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Here's your guide for savings banks in the Philippines.

What is a Savings Bank

A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits.

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Savings Banks in the Philippines

As of writing, there are at least 58 savings banks in the Philippines which are all licensed by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) under the General Banking Act of 2000.


HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

List of  Savings Banks in the Philippines

In alphabetical order:
  • 1st Valley Bank (a development bank)
  • AllBank, Inc.
  • Bank of Makati
  • Bank One Savings and Trust Corporation
  • Bataan Development Bank
  • Bataan Savings and Loan Bank
  • BPI Direct BanKo, Inc. (a subsidiary of BPI)
  • BPI Family Savings Bank (will be merging with BPI)
  • Business and Consumers Bank
  • CARD SME Bank, Inc. (a thrift bank)
  • Century Savings Bank Corporation
  • China Bank Savings (formerly PlantersBank - now a subsidiary of Chinabank)
  • City Savings Bank (a subsidiary of Unionbank)
  • Citystate Savings Bank
  • Cordillera Savings Bank, Inc.
  • Dumaguete City Development Bank, Inc.
  • Enterprise Bank, Inc.
  • Equicom Savings Bank (Equicom)
  • Farmers Savings and Loan Bank, Inc.
  • First Consolidated Bank, Inc.
  • Hiyas Banking Corporation
  • HSBC Savings Bank Philippines Inc.
  • Inter-Asia Development Bank
  • Isla Bank (a thrift bank)
  • Legazpi Savings Bank
  • Lemery Savings and Loan Bank, Inc.
  • Life Savings Bank, Inc.
  • Luzon Development Bank
  • Malasiqui Progressive SLB, Inc.
  • Malayan Savings Bank
  • Maritime Savings Bank Corporation
  • Maximum Savings Bank, Inc.
  • Maya Bank
  • Merchants Savings and Loan Association, Inc.
  • Metro Cebu Public Savings Bank
  • NetBank (Community Rural Bank of Romblon)
  • NorthPoint Development Bank, Inc.
  • Overseas Filipino Bank (subsidiary of Landbank; government bank)
  • Pacific Ace Savings Bank, Inc.
  • Pampanga Development Bank
  • Pen Bank, Inc. (formerly Peninsula RB, Inc.)
  • Philippine Business Bank
  • Philippine Resources Savings Banking Corporation (PR Savings Bank; acquired by CitySavings Bank)
  • Philippine Savings Bank (PS Bank; a subsidiary of Metrobank)
  • Philippine Star Development Bank, Inc.
  • PNB Savings Bank ( merged with PNB)
  • Producers Savings Bank Corporation (Producers Bank)
  • Quezon Coconut Bank, Inc. (a thrift bank)
  • Queen City Development Bank
  • RCBC Savings Bank (merged with RCBC) -
  • SeaBank
  • Sterling Bank of Asia
  • Sun Savings Bank, Inc.
  • UCPB Savings Bank (a subsidiary of UCPB)
  • University Savings Bank
  • Village Bank, Inc.
  • Wealth Development Bank Corporation
  • Yuanta Savings Bank Philippines, Inc.



The banks listed above are those with the biggest assets in the Philippine Banking Industry as of September 30, 2020.


Acknowledgement: This article is sponsored by Usapang Hanapbuhay.

Bisitahin ang Usapang Hanapbuhay Facebook Group para sa iba pang tips at mga diskarte sa pera!


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List of Savings Banks in the Philippines

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Did you know that you can now start saving money online? Here's how.



Do you want to open a savings account without going to the bank? Thanks to digital banks like CIMB Bank, Tonik, and Maya Bank (formerly PayMaya), they let you open an account through their mobile apps. You can even submit the required documentation in real time.

Even traditional banks like Maybank, UnionBank, and RCBC have upgraded their processes for clients to do everything online. So that means no more branch visits and long lines.


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Overview of Digital Banks in the Philippines

Here's a list of digital banks and their Interest Rate Per Annum:
  • CIMB Bank - 0.50% – 2.60%
  • Komo Bank - 2.50% 
  • Maya Bank (formerly PayMaya) - 6.00%
  • Maybank - Up to 1.00%
  • RCBC - Varies
  • SeaBank - 5.00%
  • Tonik Bank - Up to 6.00%
  • UnionBank - 0.10%



CIMB Bank

CIMB Bank Philippines is an all-digital mobile bank. Its first financial product was GSave, which the bank integrated into the GCash app. Eventually, the company introduced other savings accounts, like Upsave, Fast, and Fast Plus, that offer annual interest rates starting from 0.50% to 2.60%.

The UpSave has a base rate of 2.50%. This account offers free life insurance with coverage of up to ₱250,000 if you maintain a minimum average daily balance of ₱5,000.

