Guide on PNB Cash Loan Amount Limitations for Clients
PNB CASH LOAN AMOUNT – Here is a guide on how much you may borrow under the Personal Loan offer of the Philippine National Bank.
Are you looking for a bank that can help you address your financial needs? Now, one of the entities that you may turn to is the Philippine National Bank after it added on its list of loan offers the PNB Cash Loan.
Officially called the PNB Personal Loan, the multi-purpose loan offer is open for application for both salaried and non-salaried individuals. You may apply for it to finance a car repair, to pay for the tuition fees, to travel, etc.
How much is the loanable amount under the PNB cash loan offer? While the amount actually depends on the assessment of the bank based on certain factors like the capacity of the borrower, here is the range of the amounts allowed for borrowing:
- Minimum Loanable Amount — Php 10,000
- Maximum Loanable Amount — Php 2,000,000
The amount borrowed is payable from three (3) up to 60 monthly installments. According to the bank, loans below Php 500,000 can be amortized in 3, 6, 12, 18, 24 or 36 monthly installments. For loans that are Php 500,000 and above, it can be repaid in monthly installments of up to 60 months.
The borrowed amount will be credited to you PNB Savings Account. The Philippine National Bank also boasts its offer with a low monthly add-on interest rate — which can be as low as 1%.
Before deciding on the loan amount you want to apply for, it is best to know the fees and charges that the bank may apply under the offer. Here are the Philippine National Bank charges and fees under its offer:
- Processing Fee — P 1,500 to be deducted from loan proceeds
- Documentary Stamp Tax — P1.50 for every P200 approved loan amount or fraction thereof. Applicable for approved loan amount of P250,000 and above – to be deducted on loan proceeds
- Late Payment Fee — P500 or 5% of the overdue balance, whichever is higher
- Early Settlement Handling Fee/Service Fee — P500 or 5%, whichever is higher (computed based on the outstanding balance)
- Returned PDC Fee — Php 1,500
To apply for the offer, like in other loans, there are documents that must be prepared and submitted to PNB for the loan application evaluation. The list is the same for employed and self-employed loan applicants.
