By Donnabelle L. Gatdula (The
Philippine Star) | Updated September 23, 2013 - 12:00am
MANILA, Philippines - State-owned Land
Bank of the Philippines is offering reduced interest rates for its housing loan
program, its top official said.
Landbank president and CEO Gilda Pico said the special housing loan rate is in
line with the bank’s 50th anniversary celebration.
“The Gintong Pabahay promo offers a
lower interest of five percent per annum for the first year for all prospective
availers and existing borrowers of Landbank’s housing loan programs: the EASY
Home Loan, Bahay para sa Bagong Bayani, and the LBP End-Buyers Financing Tie-Up
with Developers,” Pico said.
Pico said the Gintong Pabahay promo
also forms part of their commitment to support the government’s National
Shelter Program.
“We hope to help provide easy and
affordable access to home financing services for Filipinos working here and
abroad,” she said.
The promo runs until Dec. 31, 2013,
within which period all loan applications with complete documents should be
submitted and received by the Landbank lending units.
Pico said loanable amounts vary
depending on clients’ housing needs.
The bank has also tied up with home
developers for the latter’s endorsement of qualified end-buyers.
“We are optimistic that this tie-up
will help provide credit assistance to buyers of socialized, low-cost and
mid-range housing projects and in turn positively impact the lives of more
Filipinos in need of low-income housing,” added Pico.
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