The GSave account is accessible in the GCash wallet and offers a 2.60% interest rate per annum. You can also transfer GCash funds to the GSave account with ease.

With your CIMB Savings account, you can deposit money over the counter through more than 8,000 partners, including 7-Eleven, SM Payment Center, and LBC. Other features include mobile bank transfers, prepaid reloading, and bills payment.




HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

Maya Bank

Maya Bank, formerly PayMaya, is a fully digital bank that offers an introductory promo of 6.00% interest rate per annum when you open a savings account until October 13, 2022. This digital bank is available to all Maya users. Depositors need to maintain an average daily balance of ₱10,000 to earn interest.

The savings are insured by the PDIC for up to ₱500,000. Since it’s linked to your Maya account, you can easily make transactions online such as bills payment, money transfers, and purchases of mobile load.




SeaBank

SeaBank by SeaBank Philippines, is another digital bank that’s regulated by the Banko Sentral ng Pilipinas. It’s a rural bank that offers a mobile banking service to all current and non-depositors. Like any other digital bank, opening a savings account is super easy.

Download the SeaBank mobile app and go through the verification process. Sign up in five minutes with a valid ID. There’s no minimum balance to maintain your account, no deposit cap, and no lock in period. You can deposit for as low as ₱1 and start growing your money with its 5.00% interest rate per annum.

Depositors receive a daily payout of the interest earnings. You can transfer funds from your SeaBank account to other banks for withdrawals. As of the time of writing, the bank doesn’t have an ATM card.




Tonik Bank

Tonik Bank is a digital-only bank in the Philippines that offers a full suite of banking services with no maintaining balance. You can open an account for free through the mobile app. There are no minimum balance requirements. You’ll earn interest on your deposits up to 6.00% per annum, and you can use Tonik’s mobile app to manage your finances on the go.

Tonik offers a 1.00% interest per annum on your savings account and comes with a physical debit card that you can use for withdrawals and other in-store purchases. Since this is a branchless bank, depositing funds is super easy, as you can do it via GCash, local bank transfer, or CLiQQ kiosks.

You earn up to 6.00% interest rate per annum with a maximum deposit of ₱100,000 that you will hold off for six months.




RCBC Touch Q

RCBC Bank allows clients to open a savings account through RCBC Touch. It’s a web portal for Filipino citizens 18 years old and above. You need a valid government-issued ID for the account opening process.

If you use RCBC Touch, you can open any savings accounts like One Account, GoSavers, and Regular ATM Savings. It also lets you apply for checking accounts like Dragon Checking and eWoman Checking accounts. The interest rates, initial deposit requirement, and minimum average daily balance of these accounts vary. But for starters, the Regular ATM Savings account only requires a minimum deposit of P3,000.




iSave by Maybank

Maybank launched iSave as its first online-only savings account that you can open through the mobile app. Open a savings account straight from your phone and submit the documents online.

With iSave, there’s no initial deposit or minimum balance required. But if you want to earn a profit of 0.25% per annum, you should have ₱20,000 as your average daily balance.

You can deposit up to ₱100,000 in your account, and you will also receive an EMV-enabled ATM card if you top up your account with a one-time deposit of at least P1,000.



UnionBank

UnionBank is a traditional bank that continuously takes advantage of innovative solutions to improve its services. This is why it has won Best Digital Bank for three straight years. It’s one of the first banks that offered Instapay to clients, allowing real-time fund transfer funds to any major local bank via mobile bank transfer.

You can pay bills, insurance premiums, and even your taxes. Deposit a check by scanning within the app. Depending on your budget goals or saving habits, you can also open a PlayEveryday, Personal Savings, Savings +, or GetGo Debit account.



These savings accounts have different minimum ADB and annual fees. But overall, having a UnionBank account gives you the convenience of mobile banking.

Which digital bank is for you?

If you are looking for low-interest loans, here's my list of Personal Loans With the Lowest Interest Rates in the Philippines.


Acknowledgement: This article is sponsored by Usapang Hanapbuhay.

Bisitahin ang Usapang Hanapbuhay Facebook Group para sa iba pang tips at mga diskarte sa pera!


Like Usapang Hanapbuhay Facebook page for other updates!
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Top Digital Savings Banks in the Philippines (CIMB, Maya, Tonik, SeaBank and More!)


This is your comprehensive guide about banks and banking in the Philippines.

The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.


As of 17 October 2017, there were 36 universal and commercial banks, 57 savings banks, 492 rural banks, 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) under the General Banking Act of 2000.

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On top of regular banking services offered by universal, commercial, thrift and rural banks, there are savings and loan associations which are mainly based in communities and among retirees in the armed forces and the police organization and other employees of the government of the Philippines.


