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LANDBANK PERSONAL LOANS – Who Are Eligible To Apply For Each Loan

Guide on Who Are Eligible To Apply for the Landbank Personal Loans

LANDBANK PERSONAL LOANS – Here is a guide on who are eligible to apply for each home loan under the Landbank of the Philippines’ Personal Loan offers.

One of the biggest banks in the country is the Landbank of the Philippines, it is the main government bank in PH. It caters a lot of services most especially to the employees of the government and the public sector. Government agency payrolls are under the bank.

You may apply for a deposit account to Landbank or you may also be eligible for a credit card or a debit card. Furthermore, this government bank also has a lot of loan offers for the public.

Among the offers of the bank are the Landbank Personal Loans which include three(3) home loan offers. They are the following:

  • Easy Home Loan
  • End Buyer’s Tie-Up Facility
  • Bahay Para sa Bagong Bayani (3B)
Landbank Personal Loans

Based on the official website of the bank, each of the three(3) Landbank Personal Loans mentioned above got a different set of standards on who are eligible to apply for it. That is what we will present in this article.

Landbank Easy Home Loan

This home loan offer is open for the purchase of a townhouse, a condominium unit, a residential lot, a house and lot, and other residential properties. To be eligible for this loan offer, the applicant must be:

  • a Filipino citizen
  • at least 21 years old but not more than 65 years old on the maturity date of the loan
  • employed or self-employed

How long is the maximum loan term?

You may pay for the loan for up to twenty(20) years. The minimum loanable amount is Php 500,000.00. The amount you can borrow is subject to the approval of the bank.

Landbank End-Buyer’s Tie-Up Facility

The Landbank End-Buyer’s Tie-Up Facility is open for the acquisition of a residential lot and properties that are ready for occupancy. It is also open to fund the construction of a house. The following are the eligibility requirements under this offer:

  • Developers which have current credit lines with the bank
  • Developers and subsidiaries who passed the “Accreditation Process” although it has no existing credit lines with the bank

How long is the maximum loan term?

The maximum loan term is twenty(20) years for other residential properties aside from socialized housing. The latter may be paid for up to thirty(30) years. The maximum loanable amount is up to 90% of the contract price of the proprty.

Landbank Bahay Para sa Bagong Bayani (3B)

Also one of the Landbank Personal Loans is the 3B. It is open to assist a purchase of a residential lot, a house and lot, a condominium unit, or a townhouse.

You may also apply for this offer for the refinancing of an existing home loan, construction or renovation of a house owned by an OFW, or assumption of a house owned by an OFW. To be eligible to apply for this loan, the applicant must be:

  • a Filipino citizen
  • at least 21 years old but not more than 65 years old on the maturity date of the loan
  • an OFW holding a live contract from a reputable company
  • clear of adverse credit finding with other creditors

How long is the maximum loan term?

The maximum loan term under the 3B depends if the applicant has a co-borrower. If the applicant has a co-borrower, he or she may pay for the loan for up to twenty(20) years but if he or she no co-borrower, the maximum loan term is fifteen(15) years. The minimum loanable amount under this offer is the lowest paying capacity of the OFW.

Do you want to know what are the other loan offers of Landbank? Feel free to visit this page for the list – LANDBANK LOAN OFFERS – List of Loans Offered by Land Bank of the Philippines.

Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.

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