Equicom Savings Bank in the Philippines
Equicom Savings Bank, Inc. is a duly licensed thrift bank majority owned by the Equicom Group and Mr. Antonio L. Go. Mr. Go was the former Chairman of Equitable PCI Bank and was also Founder and President of Equitable Card Network established in 1989. Equicom Savings Bank was the Philippines’ leading credit card company[citation needed] […]
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Leading
Antonio L. Go, (Chairman) Estelito C. Casal, (President)
Shareholders
controlling stake owned by the Equicom Group and Mr. Antonio L. Guo. Mr. Guo was the former chairman of Equitable PCI Bank
Product Features
| Min. financing amount | ₱ 10000 |
| Max.financing amount | ₱ 5000000 |
| Min. loan tenure | 3 months |
| Max. loan tenure | 300 months |
Credit
Home loan
Interest Rates: From 7.00% APR
Minimum loan amount: 300 000 PHP
Maximum loan amount: Up to 60% of assessed value
Payment terms: Up to 25 years
Approval time: 5 – 15 banking days
Calculate loanPersonal loan
Interest Rates: From 2% per month
Minimum loan amount: 15 000 PHP
Maximum loan amount: 1 000 000 PHP
Payment terms: Up to 36 months
Approval time: 1 – 5 banking days
Salary loan
Interest Rates: From 1,8% per month
Minimum loan amount: 10 000 PHP
Maximum loan amount: 1 000 000 PHP
Payment terms: Up to 12 months
Approval time: 3 – 5 banking days
Loan Calculator
Borrower requirements
Eligibility:
– At least 21 years old at the time of application but not more than 65 years old upon loan maturity
Сitizenship:
– Must be a Filipino Citizen
– Must have an office or residence landline
If Employed:
– Minimum gross monthly income for Metro Manila – 15 000 PHP
– For outside Metro Manila – 12 000 PHP
If Self-employed:
– With at least two (2) continuous years of profitable operations in the same line of business
– Minimum gross monthly income for Metro Manila – 30 000 PHP
– For outside Metro Manila – 25 000 PHP
Business loan
SME Business loan
Interest Rates: From 1,4% per month
Minimum loan amount: 1 000 000 PHP
Maximum loan amount: 5 000 000 PHP
Payment terms: Up to 3 years
Collateral: Acceptable real estate property as collateral
Approval time: 5 banking days
Eligibility requirements
Eligibility:
Duly registered to operate as a business in the Philippines;
Must have been operating for at least 3 years, and profitable for the latest 1 year;
Must have no outstanding debt that exceeds 40% the company’s monthly income;
Each franchise loan must be tied to the business’ primary owner; for partnerships/corporations, this means:
Owner with simple majority (individual with the single largest stake in the company) must provide details and sign off on the loan application form.
Deposited
- Opening and maintaining a PHP 5000 balance
- Average Daily Balance (ADB) to get PHP 10,000 percent
- Annual interest rate 0.25%
- Percentage crediting monthly
- Withholding tax of 20%
- Rest period No transaction for two (2) years
Credit Card
Equicom Classic Credit Card
Annual fee 1 000 PHP
Supplementary card fee 500 PHP
Minimum Amount Due 5.00% of the purchases and advances or P500.00/$50.00, whichever is higher.
Interests and other charges are added to the minimum amount due.
Monthly Effective Cash Advance Interest Rate 4.50% of transaction amount inclusive of
P100 service fee (regular rate: 4%)
Monthly Effective Late Payment Interest Rate 5%
Supercheck Facility
Dual Currency Billing
Balance Transfer Facility
Cash Advance Facility
Rewards Program
Equicom Gold Credit Card
Annual fee 2 000 PHP
Supplementary card fee 1 000 PHP
Minimum Amount Due 5.00% of the purchases and advances or P500.00/$50.00, whichever is higher.
Interests and other charges are added to the minimum amount due.
Monthly Effective Cash Advance Interest Rate2.40% of transaction amount inclusive of
$2.00 service fee (regular rate: 2%)
Monthly Effective Late Payment Interest Rate 4%
Higher Credit Limit
Super Check Facility
Unlimited Supplementary Cardholders
Auto-Bills Facility
Equicom Business Card
Centralized and individual billing
Unlimited Card Assignees
Auto-Debit Facility
Unique Rewards Program
FAQ
On average, initial approval of a Personal credit application can be done from 10 minutes to 1 day, depending on the bank. Final approval takes on average from 24 hours to 5 days. You just need to make sure your documents are completed when you submit them.
Credit funds can be issued immediately after the application is approved or 1-3 banking days after a successful phone check.
You do not require any collateral or guarantor to apply for a Personal loan.
No, you don’t need to report money spent. You can use the money for a variety of personal needs, such as training, hospitalization, car upgrades, and paying bills.
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 Bank grants such a loan only to employees of accredited enterprises.
The amount of a Salary loan ranges from PhP10,000 to PhP 1,000,000.
The maximum loan amount depends on your income and loan term. According to Philippine law, paying a loan cannot exceed 30% of income.
No, not required for collateral.
Contacts
| Full company name | Equicom Internet Banking - Equicom Savings Bank |
| Address | 6/F ODC International Plaza, 219 Salcedo Street, Legaspi Village, Makati City 1229, Philippines |
| Phone number | (632) 828-3784 local 219/224/225 |
| properties@equicomsavings.com.ph | |
| Social networks |
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Equicom Savings Bank, Inc. is a duly licensed thrift bank majority owned by the Equicom Group and Mr. Antonio L. Go. Mr. Go was the former Chairman of Equitable PCI Bank and was also Founder and President of Equitable Card Network established in 1989. Equicom Savings Bank was the Philippines’ leading credit card company[citation needed] and also had the distinction of being the only card issuer which carried the four major global credit card brands – VISA, MasterCard, American Express and JCB. Go was a member of the Executive Committee of Visa International Worldwide, Chairman of Visa International Asia-Pacific from 1998-2005 and was a director since 1980.
Go is the Chairman of the Equicom Savings Bank Board, while Mr. Rene J. Buenaventura, the former President & CEO of Equitable PCI Bank, is the Vice Chairman.
Equicom Savings Bank has its main office branch in Makati and sixteen other branches in Luzon, Visayas and Mindanao. Within one year from acquisition by the Equicom Group, the Bank grew from three to seventeen branches. It has deployed ATMs in all its branches and selected offsite locations. EqB cardholders can access over 9000 ATMs nationwide through its network affiliation with BancNet, MegaLink and Expressnet, and over 1 million VISA Plus ATMs worldwide.
Users rating
Reviews
Good work environment
lt is one of the premier bank. this bank ltd is largest bank in. Here all the banking needs of the customers are fulfilled according to its requirements. Working environment is very good. Bank cares about its employees in all aspects. Its management is very supportive in all matters especially in administrative and IT issues.
growing organization
growing organization during my work with this bank i learned about the customer services' banking products, sales and how to work as a team
Best Bank!
always was good to be a part of ESB bank. it is the bank who care for its employees. benefits are excellent. pay is less but will always give you peace of mind to work for this bank.