Philippine Bank of Communications

PBCOM

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The Philippine Bank of Communications

1. Age

Age from

2. Time to review

From application to receipt of money

3. Other conditions



Product Overview

Product Name:PBCOM Personal Loan
Minimum Amount of Loan:PHP100,000.00
Maximum Amount of Loan:PHP1,000,000.00
Minimum Loan Tenure:12 months
Maximum Loan Tenure:48 months
Early Repayment:Yes

Eligibility and Requirements

Age Range of Borrower:25-65 years old
Minimum Annual Income:PHP420,000.00
Income Requirement Remarks:Apply for a monthly income of PHP35,000.00
Employment / Work Status:Permanent Employee/Self-employed
Borrower has to have Credit Card:Yes
Guarantor Required:No
Collateral Required:No
Need to Open Linked Bank Account:No

Application and Approval

Approval Duration:3 to 5 days
Approval Duration Remarks:Get approved once all documentary requirements are submitted and application details are confirmed by the bank.

Fees and Charges/Penalties

Loan Processing and Dispersal Fees:PHP2,500.00 processing fee
Early Repayment Penalty:PHP800.00 or 5% of the total outstanding balance whichever is higher
Late Payment Penalty:PHP500.00 or 3% of installment amount due whichever is higher

Interest Rates Offered

Product Name:Interest RateEffective Interest RateInterest Type
PBCOM Personal Loan - 12 months less than 200k1.63%Monthly Rate
PBCOM Personal Loan - 18 months less than 200k1.64%Monthly Rate
PBCOM Personal Loan - 24 months less than 200k1.65%Monthly Rate
PBCOM Personal Loan - 36 months less than 200k1.71%Monthly Rate
PBCOM Personal Loan - 48 months less than 200k1.78%Monthly Rate
PBCOM Personal Loan - 12 months 201k above1.58%Monthly Rate
PBCOM Personal Loan - 18 months 201k above1.58%Monthly Rate
PBCOM Personal Loan - 24 months 201k above1.60%Monthly Rate
PBCOM Personal Loan - 36 months 201k above1.66%Monthly Rate
PBCOM Personal Loan - 48 months 201k above1.71%Monthly Rate
PBCOM Personal Loan - 12 months for Self-Employed1.78%Monthly Rate
PBCOM Personal Loan - 18 months for Self-Employed1.79%Monthly Rate
PBCOM Personal Loan - 24 months for Self-Employed1.81%Monthly Rate
PBCOM Personal Loan - 36 months for Self-Employed1.88%Monthly Rate
PBCOM Personal Loan - 48 months for Self-Employed1.96%Monthly Rate


About The Philippine Bank of Communications Inc. (The Philippine Bank of Communications )

Philippine Bank of Communications (PBCOM) bank provides the clients with the necessary financial help for the business or individual grows. Mr. Lucio Co is the strategic investor who has made the bank to grow and put its names in the corporate world. He took up the position in 2014 and the board members can attest that he has done a good job in growing the business.

PBCOM bank is mainly focused on trade partners, groups of suppliers, service providers among others.   The bank continues to grow and taping into the new markets to ensure it has a larger market share. The firm also uses the latest technology to improve the consumer’s experience.

History of the PBCOM Bank

PBCOM Bank started its operations way bank on 4th September 1939. It was one of the American foreign commercial banks in the Philippines.  The bank ceased offering its services during the Japan occupation but later resumed after World War II.

In 1946 the PBCOM merged with the Manila Clearing House Association which led to the opening of the Cebu branch. Later in 1995, the PBCOM was listed on the Manila Stock Exchange which saw the banking introducing its shares to the public for the first time. The bank has since grown and in 2013 it made P1.4 billion net income. The bank also had a 70% improved which is a good sign.

In 2000, PBCOM started taking bolder steps to become a modern and competitive commercial bank. The major shareholders demonstrated their commitment to the Bank by investing £2.6 billion in new capital, making PBCOM one of the largest commercial banks capitalised. In the same year PBCOM also acquired Consumer Savings Bank, a commission bank with 19 branches and a strong presence in the retail market. In 2001, PBCOM relocated its headquarters from Binondo to PBCOM Tower, then the tallest building in the country, located in the centre of Makati.

Today PBCOM enters the next phase of its growth and development with the aim of providing world-class customer service, expanding its distribution network to provide banking services and introducing new products and services. The Bank is ready to expand its range of financial solutions, which range from deposits and investment services to cash management solutions as well as commercial and personal loans.

Main branches and ATMs of the Bank

The headquarters of PBCOM is located in Makati. However, the bank has other main branches in Luzon, Mindanao, and Visayas. 89 branches are spread in these regions.

There are three types of loans that the company covers and they include personal, auto and bike loans. The interest rate for the loan starts from 1.58% to 1.96% depending on the terms of the agreement.
Personal loans one can borrow as low as PHP 40,000 to a maximum of PHP 1,000,000. The interest rate is fixed but depends on whether one is a credit cardholder or not. The loan tenure starts from 12,18,24,36 and lastly 48 months.

Ownership and owners of the PBCOM Bank

The bank also deals with houses and vehicles which they sell to their consumers. This particular business contributes to the net income hence making the PBCOM successful.

Lucio Co currently owns 49.9% of PBCom. Mr. Co, Filipino, 63 years old, was elected Director on September 29, 2014. He is a member of the Board of Trustees of Adamson University and Luis Co Chi Kiat Foundation, Inc. Mr. Co has been an entrepreneur for the past 40 years.

Social media accounts

Facebook https://www.facebook.com/PhilippineBankofCommunications

 



Contacts

  • Address: PBCOM Tower, 6795 Ayala Avenue corner V.A. Rufino St. 1226 Makati City, Philippines
  • Phone: +63 2 777 2266
  • Email: [email protected]

FAQ


For Salaried Individuals

  • Completed and signed application form
  • Two (2) valid government-issued IDs with photo and signature
  • Two (2) months most recent credit card statements
  • Front copy of credit card
  • A copy of the latest Income Tax Return (ITR) of the borrower
  • Latest three (3) months pay slips upon loan application
  • Certificate of Employment (Optional)

For Self-Employed Individuals

  • Completed and signed application form
  • Two (2) valid government-issued IDs with photo and signature
  • Post Dated Checks
  • Two (2) months most recent credit card statements
  • Front copy of credit card
  • A copy of the latest Income Tax Return (ITR) of the borrower and his co-maker, if applicable
  • Latest Audited Financial Statements
  • Photocopy of Certificate of Business Registration with SEC or DTI (if loan purpose is for business use)

You can pay your monthly amortization via Post Dated Checks or Automatic Debit Arrangement.

  • Applicant must be 25 to 65 years old (must not be older than 65 years old upon loan maturity), Filipino citizen or local resident foreigner who live within PBCOM business center locations (Local resident foreigners need to present Immigrant Certificate of Residency OR documents as required by Executive Order 226 OR Visa and work permit), must have an existing locally-issued credit card of at least one (1) year and with a minimum credit limit of PHP 30,000.00. Income of applicant must be within the minimum income required by PBCOM as follows:

If Salaried:

  • Must have a minimum Gross Annual Income of PHP600,000.00
  • Must be a regular employee

If Self-Employed:

  • Must have a minimum Gross Annual Income of PHP600,000.00
  • Business must be 3 years in existence or 1 year practicing professional

 

Optional Income Requirement to facilitate FASTER processing:

Original Certificate of Employment with a Top 1,000 Corporation. COE must include position, date of employment, tenure and gross annual income.

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