Guide on How To Apply for the PNB Multipurpose Loan
PNB MULTIPURPOSE LOAN – Here is a guide on how to apply for the multipurpose loan offer of the PNB Savings Bank.
In the Philippines, there are a lot of subsidiary banks. One of them is the PNB Savings Bank, a subsidiary bank of the Philippine National Bank (PNB) which is a government banking company in the country.
The PNB Savings Bank also got a lot of offers for the public – including loans. There is a variety of loan that you may apply for as long as you pass the eligibility requirements.
One of the offers is the PNB Multipurpose Loan. Just as the name suggests, it can assist you on a variety of purposes compared to the housing and auto loans which are limited to residential properties and vehicle matters.
Based on the official website of the PNB Savings Bank, the PNB Multipurpose Loan offer is open for the employees of accredited companies. The payment for the loan will be in the form of monthly salary deductions that will be fixed with the employer.
Under the said loan offer, the borrower is covered by a Double Coverage Insurance – it means that in case an unexpected incident resulting to the death of the borrower happens, the family won’t be held accountable for the credit.
Also, the family may receive a cash assistance under the Double Coverage Insurance aside from your credit being paid.
The PNB Multipurpose Loan offer is limited to the regular employees of accredited companies. Should you wish for your company to be accredited, the following are the requirements for accreditation:
- Company Profile
- SEC or DTI Registration, Articles of Incorporation, By-Laws and updated General Information Sheet
- Business Permit
- BIR-stamped Audited Financial Statements and Income Tax Returns for the past three (3) years
- A Board Resolution (for corporations) or Resolution of Partners (for partnerships) authorizing the:
- Application for accreditation under the Multi-Purpose Loan Program and,
- Execution of the Memorandum of Agreement (MOA)
- Signature card containing the specimen signature of the company’s authorized signatories to all documents pertaining to MPL
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