Philippine Veterans Bank
PVB Bank is engaged in providing financial services for participants of the Second World War.
Bank for veterans of the Second World War was developed in 1956. It was at this time that the Philippines and Japan concluded an agreement on war reparations, after which large sums were come to the State Fund. Of these, a separate monetary fund was formed, which was to be distributed equally to participants of military events.
As a result, a decision was made to create a full-fledged bank for war veterans. All funds invested in its development. Senator Camilo Osias contributed to the acceleration of the process, and already on June 18, 1963, the financial organization was inaugurated.
Changes in the power of the country and in the charter of the company led to serious consequences. Unfortunately, the PVB was closed and liquidated on June 17, 1985. All shares issued to a financial institution were no longer valuable. The only compensation issued was 28 pesos (14 pesos per share).
After the revolution, the new government was interested in the restoration of financial organization. The old PVB charter was restored. Problems with the banking license were resolved, and the authorized capital rose sharply from one hundred million to one billion pesos.
Since May 6, 1992, the bank is considered private and commercial, and state control was completely abolished. The new headquarters of the PVB is organized in the city of Makati. From this moment, the company fully restores its activities and again begins to issue banking products to customers.
All assets and shares of the company are fully owned by the participants of the Second World War, residing in the territory of the Philippines. They are divided between veterans equally. Only families, descendants or heirs of participants in hostilities will be able to receive bank assets. At the same time, virtually all people in the Philippines can apply for services.
Key banking products
Philippine Veterans Bank offers a wide range of banking services both for veterans of military operations, as well as for individuals and legal entities not related to the Second World War. For example:
- Housing lending. To build your dream home, you can borrow money at Philippine Veterans Bank. Housing loans are issued to meet the needs of veterans. The minimum amount is 375 thousand pesos. The purpose of lending is usually the purchase or construction of a house, its arrangement. Also, veterans often use the refinancing service of an existing mortgage loan.
- Keeping regular savings in pesos. The company offers the issuance of savings books for individuals. The minimum deposit at registration of the savings book is 5 thousand pesos for individuals and 10 thousand pesos for legal entities. Otherwise, interest will not be accrued to the account.
- The issuance of high-yield certificates and accounts. The minimum deposit for individuals is one thousand dollars. Corporate customers must make an amount of five thousand dollars. To receive an account at PVB, the client must prepare a complete package of documents and photographs.
- Cash and settlement services for business. Philippine Veterans Bank installs ATMs, provides stable salary, integrates Internet banking, issues invoices and checks, collects taxes on business, real estate, etc.
To learn more about the services of a financial institution, you can visit the nearest branch of the bank or contact a consultant on the contact phone number.
Main branches and ATMs of PVB
There are more than four thousand ATMs in the country, you can also use online banking for round-the-clock monitoring of your finances.
Banks do not deal with borrowers who do not fulfill their obligations. The alternative is online credit services that are more loyal and impose less stringent requirements.
Customers can instantly get a loan from the Pag-IBIG Fund, where income certificates and collateral are not needed. You can contact the service if you want to save time waiting for a positive decision of the bank, since there is no need to draw up any additional documents or references. Most often people come here to get a housing loan. Money can be obtained in a convenient way. For this it is important to correctly fill in your data on the site.