PNB Loans Updated on September 2024
What crosses your mind when you think about loans?
Surprisingly, 77% of the adult population believe that loans are beneficial for them and their family. This is based on the 2015 baseline study of the Bangko Sentral ng Pilipinas (BSP).
While loans benefit us, they are still a financial responsibility that must be chosen and handled well. Choosing the right loan that best fits your needs and finances must be done seriously.
You probably read this because you consider bank loans your financial resort. Almost 50% of adult Filipinos get their loans from banks that offer various loans. However, banks have limitations, too, when it comes to serving every Filipino.
Credit : https://www.pnb.com.ph/index.php/loans?tpl=1
The Philippine National Bank was established as a government-owned banking institution on July 22, 1916. It has survived WWI and WWII and even became the first universal bank in the country.
By 1989, PNB had become a private company. Now, Lucio Tan Group owns most of its stocks. As the chairman of the LT Group, Inc., he acquired approximately 35% of the bank’s total outstanding capital stock. In early 2000, its share increased to 69.32%, and in less than one year, it pumped in nearly Php 20 billion in fresh capital.
As of December 31, 2023, PNB had widened its dominion. Today, PNB has 631 domestic branches and 1,680 ATMs nationwide. In addition, it maintains 73 overseas branches, remittance centers, representative offices, and subsidiaries in Asia, Europe, North America, and the Middle East.
PNB loans provide a wide range of services to Filipinos. No matter where you are, you can count on PNB and its friendly Filipino staff to help you. The bank will ensure you feel taken care of and at home, just like you would if you were back in the Philippines.
OFWs are always known to give their families the best. When it comes to convenience, most of them dream of buying a car for their loved ones. The car you buy will be used as security for the PNB loan. If you don’t repay the loan, the bank can take the car to recover the money.
This PNB loan can be used to buy various vehicles, including sedans, SUVs, passenger vans, AUVs, and LCVs. It makes purchasing the automobile you need for personal or business use easier.
However, this is only offered to Filipinos working in Hong Kong and Saudi Arabia who are 21 to 60 years old. You must also have been working abroad for at least two years. In addition, you need to gather a few essential documents, such as:
With Global Filipino Auto Loan, you can borrow from Php 400,000 up to 80 percent of the brand-new unit’s purchase price. Note that the actual loan amount and interest rate will remain at the bank’s discretion.
OPHL is a unique program from PNB that helps Filipinos and non-Filipinos living and working abroad buy a home in the Philippines. It’s one of the PNB loans that makes it simple and secure to get financing for residential properties in the Philippines.
PNB Loans OPHL apply for various things related to buying or improving a home, such as:
OPHL is convenient for the following reasons:
OPHL is an excellent option for anyone living in these countries: Los Angeles, Japan, New York, the Middle East, Singapore, Guam, Global Hong Kong, and Europe.
The PNB Pangarap Loan is one of the PNB loans for Filipinos working abroad. It’s designed to help you with various needs or dreams, like buying a home, paying for your children’s education, or covering unexpected expenses. It is a flexible loan that can help with many of your needs.
Filipinos working in certain countries can only apply for PNB Pangarap. You can get it at PNB branches in Italy, Singapore, and Hong Kong. To apply, visit one of these PNB branches. The staff there will help you with the application process and explain what documents you must provide.
The PNB Pangarap Loan is a way to get financial help while working abroad. It can help you manage essential expenses and reach your goals.
This loan can be used for purchasing a property, home construction, house renovation, and refinancing. You can also use this loan to pay off an existing loan. Also, PNB loans for homes can help you purchase a house and lot, a lot, a townhouse unit, or a condominium.
You may follow these steps to apply for a PNB Housing Loan.
PNB online loan application only applies to the application form. The entire process requires a personal appearance to the bank.
PNB offers home loans to Filipinos and natural-born Filipinos with other citizenship. Your age must be 21 to 65 upon the loan’s maturity. Also, you need to either be an employed or a self-employed individual.
You must submit a duly accomplished Housing Loan Application Form and a photocopy of two valid government-issued IDs. Also, you must present a non-refundable Appraisal Fee. Provide a separate application form if you have a co-borrower/co-maker/attorney-in-fact. Don’t forget to fill out the Data Privacy Client Consent Form too.
In addition, your home developer must belong to the acceptable financing for PNB Housing Loan. These are Arthaland, Ayala, DMCI, Eton, Filinvest, Robinsons, Megaworld, Shang Properties, SMDC, and Vista Land.
The loan amount will depend on the property’s location and the property to be purchased. Usually, properties within Metro Manila are given a higher loan amount since their prices have skyrocketed.
