Introducing: Plantersbank’s Mortgage Optimizer

 

Thursday, September 8, 2005

Business gains without the pains

There’s no reason for you to miss out on opportunities because Plantersbank can help you turn your dreams to reality. Take your enterprise to a whole new level with Plantersbank Mortgage Optimizer, the financing facility to power up your business.

Borrow from P500,000 up to P5 million at a very affordable monthly amortizations as low as P13,333.33. With Plantersbank Mortgage Optimizer’s rate protection advantage, you can plan for business growth and manage your finances with the confidence that you’re fully covered from spiraling cost of funds for the entire term of your loan.

What makes Plantersbank Mortgage Optimizer even better is that there are less documents required and we can process your application in as fast as 10 working days!*

Other Features:

  • Choose a term of 6 months to 5 years or a 1-year revolving credit line.
  • Interest Rate:
    o Term Loan - fixed for the entire term of the loan
    o Revolving Credit Line - at market rate; repriced monthly.
  • Acceptable collateral are residential or commercial real estate properties
  • Access through issuance of personalized checks or ATM for Revolving Credit Lines

Qualifying Criteria:
For single Proprietors/Partnerships/Corporations

  • Has been in existence for the past 3 years
  • Profitable operations for the past 3 years
  • Gross monthly sales of at least P100,000.00

For Individuals

  • Must be at least 21 years old, but not more than 60 years old upon maturity of the loan
  • Professionals with at least 3 years of practice earning a minimum of P100,000/month
  • Fixed salaried individuals with a combined take home pay of at least P50,000 and must be employed for at least 3 years with present employer

    • Documentation Requirements:

    For those engaged in business

    • DTI or SEC papers
    • Certified True Copy of the Articles of Partnership/Incorporation & By-Laws
    • BIR-stamped ITR/Balance Sheet & Income Statement for the past 3 years/In-House financial statement
    • Latest Interim Financial Statement
    • Bank statements for the last 3 months

    For Employed Individuals

    • Copy of Form W2-2316
    • Certificate of Employment
    • Any 2 valid IDs (Passport, Driver’s License, Company ID, SSS/TIN)

    Collateral Requirements

    • Copy of TCT/CCT
    • Updated Tax Declaration & RETRs
    • Vicinity Map / Location Plan / Lot Plan
    • Master Deed of Restrictions (for condominiums)
    • Building Plan
    • P3,500 non-refundable appraisal fee

    Application Steps:

    1. Fill out an application form

    • Online Forms:
      - Corporation/Partnership
      - Individual/Sole Proprietor

      • or

    • Download pdf version**
      - Corporation/Partnership
      - Individual/Sole Proprietor

      • 2. Submit all required documents indicated in the application form.
      3. Plantersbank to process your loan.
      4. Loan approval after 10 working days submission of complete documents.
      5. Loan Account Officer will get in touch with you for the succeeding steps.

      For more inquiries and applications: Call (02) 812-1091 or 887-1000.

      * Provided that all required documents are submitted
      ** Download Adobe® Reader® to view and/or print the documents.

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