Dumaguete bank in the Philippines

Dumaguete City Development Bank (DCDB), Inc. was incorporated on July 7, 1980 registered with the Securities and Exchange Commission (SEC). In just its third year of operation, the BSP gave the Bank an award of recognition on January 7, 1983 for its responsible use of credit during the previous year. 1990 was a watershed year […]

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Dumaguete Rural Bank, Inc. https://upfinance.com/app/uploads/2019/08/FinaldcdblogoLarge-1024x178-500x86.png
San Jose St., Poblacion 6, Dumaguete City, 6200 Negros Oriental
Contact: (035) 225-4820 Fax: (035) 422-6912, dumaguete_rb@rbap.org; wcsdichoso@yahoo.com
Interest rate 1.3% - 3%
Loan tenure from 1 to 36 months
Approval duration Up to 120 hours
Min. monthly income

Leading

Mr. William Christopher S. Dichoso Position: President / Manager / Director

Product Features

Min. financing amount ₱ 10000
Max.financing amount ₱ 2000000
Min. loan tenure 1 months
Max. loan tenure 36 months

Credit

Pension loan

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Interest rates: 2% per month
Minimum loan amount: 5 000 PHP
Maximum loan amount: 50 000 PHP
Payment terms: Up to 36 months
Approval time: within 5 banking days

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Microfinance loan

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Interest rates: From 2.5% per month
Minimum loan amount: 50 000 PHP
Maximum loan amount: 500 000 PHP
Payment terms: Up to 6 months
Approval time: within 5 banking days

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Vehicle loan

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Interest rates: From 1.3% per month
Minimum loan amount: 150 000 PHP
Maximum loan amount: 2 000 000 PHP
Payment terms: Up to 36 months
Approval time: within 5 banking days

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Salary loan

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Interest rates:  20% per annum
Maximum loan amount: 500 000 PHP
Payment terms: 6 – 24 months
Service charge: 3,5%
Approval time: 3 – 5 banking days

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Loan Calculator

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

FAQ

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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Interest rates are usually higher because used cars are a riskier investment than new cars because they can break down or go for repairs, which will be more frequent than a new car. Banks consider this their safety net for this investment so that they do not suffer any losses in the event of re-ownership. Interest rates for new cars are 2-5% higher and are the most common form of car financing in the Philippines.

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Documents confirming income and identification are the main requirements for obtaining a car loan.
Completely filled Vehicle loan application form
Photocopy of any valid ID (Passport, Driver’s License, Voter’s ID, SSS ID, GSIS ID, PRC ID)
For employed applicants, they must submit the following: Original copy of COE or Certificate of Employment, Photocopy of at least 2 months payslip, ITR or Income Tax Return with BIR or bank stamp for at least 1 year
For self-employed applicants, they must submit the following: Photocopy of latest ITR with BIR stamp, Photocopy of Business Registration from DTI or SEC, Copy of Audited Financial Statements 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. The initial registration is valid for 3 years, so after that you need to renew it annually in LTO.

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The Bank grants such a loan only to employees of accredited enterprises.

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The maximum amount of a salary loan depends on your monthly income, and the loan amortization should not exceed 60% of your income.

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No, not required for collateral.

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Contacts

Full company name Dumaguete Rural Bank, Inc.
Address San Jose St., Poblacion 6, Dumaguete City, 6200 Negros Oriental
Phone number Contact: (035) 225-4820 Fax: (035) 422-6912
E-mail dumaguete_rb@rbap.org; wcsdichoso@yahoo.com
Social networks

Dumaguete City Development Bank (DCDB), Inc. was incorporated on July 7, 1980 registered with the Securities and Exchange Commission (SEC).
In just its third year of operation, the BSP gave the Bank an award of recognition on January 7, 1983 for its responsible use of credit during the previous year. 1990 was a watershed year for the Bank and its vision of becoming one of the leading development banks in the Visayas-Mindanao region through its commitment to be responsible partner for growth and countryside development. That July, DCDB established its first branch in the City of Valencia, Bukidnon.
Staying true to its vision, DCDB’s second branch, established in the municipality of Quezon, Bukidnon, began operations on August 27, 1993 and only two months later, its third branch in Lapu-lapu City, Cebu was established on October 16. Barely a month after these branches opened, the Bank added to its line of financial services and products with the authority granted it by the BSP on November 10 to accept demand deposits.

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