Guide on the PBCom Home Loan Interest Rates Based on the Fixing Term
PBCOM HOME LOAN INTEREST RATES – Here are the interest rates implemented by the universal bank based on the fixing period.
Have you heard about the Home Loan offer of the Philippine Bank of Communications or more popularly called PBCom? It can finance several purposes such as the following:
- purchase of a vacant lot and a residential unit
- house construction
- home loan refinancing
- home loan reimbursement
- acquisition of mixed-use properties
PBCom can lend you as much as Php 20 million depending on the loan purpose. With regards to the PBCom Home Loan interest rates, it depends whether you availed a one-year fixing term or a three-year fixing term.
The loan is payable for up to 20 years. Here are the PBCom Home Loan interest rates for both the regular home loan and the home equity loan:
| Interest Rates | |
| 1-Year Fixing Term | 9.25% |
| 3-Year Fixing Term | 10.50% |
With regards to the fees and charges implemented by PBCom, here are the fees set under the Home Loan offer of the commercial bank:
- Appraisal Fee
- P3,500 — within National Capital Region (NCR), Cebu City or Davao City
- P5,000 — outside above stated areas
- Documentary Stamp Tax (DST) — P1.50 for every P200 of approved loan amount
- Real Estate Mortgage (REM) — DST and registration fee with Registry of Deeds (RD) computed based on approved loan amount
- Mortgage Redemption Insurance (MRI) — Computed based on approved loan amount
- Fire Insurance (FI) — Computed based on appraised value of improvement / building
- Certified True Copy of Title — P1,000 per title
- Title Verification Fee — P1,500 per title
- Processing Fee — P5,000
- Notarial Fee — P1,500
Aside from preparing for the fees and charges set by PBCom under the loan offer, there are also documentary requirements that you need to prepare in applying for the loan offer. The loan offer is open for locally-employed individuals, self-employed individuals, and overseas Filipino workers (OFWs).
The list of documents required by the bank depends if you are locally-employed, self-emnployed, or an OFW.