Prominent among these small savings services is the Armed Forces and Police Savings and Loan Association, Inc. (AFPSLAI), which is exclusive to active servicemen and retirees of the armed forces in the Philippines.

RELATED: List of Philippine Banks Swift Code/BIC (Meaning & How To Use)


HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

UNIVERSAL BANKS

Universal banks are financial service conglomerates that combine investment banking, commercial banking, development banking, and insurance to encompass a wider variety of services. They are also authorized to engage in other functions such as merchant banking, mutual funds, factoring, housing finance, and practically all types of functions typical in the banking business.

According to Bangko Sentral, there are 21 universal banks with active operations in the Philippines as of March 2018. These banks are the following:
  • Land Bank of the Philippines
  • Australia and New Zealand Banking Group Limited
  • Deutsche Bank AG
  • ING Bank N.V.
  • Mitzuho Bank, Ltd. – Manila Branch
  • Standard Chartered Bank
  • The Hongkong & Shanghai Banking Corporation
  • Asia United Bank Corporation
  • Rizal Commercial Banking Corporation
  • Security Bank Corporation
  • Union Bank of the Philippines
  • Al-Amanah Islamic Investment Bank of the Philippines
  • Development Bank of the Philippines
  • Bank of the Philippine Islands
  • BDO Unibank, Inc.
  • United Coconut Planters Bank
  • China Banking Corporation
  • East West Banking Corporation
  • Metropolitan Bank and Trust Company
  • Philippine National Bank
  • Philippine Trust Company



COMMERCIAL BANKS

Commercial banks are privately-owned institutions that accept deposits and lend money to projects to earn interest. They also offer personal, business, and mortgage loans, checking account services, and basic financial products like savings accounts and certificate of deposit to individuals and businesses. They are primarily owned by shareholders and are profit-based.

As of March 2018, 22 commercial banks are in operation in the Philippines and they are listed below:
  • Bank of Commerce
  • BDO Private Bank, Inc.
  • Philippine Bank of Communications
  • Philippine Veterans Bank
  • Robinsons Bank Corporation
  • CTBC Bank (Philippines) Corporation
  • Maybank Philippines, Incorporated
  • Bangkok Bank Public Co. Ltd.
  • Bank of America, N.A.
  • Bank of China Limited – Manila Branch
  • Citibank, N.A.
  • JP Morgan Chase Bank, N.A.
  • KEB Hana Bank – Manila Branch
  • Mega International Commercial Bank Co., Ltd.
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • First Commercial Bank, Ltd., – Manila Branch
  • Cathay United Bank Co., Ltd., – Manila Branch
  • Shinhan Bank – Manila Branch
  • Sumitomo Mitsui Banking Corporation – Manila Branch
  • Industrial Bank of Korea – Manila Branch
  • United Overseas Bank Ltd., – Manila Branch
  • Hua Nan Commercial Bank, Ltd., – Manila Branch



List of Universal and Commercial Banks in the Philippines

Alphabetically arranged:
  • Al-Amanah Islamic Investment Bank of the Philippines*
  • Asia United Bank Corporation (AUB)
  • Australia and New Zealand Banking Group (ANZ)
  • BDO Unibank, Inc. (BDO; largest bank in the Philippines in terms of assets; 243rd largest bank globally)
  • BDO Private Bank (a subsidiary of BDO Unibank, Inc.)
  • Bank of America, N.A.
  • Bank of China - Manila Branch
  • Bank of Commerce (a subsidiary of San Miguel Corporation)
  • Bank of the Philippine Islands (BPI; oldest bank in Southeast Asia)
  • Bangkok Bank Co. Ltd.
  • Cathay United Bank Co. Ltd. - Manila Branch
  • Chang Hwa Commercial Bank LTD - Manila Branch
  • China Banking Corporation (Chinabank)
  • Chinatrust Philippines Commercial Bank Corporation (Chinatrust)
  • CIMB Bank Philippines Inc.
  • Citibank Philippines
  • Development Bank of the Philippines (DBP, secondary government bank)*
  • Deutsche Bank
  • East West Banking Corporation (EastWest Bank)
  • First Commercial Bank Manila
  • Hua Nan Commercial Bank Ltd. Manila
  • Industrial Bank of Korea Manila Branch
  • ING Group N.V.
  • JPMorgan Chase & Co. (JPMorgan Chase)
  • KEB Hana Bank - Manila Branch
  • Land Bank of the Philippines (Landbank; LBP, main government bank)*
  • Maybank Philippines, Inc.
  • Mega International Commercial Bank Co. LTD
  • Metropolitan Bank and Trust Company (Metrobank)
  • Mizuho Bank, Ltd. Manila Branch
  • MUFG Bank, Ltd.
  • Philippine Bank of Communications (PBCom)
  • Philippine National Bank (PNB)
  • Philippine Trust Company (Philtrust Bank)
  • Philippine Veterans Bank (Veterans Bank; PVB)
  • Rizal Commercial Banking Corporation (RCBC)
  • Robinsons Bank Corporation (RBank)
  • Security Bank Corporation (Security Bank)
  • Shinhan Bank - Manila Branch
  • Standard Chartered Bank Philippines
  • Sumitomo Mitsui Banking Corporation Manila Branch
  • The Hongkong and Shanghai Banking Corporation Limited
  • Tonik (bank)
  • Union Bank of the Philippines, Inc. (Unionbank)
  • United Overseas Bank Limited Manila Branch

