Bank of Commerce in the Philippines

Bank of Commerce history Opening was in 1963. A high level of customer service and a progressive approach ensured the successful development of Bank of Commerce. 2008 – a new history of Bank of Commerce began, it received investments from the San Miguel Group. From then until today, the company logo bears the inscription “Branch […]

Visit site
Bank of Commerce https://upfinance.com/app/uploads/2019/10/BOC-Logo-1.png
San Miguel Properties Centre # 7 St. Francis Street Mandaluyong City 1550 Philippines
CUSTOMER SERVICE: (02) 8-632-BANK (2265) (GLOBE LINES): 1800-8-982-6000 , CUSTOMERSERVICE@BANKCOM.COM.PH
Interest rate p.m. 0.56% - 1.75%
Loan tenure from 12 to 240 months
Approval duration Up to 168 hours
Min. monthly income

Head Office

San Miguel Properties Centre # 7 St. Francis Street Mandaluyong City 1550 Philippines

Product Features

Min. financing amount ₱ 100000
Max.financing amount ₱ 30000000
Min. loan tenure 12 months
Max. loan tenure 240 months

Credit

Home loan

Send an application

Fixed Rates:

years 1 3 5
rates APR 8% 8,25% 6,75%

Minimum loan amount: 500 000 PHP
Maximum loan amount: Up to 80% of assessed value
Payment terms: 10-20 years
Approval time: 5 banking days

Calculate loan

Auto loan

Send an application

Interest Rates: 

months 12 18 36-60
rates APR 13% 12% 10%

Minimum loan amount: 100 000 PHP
Terms: From 12 to 60 months
Loan Purpose: Purchase of new car
Approval time: 1-5 banking days
Down payment: As low as 20% of purchase price

Calculate loan

 

Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Borrower requirements

General:  
– Photocopy of valid ID (individual if employed and self-employed / authorized signatories if corporation and partnership)
– List of acceptable ID: Driver’s License, Passport, SSS ID, Company ID (if Top 5,000 Corporation), Postal ID, PRC ID
– Photocopy of deposit passbooks or bank statements (6 months)
– Billing statements (cellphone, utilities, etc.) (latest 1 month)
– Vehicle quotation from the dealer (if available)
Employed:
– Copy of Income Tax Return (ITR) with BIR or bank stamp (latest 1 year)
– Certificate of Employment stating applicant’s position, income, and length of stay in the company (original copy only)
Self-employed:
– Copy of business registration papers with DTI (if single proprietorship) or SEC (if partnership or corporation)
– Copy of Audited Financial Statements (latest 1 year)
– Copy of Income Tax Return (ITR) with BIR or bank stamp (latest 1 year)

Business loan

Small Business Loan

Send an application

Interest Rates: 

years 1 2-3 4-5
rates APR 6,5% 7,5% 8%

Minimum loan amount: 1 000 000 PHP
Maximum loan amoong: 15 000 000 PHP
Collateral: Any prime residential / commercial / industrial property with or without improvements and/or Cash Deposits under the name of the applicant
Payment terms: Up to 60 months
Approval time: 3 – 7 banking days

Calculate loan

Eligibility Requirements

Eligibility: 
– SBL Application Form
– Photocopy of any 2 valid IDs with photo and signature
– Copy of ITR & AFS of the business for the last three (3) consecutive years
– DTI Certificate of Business Name Registration for sole proprietorship / SEC Papers for partnership and corporation
– Business/ Mayor’s Permit
– Bank Statements for the last 6 consecutive months
– Signed Authority to Bank Check
Collateral documents: 
– Copy of TCT/CCT, updated Tax Dec & RETRs
– Vicinity Map/location plan/lot plan/building plan
– Master Deed of Restriction (for condos)
– Copy of Deposit Instrument (if secured by deposit)

Deposited

SAVINGS ACCOUNT PLUS

Initial deposit and maintaining ADB PHP 10,000
Required ADB to earn interest PHP 50,000
Interest rate Based on prevailing interest rate
Interest crediting Monthly

SAVINGS ACCOUNTS WITH PASSBOOK

Initial deposit and maintaining ADB PHP 5,000
Required ADB to earn interest PHP 10,000
Interest rate Based on prevailing interest rate
Interest crediting Monthly

