Top 7 Philippine Banks Who Offer Low Interest Rates on Housing Loans
As time goes by, the economy here in Cebu, Philippines is also growing. Developments are everywhere. People increased in number. So right now is really the time to buy Real Estate here because of the vast potential of the industry.
People who buy House and lot and other properties like Condominiums and Commercial Property merely to use cash to pay the whole amount of the property. They just pay the Down payment and they just loan the Balance to the Banks that they trust so that they can catch up the Returns on Investment and some other reasons maybe.
As a Real Estate Property Consultant, I aim to help the buyers to be comfortable and feel secure when having a House Loan. So I made this list of Top 10 Philippines Banks Who Offer Low Interest Rates on Housing Loans so that they will not be stressed on thinking how to pay the Bank because it offers low-interest rates only.
Here are the list:
1. Security Bank Housing Loan
Security Bank Housing Loan starts at a low rate of 5.25% p.a. subject to a lock-in period. In example, if you are planning to loan P1,000,000 for 5 years with the 5.25% interest rate locked for a year, montthly amortization would amount to P18,986.00. You can also determine other amounts and interest rates by using the Security Bank Housing Loan Calculator.
2. Eastwest Bank Housing Loan
The East West Bank offers the East West Bank Housing Loan at the lowest rate of 5.50% p.a. with various options of lock-in periods, in which is a common lock-in periods of other banks. A penalty (up to 5%) will be charged on your outstanding loan amount if you are planning to make an early settlement of the East West Bank Home Loan within the 3 year period. The bank offers up to 80% of margin of finance for the Housing Loan, depending on the value of the property. The maximum loan period of EastWest Bank Home Loan is 30 years or up to age 60, whichever is earlier.
3. HSBC Home Loan
HSBC offers HSBC Housing Loan at lowest of 5.25% p.a. with various options of lock-in periods, in which is a common lock-in periods of other banks. A penalty (up to 5.00%) will be charged on your outstanding loan amount if you are planning to make an early settlement of the HSBC Home Loan within the 3 year period.
4. Union Bank Housing Loan
The Union Bank Housing Loan is offered at a very low rate of 5.50% p.a. with a standard lock in period of 1, 2, or 5 years. Union Bank can provide a margin of financing up to 70% depending on the value of the property. The MRI (Mortgage Redemption Insurance) policy has become part of housing loans, so that banks can avoid losing money if something happens to the borrower. The housing loan products also come with a maximum loan period of 30 years.
5. BPI Housing Loan
BPI offers BPI Housing Loans at the lowest rate of 5.50% p.a. with various options of lock-in periods, in which is a common lock-in periods of other banks. A penalty (up to 5%) will be charged on your outstanding loan amount if you are planning to make an early settlement of the BPI House Loan within the 3 year period. In terms of margin of finance for housing loan, BPI provides up to Direct 80% of margin of financing depending on the property value.
6. Chinatrust Bank Housing Loan
Chinatrust Bank offers a very competitive rate of 5.75% p.a., this is the lowest it can get. Chinatrust Bank Bank Housing Loan has various choices of lock-in periods, which is a common lock-in-period for many banks. If you are planning to make an early settlement within the 3 years period – through property sale or refinancing – you will incur a penalty of up to 5% on your outstanding loan amount.
7. Maybank Housing Loan
Maybank offers Maybank Housing Loan at a low interest rate of 6.00% p.a. with various options of lock-in periods, in which is a common lock-in periods of other banks. A penalty (up to 5%) will be charged on your outstanding loan amount if you are planning to make an early settlement of the Maybank Home Loan within the 3 year period.
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Now that you know what are the Banks who offer low-interest rates, let me help you to find the best property for you.
Want to buy or sell property?
We can help you with that.
We are selling all kinds of properties in Cebu and all over the Philippines.
We sell all kinds of properties worldwide.
Please do contact us at:
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Land Asia Realty and Development Corporation
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Are you in need of a loan? Do you want to pay off your bills? Do you want to be financially stable? All you have to do is to contact us for more information on how to get started and get the loan you desire. This offer is open to all that will be able to repay back in due time. Note-that repayment time frame is negotiable and at interest rate of 3% just email us (creditloan11@gmail.com)
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