Guide on the Philippine National Bank / PNB Home Loan Interest Rate Depending on Term
PNB HOME LOAN INTEREST RATE – Here is a list of the interest rates under the home loan offer of the Philippine National Bank based on several terms.
A lot of banks in the Philippines now are offering cash assistance to those who wanted to acquire a residential property. One of them is the Philippine National Bank or PNB.
The PNB, a government bank in PH, offers the house loan not only for the purchase of a residential property such as a lot, a house and lot, a condominium unit, or a townhouse but as well as to fund a house construction.
You may also apply for the PNB House Loan to fund a house improvement or renovation. In addition, you can as well take out existing other loans through this offer.
Based on the official website of the Philippine National Bank, in applying for the PNB Housing Loan, an applicant must be a Filipino between between 21-65 years old upon the maturity of the loan. Also, the borrower should be a working individual or a self-employed one.
With regards to the details about the housing loan offer, here is a list of the minimum and maximum loanable amounts:
- Minimum Loanable Amount
- Php 750,000.00 for the purchase of house & lot, townhouse & condominium within Metro Manila
- Php 500,000.00 for the purchase of house & lot, townhouse & condominium outside Metro Manila
- Php 500,000.00 for the purchase of lot within Metro Manila
- Php 200,000.00 for purchase of lot outside Metro Manila
- Maximum Loanable Amount
- up to 80% of the appraised value of the property for house & lot, townhouse & condominium
- up to 60% of the appraised value of the property for lot
With regards to the PNB Home Loan interest rate, it depends on the term. Here is a list of the possible rates to be implemented based on the terms:
- 5.75% fixed for 1 year
- 6.50% fixed for 2-3 years
- 6.75% fixed for 4-5 years
- 8.50% fixed for 10 years
- 10.25% fixed for 15 years
- 10.75% fixed for 20 years
Are you interest to apply? Visit the following link for the list of requirements to be prepared – ttps://www.pnb.com.ph/index.php/loans/housing-loan-requirements.
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READ ALSO: PNB HOUSING LOAN – Guide On Fees In Applying For PNB Housing Loan
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