Tuesday, September 4, 2018

PSBank sets 1-day credit decision on home loan application for brand new condos & properties from accredited developers

Philippine Savings Bank (PSBank), the consumer banking arm of Metrobank Group, makes another first, setting a 1-day credit decision on home loan application for the purchase of brand new condominium units and properties from accredited developers.

The decision to provide the fastest credit decision on home loan applications for condos takes into consideration the pace by which customers would want to complete their transactions.

“The process of providing a credit decision within 1 day follows streamlining of internal evaluation processes, allowing the bank to offer the fastest possible credit decision on home loan applications. This is another step towards staying true to our brand promise to keep things quick and simple for our customers,” PSBank Senior Vice President and Marketing Group Head Noel Tuazon said.

He said the new approval process is available to those who plan to avail themselves of brand new condominium units and properties from accredited developers that include Federal Land, SM Development, DMCI, Megaworld, Rockwell, Ayala Land Premier, Avida Land, Alveo, Amaia, among others.

Aside from a 1-day credit decision for condos, PSBank Home Loan with Prime Rebate allows customers to earn rebates or savings when they make advance or excess payments on their monthly due. Rebates earned from advances/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.
In addition, PSBank Home Loan with Prime Rebate also features flexible terms as well as convenient payment channels through PSBank Mobile & Online platforms, automatic debit arrangement from a PSBank deposit account, post-dated checks, over-the-counter at any PSBank branch and via PSBank, Metrobank and BancNet ATMs nationwide.

On the other hand, approval process on condominium units and properties from non-accredited developers shall have the standard credit decision of 5 days via SMS. This will be applied as well as to home loan applications for purposes of acquiring house and lot, vacant lot, townhouse or duplex, house construction or renovation, refinancing an equity or reimbursement of acquisition cost.

The company’s commitment to provide a credit decision for home loan applications follows a similar commitment made for PSBank Auto Loan applications. For more than 2 years now, credit decisions on PSBank Auto Loans are made available within 24 hours.

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