Choose a country
Philippines
Select a city
Select a city
Additional Information
English (PH)
Select country
Choose a country
Philippines
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Banks
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Bank of Commerce

Advertiser Disclosure

About bank

Bank of Commerce, also known as BankCom, is a well-reputed universal bank specializing in personal and business loans. They have their headquarters situated in Mandaluyong and the Philippines. Bank of Commerce is a well-reputed universal bank specializing in personal and business loans.

The Bank of Commerce was established in 1963 and is licensed by Bangko Sentral ng Pilipinas (BSP). They have a network of 140 branches and 260 ATMs located nationwide. In 2013, the Securities and Exchange Commission approved the extension of the corporate life of the bank for another 50 years. They are known for multiple products and services, including corporate banking, treasury asset management, security policies, transaction banking, and trusts and investments.

Pros and cons

If you are facing any financial turmoil, the BankCom can lend a helping hand. However, it is always suggested to oneself to be aware of all the advantages and limitations.

Pros

  • They offer an easy application process.

  • They offer the services of a financial calculator so that you can get a better hold of the loan and other factors.

  • They offer effective security policies to protect the confidential information of every client.

Cons

  • The money disbursement takes time.

  • Interest rates are higher in comparison to traditional banks.

Loan conditions

The Bank of Commerce provides loans to Filipino residents aged 22-65. The loan amount varies depending on the loan product the applicant chooses. To qualify for a loan, the applicant must submit a valid ID, bank statements (6 months), and a billing statement (1 month). An employed person needs to submit a copy of income tax returns of the preceding year, a copy of the payslips for the last three months, and a certificate of employment. A self-employed applicant must submit the business registration papers with DTI, audited financial statements, and last year’s ITR. If the applicant is an overseas Filipino worker, they will have to submit the certification of employment and job contract with proof of remittance. If you are one of the regular customers, you need not submit the documents again.

Types of loans

Before submitting a loan application to the BankCom, learn about the variety of lending options offered by them:

Auto loan

Applicants can use this personal loan to finance vehicles. The loanable amount begins with a minimum of ₱100,000 for 12-60 months.

Home loan

Are you thinking of living in your dream house, or are you already living in it, but it needs major repair, or are you thinking of expanding the existing house? In this case, a home loan will be a good choice. The minimum loanable amount for this personal loan is ₱500,000. The interest is the best in the market, and the application process is hassle-free.

Small business loan

If you are running a business at your home and need extra capital, you can seek this personal loan for working capital or day-to-day business expenditure. The pricing for the loan is decided upon the prevailing lending rate.

Other loans

Other than the above-mentioned loans, BankCom offers salary loans, term loans, capital loans, foreign currency-dominated loans, and trust receipt loans. However, the company does not provide any information on these loans on the official site, so if you need to learn more about them, please, contact the Bank of Commerce support.

Bank of Commerce

Reviews

FAQ

What is the Bank of Commerce?

It is a universal bank specializing in financial services. They are an affiliate of San Miguel Corporation and are licensed by the Bangko Sentral ng Pilipinas (BSP).

Who owns Bank of Commerce?

The Bank was established in the year 1963. The key people engaged in the Bank are José T. Pardo (Chairman), Francis C. Chua (Vice-Chairman) and Michelangelo R. Aguilar (President & CEO).

How do you qualify for Bank of Commerce?

To qualify for the Bank of Commerce, the applicant must be a resident of the Philippines and must be between 21-65 years old at repayment. You must have a stable income and a valid identification card. The income slab will vary by the loan you choose. A self-employed person must submit their ITR and business registration details to qualify for the loan, whereas an employed person needs to submit the payslips and job certificate.

Is Bank of Commerce a legitimate company?

Yes, Bank of Commerce is a legit bank having its headquarters in Mandaluyong and the Philippines. The Bank of Commerce is regulated and licensed by Bangko Sentral ng Pilipinas (BSP).

What is the minimum down payment for an auto loan?

The minimum down payment for a new car is 20% of the purchase price and 45% of the purchase price for a used car.

For what period can I take out an auto loan?

The applicant can take out an auto loan of up to 60 months. 

Is the vehicle owned by the bank for the loan period?

Yes, if you opt for a car loan, the temporary ownership is given to the bank. 

Can I take out an auto loan for a used car?

Yes, BOC also offers you a loan for the purchase of a used car. 

What are the requirements for auto loans?

The applicant is required to submit:

  • Certification of Employment stating applicant’s position, income, and length of stay in the company. 

  • Job contract indicating commencement date, contract expiration date, and compensation details. 

  • Job contract indicating that the job is active for an OFW. 

  • Proof of remittance/allotment slips of the latest 3 months.

  • Payslips or equivalent of the latest month.

Do I need to register my car in LTO?

As per law, it is an offence to drive a vehicle without an OR/CR, so we advise you not to drive if it is not registered. It's necessary to register your car in the LTO. 

What is the longest home loan term?

The longest home loan term offered by a bank is 20 years. 

What is the duration of home loan processing?

After the loan application is submitted, BOC generally takes around 2-3 days to reach back to the applicant. After this, the verification process begins and the duration for this depends on the presented documents by the applicant.

