Guide on PSBank Auto Loan Application Process
PSBANK AUTO LOAN APPLICATION 2024 – Here is a guide on how to apply for the Philippine Savings Bank loan offer and the requirements.
There are a lot of auto loan offers provided by the different banks and lending companies in the country. However, not everyone gives clients the chance to earn discounts which can lower the loan amount like the offer of the Philippine Savings Bank or PSBank does.
The PSBank is a subsidiary bank of the Metrobank, one of the biggest and most trusted banks in the country. The auto loan offer is officially called the PSBank Auto Loan with Prime Rebate. Under the loan offer, everytime you have excess amounts on your payments or you will pay in advance, you may earn discounts. The loan application can be approved within 24 hours.
With regards to the PSBank Auto Loan loanable amount, it may vary but the bank has set a reasonable minimum loanable amount under the offer. The loan is payable for up to 60 monthly amortizations thus you can really opt for low monthly installments.
There are easy steps for the PSBank Auto Loan application process. Here is a guide on how to apply for the loan offer:
Step 1 — Check if you are qualified to apply for the Auto Loan offer. Here are the qualifications set by the bank under the loan offer:
- at least 21 years of age and not more than 65 years at the time of loan maturity
- Filipinos, foreigners holding permanent resident / immigrant visas (permanent residents) and certain non-immigrants and embassy officials (temporary residents), subject to specific limitations and conditions.
- with a stable source of income:
- If employed, the loan applicant must have a tenure of at least two (2) years
- If engaged in a business, the loan applicant must be operating for the last two (2) years
- earning a gross monthly family income of at least Php 30,000
Step 2 — Prepare the requirements.
Make sure to compile all the PSBank Auto Loan requirements for application. They will be submitted to the bank for the loan processing and evaluation.
Step 3 — File your loan application.
Go to a branch of the Philippine Savings Bank or PSBank and submit your requirements. Afterwards, wait for an update from the bank regarding the status of your loan application.
The PSBank Auto Loan interest rate depends on the prevailing rate but there are fees that you must be aware of.
