Marayo Bank, inc in the Philippines

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

Leading

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

Product Features

Min. financing amount ₱ 30000
Max.financing amount ₱ 10000000
Min. loan tenure 1 months
Max. loan tenure 60 months

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

Borrower Requirements

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

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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

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

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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

Borrower Requirements

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

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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

Borrower Requirements

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

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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

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Loan Calculator

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

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

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

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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

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

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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.
Maintaining Balance Php 500
Minimum Amount to earn interest Php 1 000
Conditions:
An account can be opened by an individual in his own name or by more than one individual in their own names. It can also be opened by a minor jointly with natural guardian or with mother as the guardian.
o An account showing no deposit or withdrawal for a period of two (2) year is considered dormant.
Interest
Interests are paid monthly at the rate of 0.05% per annum on the basis of 365 days to a year, or as specified by the bank from time to time.
Tax deduction = 20% of interest

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.
Maintaining Balance Php 1,000.00
Minimum Amount to earn interest Php 1,000.00
Conditions
Special Savings Deposit Accounts can be opened by individuals, partnership firms and corporations

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.
Maintaining Balance
– Personal Check – Php 2,200.00
– Commercial Check – Php 3,000.00
Conditions
The opening amount for deposit is only in the form of cash. No acceptance of Check and Other Cash item (COCI) is allowed to open an account. In the case of corporation, or partnership, or association, which uses money substitute to open an account such as check or others, the issuance of check book shall only be done upon the realization of the same to cash.
An account showing no deposit or withdrawal for a period of (2) years will be transferred to a separate dormant account status in the interest of the depositor as well as the bank

FAQ

First of all, Home loan is a loan for the purchase of real estate, which you leave as a loan security.
Mortgage loan is also secured, but has differences from Home credit.
Marayo Bank accepts collaterals:

  • Trucks
  • Automobiles, Vans and SUVs
  • Motorcycle
  • Tricycle

The longest Mortgage loan term is 5 years.

Yes, you remain the owner of the mortgaged property and you can use it.

Yes, property insurance is a prerequisite.

The maximum loan amount depends on your income and the duration of the loan. Under Philippine law, a loan payment cannot exceed 30% of income.

No, is not required for collateral.

The maximum period for which banks issue a salary loan is 3 ½ years.

The longest loan period is 5 years.

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.

Requirements:
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

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
Social networks

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).

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Reviews

5 months ago

Good luck, Marayo Bank!

Thanks to Marayo Bank and the transfer of my promises, I save so much because of the low interest rate.

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