Philippine Savings Bank (PSBank) makes auto loan payments a more rewarding experience by offering rebates to clients who settle loans before they are due and to those who pay more than the minimum amount required for a payment period.
The rebate is automatically reflected on a client's remaining loan with PSBank.
"PSBank Prime Rebate is the only solution in the market today that addresses the customers' desire to keep their borrowings at a minimum and finish paying their loans quickly. It is our way of rewarding them and giving more value to their hard-earned money, especually in these difficult times," PSBank president Pascual Garcia III said.
Loan payments to PSBank may be made through any of the bank's 170 branches and 298 ATMs nationwide.
PSBank is one of the country's key players in consumer banking, and is known for fast loan approval of only 24 hours. Company executive vice president Rolando A. Rodriguez said at least ten percent of the market or one in every ten cars sold are financed by PSBank.
PSBank, a member of the Metropolitan Bank and Trust Group, has also automated its system to simplify the application process of clients interested in tapping the bank for auto loans. Loans at PSBank carry an interest rate of at least 5.99 percent, depending on the financing terms.