AMA Rural Bank of Mandaluyong

The bank has been in operation since 1953 and was previously named as Ortanez Rural Bank, Inc. In 1958, the bank’s name was changed to Mandaluyong Rural Bank, Inc. as approved by Central Bank of the Philippines (now Bangko Sentral ng Pilipinas). Subsequently a series of changes in ownership and management of the bank occurred […]

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AMA Rural Bank of Mandaluyong, Inc https://upfinance.com/app/uploads/2019/08/ama.jpg
311 Shaw Boulevard Mandaluyong City
63 2 533 8244 Fax: 63 2 533 4041, amabank@yahoo.com
Interest rate 0.5% - 1%
Loan tenure from 6 to 24 months
Approval duration Up to 5-12 hours
Min. monthly income

The bank has been in operation since 1953 and was previously named as Ortanez Rural Bank, Inc. In 1958, the bank’s name was changed to Mandaluyong Rural Bank, Inc. as approved by Central Bank of the Philippines (now Bangko Sentral ng Pilipinas). Subsequently a series of changes in ownership and management of the bank occurred and with the said changes, the bank’s name was also changed to Rural Bank of Mandaluyong Inc. in 1963 and Ventures Rural Bank, Inc. in 1992. In March 1999, the AMA Group of Companies acquired total ownership of Ventures Rural Bank Inc. from the Ramon Jacinto Group. The bank’s name was changed to AMA Rural Bank of Mandaluyong, Inc., with the business name of AMA Bank.

The eventual conversion of AMA Bank from Rural Bank to Thrift Bank is the immediate goal of the new management. Backed by the latest in information technology, AMA Bank aims to serve and be a partner of the Filipino entrepreneur.

AMA Bank is part of the AMA Group of Companies, a Filipino-owned enterprise engaged in diverse types of business and services. The AMA Group is clustered in four major divisions: the financial services (which includes AMA Bank), information technology services, property development and power distribution. The AMA Education System is a network of educational institutions that provides the competitive edge in computer-based education. It has firmly established computer colleges and technical centers across the region from Manila to China, Bahrain, Hong Kong and USA.

CORPORATE PHILOSOPHY. We believe in the spirit of the Filipino entrepreneur to tap the vast potential of the nation’s resources towards achieving economic progress. Banks and financial institutions work hand in hand with their clients to promote a better quality of life for all. Meeting the needs of the communities we serve is a privilege. For AMA Bank, providing the impetus for economic development is a primary responsibility.

CORPORATE MISSION. The mission of AMA Bank is to become the ultimate partner in the banking industry. Backed by the latest in information technology and highly trained and motivated employees, it seeks to provide its clients with quality products and excellent service.

CORPORATE VISION. The vision of AMA Bank is to be the leader in the used-car financing and other consumer products with its highly trained and motivated employees to provide clients with excellent service in achieving total customer satisfaction.

Leading

Mr. Amable R. Aguiluz V Chairman and President Mr. Alejandro C. Soliman Executive Vice President and Chief Operating Officer Mrs. Cielo C. Aguiluz Treasurer and Director Mr. Angel Enrico E. Mira Jr. Acting Corporate Secretary

Head Office

Credit

Housing loan (January 2013)
Product description:

At AMA Bank, owning your dream home has become a reality. If you want to buy a new home, build or just repair, we have the perfect package to meet your needs. You can also use the house you purchased as collateral to expand your business using our multi-purpose loan package. At AMA Bank, we not only fulfill your dreams, but also ensure the future of you and your family.

What you need to know about home loan AMA Bank?

Buying a permanent plot, a house and a plot, an apartment or townhouse.
Building a house on your own property.
Repair or expand your existing home.
Expand your business using our multipurpose loan and use your home as collateral.
Developer Loans for those developers who want to build houses / replenish their capital.
How much can an AMA Home Loan customer take?

The minimum loan amount is 500,000 Php.
Loan term from 5 to 20 years.
For multi-purpose loans, the maximum limit is 5 years.
For developer loans, the maximum limit is 5 years.
Enjoy an advance payment option of just 10%.
Enjoy competitive interest rates from 10% to 12%
What properties can be assigned as collateral?

Free place
House and Lot
Commercial buildings with a plot
Why choose AMA Bank?

AMA provides the client with a unique opportunity to own their dream home.
AMA Bank not only provides you with a dream home, but also the ability to OWN or expand your business, thereby ensuring the future of the family.
AMA Bank can help developers in business development by providing additional capital for the construction of new homes.
What are the documentary requirements?
General requirements:

Fully completed AMA mortgage application form.
A photocopy of two valid photographs with a photo and signature (for example, a passport, driver’s license, company ID, etc.).
Bank statement for the last six (6) months.
TCT / CCT copy.
Updated tax return and property tax receipts.
Additional requirements:

FOR THIS EMPLOYEE

A photocopy of the latest income tax declaration (ITR) or W-2 form / BIR 2316 form.
The last payment list for 1 (one) month and the Certificate of Employment and Compensation (CEC).
FOR BUSINESS OWNERS / COOPERATION

Business Registration / Permissions.
SEC Registration / DTI Registration.
Charter of the company / Charter of partnership.
Financial report (last 3 years: internal and audited reports).
Company profile or business history.
Income tax declaration (ITR) for the last three (3) years.
Bank statement for the last six (6) months.
FOREIGN PHILIPINO WORKERS (OFW)

Employment contract and compensation / Certificate of employment.
Employment history / last contract with the crew (if the applicant is a seaman).
OTHER SOURCE OF INCOME

If applicable, documents confirming rental income, interest income, regular receipt of remittances.

