Simplifying success: PSBank celebrates 64 years of excellence by helping Filipinos realize their financial goals

Philippine Savings Bank (PSBank) marks its 64th anniversary with a continued commitment to delivering simple, reliable, and innovative banking services that help Filipinos achieve their financial goals, from growing their hard-earned money, to homeownership, vehicle financing, and more. 

A Legacy of Financial Growth

PSBank’s sustained financial growth is fueled by strong loan demand and a customer-focused approach. In 2023, the bank achieved a record-high net income of PhP 4.53 billion, a 23% increase from the previous year. The first half of 2024 saw continued success, with net income reaching PhP 2.56 billion. PSBank stands as the leading thrift bank in the Philippines in terms of total assets as of end-March 2024, further cementing its strong position in the consumer banking sector and maintaining leadership in the auto loan market among local thrift banks.

PSBank helps provide a brighter future to underprivileged children through its CSR partners

Philippine Savings Bank (PSBank) renews support for the welfare of visually impaired, indigent and special children through the Bank’s annual donation to its corporate social responsibility (CSR) partners -- World Vision, Chosen Children Village Foundation, Inc. (CCVFI), and Resources for the Blind, Inc. (RBI).

PSBank donated a total of PhP300,000 to aid these three child-friendly organizations in providing shelter, basic necessities, education, and other special needs for the underprivileged children under their care.

World Vision commits in using the financial assistance to continue their programs for the welfare of underserved Filipino families. The organization spearheads community development initiatives and helps parents find a source of livelihood to better support their kids. They also provide emergency assistance to those affected by natural disasters.

PSBank made QR feature available in its Mobile app for safer banking in the new normal

Philippine Savings Bank (PSBank), the consumer banking arm of the Metrobank Group, made QR facility available in its Mobile App with the aim to provide another safe and secure way to bank amid the current health crisis situation. 

With this new digital service, customers no longer need to leave the comforts of their homes nor worry about their health and safety when managing their finances. 

Top 3 things to consider when planning to buy a house

Buying a home is one of the major financial decisions in most people’s lives. Your lifestyle, personal savings, spending habits are some of the things you need to take into account when considering to take a home loan for your dream house. Hence, the decision to buy a home must be made carefully. Here are the main factors you need to consider before applying for a home loan:

Type of property and location. The first step towards home ownership is determining the type of home that best suits you and your family’s needs.  Do you a have a child or planning to have more? Is one or two- bedroom enough or do you need a bigger residence for your growing family? Maybe you have an ageing parent that you may have to take in sooner than later? When looking at a possible home location, you also need to consider job opportunities as well as proximity to relatives, given Filipinos’ close-knit family culture.

First-time home buyer? Consider these important tips

The prospect of buying your own house is probably one of the most exciting financial step that you will ever make in your lifetime and careful planning is very important. In preparation for the realization of this goal, consider these important tips to help you prepare for home ownership.

Determine the true cost of the house. The monthly amortization fee is usually the largest part of the total expense related to the purchase of a real estate property. However, this is oftentimes not the full cost related to buying and maintaining a new house. As a general rule, the principal, interest, real-estate tax as well as insurance payment should not exceed 30% of your gross income. You also have to allot budget for homeowner association dues and utility expenses such as water, electric, phone and internet services. You may also need to buy new appliances and furniture for your new house. Over the long run, repair and maintenance cost should also be take into consideration.

Planning to buy a condo? Here’s the fastest way to owning your dream house

Making the decision to own a house could be daunting. But once you have crossed the line towards that life-changing decision, one of the most important steps you can make is to find the right lender who can address your home loan financing requirements at the fastest possible time and most convenient way possible.

Philippine Savings Bank (PSBank), the consumer banking arm of Metrobank Group, has set a 1-day home loan decision for the purchase of brand new condominium units and properties from accredited developers.