Guide on PNB Personal Cash Loan Features & Application Process
PNB PERSONAL CASH LOAN – You can check here the documents required in applying for the Philippine National Bank loan offer.
In the country, one of the government banks that have been privatized after a some years is the Philippine National Bank. More popularly called PNB, the bank was established as a government bank in 1916 but it was fully privatized in 2007.
The offers of PNB include different bank accounts, credit cards, loans, investment products, remittance services, and insurance products. One of the loan offers of the bank is the Personal Loan which is a multi-purpose cash loan offer.
The said loan offer is non-collateral meaning there is no need to present a property as the collateral to qualify for the loan offer. The bank boasts its offer with huge loanable amounts, flexible loan terms, and low-monthly add-on interest rate.
The PNB Personal Cash Loan offer is open for employed and self-employed individuals and professionals who are at least 21 years old at the time of the loan application but not more than 65 years old upon the loan maturity. The bank has set a minimum annual gross income of Php 120,000.
Under the loan offer, the loan proceeds will be directly credited to the nominated PNB bank account of the borrower. Here is a range of the loanable amounts under the offer:
- Minimum Loanable Amount — Php 10,000
- Maximum Loanable Amount — Php 2 million
The loan is payable in 3, 6, 12, 18, 24 or 36 monthly amortizations for loans that are below Php 500,000 and up to 48 or 60 monthly amortizations for loans that are Php 500,000 and above. The bank implements a monthly add-on interest rate that is between 1%-2%.
Under the loan offer, there are some fees that you must be aware prior to application. Here are the charges implemented by the bank:
- Processing Fee — P1,500 to be deducted from loan proceeds
- Documentary Stamp Tax — P1.50 for every P200 approved loan amount or fraction thereof. Applicable for approved loan amount of P250,000 and above – to be deducted on loan proceeds
- Late Payment Fee — P500 or 5% of the overdue balance, whichever is higher
- Early Settlement Handling Fee/Service Fee — P500 or 5%, whichever is higher
- Returned PDC Fee — Php 1,500