For example, the minimum loan amount for a townhouse, house & lot, and condominium is Php 750,000 within Metro Manila but Php 500,000 outside the city. Meanwhile, the purchase of a lot costs Php 500,000 within and outside Metro Manila.
However, the maximum loan amount depends on the appraised value. For example, a lot property can be up to 70%. However, houses and lots, townhouses, and condominiums can be up to 80%.
The Interest Rate is fixed, ranging from 5.75% to 10.75%. The longer the term, the higher the interest you have to pay. However, it is also based on the current home loan rate when you apply for the loan. It’s essential to check the current rate when you use it, as it can affect how much you will pay in interest over the life of the loan.
The loan terms vary depending on your purpose. For lot purchases and home improvements, it takes up to 10 years. Meanwhile, it lasts up to 25 years for house & lot, condominium unit, townhouse, and house construction purchases.
Looking for a way to finance your car? PNB Car Loan helps you purchase a new or used vehicle. Also, it aids in refinancing a previously purchased car. In addition, PNB offers a motorcycle loan. It supports borrowers who prefer a brand new or already used two or three-wheeled vehicle.
PNB car loans are available for Filipino citizens and Foreigners based in the Philippines. To qualify, expats must have a valid Alien Certificate of Registration (ACR).
Upon loan maturity, you must be 21 to 65 years of age. Also, you must be permanently employed for a minimum of 1 year. But if you’re self-employed, your business operation must be at least 3 years.
Your income documents are highly needed for the success of your loan application. If you’re employed locally, you need the Latest ITR and Certificate of Employment stating your compensation. But if you’re employed internationally, you must present your Latest Employment Contract and Proof of Remittance.
For self-employed and business owners, prepare your Business Papers, the Latest ITR with an Audited Financial Statement, and the Latest 3 months’ Bank Statement. Meanwhile, the corporation and partnership require an SEC Certificate of Registration, the Latest ITR with an Audited Financial Statement, the Latest 3 months’ Bank Statement, Articles of Incorporation and By-Laws, and a Secretary’s Certificate.
Don’t forget to submit a completely filled-up and signed application form and two government-issued valid IDs.
You can borrow at least Php 150,000 up to 75% of the appraised value of a used car and Php 300,000 up to 80% of the purchase price of a brand-new unit.
The older the used car, the shorter the term you can get a loan in PNB. The interest rate for a PNB Auto Loan is fixed, ranging from 9.36% to 23.39%. For a better understanding of the PNB loans rates and repayment, utilize the Auto Loan Calculator.
When choosing a credit card, you shouldn’t just focus on the rewards, rebates, and freebies. You also need to know the fees to avoid bill shock.
To apply for a PNB credit card, you must be between 21 and 65 years old. In addition, your yearly income must be at least Php 120,000. It shows the bank that you have enough money to make regular repayments.
The documents needed vary based on your source of income.
Employed applicants must have a recent one-month payslip or COE indicating Gross Income, Date Hired, and Position. It can also be your ITR or active principal credit card number with at least one year of membership. In addition, a photo-bearing Government-issued ID with signature, proof of billing for PNB non-depositor, utility bills, or a Credit Card Statement of Account is required.
Self-employed applicants must have the latest ITR with a BIR Stamp and Audited Financial Statement. In addition, a photo-bearing Government-issued ID with signature, proof of billing for PNB non-depositor, utility bills, or a Credit Card Statement of Account is required.
If you are a foreign national, you must also submit either of the two sets.
Set A must have a Passport, ACR, proof of billing, utility Bills, or Credit Card Statement of Account. And any of the following: National ID, IRS ID, SSN ID, Driver’s License, Work permit issued by DOLE if employed in the Philippines, or Company ID.
Set B must have a Passport, Unexpired Philippine Retirement Authority ID or Special Resident Retiree’s Visa, proof of billing, utility bills, or credit card statement of account. And any of the following: Bureau of Immigration Approved Order or Certificate of Deposit issued by the Bank where the PRA/Visa is deposited.
Regarding unexpected expenses, PNB Personal Loan Philippines is the best option. It is a multipurpose loan that qualifies any borrower based on income and credit history. In addition, a personal loan is flexible. You may use it for individual utilities, planned or unprecedented life events, and debt consolidation.
You can apply for various reasons when you take out a loan from PNB-PL. You can spend it to cover medical expenses, like paying for a doctor’s visit, hospital bills, or medicines. Also, you can pay school fees or buy books for your education. In addition, you can use the instant cash to fix up your home, like repairing a leaking roof or giving your kitchen a new look.
If you need new furniture, appliances, or other things around the house, PNB loans can help. Perhaps you dream of taking a vacation or traveling somewhere special. The loan can cover that expense as well. Finally, if you have any other personal needs, like a particular purchase or paying off an unexpected bill, this loan could be just what you need to handle.