The forty-five banks listed above are those with the biggest assets in the Philippine banking industry, listed at the BSP website as of June 2022. The largest of these is BDO Unibank and the smallest is Al-Amanah Islamic Bank.



Universal and Commercial Bank Group ranked according to assets (in million of peso as of 30 June 2022): 
  1. BDO UNIBANK INC - ₱3,661,570.82
  2. LAND BANK OF THE PHILIPPINES - ₱2,803,643.64
  3. BANK OF THE PHIL ISLANDS - ₱2,451,097.81
  4. METROPOLITAN BANK & TCO - ₱2,353,735.12
  5. PHIL NATIONAL BANK - ₱1,192,661.70
  6. CHINA BANKING CORP - ₱1,124,083.69
  7. RIZAL COMM'L BANKING CORP - ₱1,030,330.93
  8. DEVELOPMENT BANK OF THE PHIL - ₱971,347.99
  9. SECURITY BANK CORP - ₱796,777.07
  10. UNION BANK OF THE PHILS - ₱769,157.72
  11. EAST WEST BANKING CORP - ₱393,649.43
  12. CITIBANK, N.A. - ₱380,823.02
  13. ASIA UNITED BANK CORPORATION - ₱316,238.04
  14. HONGKONG & SHANGHAI BANKING CORP - ₱208,354.74
  15. BANK OF COMMERCE - ₱207,568.83
  16. ROBINSONS BANK CORPORATION - ₱172,356.27
  17.  PHIL TRUST COMPANY - ₱170,109.26
  18. PHIL BANK OF COMMUNICATIONS - ₱118,498.27
  19. STANDARD CHARTERED BANK - ₱99,915.14
  20. MAYBANK PHILIPPINES INCORPORATED - ₱91,672.44
  21. MUFG BANK, LTD. - ₱88,610.89
  22. MIZUHO BANK LTD - MANILA BRANCH - ₱83,328.02
  23. CTBC BANK (PHILIPPINES) CORP - ₱65,391.51
  24. PHILIPPINE VETERANS BANK - ₱60,067.52
  25. BANK OF CHINA (HONGKONG) LIMITED-MANILA BRANCH - ₱59,627.63
  26. JP MORGAN CHASE BANK NATIONAL ASSN. - ₱58,944.11
  27. DEUTSCHE BANK AG - ₱53,222.69
  28. BDO PRIVATE BANK, INC. - ₱45,374.58
  29. SUMITOMO MITSUI BANKING CORPORATION-MANILA BRANCH - ₱40,064.47 
  30. AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED - ₱33,065.20
  31. ING BANK N.V. - ₱30,028.53
  32. BANK OF AMERICA N.A. - ₱27,448.92
  33. CIMB BANK PHILIPPINES INC - ₱24,369.26
  34. KEB HANA BANK - MANILA BRANCH - ₱20,151.98
  35. MEGA INT'L COMM'L BANK CO LTD - ₱13,669.25
  36. INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED - MANILA BRA - ₱11,810.63
  37. BANGKOK BANK PUBLIC CO LTD - ₱10,691.24
  38. SHINHAN BANK - MANILA BRANCH - ₱9,133.45
  39. INDUSTRIAL BANK OF KOREA MANILA BRANCH - ₱8,952.31
  40. HUA NAN COMMERCIAL BANK LTD MANILA BRANCH - ₱7,226.97
  41. CATHAY UNITED BANK CO LTD - MANILA BRANCH - ₱6,280.55
  42. CHANG HWA COMMERCIAL BANK LTD - MANILA BRANCH - ₱5,707.52
  43. UNITED OVERSEAS BANK LIMITED MANILA BRANCH - ₱4,677.33
  44. FIRST COMMERCIAL BANK LTD MANILA BRANCH - ₱3,681.10
  45. AL-AMANAH ISLAMIC INVESTMENT BANK OF THE PHILS - ₱728.69

See other list of banks in the Philippines:

Acknowledgement: This article is sponsored by Usapang Hanapbuhay.

Bisitahin ang Usapang Hanapbuhay Facebook Group para sa iba pang tips at mga diskarte sa pera!


