WealthBank in the Philippines
WealthBank traces its origin in the year 1967 when Danao City Development Bank was granted a thrift bank license and an authority to operate by then Central Bank of the Philippines. This single-branch thrift bank, principally located in Danao City, had equity participation by the Development Bank of the Philippines and the Land Bank of […]
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Head Office
Taft Financial Center, Cardinal Rosales Ave., Cebu Business Park, Cebu City, PhilippinesProduct Features
| Min. financing amount | ₱ 2000 |
| Max.financing amount | ₱ 1000000 |
| Min. loan tenure | 3 months |
| Max. loan tenure | 120 months |
Credit
Home loan
Interest Rates: From 8.00% p.a.
Collateral: Real Estate Mortgage
Maximum loan amount: Up to 80% of assessed value
Payment terms: Up to 10 years
Approval time: 5-15 banking days
Calculate loanAuto loan
Interest Rates: From – 9% p.a.
Loan amount:
Brand new: up to 80% of purchase price
Second hand: up to 70% of appraised value
Payment terms: 12 to 60 months
Approval time: 1-3 banking days
Down payment: As low as 20% of purchase price
Teacher’s Salary loan
Interest Rates: From 1.89% per month
Minimum loan amount: 30 000 PHP
Maximum loan amount: 1 000 000 PHP
Payment terms: Up to 36 months
Approval time: within 5 banking days
Commercial loan
Interest Rates: From 1.89% per month
SHORT TERM LOANS:
Loan Line Term: Not more than 180 days
Receivable Financing Line Term: 30 to 180 days
Domestic Bills Purchase Line Term: Maximum of 9 days
Back-to-Back Loan Term: 2 to 3 years
MEDIUM TERM LOANS: For acquisition of capital assets such as building, motor vehicle, machineries and equipment.
Term : more than 1 year to 5 years
LONG TERM LOANS: For acquisition of plant site; horizontal and vertical improvements and installation of machineries
and equipment.
Term : more than 5 years to 10 years
Deposited
Wealthbank Savings Account
Wealth Kiddie Savers Account
MyCash ATM Savings Account
Wealth Aspire
FAQ
The basic requirement is that you must be a public school teacher or you are the administrative staff at DepEd.
Send an applicationThe interest rate varies from 1.89% per month.
Send an applicationThe maximum term for this type of loan is 36 months.
Send an applicationThe minimum down payment for a brand new car is 20% of the purchase price, and the down payment for a used car is 30% of the purchase price.
Send an applicationPayment terms for Brand New cars – up to 60 months.
Payment terms for Used cars – up to 48 months.
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.
Send an applicationDocuments 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.
Send an applicationThe longest loan period is 10 years.
Send an applicationSince 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.
Send an applicationContacts
| Full company name | WealthBank |
| Address | Taft Financial Center, Cardinal Rosales Ave., Cebu Business Park, Cebu City, Philippines |
| Phone number | 032 415-5013, +63 917-870-7393 |
| Social networks |
WealthBank traces its origin in the year 1967 when Danao City Development Bank was granted a thrift bank license and an authority to operate by then Central Bank of the Philippines. This single-branch thrift bank, principally located in Danao City, had equity participation by the Development Bank of the Philippines and the Land Bank of the Philippines.
In 2001, VICSAL Development Corporation, acquired Danao City Development Bank, signaling the start of what is now known as Wealth Development Bank. Branch expansion soon started in 2002 starting in the Visayas and Mindanao region. Currently, WealthBank has 25 strategic branches located throughout the country with new branches poised to open in current and succeeding years.
