CBC in the Philippines

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 […]

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(CBC) China Banking Corporation https://upfinance.com/app/uploads/2019/08/ChinaBank.png
China Bank Building, 8745 Paseo de Roxas corner Villar Street, Makati City 1226 Philippines
(632) 88-55-888, online@chinabank.ph
Interest rate p.m. 0.45% - 3.5%
Loan tenure from 12 to 300 months
Approval duration Up to 120 hours
Min. monthly income

Leading

HANS T. SY (Chairman, Non-executive director) GILBERT U. DEE (Vice Chairman, Executive director) WILLIAM C. WHANG (President, Executive director)

Shareholders

As of June 2013 SM Group: 37% Dee Families: 10% Foreign companies: 23% Others: 30%

Product Features

Min. financing amount ₱ 500000
Max.financing amount ₱ 10000000
Min. loan tenure 12 months
Max. loan tenure 300 months

Credit

Home loan

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  1 year 2-3 year 4-5 year 10 year
Rates 6.00% 6.50% 7.00% 9.00%


Minimum loan amount: 500 000 PHP

Maximum loan amount: Up to 80% of assessed value

Payment terms: Up to 25 years

Approval time: 5 banking days

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AutoPlus loan

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Interest Rates:  From 5,49%

Loan amount:
Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value

Payment terms: Up to 3 years

Approval time: 1-3 banking days

Down payment: As low as 20% of purchase price

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Loan Calculator

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

Borrower Requirements

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)

Deposited

Regular Time Deposit

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%

Diamond Savings

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%

Money Lift Plus

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%

MoneyPlus Savings

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.

Credit Card

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

CHINA BANK WORLD MASTERCARD

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

CHINA BANK CASH REWARDS MASTERCARD

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

CHINA BANK PLATINUM MASTERCARD

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

CHINA BANK FREEDOM MASTERCARD

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

CHINA BANK PRIME MASTERCARD

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

FAQ

The longest loan period is 25 years.

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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.

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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.

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

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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.

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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.

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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.

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Payment terms up to 36 months.

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Contacts

Full company name (CBC) China Banking Corporation
Address China Bank Building, 8745 Paseo de Roxas corner Villar Street, Makati City 1226 Philippines
Phone number (632) 88-55-888
E-mail online@chinabank.ph
Social networks

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 level thanks to BancNet. ChinaBank, together with 7 banks, created the largest ATM network in the country – BancNet. The head office is moved to the city of Makati. Today this service is available as eGov BancNet through the bancnetonline.com portal. With eGov Payments automation, business leaders can focus on management processes without worrying about late payments.
Paying corporate taxes online is convenient and secure with BIR EFPS, the electronic filing and payment system for your account via BancNet. For BIR EFPS (ePay), documents are required: a copy of the eftp registration form, corporate access number, Pin-code. ePay – secure payments with your ChinaBank account.

      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.

ChinaBank Online


To use all the features of online banking, you must pass the registration. Customer has 3 ways to Sign Up: using an ATM card, Internet Banking Credentials or contact your nearest branch. After registration is completed, go to the website cbconline.chinabank.ph and login to your account. With online banking, a customer can:

  • monitor account balances,
  • see history of transactions,
  • pay bills,
  • convert dollars to euros and pesos.

ChinaBank Personal Offers


The company offers to individuals a full range of banking services: checking account, saving account, Housing loan, Car loan, money transfers, Demand Drafts with additional charge from SWIFT. Personal offers for the international SWIFT transfer through which the funds will be transferred.
Interest rates for Housing (Home) loans are among the lowest in the Philippines and range from 6% – 9% APR. The minimum loan amount for the purchase of a home cannot be less than 500,000 PHP. And the interest rate for Car (Auto Plus) loans are 5.49% APR for Brand new auto. Requirements for borrowers are indicated on the website.
ChinaCheck Plus is a checking account with specific deposit requirements:

  • Minimum balance – 5000 PHP
  • Minimum balance to receive interest – 50 000 PHP
  • Interest rate – 0.125%.

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.

ChinaBank Business offers


Services for small and large businesses consist of current account maintenance, investment assistance and loans. There are several options for current account:

  • ChinaCheck Plus – convenient and easily accessible because it comes with the card. If there is a minimum amount on the account specified in the agreement, interest is charged.
  • Savings Book – An easy-to-track savings account.
  • MoneyPlus Savings – allows you to receive bonus income
  • An account that provides flexibility and liquidity. Top up your account balance and get bonus income.

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.


ChinaBank loan calculator


For the convenience of customers, the corporation’s website has a Home loan calculator. To calculate the monthly payment, enter the loan amount, term in the appropriate fields of the form and select Rate Fixing Period from the list. As a result, the system will give you the amount of the monthly payment. To calculate payments for an Auto loan, use the calculator on our website.

ChinaBank Credit Card


The bank’s customers have access to credit cards of the Mastercard payment system of three types Platinum, Prime and World. In addition to the convenience of paying for purchases, including on credit, cards allow their holders to participate in numerous Promo. The mechanic of Promo is that customers participating in any promotion and making a payment by card receive an SMS with Promo Code, which allows them to receive discounts or bonuses. Sometimes the corporation’s partners organize prize draws for credit card holders who participate in their promotion. In this case, customers need to register on the partner’s website and confirm their participation using the Promo Code.
ChinaBank cards are served worldwide and customers can withdraw more than 22 million ATMs. A 24-hour hotline and Customer Support are available for cardholders of the bank.

China Bank Savings


China Bank Savings is the retail division of China Bank. CBS offers several deposit products: Time deposit, Savings and Checking accounts. In turn, Saving account is represented by: Easi-Save ATM and Basic, Easi-Save for Kids, US Dollar Savings.
If you have never used a deposit, then Easi-Save Basic is a great option for beginners with an interest charge. Because you do not need an initial deposit and there is no maintaining balance and there is no minimal maintaining balance requirement.
Easi Checking Basic is a current account with a mandatory minimum balance of 3000 php. The documentation for this checking account is a checkbook.

ChinaBank Insurance


ChinaBank has its own insurance company and offers a full range of services from accident insurance and trade credit insurance. The full list of products can be found on the website page. To conclude an insurance contract, contact Chinabank Insurance Brokers at Makati City, 6772 Ayala Ave, 8 / F VGP Center.


Chinabank has a huge branch network in the Philippines that covers 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, 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.
You can find a “near me” branch using the “Branch and ATM Locator” on the corporation’s website. Tips for using the locator:

  • Select Branch or ATM type;
  • In the “Select your location” drop-down list, select your locality;
  • After selecting a city, the available branches will be displayed on the map.

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.

Sofia

Editor, copywriter of the site.

User rating

Reviews

1 year ago

Cbc Is my love

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

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