Assessment fee

Real Estate in Metro Manila: Php 3000.00
Real Estate Outside Metro Manila: Php 4,000.00
Note. Estimated prices may vary depending on the amount of work, distance and loan amount exceeding 5,000,000 Php.

How to apply?
There are two (2) ways to apply for an AMA home loan:

Download the form here, fill out the form and send to: homeloan_amabank@yahoo.com
Visit any AMA bank nearest to you or call: 477-8277 (head office)

Teacher’s loan
Teacher’s loan

Product description:

The most profitable loan for every pedagogical and non-teaching staff.

Be sure to suit your needs;

Training costs or tuition fees.
Home improvement or buying a new home.
Medical and emergency expenses.
Repayment of credit card balances or other loans with high interest rates.
Car repair and maintenance.
Purchase of equipment and furniture.
Vacation or travel expenses.
Reach life needs, large or small, with the help of a loan from AMABank:

Higher net revenue
Lowest interest rate up to 3.5%
Flexible payment terms
No hidden fees
Quick Loan Approval and Payout
Personalized service
Only 6% service charge
Fewer requirements
Loan balance transfer / loan repayment accepted
Requirements will be as simple as this;

For new loan applicants: Fully completed loan application.
3 months of original consecutive payroll.
2 original government IDs. (Desirable Deped ID and PRC ID with 3 signature samples)
Permanent appointment or service record (updated).
Photocopy of the co-maker Gov’t ID (preferably Deped ID and PRC ID with 3 signature samples) and signature on the loan application form.
For loan extension applications:

Fully completed loan application.
3 months of original consecutive payroll
2 original government IDs and photocopies (preferably DepEd school ID and PRC ID with 3 signature samples)
How much is the loan amount and how long is the repayment term?

Credit amount:
Minimum: P10, 000.00
Maximum: 1 000 000 000
The “ability to pay” should be based on a statutory requirement to provide a monthly wage at home in the amount of 5,000.00 per teacher / staff.
Credit term

Principal amounts and interest are payable between 12 and 36 months.

What are the benefits for the Borrowing Master?

Lower interest rates.
Easy payment.
There is no security requirement.

How much is the interest rate?

Only 3.5% per year for a period of 12 to 36 months
Are there any other fees and charges? NO, except for fees and charges provided by law, as a service charge.
(see sample table below)

Months 36 24 18 12
LOANS AMOUNT 100,000.00 100,000.00 100,000.00 100,000.00
less (Service Charge):6% 6,000.00 6,000.00 6,000.00 6,000.00
Net Proceeds 94.000.00 94.000.00 94.000.00 94.000.00
Monthly Amortization 3,069.44 4,458.33 5,847.22 8,625.00
Total Interest 10,499.84 6,999.92 5,249.96 3,500.00
Annual Interest 3.50% 3.50% 3.50% 3.50%

Who is a qualified eligible borrower?

Permanent or permanent employee with an acceptable length of service.
Duration of stay at least one (1) year.
Should not be more than 65 years or retirement age policy at the time of repayment of the loan, whichever comes first.

Deposited

CHECKING AND SAVINGS ACCOUNT

TYPE OF DEPOSIT ACCOUNT REQUIRED INITIAL DEPOSIT REQUIRED MINIMUM BALANCE REQUIRED MONTHLY ADB BALANCE TO EARN INTEREST SERVICE CHARGE IF BELOW MINIMUM BALANCE INTEREST RATE PER ANNUM
Current Account Individual: Php 5,000 SAME N/A Php 200 per month
Corporate: Php 10,000
Savings Account Individual: Php 500 SAME Php 1,000 Php 200 per month 0.5%
Corporate: Php 2,000
Automatic Transfer Account (CA/SA) Individual: Php 10,000 SAME Php 10,000 Php 200 per month 0.5%
Corporate: Php 20,000 SAME Php 20,000

AMA BANK PRIME SAVINGS ACCOUNT

Product Description:
A special term of savings deposit earning a higher rate of interest. Evidenced by Prime Saving Agreements (PSA) and passsbooks.

AMA BANK CERTIFICATE TIME DEPOSIT*
Product Description:
A form of deposit evidenced by Certificate of Deposit issued by the bank.

