The Philippine Bank of Communications (PBCOM) initiated its operations on 4th September 1939 at the Trade and Commerce Building on Juan Luna Street, located in the budding metropolitan Manila. Another branch of PBCOM was opened in Taiwan, one of the first non-American overseas commercial banks to function in Philippines. Since the inception, PBCOM has embraced a corporate image and continue to gratify their customers’ changing lifestyle through ground-breaking monetary solutions and unparalleled customer service.
You’re probably eligible for an PBCOM Housing Loan if you are
At least 21 years old
Less than 65 years old
Salaried / Self-employed
with regular income
Your PBCOM Housing Loan amount eligibility is based on these factors
EMI limited to about 50%
of monthly income
Loan capped at P2,000,000 or 80% of the cost of property
EMIs of other loans lower
Increase your eligiblility for PBCOM Housing Loan amount by these steps
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 20 years
Alternatively add your parents
Documentation needed to apply for an PBCOM Housing Loan
- 1.Duly filled housing loan application form
- 2.Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID etc
- 3. Copies of the last 6 months’ bank statements or deposit passbooks
- 4.Documentation for salaried applicants:
- Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year
- Original copy of Certificate of Employment
- Photocopy of last full month pay slip
- 5. Documentation for self Employed applicants:
- Photocopy of Business Certificate
- Income Tax Return (ITR) copy with BIR or bank stamp
PBCOM Housing Loan DetailsUpdated on 16 Jan 2017
|Margin of Finance||Up to 80%|
PBCOM Home Loan
One of the largest impediments to purchasing a house is accruing that wads of cash for the initial or down payment. As an average estimate, it could take at least a decade to save up a good 15 percent. With the introduction of numerous new loan options, soon-to-be home owners with nominal funds at the time can solve this issue easily, says PBCOM bank. And there is no need to comb through the umpteen regulations and fine print to unearth the most economical housing loan. After all, PBCOM is reputed for its scrupulous and transparent banking. There is no exceedingly tight mortgaging standards and hence hundreds of worthy debtors are getting an opportunity to build funds through owning a dream house at a time when the interests are generally low.
Enjoy the comfort of your own space through PBCOM Home Loan with reasonable interest rates and repayment tenures. Once you submit the filled-up application form and required documents (Id and income proofs), the approval process will be done in a jiffy. The amortization per month is amazingly affordable, which will go towards your interest and principal sum. You can also expect a personalized service with a PBCOM staff at your beck and call. The minimum home loan amount given by the bank is 500,000 php and the maximum sum allowed is up to 2 crore php or 80 percent of the assessed value of the property with tenures as long as 20 years.
Acceptable purpose of home loans as per the PBCOM rules are:
- To buy a house or property, a townhouse, a residential apartment house or unit or a residential vacant portion of condominium
- To construct or renovate a house
- To refinance your current home loan
- To pay back for a house you have bought or to cover the construction expenses
- To buy a property for miscellaneous purpose (like a shop house) which is normally classed as ‘residential’
Regular fluctuations in interest rates do not impact the interest rates at all, which will be fixed during the entire term. But you do have the option to refinance if the rate dips considerably. Instalments can be paid online or via cheques.
- You can apply if you are of at least 21 years of age and will not be older than age 65 until the completion of loan tenure.
- Home loans are given to Filipinos, Filipinos living abroad, foreigner working/ residing in Philippines (with valid visa requirements)
- You need to submit proof of family income (at least 50,000 php per month) whether you are an employee, run your own business or an experienced freelance professional.
Documents for Home Loan Request Appraisal
- A duplicate copy of the TCT or CCT
- A duplicate copy of your most recent income tax statements
- A duplicate copy of your property map and area map
- A duplicate copy of the approved construction plan as well as the building permit
- Stack of bills for building materials and other requirements
Personal info and income proofs to be submitted:
- A filled out and signed application form
- Employment contract with remuneration details
- Marriage contract if applicable
- At least 2 national identity cards bearing your photo and sign.
- Duplicate copy of your most recent income tax return papers or Form 2316
- If you run your business, duplicate copy of your business registration document, bank statements of the previous three months and the latest audited fiscal declarations and statements.
- Self-employed or professionals should provide references from minimum three customers and/ or dealers with their contact info.
Other Products from PBCOM