PSBank Flexi Personal Loan with Prime Rebate 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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PSBank 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. Borrower may choose any loan option on a per transaction basis.

Loan Amount

  • Minimum of PhP20,000

  • Maximum of PhP250,000

Loan Payment Options

For revolving credit line transaction, the borrower may choose to pay:

- Total amount due of the loan
- Minimum amount due
- Any amount higher than the minimum amount due

For fixed term loan transaction, the borrower pays a fixed amount over a certain period

Payment Tenors (applicable for  Fixed Term Loan)

24 or 36 months

Minimum Monthly Repayment (Minimum Amount Due)

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% monthly interest rate for the Revolving Loan

  • 1.75% monthly add-on-rate for Term Loan

How to pay for  your monthly due

  • 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 Online for enrolled and activated PSBank accounts

  • Client-initiated deduction/debit from PSBank deposit account only

  • Fund Transfer from another PSBank deposit account

How to avail funds from your Flexi Personal Loan

Revolving Credit facility

  • Cash withdrawal from any PSBank, Metrobank, MegaLink, ExpressNet, Bancnet ATM networks nationwide and Maestro-Cirrus ATMs worldwide.

  • Swipe it when you shop in over 20,000 BancNet, MegaLink, and ExpressNet-affiliated stores

  • Issuance of PSBank Flexi Personal Loan Checks

Term Loan Facility

  • Cash withdrawal from any PSBank ATMs

Release of Flexi ATM Card

Delivered via courier to place of work

Loan Application Turn-Around-Time

  • Application Encoding to Credit Decision

  • Booking of Approved Loan Application

  • Delivery of Flexi ATM and card PIN

5-9 working days

 

  • 1-3 working days

  • 1 working day

  • 3-5 working days

Annual Fee and Renewal Fee

PhP1,500 or 1% of  the approved credit line whichever is higher. Flexi Loan is subject to Renewal Fee at a fixed amount of Php1,500 yearly.

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 and Cirrus ATMs: US$3.50 + PhP20.00 per withdrawal; US$1.00 per balance inquiry

Credit Line Validity

Renewable yearly

Maximum amount that can be withdrawn in a day

PhP50,000 in all PSBank and Metrobank ATMs

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

You are advised of your account details via:

  • Statement of Account delivered to your preferred mailing address

  • Online in PSBank Remote Banking  where SOA in PDF and Loan Account Summary can be viewed

  • Email

PSBank Flexi Personal Loan ATM Card Activation

You may call Customer Service at (02) 845-8888 anytime, any day

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Qualifications

 

Citizenship

Filipino

Residence

Philippines

Age

At least 22 years old to 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 cardholder

  • With residential landline or mobile number, business landline and email addres

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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)

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How to Apply

 

A copy of the PSBank Flexi Personal Loan application form (in PDF format) is also available here for downloading.  Click here to download PSBank Flexi Personal Loan Application Form.

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PSBank Flexi Accredited Merchants

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Contact Information

 

For more information, please contact Business Center at (632) 944-1590.

 

You may also get in touch with us through our PSBank Customer Service anytime, any day; or visit any PSBank branch near you.

 

 

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Member: PDIC.
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for Each Depositor: PhP500,000.
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