Features:
Deposit with a fixed term and interest is higher than the savings rate and matures at a certain or specified period of time.
*Rates are subject to change without prior notice.

5 YEARS and 1 day AMA BANK TIME DEPOSIT
Product Description:
A non-negotiable certificate of Time Deposit with a maximum term of 5 years
& 1 day exempt from withholding tax.

Features:
Same as AMA Bank CTD
*Rates are subject to change without prior notice.

Minimum Amount Php 50,000
Term
Minimum of 30 days maximum of 5 years & 1 day
*Rates are subject to change without prior notice
Withholding Tax
20% on term up to 5 yrs.
Tax exempt if placement is 5yrs & 1 day for individual account.No partial Pre-Termination
Pre-Termination is subject to penalty based on graduated rates.Documentary Stamps- Php- 1.00 for every Php200.00 or fraction
thereof charged to the depositor.
Liquidity Features
Deposit may be used as a collateral to a back to back 90% loanable amount
Rates **See below

TIME DEPOSIT INTEREST RATES

5,000,000 – up 1.75 1.75 1.75 2.00 2.650 3.630 3.750 3.61
50,000 – 99,999 2.00 2.00 2.00 2.25 3.850 4.100 4.200 4.61
100,000 – 999,999 2.25 2.25 2.25 2.75 4.225 4.100 4.200 5.25
1,000,000 – 1,999,999 3.25 3.25 3.35 3.75 4.225 4.300 4.400 5.75
2,000,000 – 4,999,999 3.375 3.375 3.475 4.00 4.350 4.300 4.400 5.75
5,000,000 – 9,999,999 3.50 3.50 3.60 4.125 4.475 4.300 4.400 5.75
10,000,000–UP 3.625 3.625 3.725 4.25 4.600 4.300 4.400 5.75

Member: PDIC, Maximum Deposit Insurance for each depositor Php 500,000

Business loan

Credit for small and medium businesses
Loan for small and medium enterprises (SMEs) (January 2011)
Product description:

A SME loan is a financing package designed for commercial enterprises engaged in industry, agribusiness and / or services that require the use of cash for various business-related purposes.

Why do SMEs need this loan?

Additional working capital.
Business expansion.
Purchase of equipment, equipment or business property
Entering a franchise business.
Start a new business
Buy property for business.
How much can you borrow SMEs?
50% of the estimated cost, but should not exceed 5 million Php and not less than 200,000 Php

What properties can be assigned as collateral?

Free place.
House and Lot.
Commercial building with a plot.
How much is the interest rate?

Term (Months) Monthly Add-on Rate Cumulative Add-on Rate
Effective Rate
12 1.44% 17.26% 30.45%
18 1.40% 25.16% 29.73%
24 1.39% 33.38% 29.34%
36 1.41% 50.80% 28.95%

Why AMA Bank?

AMA Bank rates are more competitive than those of private lenders (3-5%, additional rates) or Credit Cars companies (3.0-5.0%, monthly additional rates).
Other banks allow a minimum loan of £ 1 million, which is too much for most SMEs.
What are the documentary requirements?
General requirements:

A photocopy of two valid photographs with a photo and signature (for example, a passport, driver’s license, company ID, etc.).
Bank reports for the last 6 months.
TCT / CCT copy.
Updated tax return and real estate tax receipts.
Additional requirements:

FOR THIS EMPLOYEE

A photocopy of the latest income tax declaration (ITR) or W-2 form / BIR 2316 form.
Last monthly pay slip or certificate of employment and compensation.
FOR BUSINESS OWNERS / COOPERATION

Credit application form for SMEs.
Registration of enterprises / Permits SEC Registration / DTI registration.
Company Charter / Partnership and Charter
Financial reports (last 3 years: internal and audited reports).
Company profile or history
enterprise income tax returns (for the last 3 years)
Bank statement for the last 6 months.
FOREIGN WORKERS

Employment contract / Certificate of employment.
Employment history / latest crew contract (if the applicant is a sailor).
OTHER SOURCE OF INCOME:
If applicable, documents confirming rental income, interest income, regular receipt of remittances.

Estimated fee:
Real Estate in Metro Manila – P 4 000.00
Real estate outside Metro Manila – P 6 000.00

Calculation example

Months 36 24 18 12
LOANS AMOUNT 100,000.00 100,000.00 100,000.00 100,000.00
less (Service Charge):6% 6,000.00 6,000.00 6,000.00 6,000.00
Net Proceeds 94.000.00 94.000.00 94.000.00 94.000.00
Monthly Amortization 3,069.44 4,458.33 5,847.22 8,625.00
Total Interest 10,499.84 6,999.92 5,249.96 3,500.00
Annual Interest 3.50% 3.50% 3.50% 3.50%

Contacts

Full company name AMA Rural Bank of Mandaluyong, Inc
Address 311 Shaw Boulevard Mandaluyong City
Phone number 63 2 533 8244 Fax: 63 2 533 4041
E-mail amabank@yahoo.com
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