Steps for PSBank Cash Loan Application 2024 To Ensure Smooth Process
PSBANK CASH LOAN APPLICATION 2024 – Here is a guide on how to apply for the Personal Loan offer of the Philippine Savings Bank.
Amid the countless loan offers provided by the different banks and lending companies in the Philippines, the multi-purpose loans are the most flexible. They are also usually called personal loans or cash loans. One of the offers is the PSBank Cash Loan of the Philippine Savings Bank.
The Philippine Savings Bank is a subsidiary of Metrobank. It has several loan offers as well as deposit account offers, insurance policies, and investment products. Its multi-purpose cash loan offer is the Personal Loan that gives the borrowers options between a Revolving Credit Line and a Fixed Term Loan.
The PSBank cash loan application is open for both employed and self-employed applicants. The offer is collateral-free thus even those who have no properties to use as a collateral may apply for the loan offer.
With regards to the loanable amount under the PSBank cash loan offer, the bank has set a range of the minimum and maximum amounts allowed for borrowing but it considers certain factors like the capacity of the borrower to repay the loan. The loan is payable for up to 36 months or three (3) years.
The PSBank cash loan interest rate depends on the type of loan you want to avail under the offer. There is an easy process on how to apply for the loan offer:
Step 1 — Check the Qualifications.
- a Filipino residing in the Philippines
- 22 years old and above but not more than 54 years old upon the loan application
- with a stable source of income:
- If employed:
- at least two years permanent work status with one year tenure in current employer
- earning at least PhP15,000 gross monthly income
- If self-employed:
- business must be operating profitably for the last three years
- earning at least PhP30,000 gross monthly income
- If employed:
- has a residential landline or mobile number, business landline and email address
- preferably an active credit cardholder
Step 2 — Prepare the Requirements.
Aside from meeting the eligibility requirements, the loan applicant must also prepare the documentary requirements for PSBank cash loan application.
Step 3 — Submit the Requirements.
Go to a branch of the Philippine Savings Bank nearest to you. Submit your documents to file your loan application.
According to the bank, the PSBank cash loan application processing may take 5-9 working days. From the application encoding to the credit decision, it may take 1-3 days and it will be followed by one working day for the booking of approved loan application.
Afterwards is the delivery of the PSBank Flexi ATM card and the temporary PIN. For loan applicants within Metro Manila, it may take 5-7 working days from booking date and 7-9 working days for borrowers based outside Metro Manila.