SAVINGS ACCOUNT WITH ATM DEBIT CARD

Initial deposit and maintaining ADB PHP 500
Required ADB to earn interest PHP 5 000
Interest rate Based on prevailing interest rate
Interest crediting Monthly

SIKAPPINOY

Initial deposit and maintaining ADB PHP 0
Required ADB to earn interest PHP 5,000
Interest rate Based on prevailing interest rate
Interest crediting Monthly

US DOLLAR SAVINGS ACCOUNT

Initial deposit and maintaining ADB USD 200
Required ADB to earn interest USD 200
Interest rate Based on prevailing interest rate
Interest crediting Quarterly

JUNIOR SMART SAVERS

Initial deposit and maintaining ADB PHP 200
Required ADB to earn interest PHP 10 000
Interest rate Based on prevailing interest rate
Interest crediting Monthly

Credit Card

CLASSIC MASTERCARD

Enjoy financial flexibility with a versatile and rewarding everyday credit card. Take care of your basic needs while enjoying the privileges you deserve. Charge your groceries, gas, utilities, or installment purchases and be rewarded on everyday spend.

GOLD MASTERCARD

Live a life without worries; take advantage of greater purchasing power with higher spending limits. Shop, dine, travel and enjoy more perks and rewards on all your spending.

PLATINUM MASTERCARD

Enjoy life’s luxuries and the freedom to purchase the finest things the world has to offer using your premium card. Use your card anywhere in the world and take advantage of exciting privileges, the exclusive benefits of Dual Currency Billing, and Waived Annual Membership Fees.

WORLD MASTERCARD

Benefit from dual currency billing for your local and international purchases, and earn as much as 5x Rewards Points when you use your card for travel-related expenses.
Monthly Effective Interest Rate: 3.25%
Payment amount due: 5% of the outstanding balance or Php500 whichever is higher
Payment timing: On the due date (21 days after cycle cut-off)

CASH INSTALLMENT CREDIT CARD

A card that provides easy and reliable cash loan. Get cash when you need it and enjoy low-interest rates at fixed installment terms.

CASH LOAN AVAILMENT RATES TERM MONTHLY ADD-ON RATE ANNUAL EFFECTIVE INTEREST RATE
12 1,25% 26,62%
24 1,59% 33,19%
36 1,75% 35,07%

Debet Card

CASH CARD

Bank of Commerce Cash Card is a reloadable electronic money card with EMV chip that lets you access funds or pay for purchases securely, here and abroad, without using cash. It is not a deposit account; thus, it does not earn interest and is not insured with PDIC. It does not require a maintaining balance or mip fee. Usembershe it with ATMs, POS, and e-commerce sites.

DEBIT CARD

Introducing the Bank of Commerce Debit Card, the new international Mastercard-enabled card equipped with an EMV (Europay, Mastercard and Visa) chip technology for improved security against fraud, and Mastercard Contactless, the modern way to pay for purchases!

Debit Card allows you worry-free access to your linked Bank of Commerce deposit account, to inquire your balance or withdraw funds through EMV-compatible terminals like ATMs, and to pay for purchase through point-of-sale (POS) at any Mastercard-affiliated merchants worldwide and BancNet-affiliated merchants nationwide, as well as online payment sites and channels.

FAQ

The minimum down payment for a new car is 20% of purchase price, for a used car – 30% of purchase price.
Send an application

Send an application

Payment terms – up to 60 months.
Send an application

Send an application

No, the car is your property from the moment of purchase, but remains the bank’s guarantee for the loan period. This means that you cannot sell the car, and you also have to pay for car insurance so that the bank can receive its money in any case.
Send an application

Send an application

No. Purchase of ONLY new car!
Send an application

Send an application

Documents confirming income and identification are the main requirements for obtaining a car loan.
Application form with filled in fields.
Copy of Passport or any ID ( SSS ID, Driver’s License, Voter’s ID)
Working borrowers must submit documents: certificates from the place of work or COE, a copy of payslip for 2 months, income tax return from BIR or ITR within 1 year.
Self-employed applicants must submit documents: a copy of the ITR with THE bir stamp , a copy of registration with the DTI or SEC, and a copy of financial statements for a period of at least 2 years .
After buying a car, you need to pay for insurance.
Send an application

