Broaden the use of your home by using it as a collateral to finance the renovation of your home or refinance your loans.

With PSBank Home Credit Line, you’ll enjoy a revolving credit line, low interest rates, flexible terms, and convenient payment methods.

Applying for a loan has never been this easy. Simply fill out the application form and send the document to us. You will get a credit decision through SMS within just five days. No more long weeks of waiting. With PSBank, we make things simple.



Facility

Revolving Credit Line

Purpose

Renovation and Refinancing

Line Amount

• Minimum of PhP500,000 and maximum of PhP5,000,000

• Up to 70% of appraised value of house and lot or townhouse, or 60% of appraised value of condominium, duplex or vacant lot, but not to exceed PhP5,000,000

Processing Time

Notification of credit decision in five banking days or less via SMS

Interest Rate

Prevailing Home Credit Line rate at time of availment

Interest Fixing

Every start of billing period

Mode of Availments

Personal PSBank Revolving Credit  Line Check or ATM Card

Repayment Plan

Minimum amount due is interest only, plus any past due amount, penalties, and excess availments, as indicated in your monthly Statement of Loan Amount

Modes of Payment
  • Online Payment using your enrolled deposit account through PSBank Online and PSBank Mobile
  • Automatic Debit Arrangement from a PSBank deposit account
Collateral

First Real Estate Mortgage (REM) over an acceptable residential property

  • Opportunity to provide a better life for the family

  • Financial flexibility

  • Convenience of availment

  • Lower interest rate than most personal loans

  • Fast credit decision – five banking days or less
ATM Service

ATM withdrawal shall be subject to a PhP20 fee per transaction, on top of the usual BancNet fees.

Line availment fee

All availments against the Line will be subject to Documentary Stamp Tax at a rate of PhP1.50 on each PhP200 amount availed. 

The DST will be computed per availment but posted to your loan account at the end of each billing period.

Request for checkbook
  • Credit lines  PhP50,000 and up:
    • initial checkbook is FREE
    • PhP250 per checkbook (succeeding checkbook requests)
  • Credit lines less than PhP50,000:
    • PhP250 per checkbook
Credit line renewal fee

An annual fee of PhP2,000 will be billed to your account

Card replacement fee

PhP200 for each lost/stolen card

PIN replacement fee
  • via ATM – FREE
  • via PSBank branch – FREE
Processing of loan certification

A fee of PhP100 will be charged

Transmittal of loan documents to another branch

A fee of PhP100 will be charged

Pre-termination charges / Early settlement fee

FREE OF CHARGE

BOOKING FEES AND CHARGES

Appraisal and title handling fees

PhP5,000 per title (waived if acquiring from an accredited developer of the Bank)

Processing fee

Fixed fee of PhP5,000

Documentary stamp tax

PhP1.50 for every PhP200 and a fraction thereof 

Credit life insurance

Credit Life Insurance from AXA Philippines to cover the full amount of the loan or at a maximum coverage of  PhP8M (for borrowers 18 to 45 years old) or  PhP7M (for borrowers 46 to 64 years old), whichever is lower.

Mortgage registration expenses

Cost of annotation of Real Estate Mortgage and Register of Deeds fees

Miscellaneous fees

Service providers' fees + notarial fee of  PhP500

Cancellation fee

Cost of cancelling previous mortgage and/or other liens, encumbrances (if any)

Fire insurance / Contractor's all risk insurance

• Fire insurance coverage may be coursed thru Charter Ping An Insurance Corporation or an accredited insurance provider of the Bank. (not applicable if collateral is a vacant lot)

• For Construction Loans, contractor's all-risk insurance coverage will be required upon reaching 30% project completion.

POST-BOOKING FEES AND CHARGES

Notarial and Cancellation Certificate fee

PhP500

Safekeeping Fees

In case the loan documents are unclaimed within 90 days after the date of full payment, a safekeeping fee of PhP1,000 shall be charged automatically on the 91st day. If the documents are still not claimed after 120 days, an additional amount of PhP500 will be charged every month (30 days).

LATE SUBMISSION FEE OF INSURANCE POLICY RENEWAL (Credit Life and Fire)

31 to 44 days from expiry date

PhP200 shall be charged for late submission of insurance policy renewal documents

45 to 59 days from expiry date

Documentary Stamp Tax (DST) shall be charged

60 days and beyond

Short Rate Charge (which varies per premium amount and inclusive period) shall be charged

 

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 of litigation, borrower shall pay an additional sum equal to 25% of all amount outstanding (but not less than PhP5,000)as attorney’s fees and the further sum of 10% (but not less than PhP1,000) as liquidated damages, in addition to cost and other expenses of litigation.

Notary fee for release of cancellation of real estate mortgage

A notary fee of PhP300 shall be charged for the release of Cancellation of Real Estate Mortgage.

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.

  • Completely filled-out PSBank Home Loan application form
  • Cash or Check payable to Philippine Savings Bank as non-refundable payment for appraisal fees
  • Photocopy of Transfer/Condominium Certificate of Title (TCT/CCT)
  • Valid photo-bearing IDs with signature
  • Copy of Marriage Contract (if married)
  • Copy of Court Decision on Annulment and Certificate of Finality of Decision (if annulled)
  • Copy of Court Decision on Legal Separation and Certificate of Finality of Decision (if legally separated)

  • If applicant is employed: 
    • Latest Certificate of Employment
    • Income Tax Return or BIR Form 2316 or 2306

  • If applicant is in business or in professional practice: 
    • Latest BIR Form 1701
    • Latest audited Financial Statement with BIR stamp

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:




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