Philippine Savings Bank  » Finance  »
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  • Another thing great about this financial institution is that they issue a pre-paid Mastercard debit card


    • by ibizaspain
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      This bank is a member of the Metrobank Group. I have a dollar account for my savings and the previous bank where I had it decreased the monthly interest. When the dollar hit a high rate of close to 50 pesos several years ago, all banks decreased their rate for time deposits. Right then, I was scouting for higher interest rates. Philippine Savings Bank maintained a higher interest rate for their dollar account. I transfered to this bank and had my foreign currency on time deposit.

      This is the main advantage with PS Bank because they really offer higher interest rates. However, this does not mean that they have higher interest rates even for peso accounts.


      The higher interest is exclusively for foreign currency. I checked their latest interest rate for local currency, it was the same with other banks. In fact if you avail of the lowest amount, it was almost the same with what you earn for your normal savings account.

      Since that time that I opened a bank account, I have availed of several services of this bank. There are lots of services which are beneficial to every depositor.

      First, this bank offers on-the-spot release for ATM accounts. There are only a few branches which offers this service. When I availed of this, the process was fast and easy and it was like going through opening a normal bank account.

      This bank also accepts payments for Metrobank Credit Cards. The main good thing is that this has longer working hours. It closes at 4 pm compared to Metrobank which closes at 3. I find this very helpful especially for those busy individuals. We often catch up with banking hours when we are busy with our work. This is helpful too when you are trying to meet a deadline say for instance due date of your credit card. At one time it really save me lots of money from incurring the penalty.

      I also like the Prime Flexi Personal Loan with Prime Rebate. Normally when you secure a loan from the bank, it is only ...


      • Philippine Savings Bank
      a one sided advantage and normally only the creditor gets to earn something from it. However, the option of paying your loan in advance is worth rewarding for PS Bank. You can get rebate for paying in advance. This may sound too impossible for a debtor however the good thing is that it still provides benefit nonetheless. In my case I was able to accumulate more than 10,000 pesos of rebate during the duration of my loan. There were months that I was not able to pay in advance but there are months that I was early in paying. At least you get something out of it. Who would give me 10,000 pesos for paying early?

      Another

      thing great about this financial institution is that they issue a pre-paid Mastercard debit card. In most banks, they have debit card but it does not carry with it the Mastercard logo. The advantage? When you debit card has a Mastercard logo, you can use it for online transactions and this really helps for your shopping needs. A good substitute too for those who does not have a credit card yet they want to make purchases online.

      This bank provides services which is very helpful to an ordinary depositor. All the services are designed for those who are credit-challenged. From the Forex rates for time deposits, prime rebate for loans and pre-paid Mastercard. This is indeed a savings bank.




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The review was published as it's written by reviewer in November, 2010. The reviewer certified that no compensation was received from the reviewed item producer, trademark owner or any other institution, related with the item reviewed. The site is not responsible for the mistakes made. 427111321610730/k2311a117/11.7.10
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