[ Manila Bulletin Online ] October 22, 2008
GE Money Bank, a savings bank, recently announced the extension of its 7.49% p.a. Home Loans promotion due to high market demand.
Since its launch in July, the bank has been receiving overwhelming response from customers, which has led the Bank to extend the promo until December 15 of this year. GE Money Bank reported a growth of 33% in housing loans from the previous quarter since the launch of the 7.49% p.a. first year fixed rate promotion. The promo also waives the application fee, mortgage registration fee, notarial fee, documentary stamp tax, and the appraisal fee for approved and availed home loans.
In effect, the Bank waives switching charges for those who plan to move their mortgage to GE Money Bank.
According to Agnes Bacani, Mortgage Product Manager of GE Money Bank, total savings from the waiving of the fees could amount to as much as P30, 000 for a P2-million loan.