What is more profitable - a long home loan term or a short one?

According to statistics, short term loans are more profitable because they offer lower interest rates. But in terms of flexibility, long term loans are much better.

Company documents

Privacy Policy

Our Mission is to deliver excellent banking experiences through competent and attentive professionals who put customers’ needs first.

© Bank of Commerce

Financial products

Bank of Commerce
Auto Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
from ₱100,000
Term
i

Loan term for the financial product

up to 60 months
Bank of Commerce
Home loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
from 500 000 ₱
Rate
i

Effective interest rate on the product

6.25% - 8% per year
Term
i

Loan term for the financial product

10 - 20 years
Bank of Commerce
Salary Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

from 1 month
Bank of Commerce
Yuan savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

¥3,500 minimum initial deposit
Rate
i

Effective interest rate on the product

0.1% per annum
Bank of Commerce
Euro savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

€500 minimum initial deposit
Rate
i

Effective interest rate on the product

0.00% per annum
Bank of Commerce
US Dollar Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$500 minimum initial deposit
Rate
i

Effective interest rate on the product

0.00% per annum
Bank of Commerce
Junior Smart Savers Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱200 minimum initial deposit
Rate
i

Effective interest rate on the product

0.125% per annum
Bank of Commerce
Savings account with ATM debit card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱500 minimum initial deposit
Rate
i

Effective interest rate on the product

0.125% per annum
Bank of Commerce
Savings account with passbook
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱5,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.125% per annum
Bank of Commerce
Savings account plus
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱10,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.125% per annum
Bank of Commerce
World Mastercard®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
All products

Similar products

Equicom Savings Bank
Auto Loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 60 months
PSBC
Car Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 60 months
PSSLAI
Vehicle loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rural bank of Mangaldan
Modified motorcycle loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rural bank of Mangaldan
Modified car loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
MSCB
Consumer loan housing
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 20 years
Equicom Savings Bank
Home Loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
from ₱300,000
Term
i

Loan term for the financial product

up to 25 years
Bank of Makati
Housing and construction loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
PSBC
Housing Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
from ₱1,000,000
Term
i

Loan term for the financial product

up to 15 years
Rural bank of Mangaldan
Housing loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
DIGIDO
Instant online loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4
Recommended FinScore™
0
300
650
1000
₱25000
Rate
i

Effective interest rate on the product

11,9% per month
Term
i

Loan term for the financial product

6 months
Kviku
Online Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱25000
Rate
i

Effective interest rate on the product

up to 0.16% per day
Term
i

Loan term for the financial product

180 days
MoneyCat
Instant cash loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱20000
Rate
i

Effective interest rate on the product

11,9% per month
Term
i

Loan term for the financial product

6 months
Finbro
Personal Loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱1,000 - ₱50,000
Rate
i

Effective interest rate on the product

up to 0.6% per day
Term
i

Loan term for the financial product

up to 12 months
OFBank
Multi-purpose loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rural Bank of Angeles
Time deposit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱1,000
Term
i

Loan term for the financial product

up to 360 days
Rural Bank of Angeles
Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱1,000
Rate
i

Effective interest rate on the product

0.25% per annum
1st Valley Bank
Basic deposit
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱100
Rate
i

Effective interest rate on the product

0.5% per annum
1st Valley Bank
Kids and teens savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱500
Rate
i

Effective interest rate on the product

0.5% per annum
1st Valley Bank
Regular savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

from ₱1,000
Rate
i

Effective interest rate on the product

0.5% per annum
Equicom Savings Bank
Business Card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Equicom Savings Bank
Gold Credit Card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Equicom Savings Bank
Classic Credit Card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
LandBank
LANDBANK General Purpose Reloadable Card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱100,000
LandBank
LANDBANK Travel Card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$10,000

Bank of Commerce loan calculator

Calculate loan payments at Bank of Commerce. Loans calculator will allow you to calculate an approximate payment schedule for the loan.

Bank of Commerce calculator
Interest rates are given in accordance with the rates of the Bank of Commerce in Manila as of 04.12.2022
Loan amount
i

Specify the desired loan amount

PHP
PHP
100000 ₱
15000000 ₱
Loan term
i

Specify the loan term for the calculation

months
days
12
60
City
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Bank of Commerce’s reviews by december 2022
Leave feedback

Similar companies

OFBank
Liwasang Bonifacio 1000 Manila
(+632) 8-405-7000
Rural Bank of Angeles
Corner Miranda Street Sto. Entierro Street Barangay Sto. Rosario Angeles City, Pampanga
+639189679452
1st Valley Bank
1VB Business Center, Vamenta Blvd. Cor. Lirio St. Carmen, Cagayan De Oro City, Misamis Oriental, Philippines 9000
0917 820 8542
MSCB
IDC Centre, Kalayaan Avenue, Cor. Zapote St.,Brgy. Sta. Cruz Makati City
897-9046 local 202 to 203
WealthBank
Taft Financial Center, Cardinal Rosales Ave, Cebu City, 6000 Cebu
091732-WBANK (92265)