Details about the PSBank Business Credit Line Amount, Interest Rate…
PSBANK BUSINESS CREDIT LINE AMOUNT – Here is a guide on the features of the SME Business Credit Line offer of the Philippine Savings Bank.
Are you looking for an entity that can widen your resources as you navigate towards the greatest potential of your business? Among the entities that you may turn to are banks. You can go for bank loans and credit lines.
In the Philippines, one of the banking entities that you may turn to for business loans credit line offers is the Philippine Savings Bank. More popularly called PSBank, it is serving the Filipino populace for decades now offering different personal and business offers.
Under the business category, there are several loans. There is the PSBank SME Term Loan that offers a revolving credit line and fixed-term loan as well as the SME Business Credit Line.
Truth be told that many businesses prefer credit lines over cash loans for the business. This one can limit the use of the amount borrowed for the business needs.
Under the offer, the PSBank Business Credit Line amount depends on the collateral. Here is a guide on how much the credit line may extend for your business:
- For Real Estate Property Collateral — minimum of Php 2 million
- For Cash Deposit Collateral — Php 500,000.00
The interest rate depends on the SME Business Credit Line rates and the line expiry is 365 days from the date of the first billing cut-off that is renewable every month. The modes of availment include the following:
- Issuance
- Encashment
- Negotiation of PSBank SME Business Credit Line Checks
The PSBank Business Credit Line offer is a collateral offer. The bank accepts any of the following:
- any prime residential/commercial/industrial properties with or without building improvements
- cash deposits
In applying for the offer, PSBank requirements for business credit line application depends on the collateral. The processing may take 20 banking days.