Marayo Bank, inc

Marayo Bank, Inc. (A Rural Bank) is a bank in the Philippines founded in 1969 as Rural Bank of Marayo (Neg. Occ.), Inc. Rural banks, a type of bank created by the Rural Banks’ Act of 1952, are private banks mandated to lend primarily to farmers and small merchants, on reasonable terms, in order to […]

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Marayo Bank, Inc https://upfinance.com/app/uploads/2019/08/42044375_896806783837764_627547678892359680_n.jpg
Ground Floor, Carmen Building, Lizares Avenue, Bacolod City, Negros Occidental.
Landline: 034 708 0735 Mobile Number: 0927 774 1234, marayobank@rbc.com.ph
Interest rate 0.58% - 1.5%
Loan tenure from 1 to 60 months
Approval duration Up to 5-12 hours
Min. monthly income

Marayo Bank, Inc. (A Rural Bank) is a bank in the Philippines founded in 1969 as Rural Bank of Marayo (Neg. Occ.), Inc. Rural banks, a type of bank created by the Rural Banks' Act of 1952, are private banks mandated to lend primarily to farmers and small merchants, on reasonable terms, in order to expand the rural economy.

The bank won Land Bank's award for Most Outstanding Countryside Financial Institution for calendar year 2008, beating 388 other banks nationwide.[3][4] It has won regional awards repeatedly since 2001.

Rural Bank of Marayo (Neg. Occ.), Inc. opened its headquarters branch on 18 November 1969, in Pontevedra, a town on the west coast of the province of Negros Occidental. It remains the only bank in the town.

In 2005 it opened a second branch, in Enrique B. (EB) Magalona, a coastal town about 65 kilometres (40 mi) north of Pontevedra. It opened a third branch in 2006, in Banate, a town in the province of Iloilo on the coast of Panay, across the Guimaras Strait from EB Magalona. It is the only bank in Banate.

In 2013 the bank changed its name to Marayo Bank, Inc. (A Rural Bank).

Leading

Franklin Fuentebella (Chairman) Jesus Campos Jr. (President and GM)

Head Office

Credit

Chattel mortage

Rates:  From 7.00% APR
Accept Collaterals: Trucks, automobiles, vans and SUVs, Motorcycle, Tricycle
Maximum loan amount: Up to 80% of assessed value
Payment terms: Up to 5 years
Approval time: 5 days-3 weeks

Real estate loan

Rates:  From 7.00% APR
Minimum loan amount: 300 000 PHP
Maximum loan amount: Up to 80% of assessed value
Payment terms: Up to 5 years
Approval time: 5 days-3 weeks

Pension loan

Rates:  From 1.39% per month
Maximum age of the borrower:  80 years of age
Minimum loan amount: 30 000 PHP
Maximum loan amount: 500 000 PHP
Payment terms: Up to 5 years
Approval time: 1-3 banking days

Teacher’s loan

Rates:  From 1.39% per month
Maximum age of the borrower:  57 years of age
Minimum loan amount: 30 000 PHP
Maximum loan amount: 500 000 PHP
Payment terms: Up to 3 ½ years
Approval time: 2 days – 3 weeks

Salary loan

Rates:  From 1.39% per month
Maximum age of the borrower:  55 years of age
Minimum loan amount: 30 000 PHP
Maximum loan amount: 500 000 PHP
Payment terms: Up to 3 ½ years
Approval time: 2-3 days

Borrower Requirements

Real estate loan: 
– Original TCT (Transfer Certificate of Title)
– Lot Plan with Vicinity Map
– Land Tax Declaration (Latest)
– Land Tax Official Receipt (Latest)
– Land Tax Clearance (Latest)
– Marriage Contact (If Married)
– Proof of Billing Address (Any one (1); Old electric, water, phone bill)
– Proof of Income Sources
– Two (2) valid ID Cards of Lot Owners/and or Borrower
– 4 pcs 1×1 pictures of borrowers/lot registered owners
Pension loan: 
– ATM CARD
– GSIS PENSION Voucher (SSS Lump Sum Voucher)
– Two (2) Valid ID’s
– 4 pcs 1×1 ID Picture
– Birth or Baptismal Certificate
– Marriage Contract (if applicable)
– Bank Statement Print-out (recent 1 to 3 months)
– Proof of Billing Address (Any one (1): Old electric, water, or phone billing statement)
– Baranggay Clearance with CEDULA
Teacher’s loan: 
– Recent two (2) months Payslips
– Valid ID’s (DepEd and E-Card)
– 4 pcs 1×1 ID Pictures
Salary loan: 
– 2 Valid ID’s
– Pay slip (Last 3 Months)
– Bank Statement (Last 3 months)
– Certificate of Employment
– Proof of Billing Address (Any one (1); Old electric, water, or phone billing statement)
– 4 pcs 1×1 pictures
– ATM Card
Chattel mortage: 
– Original OR/CR of vehicle
– TPL Insurance Policy
– OD Insurance Policy (if available)
– Proof of Income Sources
– 2 valid ID Cards of Borrower and or Vehicle Owner
– Proof of Billing Address (Any one (1); Old electric, water, phone bill)
– Post Dated Checks

Business loan

Agricultural loan

Collateral: 
We offer non-collateral loans to farmers/tillers of the ff crops:
SSS PENSION LOAN
Sugarcane
Palay
Vegetables
Fruits
Payment terms: Up to 2 years
Approval time: 2-3 days

Commercial loan

Rates:  From 12.00% APR
Minimum loan amount: 300 000 PHP
Maximum loan amount: Up to 80% of assessed value
Payment terms: Up to 2 years
Approval time: 2-3 days

Requirements

Agricultural loan: 
– Photocopy of CLOA Title (For awardees) or Baranggay Certification of cultivated land
– Lease Agreement (For Rented/leased land)
– Milling Report (Sugarcane) or Production Report (Palay)
– 2 Valid ID Cards of farmers/operators
– Proof of Billing Address (Any one (1); Old electric, water, or phone bill)
– Certification from DAR or MARO (if applicable)
– Barangay Clearance
– 4 pcs 1x 1 pictures of borrowers
Commercial loan: 
– Post Dated Check
-Business Permit(s)
– Proof of Income
– 2 Valid IDs
– Proof of Billing
– Brgy. Clearance
– Marriage Contract
– Birth Certificate
– 5 pcs. 1×1 Picture

Deposited

SAVINGS BANK ACCOUNT
Account is intended for future savings. There are no restrictions on the number and amount of the deposit that can be made on any day.

CERTIFICATE OF TEMPORARY DEPOSIT / SPECIAL ECONOMIC DEPOSIT
Deposits received by the bank during a fixed period can be withdrawn after the expiration of the established period.

DEMAND DEPOSIT / CURRENT SAVINGS ACCOUNT / CHECK ACCOUNTS
An interest-free peso account, also known as a “check or deposit on demand” account, in which deposits are made on an over-the-counter basis, while withdrawals are made by issuing a check.

Contacts

Full company name Marayo Bank, Inc
Address Ground Floor, Carmen Building, Lizares Avenue, Bacolod City, Negros Occidental.
Phone number Landline: 034 708 0735 Mobile Number: 0927 774 1234
E-mail marayobank@rbc.com.ph
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