Asian Banking and Finance 2016 New Consumer Lending Product of the Year - SSS pension loan

Date Posted: Oct 25, 2017

The Philippine National Bank (PNB) received the New Consumer Lending Product of the Year Award for its SSS Pension Loan Program in the Asian Banking and Finance (ABF) Retail Banking Awards 2016, held in Singapore.

The PNB SSS Pension Loan Program was initially introduced to the public last May 2015, in partnership with the Social Security System (SSS). This product innovation seeks to provide SSS pensioners a convenient and reasonable credit facili-ty to aid their financial needs.

The program is open to all active SSS pensioners up to 70 years old. It provides a faster turnaround time by crediting pen-sions directly to the customer's PNB/PNB Savings Bank accounts. Clients can enjoy very low interest rate and FREE com-prehensive insurance coverage which includes: Credit Insurance, where existing loan balance will be fully settled upon death of pensioner; ATMSafe, which provides pensioners added security and protection from ATM skimming or any other forms of ATM theft scams; and Healthy Ka Pinoy Emergency Medical Card, which extends to pensioners emergency treat-ment at any of the 890 accredited hospitals and clinics in the Philippines.

"This program is one of PNB's corporate social responsibility initiatives. With a significant number of pension accounts maintained at PNB, it is only appropriate that we extend a program that will give pensioners a chance to make the most out of their pensions, for only a minimal cost. This is our way of giving back to our clients and this award just further strength-ened our commitment to introduce more products that would enrich lives and provide financial security and stability to the Filipinos worldwide." said Joven Hernandez, President and CEO of PNB Savings Bank.

Last July 22, 2016, PNB proudly celebrated its 100 years in the Philippine banking industry. For the past century, PNB has always been the bank that customers can lean on, offering a heritage and unique brand of Filipino service. Backed by 100 years of stability and excellence, PNB looks forward to another hundred years of serving You First.