Send an application

Initial registration is usually done by agents, so you get a copy of OR / CR. You must remember that the initial registration is valid for 3 years, so after that you need to renew it annually in LTO.
Send an application

Send an application

The longest loan period is 20 years
Send an application

Send an application

Since this type of loan is associated with large amounts of money and a large volume of documents, the term for making a decision by the Bank depends on two stages of verification. First, the Bank will check your solvency, this stage takes no more than 5 working days on average. Then the Bank will need to check the documents for the land or property you are buying, as well as make an assessment of it.
Send an application

Send an application

There is no single solution. If you need the lowest monthly payment, then take loan for the maximum possible period. If you are not sure that you will have a consistently high income, then take as little time as possible.
Send an application

Send an application

Contacts

Full company name Bank of Commerce
Address San Miguel Properties Centre # 7 St. Francis Street Mandaluyong City 1550 Philippines
Phone number CUSTOMER SERVICE: (02) 8-632-BANK (2265) (GLOBE LINES): 1800-8-982-6000
E-mail CUSTOMERSERVICE@BANKCOM.COM.PH
Social networks

Bank of Commerce history

Opening was in 1963. A high level of customer service and a progressive approach ensured the successful development of Bank of Commerce.
2008 – a new history of Bank of Commerce began, it received investments from the San Miguel Group. From then until today, the company logo bears the inscription “Branch of the San Miguel Corporation”. This means that the logo is a registered trademark of the San Miguel Corporation. The coat of arms of this company was added to the logo. The new history of Bank of Commerce was marked not only by large investments, but also by the introduction of new automated customer service and banking operations and opened new branches in the Philippines. The opening of new branches helped attract new clients.

Today the Bank of Commerce has 140 branches and an extensive ATM network. The largest concentration of offices and ATMs in Metro Manila locations – Pasig , Renaissance Pasig, Malabon, Taguig, BGC, Ermita, Las Pinas, Caloocan, Mandaluyong, Ortigas Center, Eisenhower Greenhills , Ayala Malls, Petron Filinvest Alabang.
Branches are also located in all major settlements: Quezon (Tomas Morato branch, Fairview Petron, Cubao, Del Monte, Commonwealth), Mabalacat, Makati (Rockwell Mall), Cavite City, Marikina City, Lacson Bacolod, Calamba, Imus, Tacloban, Batangas, Cainta, Dumaguete, Tarlac, locations of the Bulacan province -Sta Maria, San Miguel, Baliuag, Malolos.
Often, offices and ATMs are located on the territory of the Bank of Commerce partners, so in Angeles City, offices are located in shopping centers: Nepo Mall Angeles, Jenra Mall Angeles, Angeles Pampanga, Mabalacat Water District, Cosmopolitan Hotel – Baguio, Petron Pitstop Baguio, Session Road Baguio, Jenra Mall Balibago.
Bank of Commerce has offices on independent islands: Iloilo (Western Visayas), Cebu, Lapu-Lapu, Fuente Osmena Cebu (Central Visayas). There are also branches on the island of Mindanao in the cities: Iligan, Davao, CDO – Velez, CDO – Carmen, CDO – Lapasan, General Santos.
Branch opening hours can be viewed on the website page.
The Head office is located in Mandaluyong City by the address: Mandaluyong City, Saint Francis Street, San Miguel Properties Center. For urgent contact with managers, the customer can use the hotline.
2011 – Development Holdings Inc. and Valiant Ventures sold 7.16% shares of Bank of Commerce to San Miguel Corporation. According to SMPI, the sale of Bank of Commerce shares by the former owners – Development Holdings Inc. and Valiant Ventures is subject to completion and corporate approval.

Online banking Bank of Commerce


The company keeps up with the times and offers its clients a powerful tool – ebanking. What transactions and services can be obtained using the ebanking service? It is the most advanced online banking platform. Customers can make international money transfers; find out the balance; make account inquiry; get an international SWIFT code, pay bills and payments Bank of Commerce loans. To get access to ebanking, you need to go through an enrollment on the Bank of Commerce platform.
To enrollment, go to bankcomonline.com.ph/bankcompersonal/login and click the “Enroll Now” button. Fill in all the fields of the form, enter a valid phone number and receive a confirmation code in the form of an SMS to your phone number.
If you have already passed the enrollment, then to get access to the online platform, enter your ID, password in the “Login to BankCom” form fields and click on the “Log in” button.
In case of using online banking for business, go to the website https://bankcomonline.com.ph/bankcombusiness/login and enter the Corporate Code, User ID and Password in the form fields “Log in to Corporate Internet Banking”, and then, instead of the “Log in” button, click “Submit”.
Description of the enrollment process in pictures.


We would like to draw the attention of users to the fact that when making trade operations, a remittance fee is charged for SWIFT. For operation “LC Opening” – SWIFT Fee is 1000 pesos. And for operation “LC operation” – SWIFT Fee is 600 pesos. A full description of all remittance fees can be found at bankcom.com.ph/advisory/updated-fees-charges-foreign-currency-accounts-trade-transactions/.
With the help of online banking, you can enroll your Time Deposit account. However, this feature is only available after registering your current account. For term deposits, only the function is available – balance inquiry.

Types of Bank of Commerce loans


For individuals, the Bank of Commerce issues 4 types of loans: Auto Loan, Home Loan, Salary Loan, Small Business Loan. For each type, there are specific requirements for borrowers. The Salary Loan is an unsecured loan; however it is available only to employees of accredited organizations. You can send an application for a loan on the Bank of Commerce site or through a mobile app. To download the mobile app, go to Google Play, download BankCom Personal. Registration in the mobile app on some smartphones does not work correctly, if you have such a problem, contact an office near you during opening hours.

Auto loan

This loan is provided for buying a new car. Loan term is from 1 to 5 years. The car will be pledged by the Bank of Commerce on the day of purchase. Credit funds can be used to pay no more than 80% of the cost of the car. An application for Auto loan can be sent by Internet on the Bank of Commerce website. Requirements for borrowers and contact number, see page.

Home loan

This loan is provided for the purchase of a house, condominium; for building a house. Loan term is from 10 to 20 years. An application for this loan can be sent by Internet on the Bank of Commerce website. Requirements for borrowers and contact number, see page.

Small business-loan

The loan is provided for business expansion, acquisition of fixed assets and working capital. This loan cannot be applied for on the Bank of Commerce website. Requirements for borrowers and contact number, see page.
You can repay loans through ATM or a personal account on the site. You can find the ATM “near me” on the page.

Bank of Commerce loan calculator

You can calculate monthly payments using the calculator on the Bank of Commerce website or the calculator on this page. To calculate the loan, enter the interest rate, amount and loan term in the calculator lines.

Bank of Commerce credit cards


Credit cards of the Mastercard payment system are presented in 5 types: Classic, Gold, Platinum, World, Cash installment cards. The differences between different types are in the amount of the minimum balance, different bonuses, the presence / absence of insurance. Credit cards can be issued at the Head office, offices in large cities or via the Internet with courier delivery.
Mastercard credit cards are accepted all over the world, and you can to withdraw cash, however, taking into account the fact that the withdrawal fee may be vary. All Mastercard credit cards allow the card owner to withdraw cash up to 30% of the available credit limit. The following services are also available:

  • Balance transfer. Use low interest rates – 21.46% APR to accumulate balances from other cards to Bank of Commerce Mastercard credit card.
  • Inquiry for account statements. The card owner can order a monthly payment report over the Internet to his email.

Bank of Commerce benefits for Filipinos

Rewards points
A card owner will receive 1 bonus point for every 25 pesos spent with the card. A card owner can increase up to 5x Rewards points when purchased from the Bank of Commerce partners. All accumulated points can be exchanged for reward goods.
Programs and promo
Promo “Rewards Plus” is an opportunity to purchase more rewards if you use Bank of Commerce credit cards. So, for example, the “Annual Membership Fee Waiver” promo offers the client to be exempt from the annual fee for servicing the card if he pays for purchases with it for a specific amount. The list of required amounts for 5 types of cards can be found on the page. There you will also find a promo from the Bank of Commerce partners for purchasing goods and services using a Bank of Commerce credit card.
Travel insurance by Platinum Mastercard
All holders of basic and additional Platinum Mastercard under the age of 70 automatically receive travel insurance up to 2 million pesos when paying for tickets. The insurance policy provides protection for up to 2 week trip for international travel.
Installment 0%
Card owner can pay for goods in installments at 0% in selected establishments with payment after 3, 6, 18 and 36 months.

