Filipinos strive to save money even with the meager salary they receive each month because of their commitment to becoming financially stable in life. To achieve this, it is imperative that they have a reliable and trusted partner. This is why the Philippine Business Bank, a Savings Bank, is essential in the management of the personal finance of Filipinos.
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Philippine Business Bank, commonly known as PBB, is a financial institution established on February 12, 1997 – that means more than two decades dedicated to helping Filipinos achieve their savings targets or apply for affordable auto and home financing. Its primary goal is to be the leading bank that offers a high-quality financial service for the Micro, Small, and Medium Enterprises (MSMEs) in the country.
Ambassador Alfredo M. Yao initially perceived PBB as a trusted bank meant to provide financial assistance for local entrepreneurs and small businesses across the Caloocan, Malabon, and Navotas (CAMANAVA) areas where businesses are less likely to experience financial programs. In the hope to give CAMANAVA entrepreneurs a chance to build and grow their businesses, PBB has started its full operation.
PBB remains true to its mission and continues to progress over the years with more than Php 120 billion assets at hand by 2020. It further managed to have a partnership with over 163 branch networks that help them thrive and achieve their intention to help build strong business communities.
The main office of PBB is located at 350 Rizal Avenue Ext., corner 8th Avenue, Grace Park, Caloocan City. Last February 2, 2022, the company’s branches nationwide started to open on weekdays from 9:00 A.M. to 4:00 P.M. except for local and national holidays.
Inquiries and complaints may be sent by filling out PBB’s Customer Complaint Form and submitting it to [email protected] or via fax machine at telefax no. (02) 363-8050 local 1035. They can also be reached out through calls at 363-3333.
Among its financial services, there are two main loan options that borrowers may apply for in PBB – Auto Loan and Home Loan.
Employed and self-employed individuals are eligible to apply for an auto loan with PBB and acquire comfort in traveling, not just for themselves but also for their families.
Borrowers must visit the physical branches to obtain loan information and begin the application process. However, they can prepare the following documentary requirements when they visit the branch to apply for an auto loan:
Note: If the applicant is abroad and a representative will apply on his or her behalf, a Special Power of Attorney (SPA) is required upon loan application.
Almost similar to the auto loan for individuals, an Auto Loan for a corporation or company enables applicants to apply for car financing for their businesses, either to increase their current transport requirements or to improve the existing ones.
Requirements
PBB offers this type of loan to purchase a house and lot or a lot alone, a condominium unit, or a townhouse. The loan amount may also be used to help an applicant construct, renovate, or refinance his or her dream house.
For the complete loan details, borrowers are encouraged to directly visit the PBB branch nearest them along with the requirements listed below to secure their home loan applications.
Requirements
Note: If the applicant is abroad and a representative will apply on his or her behalf, a notarized and consularized Special Power of Attorney (SPA) is required upon loan application.
Philippine Business Bank is not as popular as the bigger banks that operate in the country today but they offer competitive financial products and services which allowed them to be present and operational for the past two decades. Here are the top reasons why Filipinos should choose the Philippine Business Bank:
Despite having to physically visit their nearest branch, the application process when applying for a loan in this bank is swift, especially for employees who work under a company or employer in partnership with PBB.
Unlike online applications, a personal transaction also accommodates real-time inquiries from applicants who like to further clarify and/or raise additional concerns involving their loan application. Therefore, with this method of application, applicants will no longer wait for a customer service agent to address their concerns or questions but will receive answers right away.
Discovering a bank that offers you the best financial services is not that easy let alone getting one that offers a wide range of different loan options to choose from. Although PBB only offers two types of loans, the two loan products (Auto and Home Loans) are essential in the day-to-day lives of many Filipinos.
Straightforward documentary requirements are needed upon an applicant’s loan application. In fact, for employees and OFWs who are willing to avail of a PBB loan service, only documents that prove their personal identity, employment status, and capability to repay their loan are needed to become eligible for the service. No collateral or credit card is further asked for during the application process. Therefore, applicants who have no collateral at all to present may still be allowed to avail of the loan service.
As a growing bank for the MSMEs industry, PBB ensures that its services are easily accessible by companies across the country. It offers a corporate partnership where companies or employers enter into an agreement with PBB for smooth auto or home loan applications for their employees.
The only way to apply for any Philippine Business Bank’s services is through physical appearance. The following are the steps that will guide applicants to purchase a PBB loan program:
Click Home and check the Quick Links provided on the right side of the website.
Select the application form of the loan option you would like to apply for.
Fill out the application form with your correct and complete personal details.
Visit the nearest Philippine Business Bank branch.
Submit your completely filled out application form together with the requirements.
Purchasing a car or your dream home takes a lot of funds, to begin with. Fortunately, there are several loan options offered to provide immediate cash for Filipinos who need to turn these dreams into possibilities. Philippine Business Bank is among these trusted loan providers that not only extend help through a wide variety of financial services but also make it inclusive for everyone to achieve their dream car or home.
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