PSBank offers rebates on term loans

MANILA, Philippines - The Philippine Savings Bank (PSBank) is offering the PSBank Prime Rebate, the first ever loan rebate program in Philippine banking. It offers rebates for advance or excess payments on all new and existing term loans.

This includes PSBank Auto Loan, PSBank Home Loan, PSBank SME Term Loans, and PSBank Flexi. An advance payment is when a client pays his loan before the scheduled monthly due date.

An excess payment is when a client pays on the monthly due date but in excess of his monthly due. Rebates on advance or excess payments are computed on a daily basis (including weekends and holidays), starting on the date the payment is posted, and credited every due date. There is no minimum amount of advance or excess payment for loans to earn a rebate.