About bank
CTBC Bank Philippines officially opened in 1998. It has one of the country's most extensive networks of foreign banks, with 25 branches located around the country. It actively provides financial services to both domestic and foreign businesses and is one of the market leaders in the personal loans industry in the Philippines.
Features
CTBC Bank (Philippines) Corp. was created in 1995 when the nation allowed foreign banks to enter. CTBC Bank (Philippines) Corp. distinguished itself in a fiercely competitive sector with a niche-based approach, highlighting efficiency, innovation, and client attention. They took strength from CTBC, its parent bank in Taiwan, and supplemented it with their local service and innovation brand.
In the Philippines, their marketing promise We are family has taken on fresh meaning while staying faithful to their parent bank's legacy. CTBC Bank (Philippines) Corp. has achieved this balance by focusing successfully on its target markets and cultivating active customer partnerships. The benefits can be seen in the bank's strong financial performance, innovative solutions, and responsive technology-enabled services. More significantly, it has manifested itself in their client's success with the bank on their side.
Pros and cons
Before deciding whether to use any of the bank's products or services, it is prudent to consider the following honest pros and drawbacks, which will assist in making sound judgments.
Pros
- The bank offers various financial products and services for personal and commercial use.
- The bank has a bank app, which facilitates access.
- The bank's website is quite concise, but it is also very quick to navigate.
- The bank offers excellent customer care representatives that are always willing to assist its clients.
Cons
- The bank's Internet banking system is not very secure, as evidenced by recent security breach reports.
- The bank's mobile app has a lower-than-average rating in Google Play and App Store.
Products
As previously indicated, the bank provides a wide range of financial products for both personal and commercial usage; some of them are listed below:
Loans
CTBC Bank provides a wide range of loan products, including:
-
My family home loan. This is a basic home financing program with low fixed interest rates. It offers a loan amount ranging from ₱500,000 to ₱50,000,000 and a loan term of up to 20 years.
-
Salary stretch loans for individuals and corporations:
-
Individual salary stretch loans from CTBC Bank are short-term or mid-term multi-purpose unsecured loans for salaried and self-employed persons. Post-Dated Checks are used to repay loans under this scheme.
-
The CTBC Bank salary stretch loan for business is a multi-purpose non-collateral personal loan available to approved business workers. Loan repayments under this program are made through payroll deduction.
-
-
SME business loan. The Small and Medium Enterprise (SME) loan program is a secured credit facility that meets the needs of entrepreneurs and company owners for business finance. The program offers short-term loans, revolving credit lines, and term loans. The loan amount ranges from ₱500,000 to ₱70,000,000. The loan duration ranges from 30 to 360 days, with a processing time of 21 working days.
-
Back-to-back loans. Back-to-back loans are accessible to existing savings and time deposit account holders to bridge financial gaps for personal and commercial purposes.
Deposits
Some of the bank's deposit accounts are described below:
- Peso savings account. This is a regular/conventional savings account in pesos for individuals or business payroll accounts.
- Peso checking account. This is a standard checking account that pays interest.
- Ultimate earners checking account. This higher-yielding checking account offers clients tiered time deposit rates based on their ADB and number of withdrawals.
- Peso time deposit. This is a peso-denominated normal time deposit account (also known as a deposited certificate or term deposit) that yields a greater interest rate than a regular savings account but is only maintained for a set period or until maturity.
- Dollar savings account. This is a standard savings account in dollars for individuals or business payroll accounts.
- Dollar time deposit. This is a dollar-denominated normal time deposit that earns a greater interest rate than a regular savings account but is only maintained for a certain period or until maturity.
- Visa debit and ATM cards. The CTBC Bank Visa Debit & ATM Card is a convenient, multi-functional debit card that allows bill payment, fund transfer, balance inquiry, and ATM cash withdrawal at over 20,000 BancNet ATMs in the Philippines and over 2.7 million Visa-affiliated ATMs worldwide. These Debit Cards are linked to a Peso Savings or Peso Current Account.
Payment and remittance
The bank also offers payment and remittance services which is the transfer and payment of cash, either inward or outward.