Like Usapang Hanapbuhay Facebook page for other updates!
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List of Universal and Commercial Banks in the Philippines (with total assets as of 2022)


In today's fast-paced world, having access to quick and reliable financial solutions is crucial. Whether you're planning a dream vacation, managing unexpected medical expenses, or consolidating your debts, RCBC Personal Loan offers you a pathway to achieve your goals.



What is RCBC Personal Loan?

RCBC Personal Loan is a financial product offered by the Rizal Commercial Banking Corporation (RCBC), one of the prominent banks in the Philippines. This loan provides individuals with a convenient and flexible way to access funds for various purposes, such as debt consolidation, home improvement, education, medical expenses, travel, and other financial needs.


For other type of loans, visit my detailed guide for best housing loans and car loans in the Philippines!

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HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

Why Choose RCBC Personal Loan?

Flexible Repayment: Tailor your repayment period according to your financial capability, ranging from 6 to 36 months.

Competitive Interest Rates: Enjoy the benefit of low-interest rates, ensuring that you don't end up paying more than necessary.

Quick Approval: RCBC values your time and aims to process your loan application swiftly, getting you the funds you need when you need them.

Easy Application: With simple requirements and a hassle-free application process, getting a personal loan has never been this convenient.

Expert Guidance: RCBC’s team of financial experts is always ready to assist you, ensuring that you make informed decisions about your loan.



Who Can Apply?


For Employed Individuals:

  • Filipino Citizen or Dual Citizen
  • At least 21 years old upon loan application
  • At most 65 years old upon loan maturity
  • Must have a mobile number, residence landline, or office landline
  • Locally employed at a company registered with Securities and Exchange Commission (SEC)
  • Minimum employment tenure of 2 years and a gross monthly income of Php 30,000

For Self-Employed Individuals:

  • Filipino Citizen
  • At least 21 years old upon loan application
  • At most 65 years old upon loan maturity
  • Must have a mobile number, residence landline, or office landline
  • Business operating in the Philippines for at least 3 years and profitable for the past 2 years
  • Minimum gross monthly income of Php 100,000


How Much Can I Borrow?

Borrowers can apply for a loan ranging from a minimum of PHP 50,000 to a maximum of PHP 1,000,000, depending on their financial needs and eligibility.

RCBC's personal loan calculator allows you to tailor your loan according to your needs. By choosing a loan period that suits you (ranging from 6 to 36 months), you can manage your monthly payments effectively, ensuring that your financial commitments align with your budget.

For example, you are borrowing PHP 50,000 in 12 months:

  • Loan Amount: PHP 50,000
  • Loan Period: 12 months
  • Total Loan Amount: PHP 50,000
  • Interest Rate: 1.3%
  • Monthly Payment: PHP 4,816.67



What are the Requirements Needed for RCBC Personal Loan Application?

RCBC understands the value of your time, which is why the application process is designed to be straightforward. To apply for an RCBC Personal Loan, you need to prepare the following documents:

For Employed Applicants:

  • Accomplished RCBC Personal Loan Application Form
  • Certificate of Employment (COE) or latest Income Tax Return (ITR)
  • 2 valid government-issued IDs
  • Tax Identification Number (TIN)
  • Utility Bill

For Self-Employed Applicants:

  • Accomplished RCBC Personal Loan Application Form
  • Business Papers (DTI or SEC, Mayor’s Permit)
  • Latest Income Tax Return (ITR) or Audited Financial Statements or latest 3-month bank statement


How to Apply for RCBC Personal Loan?

Applying for an RCBC Personal Loan involves a straightforward process. Here's a step-by-step guide to help you through the application:


1. Check Eligibility


Ensure that you meet the eligibility criteria set by RCBC. This typically includes being a Filipino citizen, meeting the age requirements (usually between 21 and 65 years old), having specific contact numbers, and fulfilling income and employment tenure requirements for employed applicants or business-related criteria for self-employed applicants.


2. Prepare Required Documents


Gather all the necessary documents, which may include:

  • An accomplished RCBC Personal Loan Application Form
  • Certificate of Employment (COE) or latest Income Tax Return (ITR) for employed applicants
  • business papers (DTI or SEC, Mayor’s Permit), Latest ITR or Audited Financial Statements, and the latest 3-month bank statement for self-employed applicants
  • You may also need to provide 2 valid government-issued IDs, your Tax Identification Number (TIN), and utility bills.


3. Estimate Your Loan


Use the RCBC loan calculator on their official website to estimate your monthly payments based on the desired loan amount and tenure. This will give you an idea of your repayment obligations.


4. Visit an RCBC Branch


Locate the nearest RCBC branch in your area. Visit the branch in person to discuss your loan requirements with a representative. They will guide you through the application process, help you fill out the application form if needed, and provide assistance regarding the necessary documents.


