Details about the PSBank Cash Loan Interest Rate 2024 Based on Type of Loan
PSBANK CASH LOAN INTEREST RATE 2024 – Here is a guide on the interest rate implemented by the Philippine Savings Bank.
In the Philippines, there are several banks that offer different types of loans to the public. One of these is the Philippine Savings Bank or more popularly called PSBank which is a subsidiary of the Metrobank, one of the giants in the banking field in the country.
The PSBank offers different types of deposit accounts, loans, insurance policies, and investment products. One of its loan offers is the PSBank Personal Loan or also called the cash loan. It is a multi-purpose loan that offers a Revolving Credit Line and a Fixed Term Loan.
The loan offer is only open for Filipinos residing in the Philippines who are 22 years old and above but not more than 54 years old upon the loan application. The applicant must have a stable source of income and a residential landline or mobile number, business landline and email address.
If employed, the applicant must be working in the current employer for at least two years already and on a permanent work status. Furthermore, he/she must be earning at least PhP15,000 gross monthly income.
If self-employed, the applicant must be operating a business that is profitable in the last three years and earning at least PhP30,000 gross income per month. It is also an edge for the applicant if he/she is a credit cardholder.
The loanable amount under the PSBank cash loan offer varies depending on certain factors such as the paying capacity of the borrower. Meanwhile, the bank has generously posted details about the range of the minimum and maximum borrowing amounts it allows.
With regards to the PSBank Cash Loan interest rate, it also depends on the type of loan availed by the borrower under the offer. Also, the loan term plays a factor.
Here is a guide on the PSBank Cash Loan interest rate:
| Monthly Interest Rate | Interest Rate P.A. for 12 Months | Interest Rate P.A. for 24 Months | Interest Rate P.A. for 36 Months | |
| Term Loan | 1.75% | 42.88% | 41.29% | |
| Revolving Loan | 2.5% | 34.49% |
To apply for the loan offer, there are PSBank cash loan requirements that you must submit for application. The loan processing may take 5-9 working days.