Details about the PNB Cash Loan Interest Rate 2024 — A GUIDE
PNB CASH LOAN INTEREST RATE 2024 – Here is a guide on how much interest your Personal Loan under the Philippine National Bank may incur.
In the Philippines, among the best entities to turn to for loans are banks. There are many banks that you can choose from but if you are looking for a trusted one, you may turn to the Philippine National Bank or more popularly called PNB.
The PNB, a government bank, has been in the service of the Filipino people since 1916. It has grown and is now one of the giants in the Philippine banking industry. The LT Group-owned bank offers a multi-purpose cash loan, the PNB Personal Loan.
You may apply for the PNB Personal Loan offer to fund a project, do some minor business expansion, travel, make a huge purchase, etc. Who are qualified to apply for the loan offer? Here is the eligibility criteria set by the bank under the loan offer:
- Filipino citizens
- 21 years of age and above at the time of the loan application
- not more than 65 years of age upon loan maturity
- Employed or self-employed individual with a minimum annual gross income of Php 120,000
Before applying for any loan, one of the most beneficial and responsible things to do is to check the interest rate. Truth be told that many people only settle in knowing the monthly amortization. However, it is best to know how the interest will be implemented.
In the case of the PNB cash loan interest rate, it will be implemented on a monthly add-on scheme. The loan is payable for up to 60 monthly amortizations or within five (5) years.
The PNB cash loan interest rate lies between 1% to 2% per month on a monthly add-on basis. According to the bank, the repayment of the loan can be done through an Auto Debut Arrangement or ADA to prevent late payments.
Late loan due payments is part of the PNB cash loan fees. Thus, through an ADA, you can avoid being fined for having forgotten that you have a bank loan due. You may also pay for the loan through Post Dated Checks (PDCs) or your nominated PNB account.
In applying for the loan offer, prepare thge requirements for PNB cash loan application and submit them for the loan application.