5. Submit Your Application


Submit your completed application form along with the required documents to the RCBC representative. Ensure that all the documents are accurate and up-to-date. The bank will review your application and documentation to assess your eligibility and creditworthiness.


6. Wait for Approval


Once your application is submitted, wait for the bank's decision. The approval process may take some time as the bank assesses your financial situation and creditworthiness. RCBC will inform you of their decision, whether your loan is approved or not.


7. Receive Funds


If your loan application is approved, RCBC will disburse the loan amount to your designated bank account. Ensure that you understand the terms and conditions of the loan, including the interest rate and repayment schedule.


8. Repay Your Loan


Make timely repayments according to the agreed-upon schedule. This will help you maintain a good credit history and ensure smooth financial transactions with the bank.

Remember, it's crucial to carefully review the terms and conditions, including interest rates and fees, before finalizing your RCBC Personal Loan application. If you have any questions or concerns, don't hesitate to ask the bank representative for clarification during the application process.


ATTRACTIONS TO SEE IN MANILA 

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RCBC Personal Loan opens the door to a world of financial possibilities. Whether you're planning for your future, managing unexpected expenses, or seizing an investment opportunity, RCBC is here to support you.

If you are looking to apply for a credit card, here are my Tips to Get Approved for a Credit Card Application.



ACTIVITIES AND TOURS IN MANILA

Other Low-Interest Personal Loans in the Philippines

Here's a list of banks or financial institutions that offer personal loans with the lowest interest rates in the Philippines:

How to Apply and Get Approved for RCBC Personal Loan (Amount, Interest Rate & Processing Time)

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SWIFT Code or SWIFT Number is commonly known as Bank Identifier Code (BIC), this is the key information needed when sending money from overseas to your Philippine banks.


What is a SWIFT Code?

SWIFT define as the Society for Worldwide Interbank Financial Telecommunication. A SWIFT code is a set of 8 or 11 digits that represents a bank branch. You’ll need to use one when sending money internationally.

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How SWIFT Code is Used?

Wire transfer is common nowadays to transfer money from abroad to a bank in the Philippines. A code that can be utilized as a means of communication.



HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!

Here's my list of useful items for you to save or earn money wisely:

Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:

This is the details how this swift code works

SWIFT CODES uses the following system in designating a bank’s code:
  • Institution Code or bank code = Four letters
  • Country Code = Two letters
  • Location Code = Two letters or two digits
  • Local Branch Code = Last three characters

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List of SWIFT Codes (or BIC) of Philippine Banks

  • ASIA UNITED BANK CORPORATION AUBKPHMM

  • AUSTRALIA AND NEW ZEALAND (ANZ) BANKING GROUP LIMITED
    ANZBPHMX

  • BANK OF COMMERCE
    PABIPHMM

  • BANK OF THE PHILIPPINE ISLANDS (BPI)
    BOPIPHMM

  • BANCO DE ORO (BDO) UNIBANK
    BNORPHMM

  • CHINA BANKING CORPORATION (CHINABANK)
    CHBKPHMM

  • CHINATRUST (PHILS.) COMMERCIAL BANK MANILA
    CTCBPHMM

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  • CITIBANK N.A. (CEBU BRANCH)
    CITIPHMXCBU

  • CITIBANK N.A. (MANILA HEAD OFFICE)
    CITIPHMXV

  • CITIBANK SAVINGS INC.
    CITIPH2X

  • DEVELOPMENT BANK OF THE PHILIPPINES (DBP)
    DBPHPHMM

  • EAST WEST BANKING CORPORATION
    EWBCPHMM

  • HONGKONG AND SHANGHAI BANKING CORP. (HSBC) CEBU BRANCH
    HSBCPHMMCEB

  • HONGKONG AND SHANGHAI BANKING CORP. (HSBC) MANILA HEAD
    HSBCPHMM

  • HSBC SAVINGS BANK (PHILIPPINES) INC.
    HBPHPHMM




  • LAND BANK OF THE PHILIPPINES
    TLBPPHMM

  • MAYBANK PHILIPPINES INC
    MBBEPHMM

  • METROPOLITAN BANK AND TRUST CO. (METROBANK)
    MBTCPHMM

  • PHILIPPINE BANK OF COMMUNICATIONS (PBCOM)
    CPHIPHMM

  • PHILIPPINE BUSINESS BANK (PBB)
    PPBUPHMM

  • PHILIPPINE NATIONAL BANK (PNB)
    PNBMPHMM

  • PHILIPPINE SAVINGS BANK (PS BANK)
    PHSBPHMM


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  • PHILIPPINE VETERANS BANK
    PHVBPHMM

