Guide on PSBank Home Loan Amount 2024 (Minimum & Maximum)
PSBANK HOME LOAN AMOUNT 2024 – Here are the minimum and maximum loanable amounts under the PSBank Home Loan with Prime Rebate.
Are you looking for a bank where you may apply for a home loan? Undeniably, more and more people nowadays prefer to get or build their target residential property under a loan offer so they can use their savings in areas where it has chances to grow.
Under a home loan, you only have to pay for the monthly amortization. One of the banks in the country with the said loan offer is the Philippine Savings Bank or more popularly called PSBank. It actually has multiple home loan offers including the PSBank Home Loan with Prime Rebate which we will discuss in this article.
The PSBank Home Loan with Prime Rebate is open to finance several purposes. You may apply for it to fund any of the following:
- residential property acquisition
- house construction
- home renovation
- refinancing
- equity or reimbursement of acquisition cost
The Home Loan offer of the bank is open for a Filipino of legal age and residing in the Philippines. The loan applicant must be employed, self-employed, or an overseas Filipino worker (OFW) with a stable source of income and has a residential landline or mobile number, business landline and email address
With regards to the PSBank Home Loan amount under the offer, the borrowing amount may actually depend on certain factors including the following:
- actual need for the project / loan purpose
- borrower’s capacity to pay
- assessed value of the property involved
Meanwhile, the bank has generously posted the PSBank Home Loan loanable amount under the offer. Here’s the range of how much you may borrow:
- Minimum Loanable Amount — Php 500,000
- Maximum Loanable Amount — Php 25,000,000
The bank approval per application will not exceed 80% of the appraised value of the property. According to PSBank, under its loan offer, the borrower may repay the loan for up to 10 years for the purpose of a residential lot purchase and a maximum of 25 years for other purposes.
With regards to the interest rate under the PSBank Home Loan offer, it is based on the prevailing rate at the time of the loan approval. To apply for the loan offer, there are requirements for PSBank Home Loan application that you must prepare and submit to the bank.