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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(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 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


  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

Calculate loan

AutoPlus loan


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

Calculate loan

 

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.

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
E-mail online@chinabank.ph
Social networks

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

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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