  • PHILTRUST BANK (PHILIPPINE TRUST COMPANY)                                         PHTBPHMM

  • RIZAL COMMERCIAL BANKING CORPORATION (RCBC)
    RCBCPHMM

  • ROBINSONS BANK CORPORATION
    ROBPPHMQ

  • SECURITY BANK CORPORATION
    SETCPHMM

  • STANDARD CHARTERED BANK
    SCBLPHMM

  • UNION BANK OF THE PHILIPPINES
    UBPHPHMM

  • UNITED COCONUT PLANTERS BANK (UCPB)
    UCPBPHMM

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List of Philippine Banks Swift Code/BIC (Meaning & How To Use)


Rizal Commercial Banking Corporation (RCBC) is one of the largest and most reputable banks in the Philippines.



If you are an RCBC customer or in need of assistance with their services, there are several convenient ways to get in touch with their customer support team.

If you are looking to file a complaint, here's a guide on how to contact BSP (​​​​​Consumer Assistance


1. Customer Service Hotline


RCBC provides a dedicated customer service hotline to assist customers with various inquiries and concerns. You can reach their customer service representatives by calling (02) 8885-8888. Be prepared to provide specific details about your inquiry or account to receive prompt assistance.


2. Email Support


For non-urgent matters or if you prefer written communication, you can send an email to RCBC's customer support team. Visit the official RCBC website and look for the "Contact Us" or "Email Us" section. When emailing, include your name, contact information, account details (if applicable), and a detailed description of your concern.



3. Social Media Platforms


RCBC is active on various social media platforms, including Facebook and Twitter. Sending them a private message or commenting on their posts can be an effective way to get assistance. Many companies, including banks, have dedicated social media teams that respond to customer inquiries promptly.


4. Visit a Local Branch


For face-to-face assistance, you can visit an RCBC branch near your location. Check the official RCBC website for a branch locator tool. When visiting a branch, bring valid identification, account details, and any relevant documents related to your inquiry or transaction.



5. RCBC Website and Online Chat


RCBC's official website (rcbc.com) serves as a valuable resource for account holders and potential customers. You can find information about their services, frequently asked questions, and important announcements. Some websites offer online chat support, allowing you to chat with a customer service representative in real-time.


6. Mobile App Support


If you are using RCBC's mobile banking app, there might be an option to seek help or support directly within the app. Look for a "Support" or "Help" section where you can submit inquiries or report issues related to mobile banking services.


7. Write a Letter


Traditional mail is another option for contacting RCBC. You can write a letter explaining your concerns and send it to RCBC's main office address:

Rizal Commercial Banking Corporation
Yuchengco Tower, RCBC Plaza, 6819 Ayala Avenue, Makati City, 1200 Philippines


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When contacting RCBC through any channel, it's important to be clear and concise about your issue, providing as much detail as possible. This will help the customer service team understand your concern and provide you with an accurate and efficient resolution.

Maintain a professional and respectful tone in your communication, even if you are frustrated. Polite and clear communication will help RCBC's customer service representatives assist you effectively and efficiently, ensuring a positive experience for both parties.


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Other Banks Contact Information


How To Contact RCBC (Hotline Number, Email Address & Customer Service)

digital bank philippines highest interest rate digital bank philippines 2022 best digital bank philippines high-interest digital bank philippines best digital bank philippines 2022 union digital bank philippines international finance's best digital bank in the philippines digital banks in the philippines

Did you know that you can now start saving money and earn high interest without even going to a physical bank? Here's how.



Last year, I published a list of Top Digital Savings Banks in the Philippines, featuring the most-used digital banks like CIMB Bank, Tonik, and Maya Bank. Unlike the traditional savings account that offer low interest rates, these digital banks are a great option for those who want to grow their savings.

Also check out the 5 Credit Cards with No Annual Fees in the Philippines

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Digital Bank Accounts with Highest Interest Rate

In this guide, we will discover what are the top digital banks that offer savings account with highest interest rates:



1. Maya Savings


Up to 14% interest rate p.a.

Rate cap: PHP 100,000

Promo period: Until October 31, 2023

Here's how it works:

3.5% p.a.
Open a Maya Savings account

5% p.a.
Spend a total of P250 via
Bills pay, Load, QR,
Checkout, or card

6% p.a.
Spend a total of ₱999
Special bonus interest rate
for Smart Postpaid
subscribers

7% p.a.
Spend a total of ₱1,000
via QR, checkout, or card

9% p.a.
Spend a total of ₱25,000
via QR, checkout, or card

11% p.a.
Spend a total of ₱35,000
via QR, checkout, or card

12% p.a.
Refer a friend with your
@username as the invite
code

14% p.a.
New User Exclusive:
Spend P500




2. CIMB


Up to 12% (new users), 6% (existing users)

Rate cap: PHP 200,000

Promo period: Until June 30, 2023

CIMB Bank currently offers a special interest rate of 12% p.a. for new customers who open an UpSave or GSave account. The offer is valid from May 1 to June 30, 2023.

