Pandagdag puhunan? Sa PSBank, simple lang.
In business, opportunities come fast, and they often come knocking only once. Getting enough capital within a short period can make all the difference.
The PSBank SME Business Credit Line is designed to give entrepreneurs of small and medium businesses, like you, the working capital boost you need. It empowers you to grow your business with confidence and convenience. So whether you need to increase your working capital, stock your inventory, or expand your square footage, our credit line for SME businesses is the right answer to your financial needs.
Get quick access to funds. Enjoy one of the lowest interest rates in the market. No need to sign promissory notes or to visit the branch whenever you need funds.
Line Amount |
|
Purpose |
Working capital |
Line Expiry |
365 days from the date of first billing cut-off renewable annually |
Interest Rate |
At competitive SME Business Credit Line rates |
Interest Repricing |
Every start of billing period/monthly, as indicated in the monthly Statement of Account |
Modes of Availment |
|
Repayment |
Every 10th of each month equivalent to minimum amount due (interest, any past due amount, penalties, excess availment, documentary stamps) as indicated in the Statement of Account |
Collateral |
|
Modes of Payment |
|
Turnaround Time |
Approval within 20 banking days from submission complete documents |
- Quick Access. Instant funds for your business needs that can't wait. No need to sign promissory notes or call/see the branch whenever funds are needed.
- Convenience of availment. Clients can issue checks even during weekends/holidays or after banking hours. Instant funds!!! No more hassle, no more waiting.
- Flexibility to borrow for short-term periods or when you want to pay the loan back quickly.
- Savings on interest charges. Pay the principal amount anytime, when you have excess cash, then borrow again when you need it.
NEW ACCOUNTS
Processing and Handling Fee |
Fixed at PhP4,750 regardless of loan amount |
Documentary Stamps on availment |
Billed to client monthly, computed in ILS based on ADB of Outstanding availment for the billing period |
Documentary Stamps for Real Estate Mortgage Registration |
Loan amount x 0.004 + PhP20 Note: Always round up to the nearest peso; If with secured and unsecured portions, DST to be computed for the SECURED portion only |
Notarial fee |
PhP500 per document |
Appraisal fee |
For New Accounts and Additional or Change in Collateral requests for existing accounts: PhP3,500 per title + PhP500 per additional title in same location or PhP3,500 per additional title in a different location |
Title Handling Fee |
PhP1,500 per title |
Credit Life Insurance (CLI) | Loan amount x 0.0048 |
Fire Insurance |
Depends on appraised value of improvement on collateral |
Registration fees for New and Additional Real Estate Mortgage (REM) |
Actual registration fees per Registry of Deeds fees schedule / (assessment + service charge) |
Cancellation of Previous Real Estate Mortgage (REM) |
Actual cancellation fees per Registry of Deeds fees schedule / (assessment + service charge) |
Cancellation of Sec. 4 Rule 74 (annotation on the title) |
PhP1,804 shall be charged plus PhP300 for every additional title plus applicable out of town charges if collateral is located outside Metro Manila. |
Cancellation of Sec. 7 RA 26 (annotation of court order and finality on title) |
PhP2,191 shall be charged plus PhP300 for every additional title plus applicable out of town charges if collateral is located outside Metro Manila. |
Other Miscellaneous fees related to REM registration |
Based on loan amount and actual registration fees per Registry of Deeds fees schedule / (assessment + service charge) |
POST - BOOKING FEES AND CHARGES
Issuance of Cancellation Documents |
|
Pre-termination charges |
FREE OF CHARGE |
Penalty Charges for Returned Checks |
Penalty charges shall be computed as follows: Amount of returned check x 3% x no. of days (date paid - date of availment) / 30 days |
Safekeeping fees |
A fee of PhP2,000 Shall be charged if collateral loan document/s is/are unclaimed after 90 days to 120 days from loan closure date. An additional fee of PhP1,000 shall be charged for every 30 days succeeding the 120-day period. |
OTHER FEES AND CHARGES (If applicable)
Late payment penalty fee |
3% per month or a fraction thereof shall be added on each unpaid installment from its due date until fully paid. |
Attorney’s fees and Liquidated Damages |
In case the Bank / Financial Institution should engage the services of counsel to enforce its rights under this Agreement, the Borrower / Mortgagor shall pay an amount equal to ten (10) percent of the outstanding Loan and Secured Obligations which in no case shall be lower than PhP50,000. The Borrower / Mortgagor shall likewise be liable for and bear the costs of legal fees and expenses entailed in the foreclosure, collection, and/or enforcement of this Agreement. |
RENEWAL OF ACCOUNTS
Processing / Handling Fee |
Fixed at PhP4,750 regardless of loan amount |
Note: All aforesaid fees and charges will take effect immediately and may be cancelled or modified anytime at the Bank’s sole discretion without any prior notice.
A cooling-off period of two (2) banking days is granted from the signing of the loan documents and/or payment of applicable bank fees, whichever comes first. During the cooling-off period, the borrower may cancel or terminate the loan without penalties, by submitting a written notice to the Bank, provided that the loan proceeds have not been released; and he/she shall be entitled to a refund of any fees or payments made, if any and as applicable, except for appraisal fees. The Bank, however, reserves the right to collect reasonable processing and administrative fees to cover the costs incurred during the loan processing. The cooling-off period is available for financial consumers who are individuals, or micro and small enterprises as defined in applicable DTI regulations.
Truth and Transparency in Lending
Enhanced Implementation of the Truth in Lending Act (Republic Act 3765)
The State protects its citizen from a lack of awareness of the true cost of credit to the customer by assuring a full disclosure of such cost and other terms and conditions with a view of preventing the uninformed use of credit.
As such, a disclosure statement is a required attachment to the loan contract. It shall include, at a minimum, the following information:
1.) Total amount to be financed
2.) Finance Charges and all other charges incident to the loan
3.) Net proceeds of the loan
4.) Schedule of Payments
5.) The percentage that the finance charge bears to the total amount to be financed expressed as an Effective Interest Rate (EIR)
Important Notice: The Bank is required to provide the borrower a copy of the disclosure statement prior to the consummation of the credit transaction.
For more information: