ChinaBank History ChinaBank is a leading Chinese banking corporation in the Philippines, member of SM Group. 1920 – opening of the company as a commercial bank. The main goals are to serve the interests of the business. The head office was located at address: Binondo Rosario St., no. 90. 1990 – bank reaches a new […]
Visit siteHANS T. SY (Chairman, Non-executive director) GILBERT U. DEE (Vice Chairman, Executive director) WILLIAM C. WHANG (President, Executive director)
As of June 2013 SM Group: 37% Dee Families: 10% Foreign companies: 23% Others: 30%
Min. financing amount | ₱ 500000 |
Max.financing amount | ₱ 10000000 |
Min. loan tenure | 12 months |
Max. loan tenure | 300 months |
1 year | 2-3 year | 4-5 year | 10 year | |
Rates | 6.00% | 6.50% | 7.00% | 9.00% |
Eligibility:
– At least 21 years old at the time of application but not more than 65 years old upon loan maturity
– Between 21 to 70 years of age for Principal; at least 13 years of age for Supplementary
Gross annual income:
– Minimum 180 000 PHP
Documents:
For Private and Government Employees, submit any of the following:
– Latest 3 months’ salary payslip
– Certificate of Employment/Notice of Salary Increase/Employment Contract
For Self-Employed/Self-employed Professional, submit all documents below:
– Latest Income Tax return (BIR form 1701)
– Latest Audited Financial Statement
– Business Registration (DTI/SEC)
Additional Regulatory Requirement:
– Latest Income Tax Return (BIR form 2316 or 1700)
– Proof of Current and Permanent Address (must be under the applicant’s name)
– Proof of Date of Birth, Place of Birth and Nationality
For Non-Immigrants and Embassy employees:
– Photocopy of unexpired passport or visa
– Alien Certificate of Registration/I-Card (ACR/ICR)
Initial Deposit: P 5,000
Minimum Tenor 90 Days
Interest Rate Per annum, subject to 20% withholding tax
Amount | 90 DAYS | 180 DAYS | 360 DAYS |
PHP 5,000 – PHP 49,999 | 0.700% | 0.825% | 0.950% |
PHP 50,000 – PHP 299,999 | 0.825% | 0.950% | 1.075% |
PHP 300,000 – PHP 499,999 | 0.950% | 1.075% | 1.200% |
PHP 500,000 – PHP 999,999 | 1.075% | 1.200% | 1.325% |
PHP 1,000,000 – PHP 4,999,999 | 1.575% | 1.700% | 1.825% |
PHP 5,000,000 & up | 1.700% | 1.825% | 1.950% |
Initial Placement Requirement P 50,000
Minimum Tenor 30 Days
Interest Rate Per annum, subject to 20% withholding tax
Amount | 1 month | 2 months | 3 months | 6 months | 1 year |
PHP 50,000 – PHP 299,999 | 0.375% | 0.500% | 0.625% | 0.750% | 0.875% |
PHP 300,000 – PHP 499,999 | 0.500% | 0.625% | 0.750% | 0.875% | 1.000% |
PHP 500,000 – PHP 999,999 | 0.625% | 0.750% | 0.875% | 1.000% | 1.125% |
PHP 1,000,000 – PHP 4,999,999 | 0.750% | 0.875% | 1.000% | 1.125% | 1.500% |
PHP 5,000,000 & up | 1.000% | 1.125% | 1.250% | 1.500% | 1.750% |
Initial Deposit PHP 50,000
Additional Placement In multiples of PHP 1,000 only
Term of Investment 5 Years and 1 Day
Remaining Term | Withholding Tax Rate |
Less than 3 Years | 20% |
3 Years to less than 4 Years | 12% |
4 Years to less than 5 Years | 5% |
5th Year | 0% |
Initial Deposit Requirement P 20,000
Minimum Average Daily Balance (ADB) Requirement P 20,000
Minimum Balance to Earn Interest P 50,000
Interest Rate 0.125%
* Interest may vary based on ADAB maintained and number of withdrawals made during the month, subject to certain conditions. Check the rates with your nearest China Bank branch.
China Bank is introducing three (3) core card types:
Prime, Platinum, and World under the license of Mastercard.
Gross Annual Income:
Php 180,000.00 for Prime
Php 500,000.00 for Platinum
Php 1,000,000.00 for World
Your Total Luxury Card
Experience world-class privileges by taking luxury to a whole new level. Gain access to a wide spectrum of exclusive lifestyle and events, global perks, VIP lounges, and an exclusive personal concierge – The China Bank World Concierge.
Finance Charge 3% per month
Effective Interest Rate 2.90% per month
Save As You Spend
6% Cash Rebate on your qualified spending, raising rewards to a whole new level.
Monthly Principal Membership Fee* – PHP299
*Shall be reflected on your Statement of Account (SOA) after activation
Finance Charge 3.50% per month
Effective Interest Rate 3.37% per month
Exclusive for China Bank Depositors
Your Ultimate Travel Companion
You may opt to pay any of the following amounts:
– Your Statement Balance
– The Minimum Amount Due which is the sum of 5% of your Statement Balance or Php500
– An amount less than your Statement Balance but not less than your Minimum Amount Due
Finance Charge 3.25% per month
Effective Interest Rate 3.13% per month
What You’ve Always Wanted
Enjoy perpetual waiver on annual membership fees with access to rewards and delightful deals.
Finance Charge 3,5% per month
Effective Interest Rate 3.37% per month
Exclusive for China Bank Depositors
Your Everyday Card
Make your day-to-day lifestyle more exciting and rewarding by sharing your experiences with your loved ones. Manage your finances with ease and add more value to your spending.
Finance Charge 3,5% per month
Effective Interest Rate 3.37% per month
The longest loan period is 25 years.
Send an applicationSince 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 applicationThere 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 applicationThe minimum down payment for a new car is 20% of purchase price, for a used car – 30% of purchase price.
Send an applicationNo, 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 applicationDocuments 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.
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 applicationPayment terms up to 36 months.
Send an application 2008 – China Bank Savings began operations. This subsidiary was formed through the acquisition of Manila Bank and the merger with Planters Development Bank and Unity Bank. Thus, CBS had 162 branches and a solid retail banking foundation. CBS is steadily improving the quality of service in line with its motto – “Easy Banking for You”.
2013 – Opening CBS to expand the network. The concept “mini-branches” provided that these mini-branches will offer a full range of services in the retail outlets of the SM Group grocery chains. SM Group is a conglomerate with 208 stores across the country.
In June 2013 was established ChinaBank Equity Fund to achieve capital gains by investing in companies listed on PSEi. The initial net asset value per unit (NAVPU) was PHP 1.00. The NAVPu available at ChinaBank branches, the Trust Group and the website. ChinaBank Equity Fund is the fifth Unit Investment Trust Fund (UITF) offering, the Fund offers 10 UITF products, with varying degrees of risk and investment time horizon.
2014 – Total operating income excluding trading gains, grew 43% from the build up of loans and deposits as well as the greater contribution of our fee-based businesses. In 2014, ChinaBank invested in Manulife ChinaBank Life Assurance Corporation, thereby increasing its stake in Manulife ChinaBank Life to 40%, which allowed us to substantially increase the total operating income.
STI and ChinaBank sign corporate notes facility. ChinaBank is note holder of the facility and STI Holdings will fund its capital expenditures.
2015 – Open China Bank Corporate Center.
2016 – Corporate customers use their Meralco bills thanks to the Autopayment Debit Aarrangement (ADA) solution of ChinaBank. This Meralco-Chin Bank (ADA) automatic debit system was created to reduce the number of manual processing transactions.
2017 – Ayala Corporation and ChinaBank issued US $ 10 billion in bonds with a fixed interest rate and maturity in 2025.
2019 – ChinaBank, together with AF Payments, offered to top up the beep ° card via an ATM. Now cardholders can top up their 100 PHP card to 10000 PHP via ChinaBank and CBS ATMs.
2020 – 100th anniversary of ChinaBank, in honor of this event during the Chinese New year, an led logo was installed on the facade of the main office in Makati. The Bank’s 100th anniversary logo shows the year of its Foundation and the year of its celebration, with the large numbers 100 in the center.
The Corporation has branches in all major cities, business and shopping centers: Cebu, Makati, Antipolo city, Davao, Baguio, Metro Manila, Marikina city, Quezon, Pasig, Cubao, Greenhills, Alabang, Katipunan, Lanang, Ortigas, Trinoma, Timog, Binondo , North Cotabato, Eastwood city at Techno Plaza One, BGC World Plaza, Cebu IT Park, Sm Megamall. Working hours in all branches are from 9:00 to 15:00. Saturday banking is suspended until further notice. However, you can contact the specialists through the form on the Contact page https://www.chinabank.ph/contact_us.aspx.
Today ChinaBank Corporation has 872 representative offices.
Assets for Sale: Real Estate and Vehicles
If you are planning to buy a house or car, then you should check the “Aacquired assets for sale” list. Here you will find houses and cars for sale, which have passed into the ownership of the bank as a result of borrowers’ default. The main advantage of such a purchase is a shorter loan approval time and no fee for the property appraisal.
In addition to a checking account, a company can open a savings account with higher interest rates than checking accounts. A term deposit account is available in foreign currency with a minimum term of 30 days.
Business loans provided by ChinaBank can be divided into short term and long term. Short-term loans can be issued for up to 1 year. Long-term loans can be secured and issued for up to 20 years.
Service “Branch and ATM Locator” shows icons of branches when you click on which a window with contact numbers and detailed address appears. If you encounter a problem, please contact the hotline.
CbC is my love i love this bank more then any bank because my loans are approved quite quickly and it policies and services and customer care is stunning