Security Bank’s 6% Interest Rate for 5 Years Home Loan Promo is Back!
Security Bank’s 6 for 5 promo is back and it offers a guaranteed maximum interest rate of 6.0% for a 5-year fixing period. It is a special home loan anniversary promo that gives lower interest rates.
6 for 5 is available to all new and existing clients of Security Bank who will apply for a Home Loan or a Home Equity Loan from September 23, 2016 to December 15, 2016, and who will subsequently be approved and will avail of the Home Loan proceeds on or before March 15, 2017 which is the availment period.
Terms and Conditions:
- The “6 for 5 part 2 Home Loan Promo” (Promo) will run from September 23, 2016 to December 15, 2016 (“Promo Period”).
- The Promo is open to all new and existing clients of Security Bank Corporation (the “Client/s”), who will apply for a Home Loan or a Home Equity Loan from September 23 to December 15, 2016 and who will subsequently be approved and will avail of the Home Loan proceeds on or before March 15, 2017 (“Availment Period”).
- To qualify for the promo, the client must submit a complete Home Loan application within the promo period.
- For an application to be considered complete, the following must be submitted to and confirmed to be complete and in order by Security Bank:
- Duly accomplished SBC Home Loan application form.
- Applicable document requirements listed in the loan application form.
- The Promo is open to clients with an availed loan of at least PHP1, 000,000 and a minimum loan term of at least 5 years.
- Qualified borrowers shall enjoy the following Low Rate Offers upon loan booking:
Term Fixing Rate per annum (EY)
Fixed for 1 year 5.0%
Fixed for 3 years 5.5%
Fixed for 5 years 6.0%
For Home Equity Loans, applicable rate shall be Home Loan Promo Rate + 1%.
- The Low Rate Offer shall apply for the 1, 3 and 5 year fixing tenors only. For other term fixings, published board rates shall apply. No other rate discount shall apply for the 1, 3 and 5 year fixing tenors, if client avails of the Low Rate Offer.
- All loan purposes shall be applicable to avail of the offer. For construction loans, only tranches availed within the availment period shall be entitled to the lower rate. Only tranches with the lower rate shall be subject to the lock in period requirement and the corresponding break funding fee in case of pre-termination.
- Only Regular Amortization payment option is allowed for accounts under the promo. The Fantastic Elastic payment option is not included or allowed under the promo.
- The loan will not be pre-paid nor pre-terminated for at least five (5) years from date of availment (i.e. no partial or full principal payment shall be made within the first 5 years lock in period.) Any pre-payments shall be subject to a break-funding fee and applicable pre-payment processing fees.
- In the event any of the promo conditions are not complied with, customer will no longer be qualified for the Promo Rate Offer.
- The promo cannot be availed in conjunction with any other home loan promo, or rate discount unless otherwise specified in the promo mechanics.
- All Home Loan and Home Equity Loan applications submitted during the program period shall undergo the standard evaluation and approval process of Security Bank.
- The offer is non-transferable, non-convertible to cash, cannot be exchanged for other promo items and cannot be availed in conjunction with other home loan promotions or rate discounts other than what is indicated in item no.6.
- These terms and conditions are subject to any relevant law, government direction and regulation. The promotion will be void where prohibited or restricted by law.
- In case of dispute, the decision of Security Bank, with the concurrence of DTI shall be deemed final.
To avail of the promo, fill out this form and proceed with the application. If you have questions, you may contact Security Bank at 887-9188.