• Home Loan BYTES FROM OUR KITCHEN

    Philippine National Bank Home Loan

    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

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    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

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    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

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    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

    The bank offers a unique home loan product exclusively to Filipinos and non-Filipinos who are working or residing in Singapore and in other countries to buy residential real estate properties in the Philippines.

    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.

    Type of Philippine National Bank Home Loan

    The home loan offered by the bank to Filipinos and non-Filipinos is called the “Own a Philippine Home Loan” or OPHL.

    Features and Benefits of the Philippine National Bank Housing Loan

    • This is a secured loan wherein the collateral will be the REM or Real Estate Mortgage of the property for which you require a home loan.
    • You can use this loan for purchasing a house & lot, a lot, condominium, row house or townhouse. You can also use this home loan for the purpose of home improvement or construction.
    • Other purposes of this housing loan includes reimbursement of the construction or acquisition expenses.
    • Refinancing option is available if you are currently repaying a Philippine Peso home mortgage loan.
    • Loan financing:
    • Up to 70% financing of the property’s verified selling price or according to the contract/reservation/agreement to sell that has been entered into by the borrower and the real estate developer/seller. For projects that are not accredited by PNB, financing up to 70% of the AV or Appraised Value will be offered.
        • This is applicable for properties that have been acquired by projects accredited by PNB of developers also accredited by PNB. Properties include purchase of lots with ongoing/proposed construction/newly built houses, condominium units, row houses and townhouses.
      • Financing up to 70% of the Appraised Value for house and lot constructions.
      • Financing up to 70% of the Appraised Value for home improvements of the lot and bill of materials for the improvement/renovation.
      • Financing up to 70% of the Appraised Value of the property yet to be acquired in case of secondary market lots including planned improvement expenses. Secondary market lots include houses, townhouses, row houses and condominium units.  
      • Financing for lot purchases up to 60% of the verified selling price or according to the contract/reservation/agreement to sell that has been entered into by the borrower and the real estate developer/seller. For projects that are not accredited by PNB, financing up to 60% of the Appraised Value will be offered.
      • In case of refinancing or take-out, financing up to 70% of the property’s Appraised Value or the principal outstanding balance will be offered, depending on whichever of the two is lower.
    • The loan amount will be released either in Philippine Peso or United States Dollar:
      • In case of property purchase, loan refinancing or reimbursement, the entire amount will be released at the time same time.
      • In case of home improvement, staggered amounts will be released up to 4 drawdowns. The last drawdown will be released when 90% of the improvement has been completed. Construction/improvement should be completed within 1 year.
    • Loan insurance:
      • The principal borrower must get a mortgage redemption insurance based on the loan amount before the release of the same. The insurance should be renewed every year depending on the outstanding balance.
      • Fire insurance should be equivalent to the property’s latest AV.

    Philippine National Bank Home Loan Interest Rates

    Philippine National Bank offers fixed interest rates for this home in the following ways:

    Loan Tenure Interest Rate
    1 year Fixed rate of 7.50% p.a.
    5 years Fixed rate of 8.50% p.a.
    10 years Fixed rate of 9% p.a.

    Philippine National Bank Housing Loan Fees and Charges

    To apply for this loan, a non-refundable processing fee is charged by PNB at the rate of US$150. The same will be collected from you when the bank starts processing your application.

    Philippine National Bank Home Loan for Foreigners

    The “Own a Philippine Home Loan” is directed at both Filipinos and non-Filipinos living in Singapore and in other countries wanting to buy a property in the Philippines. So, foreigners are eligible to apply for this loan for property purchase in Philippines only. This housing loan does not apply to property purchases outside the Philippines. Also, foreigners are limited on the purchase of properties that includes limits on lot areas, type of house that can be purchased, etc.

    Philippine National Bank housing Loan Eligibility Criteria

    The following individuals are eligible to apply for this home loan offered by PNB:

    • Filipinos who are residing/working in Singapore on a Filipino citizenship.
    • Citizens who are Filipino by birth but residing/working in Singapore and have lost their Filipino citizenship. Such individuals are only eligible to purchase lot areas of up to 1,000 sqm.
    • Foreigners are eligible to apply for this loan but only for the purchase of condominium units having a majority ownership by Filipino citizens or the Condominium Corporation’s foreign ownership should be a maximum of 40% as allowed by the Philippine Law.
    • Minimum annual income required is S$48,000.
    • The borrower’s TDSR (Total Debt Servicing Ratio) should be a maximum of 60% of the gross monthly income.

    Documents required for Philippine National Bank Home Loan

    To apply for this housing loan, documents need to be submitted by the applicant that includes identification documents, collateral documents and renovation/construction documents.

    Applicant documents include the following:

    • ID card issued by the Singapore government.
    • Passport issued in the Philippines (if applicable).
    • ITR or Income Tax Return for the past 2 years issued by the IRAS (Inland Revenue Authority of Singapore).
    • Employment certificate containing position, salary and employment term.
    • Last 3 months’ loan account statements and bank deposit statements with outstanding balances such as personal loan/line of credit, other loans, etc.
    • Most recent passport picture.
    • Marriage contract (if applicable).
    • Your Credit Bureau Report from the Credit Bureau Singapore (can be obtained online).
    • OPHL application form, completely filled-up.
    • A notarised copy of the Contract to Sell.

    Collateral documents include the following:

    • Copy of TCT (Transfer Certificate of Title) or CCT (Certificate of Title).
    • A Geodetic engineer certified vicinity map with a location plan.
    • Lot’s and building’s tax declaration (if applicable).
    • Tax receipt and tax clearance of the current real estate’s lot and building (if applicable).

    Documents for construction/renovation include the following:

    • A civil engineer/architect signed “Bill of Construction Materials”.
    • A civil engineer/architect signed “Floor Plan & Specifications”.

    How to Apply for Philippine National Bank Home Loan

    If you wish to apply for the OPHL loan with PNB, you can contact the bank at 65 6737 4646 for more details.

    Philippine National Bank Housing Loan Repayment

    • Tenures available include:
      • Maximum tenure of 20 years for the purchase of townhouse condominium unit, apartment unit, row house or house and lot and for house construction.
      • Maximum tenure of 10 years for lot/home improvement.
    • Modes of repayment:
      • The loan should be repaid in United States Dollar (USD) only. You can make the payment to PNB Singapore directly either through an auto-debit arrangement or through post-dated cheques.
      • Payments will start 1 month after the lump sum loan amount has been disbursed. In case of construction, the payment will start 1 month after the initial loan amount has been disbursed and monthly payments will increase as the rest of the loan amount gets disbursed.

    FAQ’s

    1. Philippine National Bank home loan refinance

      You can apply for the OPHL to refinance an existing Philippine Peso home mortgage loan. Financing up to 70% of the Appraised Value of the property or the principal outstanding balance, depending on whichever of the two is lower, is offered by PNB.

    2. Are there any processing fees associated with the home loan?

      A processing fee of USD 150 will be charged after the loan application process initiates. This charges is non-refundable.

    3. What is the maximum repayment time for a loan availed for house construction?

      A maximum period of 20 years can be availed when repaying the loan amount availed of house construction.

    4. How many drawdowns can happen in case of staggered disbursement of loan?

      A maximum of four drawdowns can happen in case of staggered release of the home loan amount.

    5. What is the rate of interest charged on the home loan for a tenure of 5 years?

      For a tenure of 5 years, a fixed interest rate of 8.50% per annum is charged.

    6. What must be the minimum annual income to apply for the Philippine National Bank Home Loan?

      The annual income (gross) must be at least S$ 48,000 for the applicant.

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