A Filipino citizen is eligible for a PNB Personal Loan. In addition, you must be at least 21 years old when you apply, but at most, you must be 65 by the time the loan is fully paid off. Also, you should have a steady job or be self-employed, earning at least Php 120,000 per year.
You don’t need collateral, like a car or property, to get a PNB Personal Loan. It means you don’t have to give the bank anything of value as a guarantee to get the loan.
However, you will need to provide some identification. Primary IDs, like a passport, driver’s license, or national ID, are the most important. If you don’t have those, you can use secondary IDs, such as a company ID, school ID, or other government-issued cards. These help the bank verify your identity when you apply.
You can apply for a loan of up to Php 2 million, but this will depend on the bank’s approval based on your financial situation. PNB loans offer flexible terms, meaning you can repay it over a period as short as 3 months or as long as 60 months. It allows you to pick a repayment plan that best fits your budget and needs, making it easier to manage your payments over time.
The PNB Personal Loan has a low monthly add-on interest rate, making it affordable to pay back over time. A processing fee of Php 1,500 will be deducted from the loan amount before it is given to you.
A documentary stamp tax will be deducted if your loan is approved for more than Php 250,000. This tax is Php 1.50 for every Php 200 loan amount or part.
If you miss a payment, there is a late payment fee of Php 500 or 5% of the overdue balance, whichever is higher. But if you decide to pay off your loan early, there is an early settlement fee of Php 500 or 5% of the remaining loan balance, whichever is higher.
For any post-dated checks (PDCs) you must provide for returned or bounced payments, you will be charged a fee of Php 1,500.
Step 1. To apply for a loan, download and fill out the application form.
Step 2. Prepare essential documents, like a valid ID, proof of income (such as a payslip or certificate of employment), and proof of billing, like a utility bill, to show where you live.
Step 3. Once you have everything ready, you can bring the documents to the nearest PNB branch, or if you prefer, you can email them to PNB at PNB-CFS-PLRetail@pnb.com.ph.
The business loan is often allied to a Small Medium Enterprise Loan. It offers accessible financial assistance for starting business owners and caters to small businesses wishing to expand. However, you must meet the Philippine National Bank Business Loan requirements.
If you’re considering opening a new business, this loan can provide the money you need to start. It can help cover costs like buying equipment, renting a shop, or getting supplies. If you already have a small business, you can use this loan to expand. You might use it to open a new location, hire more staff, or add new products and services.
Suppose your business involves retail and wholesale trade, light manufacturing, processing, and services. It also finances businesses with favorable credit standing and track records for the past three years. In addition, the minimum loan is from Php 1.0 million to Php 10 million with acceptable Term Loans and Domestic Bills Purchase Lines. Its tenor involves a minimum of 1 year and a maximum of 5 years.
This PNB loan aims to give entrepreneurs the financial boost they need to build or grow their dreams.
An appliance loan is different from other PNB loans. It does not require you to have collateral. It means you don’t have to offer valuable items, like a car or house, as security for the loan.
However, the primary purpose of your loan application is to purchase electronics. It can be a much-needed home appliance like a refrigerator, air conditioner, or television. Also, you can use it to buy devices like mobile phones, tablets, and other electronic devices.
The PNB loan has flexible payment terms, so you can choose how long to repay it. It makes it easier to manage your budget while getting the items you need.
PNB Loans are indeed beneficial, whatever your reasons for borrowing. However, there are downsides you must watch out for. Get fast, safe, and secure cash loans online with Cash Mart Philippines. It helps you manage your finances based on your current financial status. Therefore, it saves you from diving into a pit of money troubles.
Once your loan is approved, the PNB loan cash will be deposited directly into your chosen PNB account. You don’t have to pick it up or wait for a check in the mail. It will go straight to your account, making it easy and quick to access the funds whenever needed.
The PIC is a virtual credit card that lets cardholders borrow cash up to the total credit limit. You can pay this back in smaller, regular payments over time, making it easier to manage. Meanwhile, PNB personal loans allow customers to borrow anywhere from P10,000 to P2,000,000. Once approved, the PNB loan amount is deposited directly into your active PNB Savings Account. This way, you can immediately use the money for whatever you need.
No. You don’t need a PNB Credit Card to apply for a PNB Personal Loan. You can still apply for the loan even if you don’t have a credit card with them. As long as you meet the other requirements, you can still get the loan and have the money deposited into your account, ready to use.
If you have questions or need help, call the PNB Customer Care Hotline anytime, day or night, at +632-8573-8888. The hotline is open 24/7, so someone will always be ready to assist you. In addition, you can email customercare@pnb.com.ph, and a representative will get back to you to help with your concerns.