To be eligible, you must not have any existing open, active, or blocked deposit accounts as of April 30, 2023. For the first two (2) months, you will earn 12% p.a. interest rate on your first PHP 200,000 Total Average Daily Balance (ADB). Any balance in excess of PHP 200,000 ADB will earn the regular base rate of 2.5% p.a. for UpSave and 2.6% p.a. for GSave account.

Existing customers who maintain a total average daily balance (ADB) of PHP 200,000 or more in their UpSave or GSave account can also avail a special interest rate offer of 6% p.a.

The offer is also valid from May 1 to June 30, 2023. To qualify, you must have an active UpSave or GSave account as of April 30, 2023 and maintain a total average daily balance of PHP 200,000 or more for the entire month of May 2023.

If you meet the requirements, you will earn 6% p.a. interest rate on your first PHP 200,000 ADB for the month of May 2023. Any balance in excess of PHP 200,000 ADB will earn the regular base rate of 2.5% p.a. for UpSave and 2.6% p.a. for GSave account.



3. RCBC DiskarTech


6.5% interest rate p.a.

Rate cap: PHP 49,700

Promo period: not specified

RCBC DiskarTech is a ‘financial super app’ that has no minimum balance requirement and zero maintaining balance. It offers a high interest rate of 6.5% p.a., which is significantly higher than the standard interest offered by other banks, which is usually less than 1% p.a.

The account has a maximum deposit limit of PHP 49,700.00. Any balance above PHP 49,700.01 will not earn interest, as the total of your savings and interest is only up to PHP 50,000.

RCBC DiskarTech accounts are considered Basic Deposit Accounts (BDA) of RCBC. Therefore, any money deposited in DiskarTech is also deposited in RCBC.



4. GOTyme Bank

5% interest rate p.a.

Rate cap: no limit

Promo period: not specified

GoTyme Bank offers a 5% p.a. interest rate through Go Save with the tagline, “No missions. No limits. Just simple, secure, and sustainable savings.”

Like Maya Goals, Go Save lets you create up to five different accounts with personalized goals and timelines. You can achieve your objectives at your own pace while earning a 5% p.a. interest rate on your savings.

Additionally, Go Save offers two automation tools to help you save money quickly: Auto-save, which allows you to automatically transfer any amount into your savings account on a daily, weekly, or monthly basis, and Save the Change, which rounds up each swipe of your GoTyme Bank Visa debit card to the nearest PHP 10 or PHP 100 and deposits that extra change into your Go Save account.

The account does not require a minimum or maximum deposit balance to earn interest, and you can earn 5% interest per year, paid monthly to your account.




5. SeaBank

4.5% interest rate p.a.

Rate cap: PHP 250,000

Promo period: not specified

SeaBank offers a high interest rate of up to 4.5% per annum, which is credited daily. This applies to users with account balances up to PHP 250,000. For account balances in excess of P250,000, a 3% interest rate p.a. shall apply.

There is no maintaining balance required, and no lock-in period. You can open an account for free with just one valid ID. Additionally, you can transfer funds from ShopeePay to SeaBank anytime for free.



6. Tonik

4.5% interest rate p.a. (Group Stash), 4% p.a. (Solo Stash)

Rate cap: no limit

Promo period: not specified

The default interest rate of a Tonik savings account is only 1% p.a., but it also offers ‘Stashes’ (similar to Maya Goals) with 4% p.a. for solo stash.

You can set up five stashes which you can then share through group stash with your friends or family that earns up to 4.5% p.a. with at least two participants plus the stash owner.

No pressure at all too as it requires no minimum amount to deposit.



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7. UNO Digital Bank


Up to 4.25% interest rate p.a.

Rate cap: PHP 5,000,000

Promo period: not specified

UNO Digital Bank provides a maximum interest rate of 4.25% per annum. Accounts with an end-of-day balance below PHP 5,000.00 receive a base interest rate of 3.50% gross per annum. Accounts with an end-of-day balance ranging from PHP 5,000.00 to PHP 4,999,999.99 are eligible for a step-up interest rate of 4.25% gross per annum. Once the end-of-day balance reaches PHP 5,000,000.00 or more, the interest rate drops to 1.00% gross per annum.

Interest earned is credited to the account on a daily basis, and funding is simple with InstaPay, PESOnet, and Add Money Online at no cost. UNO also bundle this with a free life insurance coverage worth PHP 50,000.00.



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Ranking Digital Bank Savings Accounts With the Highest Interest Rates in the Philippines

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