PSBank Flexi Personal Loan Application
Published: February 4, 2015 | Updated: August 17, 2020 | Posted by: Moneymax | Personal Loan
Everyone has that something they want to make happen. Some things happen easier than others, but what about when you want to expand it a little more, to put a little more money into an endeavor you believe is worth the time and the finances you put into it?
This is where a personal loan comes in. Personal loans allow you to finance things closer to your heart or unforeseen expenses that you urgently need to meet. One of the options available to you is PSBank’s Flexi Personal Loan.
Why get PSBank Flexi Personal Loan?
PSBank’s Flexi Personal Loan has been changed to include “With Prime Rebate” as part of its title. But it holds the distinction as the first (and only) personal loan that doesn’t require collateral, includes a revolving credit line, and a fixed-term loan.
Apart from these, they also offer day and night banking via ATMs. The revolving credit line will allow you to make increases or decreases on the amount you took out on a loan depending on how much you have already paid. Note that a fixed-term loan means you are required to make payments towards the amount you borrowed over a certain period of time. In PSBank’s case, the amortization for the loan is either 24 or 36 months.
What is Prime Rebate?
The Flexi Personal loan also comes with the Prime Rebate function, meaning that borrowers can earn rebates or savings when you make an excess payment or pay in advance of your monthly due date.
If you make an advance payment, or a payment five days in advance of your loan’s monthly due date, you can earn a rebate on a daily basis from the day the payment was made up to the actual due date.
If you make a payment in excess of your monthly due, you can earn a rebate on a daily basis from the date you paid, and up to day before the next due date.
Essentially, you’re rewarded for making payments a little more than the amount due, and if you pay earlier than the due date.
Like any undertaking, PSBank will require documents from you upon application. In the case of the Flexi Loan, they will require the following:
- Completely filled out PSBank Flexi Personal Loan application form
- Photocopy of any of the following identification cards: Company ID, SSS, GSIS, PRC, Driver’s License, Passport or TIN (plastic card type), Firearms License, NBI Clearance, Integrated Bar of the Philippines ID
- Photocopy of BIR form 2316, 2306, 2307 or 1700 for employed applicants
- Photocopy of BIR form 1701 or 2317 for self-employed applicants and Auditor’s Report and Financial Statement with BIR Stamp
- Original copy of the latest credit card billing statement (with the client as the PRINCIPAL cardholder)
PSBank offers a minimum of PHP 20,000 a maximum of PHP 250,000 to anyone who wishes to take out a loan with them through this particular offer, and takes around five to nine working days to process, should you qualify for the loan.
A number of nifty perks come with the loan as well, so if you are looking to take out a loan, check out PSBank’s Flexi Personal Loan with Prime Rebate. It might just be the push your endeavor needs to get off the ground.
With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.