Friday, March 16, 2012

Simple lang maaasahan...PSBank yan!

PSBank Flexi Personal Loan 
           is the first and only collateral-free personal loan product with the flexibility of a revolving credit line and a fixed term loan. It provides customers access to day and night banking from hundreds of ATM machines.
Revolving credit is a type of credit that does not have a fixed number of payments. The amount you can borrow decreases or increases depending on how much you have repaid. In a term loan, one is required to make periodic payments usually over a certain fixed period. With PSBank Flexi Personal Loan, you can choose between 24 and 36 monthly amortizations.
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   Prime Rebate
Prime Rebate allows customers to earn rebates or savings when they make advance or excess payments on their PSBank Flexi’s monthly due.
* The rebate is automatically applied to all new and existing term loans. The client does not need to register or enroll to get the rebate.
* Rebates earned from advance/excess payments are computed on a daily basis – including weekends and holidays, starting on the date the payment is posted, and credited every due date.
* Rebate is applicable to advance/excess payments for the total term loan amortization due
* Prime Rebate is not valid for loans under a zero-interest rate promotion or program.
How does the PSBank Prime Rebate work?
Make an Advance Payment
For example, when you pay five (5) days before your loan’s monthly due date, you will actually earn a rebate on a daily basis from the day your payment was posted to the day before your loan’s due date.
Make an Excess Payment
If you pay in excess of the amount required on your due date, you will earn a rebate on a daily basis from the date of posting up to the day before the next due date.
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Product Features
Credit Facility
Revolving Credit Line and Fixed Term Loan
Loan Amount
Minimum of PhP20,000; Maximum of PhP250,000
Loan Term
24 or 36 months
Minimum Monthly Repayment
The minimum amount that must be paid on or before the Payment Due Date to avoid any penalty.  To arrive at your Minimum Amount Due, please add the following:
• 5% of the Total Amount Due of Revolving Loan Availments or Interest Due or P500.00, whichever is higher
• Monthly amortization of installment Loan Availments
• Penalty and late charges for the period
Finance, late charges, other fees and total installment amortizations will only be deducted from the available credit line on payment due date.
Interest Rate
2.5% interest rate for the Revolving Loan; 1.75% add-on rate for the Fixed Term Loan.
Form of Payment
·  Over-the-counter at any PSBank branch nationwide
·  BancNet ATMs nationwide and BancNet Online for clients who have deposit accounts in these banks 
·  Via PSBank Remote Banking for enrolled and activated PSBank accounts
·  Client-initiated deduction/debit from PSBank deposit account only
Accessibility
·  Revolving Credit facility may be availed of from PSBank, Metrobank, Megalink, Expressnet, and BancNet networks nationwide and Maestro-Cirrus ATMs worldwide
·  Term Loan facility may only be availed of from any PSBank ATM
·  Point-of-Sale (as debit card): Can be used in over 20,000 BancNet, Megalink, and ExpressNet-affiliated stores 
·  PSBank Flexi Personal Loan Checks
Release of ATM Card
·  Delivered via courier to place of work
Turn Around Time
5 days
Annual Fee
PhP1,500 or 1% of  the approved credit line whichever is higher.
ATM Service Fee
PSBank ATMs: PhP20.00
Metrobank ATMs: PhP22.50
BancNet, Megalink, ExpressNet ATMs: PhP30.00 per withdrawal; PhP1.00 per balance inquiry
BDO & Cirrus ATMs: US$3.50 + PhP20.00 per withdrawal; US$1.00 per balance inquiry    
Credit Line Validity
Renewable yearly
Maximum Withdrawal per day
PhP50,000 in all PSBank and Metrobank branches
Checkbook
For approved credit lines PhP50,000 and up, clients get one FREE checkbook upon request.

For approved credit lines less than PhP50,000, clients can request for a checkbook at a standard cost of PhP165.00.
Statement of Account
Clients are advised of their account details via:

• E-Mail  
loanmanager61280@gmail.com 

• PSBank Remote Banking - Statement of Account in PDF and Loan Account Summary
PSBank Flexi Personal Loan Activation Hotline
You may call Customer Service at 09069696578(TM) or 09473463160 (smart) , any day.
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Qualifications
Citizenship
: Filipino
Residence
: Philippines
Age
: 22-54 years old upon application
Source of Income
: Employed or self-employed
Work Tenure
: At least 2 years permanent work status with 1 year tenure in current employer if employed or 3 years profitable in the same business if self-employed
Monthly Income
: At least PhP15,000 gross monthly income if employed
: At least PhP30,000 net monthly income if self-employed
Others
: Preferably an active credit card holder
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 With residential landline or mobile number, business landline and email address
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Documentary Requirements
• Completely filled out PSBank Flexi Personal Loan application form.
• Photocopy of any of the following identification cards: Company ID, SSS, GSIS, PRC, Driver's License, Passport or TIN (plastic card type), Firearms License, NBI Clearance, Integrated Bar of the Philippines ID.
 
• Photocopy of BIR form 2316, 2306, 2307 or 1700 for employed applicants.

• Photocopy of BIR form 1701 or 2317 for self-employed applicants and Auditor's Report and Financial Statement with BIR Stamp.

• Original copy of the latest credit card billing statement (with the client as the PRINCIPAL cardholder).