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.

City Savings Bank

Advertiser Disclosure

About bank

City Savings Bank, Inc. (CitySavings) is a thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and an Aboitiz Group member. The bank is well on its way to becoming the Philippines' foremost mass-market bank, paving the way for inclusive and sustainable prosperity throughout the country.

City Savings Bank is one of the country's largest thrift banks, offering a variety of mass-market financial products and services, including salary loans to public and private school teachers, pension loans to GSIS and SSS pensioners, seafarer loans, motorcycle loans, company loans, LGU salary loans, and traditional deposit products.

The bank was extended to the neighboring city of Tagbilaran, Bohol, after 11 years. City Savings was bought by UnionBank and became a subsidiary of the bank in 2013. They then expanded their Cagayan Valley network by opening a branch in Tuguegarao, Cagayan.

Pros and cons

Before submitting your loan application, it is important to know all the pros and cons of the bank:

Pros

  • The bank offers overdraft protection.

  • It provides physical branch accessibility.

  • Dedicated mobile applications are available to all users.

Cons

  • The bank charges a monthly maintenance charge, which is ₱236.33

  • The interest rates of its savings account are significantly lower than these of competitors.

Loan conditions

The bank offers multiple loan products like teachers' salary loans, pensionado loans, motorcycle loans, and other salary loans. Except for motorcycle loans, the others are restricted to a certain group of people like teachers and personnels who are working at accredited CHED and TESDA schools, pensioners, and workers at private schools, universities, and accredited businesses. Apart from that, motorcycle loans are provided to Filipino citizens who meet certain prerequisites.

City Savings Bank makes loans available to applicants who have a minimum of one month's latest payslip (photocopy and original), a duly completed salary loan/motorcycle loan/pensionado/salary teacher's application form, a photocopy of a valid government-issued ID such as a PRC (back to back), and a photocopy of a permanent appointment (back to back).

Furthermore, within 1-3 days, bank officials will review the supplied paperwork and invite a firm representative to a preliminary meeting. If the parties reach an agreement, a memorandum of agreement is signed. The corporation then creates an account with City Savings Bank if one does not already exist, and the employees can then take out their respective loans.

Types of loans

Before completing a loan application to City Savings Bank, read about the many financing alternatives available to you:

Teacher’s salary loan

The loan is accessible to teaching and non-teaching workers in DepEd Autonomous, DepEd RPSU, CHED, and TESDA. The basic condition is that the borrower has worked for at least one year in a recognized organization. The credit application form is available for download on the Internet. The loan amount ranges between ₱20,000 to ₱1,500,000 with an interest rate of 6% APR.

Pensionado loan

Pensioners aged 40 to 74 who have received a pension for at least one month and hold a valid UnionBank, GSIS, or SSS UMID/eCard card are eligible for the loan. The loan amount ranges between ₱20,000 to ₱500,000, with an interest rate of 1.5% per month. The bank levies a 5% fee for each pensionado loan provided.

Motorcycle loan

This is the only secured credit available. A motorcycle bought with borrowed money serves as collateral. The motorcycle is promised to the bank on the day of purchase, and the borrower becomes the owner of this vehicle. The loan amount ranges between ₱20,000 to ₱300,000, with an interest rate of 3.9% APR.

Salary loan

The maximum loanable salary amount is ₱1,500,000 for a term of 12 to 60 months. For the salary loan, an applicant should be a teacher and staff member of an accredited autonomous school who has served at least one year in permanent and regular positions or is 65 years old upon loan maturity.

FAQ

What is the City Savings Bank?

City Savings Bank, Inc. (CitySavings) is a thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and an Aboitiz Group member.

Who owns City Savings Bank?

In 1965, the bank was formed by Edwin R. Bautista (Chairman), Eugene Acevedo (Vice-Chairman), and Lorenzo "Larry" T. Ocampo. Currently, Eugene Acevedo is the president and CEO of the company.

How do you qualify for City Savings Bank?

For unsecured loans, the borrower has to complete a questionnaire and attach all required documentation. Simultaneously, the application form may be obtained from the website and brought to the office together with a ready-made packet of papers.

Is City Savings Bank a legitimate company?

Yes, City Savings Bank is a legit bank because it is registered under the SEC and is regulated by the Bangko Sentral ng Pilipinas.

What is the minimum down payment for a motorcycle loan?

The minimum down payment for a two-wheeler motorcycle is 5% based on selling prices, and the minimum down payment for a three-wheeled motorcycle is 10%.

For what period can I take out a motorcycle loan?

Most motorcycle financing options offered by the company range from 36 to 60 months.

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

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

Can I take out a motorcycle loan for a used bike?

No, the company does not offer motorcycle loans for used bikes.

What are the requirements for motorcycle loans?

The basic requirements normally include an accomplished and signed application form, your latest payslip, a certificate of employment, photocopies of at least two government-issued IDs, and proof of billing.

Do I need to register my motorcycle in LTO?

As per law, it is an offense to drive a vehicle without an OR/CR, so we advise you not to ride your motorcycle if it is not registered. You are allowed to for seven days Under the LTO No Registration No Travel policy. After that, you can only park your motorcycle or three-wheeler at your house and not use it until it is registered.

What is the longest salary loan term?

The longest salary loan term offered by the bank is 60 months.

What is the duration of salary loan processing?

According to the company, the loan process takes about 48 hours.

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.

We have easy-to-understand products and simple processes.

© City Savings Bank Inc.

Financial products

City Savings Bank
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
up to ₱1,500,000
Term
i

Loan term for the financial product

up to 60 months
City Savings Bank
Motorcycle 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
₱20,000-₱300,000
Term
i

Loan term for the financial product

up to 48 months
City Savings Bank
Pensionado 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
₱20,000-₱500,000
Rate
i

Effective interest rate on the product

1.5% per month
Term
i

Loan term for the financial product

up to 24 months
City Savings Bank
Teachers' 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
₱20,000-₱1,500,000
Term
i

Loan term for the financial product

up to 60 months
City Savings Bank
Motorcycle 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
₱20,000-₱300,000
Term
i

Loan term for the financial product

up to 48 months
City Savings Bank
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 ₱3,000
Rate
i

Effective interest rate on the product

0.25% per annum
All products

Similar products

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
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
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

City Savings Bank loan calculator

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

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

Specify the desired loan amount

PHP
PHP
20000 ₱
1500000 ₱
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 City Savings Bank’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)