• Philippine National Bank Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Philippine National Bank is one of the biggest private sector commercial banks in terms of deposits and assets. It is a global bank providing customisable and innovative financial solutions to retail customers, small and medium enterprises and middle market. The bank also maintains account relationships with local government units, national government agencies, Philippine Government and GOCCs (Government Owned and Controlled Corporations). Philippine National Bank, commonly known as PNB, was established in the year 1916 as a government bank. Later on, in the year 2007, it was wholly privatized. PNB has a shareholder base that is broad and is a company that is publicly listed. Lucio Tan Group, one of the biggest conglomerates of Philippines is a major stockholder of Philippine National Bank.


    You’re probably eligible for an Philippine National Bank Home Loan if you are

    01
    02
    03
    04
    Philippine National Bank Home Loan Minimum Age

    21 years

     Philippine National Bank Home Loan Maximum Age

    65 years

    Philippine National Bank Home Loan Eligible Employment Type

    Salaried / Self-employed with regular income

    Philippine National Bank Home Loan Minimum Income

    S$24,000 for single and/or joint applicants


    Your Philippine National Bank Home Loan amount eligibility is based on these factors

    01
    02
    03
    Philippine National Bank Home Loan Minimum Salary

    up to 60% of monthly salary

    Philippine National Bank Home Loan Maximum Loan to property value

    No Info

    Philippine National Bank Home Loan EMI

    Existing Loan EMI - 3 months, 6 months, 9 months, 12 months, 18, months, 24 months


    Increase your eligible Philippine National Bank Home Loan amount by these steps

    01
    02
    03
    Philippine National Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Philippine National Bank Home Loan Maximum Tenure

    No Info

    Philippine National Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Philippine National Bank Home Loan DetailsUpdated on 04 May 2016

    Philippine National Bank Home Loan Details
    Min Loan Amount SGD 500.00
    Max Loan Amount SGD10, 000.00
    Max Loan Tenure Up to 10 years
    Interest Rates 80% of the SGD equivalent of Peso Deposit or 90% of the SGD equivalent of US Dollar Deposit
    Monthly EMI Up to 60% of monthly salary

    Why to choose Philippine National Bank Home Loan?

    Buying a home can be a matter of great pride, honour and joy. In today's world, going for a home loan when buying a house is definitely the right thing to do. It provides you with the upfront money that you require to own a house. OPHL, or Own a Philippine Home Loan is one of the best home loan products in the current financial market. People born in Philippines but working in Singapore can avail this home loan product along with the permanent residents of Philippines.

    Features and Benefits of Philippine National Bank Home Loan

    There are several features and benefits of this innovative home loan solution. Some of them are listed below, which will help you to understand more about the features and benefits offered by PNB.

    • The home loan amount can be used for acquisition reimbursement or cost of construction
    • Improve or reconstruct your house when needed using the loan amount
    • But a house and lot, rowhouse, townhouse or Condominium
    • The loan amount can also be used to refinance the mortgage loan of a Philippine Peso home

    What is the Loanable Amount from PNB Singapore?

    • A maximum of 60% of the actual selling price of the lot or according to the Agreement of Reservation signed between the property seller and the borrower
    • Loans can be availed for purchasing secondary including rowhouse, townhouse, condominiums, etc. up to 70% of the selling price of the property
    • A maximum of 70% of the property's appraised value can be availed for refinancing
    • In case of lot purchase with ongoing or proposed construction, rowhouse or townhouse, condominiums, etc. a loan amount of 70% of the actual selling price of the particular property can be availed. It may also depend on the Agreement of Reservation signed between the seller of the property and the borrower if the particular property is acquired from Philippine National Bank- accredited developer's Philippines National Bank- accredited project. For projects that are non-accredited, loan amount of 70% of the total appraised value can be availed

    The loan will be made secure by REM (Real Estate Mortgage) on the particular property that is being financed.

    While availing the loan, a lump sum amount can be released for refinancing, reimbursement or purchase of property. Staggered release of the loan amount will happen for case of home improvement and construction. A maximum of four drawdowns can a happen. The last drawdown will happens once the property under construction is 90% completed. The whole construction must be completed within the span of one year.

    • A maximum of ten years can be availed while repaying the loan amount taken for home improvement or purchase of lot
    • A maximum of 20 years can be taken for repaying the home loan availed for construction of house, house purchase, apartment, rowhouse unit, townhouse unit, etc.
    • The repayment must be made in US Dollars. Auto debit option or post-dated cheques, both methods can be used to repay the loan directly to Philippine National Bank
    • The monthly amortization amount will be adjusted downward or upward based on the rate of interest that is charged for a particular tenure
    • The repayments for the loan start once a lump sum amount is disbursed. It may also start after the initial loan amount release
    • Before the release of the home loan amount, the Mortgage Redemption Insurance must be secured by the main borrower, depending on the loan amount. Also, depending on the outstanding amount of loan, the insurance scheme must be renewed every year
    • The insurable property's current AV (appraised value) must be equal to the coverage amount of Fire Insurance
    Tenure Rate of Interest
    1 year 7.50% fixed
    5 years 8.50% fixed
    10 years 9.00% fixed
    • People of Philippines working in Singapore who have maintained their citizenship
    • People of Philippine working in Singapore who do not retain their Philippines citizenship anymore are eligible to buy a limited area of 1,000 sqm.
    • The gross annual income of the borrower must be at least S$ 48,000
    • The debt servicing ratio must not cross the mark of 60% of the gross income per month for the borrower

    Philippine National Bank Home Loan Documentation

    • Photocopy of identification card issued by Singapore
    • Valid passport and Income Tax Return from IRAS (Inland Revenue System of Singapore)
    • Last 2 months payslips
    • Employment certificate from the employer stating length of employment, designation and salary
    • Bank Statements along with Loan Account Statements
    • Certificate of marriage if applicable
    • Latest passport sized pictures
    • The OPHL form must be filled duly
    • Photocopy of CCT (Condominium Certificate of Title) or TCT (Transfer Certificate of Title) is required
    • A Geodetic Engineer must certify the plan of location along with the map of vicinity
    • Current Tax Clearance and Tax Receipts for the lot and building being purchased along with Tax Declarations for the same
    • A Civil Engineer must duly sign all the specifications of the property and the floor plan
    • The Civil Engineer must also sign the bill of materials required for the construction of the property

    Philippine National Bank Home Loan - Frequently Asked Questions

    A processing fee of USD 150 will be charged after the loan application process initiates. This charges is non-refundable.
    A maximum period of 20 years can be availed when repaying the loan amount availed of house construction.
    A maximum of four drawdowns can happen in case of staggered release of the home loan amount.
    For a tenure of 5 years, a fixed interest rate of 8.50% per annum is charged.
    The annual income (gross) must be at least S$ 48,000 for the applicant.
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.