Bank of Commerce deposit


Bank of Commerce is one of the few banks in the Philippines that provides deposit products tailored to suit any need. Our customers can open deposits using debit cards, Internet banking, at Bank of Commerce branches using a savings book. To open a passbook deposit, you can contact with the Head office, address: Philippines, Mandaluyong City 1550, St. Francis Street, 7. You can also find the “near me” branch on the Bank of Commerce website. To date, about 140 branches have been opened in different parts of the Philippines:

  • Metro Manila locations – Pasig , Renaissance Pasig, Malabon, Taguig, BGC, Ermita, Las Pinas, Caloocan, Mandaluyong, Ortigas Center, Eisenhower Greenhills , Ayala Malls, Petron Filinvest Alabang.
  • Branches are also located in all major settlements: Quezon (Tomas Morato branch, Fairview Petron, Cubao, Del Monte, Commonwealth), Mabalacat , Makati (Rockwell Mall), Cavite City, Marikina City, Lacson Bacolod, Calamba, Imus, Tacloban, Batangas, Cainta, Dumaguete, Tarlac, locations of the Bulacan province -Sta Maria, San Miguel, Baliuag, Malolos.
  • Offices on independent islands: Iloilo (Western Visayas), Cebu, Fuente Osmena Cebu, Lapu-Lapu (Central Visayas).
  • Mindanao – Iligan, Davao, General Santos.

A detailed description of deposit products can be found on the page. If you have lost your debit card with a deposit, call the hotline to block your personal card and contact your Bank of Commerce office during operating hours to issue a new card.
Deposit accounts can be opened in philippine pesos, USD and euro. So, to open a deposit in US dollars, 200 dollars is enough and interest accrual starts from the same amount. To open a deposit on a Mastercard EMV debit card, you will need 10000 philippine pesos, but the accrual of interest will start from 50000 philippine pesos. The main condition for the monthly accrual of interest is to keep the card balance of 50000 philippine pesos. If in any month there are less than 50000 philippine pesos on the card, then the accrual of interest on the deposit on the debit card stops.

Bank of Commerce contact number (hotline) and branches (ATM) “near me”


Bank of Commerce branches are open on weekdays from 9:00 to 16:00. Main Branch, address: Mandaluyong City 1550, St. Francis Street, 7 is also open from 9:00 am to 16:00, and the main branch support service is open from 8:30 to 17:30 except Saturday and Sunday. If customers need help outside of business hours, you can write an appeal through the website or call the hotline 1-800109826000 or 1-80089826000 (international lines).
The site has a convenient search for a branch and ATM “near me” bankcom.com.ph/branches-atm/ . About 140 branches are located throughout the country:

  • Metro Manila locations – Pasig , Renaissance Pasig, Malabon, Taguig, BGC, Ermita, Las Pinas, Caloocan, Mandaluyong, Ortigas Center, Eisenhower Greenhills , Ayala Malls, Petron Filinvest Alabang.
  • Branches are also located in all major settlements: Quezon (Tomas Morato branch, Fairview Petron, Cubao, Del Monte, Commonwealth), Mabalacat , Makati (Rockwell Mall), Cavite City, Marikina City, Lacson Bacolod, Calamba, Imus, Tacloban, Batangas, Cainta, Dumaguete, Tarlac, locations of the Bulacan province -Sta Maria, San Miguel, Baliuag, Malolos.
  • Offices on independent islands: Iloilo (Western Visayas), Cebu, Fuente Osmena Cebu, Lapu-Lapu (Central Visayas).
  • Mindanao – Iligan, Davao, General Santos.

If you often have to make transactions outside of working hours, then we remind you about the wide possibilities of online banking 24/7. Register online or at a branch of the company and use the services of Bank of Commerce anytime and anywhere.

admin

The administrator of the site, ruthlessly remove reviews containing advertising. Keeps the financial market of the Philippines under the radar.

User rating

Reviews

Leave a review

Your rating

Characters remaining: 4096

Only our subscribers have access to the most profitable loans and deposits offers.