PRODUCT REVIEW OF PVB CAR LOAN
Public Notice – Disclaimer:
If you are looking specifically for PVB Car Loan, please visit their website at www.veteransbank.com.ph
The concept behind the Philippine Veterans Bank (PVB) came up when Japan was made to pay a total of 30 million USD for services, capital goods and cash as reparation for the damages of the World War II. As stipulated in the Republic Act 1789, 20 million of the 30 million USD is to be invested in a bank to cater the needs of the veterans and their families. On June 18, 1963, PVB was formally enacted as a private commercial bank conceived and managed by the veterans. Today, the bank offers a wide array of services and financial solutions, the most in demand of which is the housing loan. However, those looking for a PVB car loan can opt to get a multi-purpose salary loan instead to fund the purchase of a brand new or pre-loved car.
CAR LOAN AND OTHER OPTIONS
As PVB doesn’t have offer a dedicated auto loan product yet, veterans planning to buy their own car will have to settle for its multi-purpose salary loan. PVB’s salary loan may be used for medical expenses, house renovation, school fees, car purchase and other emergencies. Loanable amount can range from PHP 5,000 to PHP 300,000. This comes at an attractive interest rate on the borrower’s chosen term, which can be from 6 to 36 months.
REQUIREMENTS AND QUALIFICATIONS
You must be a current or retired employee of PVAO and the Philippine Military to qualify for a loan. For processing purposes, present these documents upon application:
- Birth certificate or any document to prove that you’re of legal age (21 to 70 years old)
- A photocopy of any Proof of Residence documents (e.g., Residence Certificate, Voter’s ID)
- Proof of Filipino Citizenship (e.g., Birth Certificate, Voter’s ID, Driver’s License) either naturalized or by birth
- Proof of Income (e.g., latest payslip, Certificate of Employment) showing that your gross monthly income is PHP 10K or more
For more information contact the PVB Branch nearest you or call (02) 840-2621. You can also visit their website at www.veteransbank.com.ph.
TALK TO EXPERTS ABOUT YOUR OPTIONS
Even if you’re qualified to get a PVB loan, make it a habit to explore more options when looking for a financial product. Here at Loansolutions.ph, we’ll give you the rare opportunity to select from a wide range of lenders who may offer you unique perks. All you need to do is accomplish our 3-Step Application Processes so that we’ll be able to review your documents and present these to our partner providers from all over the country. After you’ve filled up the form, you can monitor your loan status via our Loan Status Checker tool on site.