CBC in the Philippines
China Banking Corporation (PSE: CHIB), commonly known as China Bank, is a Filipino bank established in 1920. It was the first privately owned local commercial bank in the Philippines initially catering to the banking needs of Chinese Filipino businesspeople. It offers various banking services and products related to deposit, investment, trust, cash management, remittance, and […]
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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
| 1 year | 2-3 year | 4-5 year | 10 year | |
| Rates | 6.00% | 6.50% | 7.00% | 9.00% |
Calculate loanAutoPlus loan
Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value
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.
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.
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.
The minimum down payment for a new car is 20% of purchase price, for a used car – 30% of purchase price.
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.
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.
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.
No
Payment terms up to 36 months.
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 |
| online@chinabank.ph | |
| Social networks |
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China Banking Corporation (PSE: CHIB), commonly known as China Bank, is a Filipino bank established in 1920. It was the first privately owned local commercial bank in the Philippines initially catering to the banking needs of Chinese Filipino businesspeople. It offers various banking services and products related to deposit, investment, trust, cash management, remittance, and financing products and services. It also offers insurance brokerage and bancassurance services through its subsidiary and affiliates.
China Bank was included in the list of one of the “top 100 ASEAN companies in terms of delivering shareholder value” by the American consulting firm Stern Stewart and Company in 2009. It was also awarded the Best Wealth Management House in the Philippines by The Asset Magazine (HK) in 2011. At the 2012 Bell Awards of the Philippine Stock Exchange, China Bank was named as one of the best-governed companies in the Philippines. It was the only bank among the top five awardees in the publicly listed companies category. The Bank was again awarded at the Bell Awards in 2013—one of only two other awardees to have been in the top five twice in a row. China Bank was also a recipient of the Institute of Corporate Director’s Gold Award for Corporate Governance in 2011 and 2012.
Users rating
Reviews
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
