and any of the following:
Additional requirements for refinancing:
Additional requirements for construction loan:
PSBank Home Credit Line
It’s now possible to use your home as collateral for loans or to make it more beautiful. This kind of money can be used to pay for a home improvement or to pay off a debt.
PSBank’s Home Credit Line is a great way to get a loan that can be changed and is cheap. It has low interest rates and a lot of ways to pay.
PSBank Home Construction Loan
We can’t think of anything better than being able to live in a home that’s been built just for us! A PSBank Home Construction Loan makes it as easy as possible to build and improve the home of your dreams.
When a person takes out the PSBank Home Construction loan, he or she can defer making the principal payment for a year and pay less interest. It also comes with a lot of different ways to pay, like over the counter and automatic debit.
How to Apply for a PSBank Home Loan
After buying a home, buying a car is one of the most practical and important things that a person can do in his or her life. Many extra benefits will come your way because of the deal. This will make your trip easier and more fun, but it will also save you money.
With a car, you can leave and arrive on time, but you can also protect yourself and your family from possible danger and accidents. To avoid getting into an accident or something else that wasn’t planned, make sure to have a safety feature in your car.
If you want to buy a car, even though it can be a lot of money, there are many ways to do so without breaking the bank – one of which is getting a PSBank Auto loan.
Why Take Out a PSBank Auto Loan
PSBank has an online application that makes it easy for you to get a loan. You can also go to any PSBank branch to accomplish the process if you want.
The PSBank OFW loan – Auto Loan is a fast and simple way to get a car loan. With its wide range of payment options and low interest rates, it’s the best choice for people who want to improve their credit score. One of the best parts of the loan is its Prime Rebate program, which lets you get a discount on your loan when you pay extra or make an early payment.
If you get the Prime Rebate, you can use PSBank’s auto loan to pay for your new or used car. It’s a great way to improve your credit score and buy a car without hurting your own money.
Loan Terms and Conditions:
Loan Amount: Minimum of PhP100,000
Loan Terms: Flexible between 12 to 60 monthly amortizations
Interest Rate: Based on the prevailing interest rate at the time of loan booking.
What is the PSBank Auto Loan with Prime Rebate?
It lets PSBank Auto Loan customers get rebates or savings if they make extra or early payments on their loan payments.
The rebate is automatically added to all term loans that are new or already in place. Getting the rebate doesn’t make the customer sign up or sign up for anything at all.
Rebates earned from making early or extra payments are calculated on a daily basis, even on weekends and holidays. They are credited to your account on each due date.
Prime Rebate doesn’t apply to loans that have no interest rate.
How does the PSBank Auto Loan with Prime Rebate work?
Make an advance payment: This is an example of how it works: If you pay your loan five days before the due date, you will actually get a rebate on a daily basis.
Make an excess payment: If you pay more than you need to on your due date, you will get a rebate every day from the date the payment was made.
Requirements for a PSBank Auto Loan
The number for 24/7 customer service is (632) 8845-8888.
GCash users can transfer money to and from PSBank and vice versa for free by giving their name and bank account number.
PSBank has made applying for a PSBank OFW loan product simple and straightforward, which means that you can save both time and money.
Choosing and qualifying for the best loan can take a long time and be very complicated. Many people don’t know where to start. However, it is important that you get the right loan for your needs and circumstances. Good thing there’s the PSBank OFW Loan that you can look into, as well.
There are a lot of things you can do with personal loans from this bank. They can be used to help you get by.
If you want to buy a home and buy a car at some point, both of these can be paid for by borrowing money from PSBank. As long as you meet all of the requirements and can pay your debts on time, applying for these types of loans is a simple process.
Banks and other financial institutions offer a lot of different types of loans. You might want to learn more about them after you finish reading this guide; you can find out more about these loans by clicking here.
