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MSCB

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About bank

The Metro South Cooperative Bank (MSCB) is a financial institution in the Philippines that offers banking services to its members. The MSCB, which has its main office in Makati City, provides a wide range of goods and services to support sustainable development for individuals, corporations, and cooperatives through collaboration.

The Metro South Cooperative Bank is the first cooperative bank in the national capital region (NCR). It was founded in 1997 by 34 cooperative stockholders. The bank stands out by offering cooperative and commercial banking services. MSCB is registered by the Cooperative Development Authority (CDA) as a cooperative and the Bangko Sentral ng Pilipinas as a rural bank.

MSCB has made great milestones in capitalization and membership over the years. The initial ₱ 33 million capital has grown to ₱587.3 million, while the current membership exceeds 800 cooperatives as of December 31, 2017. The bank embraces technology and innovation to reach a wider market and offer new opportunities to its customers by collaborating with the leading Fintech companies.

Features

MSCB is among the leading cooperative banks in the Philippines. It provides banking services to cooperatives, including lending and individuals. Credit lines, term loans, and consumer loan housing are the credit facilities the bank offers. Customers also access special loans and saving deposit services while member cooperatives earn interest on their regular savings.

Pros and cons

Interest on savings and free life insurance are perks offered by MSCB to its individual and corporate members. However, some disadvantages are associated with using the bank's products and services, which you should evaluate before opening an account. MSCB has the following advantages and disadvantages:

Pros

  • You need a low minimum maintenance balance of ₱1000 for individual savings deposits and ₱2000 for corporations.

  • Your regular savings account lets you access free life or accident insurance for up to ₱100,000.

  • You get a distribution of profits (patronage) refund when you take up a loan.

  • Your share capital earns you interest.

Cons

  • The bank has many requirements for membership, including CDA registration

  • The bank does not offer loans to new customers and corporations since they must have three years of audited financial statements to qualify.

Products and services

Account holders and member cooperatives can take advantage of various products and services offered by MSCB. Among them are:

Credit Facilities

MSCB credit facilities include:

  • Credit line

  • Term loan

  • Consumer loan housing

  • Auto loan

  • Salary loan

  • Teachers' loan

  • Small business loan

  • The fixed asset acquisition loan

  • Purchase of receivables with recourse

  • Purchase of receivables without recourse

  • Banana growers' loan

  • Back-to-back loan

Special loans

Metro South Cooperative Bank offers three special loans: Pautang Ni Kuya (big brother loan), Tanging Yaman, and Car-a-van home. You must be a member of MSCB to be eligible for any of these loans. To qualify for membership, you must be a registered, active, and a good standing member of CDA. You must also submit your Articles of Cooperation, Bylaws, and audited financial accounts. You must also deposit a minimum capital of ₱25,000, which is computed as 25 shares and a ₱1,000 one-time membership fee.

Saving deposit accounts

You can open a Regular saving account as an indicial, corporation, or cooperative. You need to maintain a minimum balance of ₱1000 and earn interest of ₱2000 as an individual. Corporations require a minimum amount of ₱5000 to maintain and generate interest, whereas cooperatives need ₱2000.

MSCB

FAQ

What is Metro South Cooperative Bank (MSCB)?

Metro South Cooperative Bank is a financial institution that offers banking and cooperative services to individuals, corporations, and cooperatives.

Who owns Metro South Cooperative Bank?

Over 800 cooperatives and individual shareholders own Metro South Cooperative Bank in the Philippines.  

Is Metro South Cooperative Bank legitimate?

Yes. MSBC is legitimate. It is registered by the Cooperative Development Authority (CDA) as a cooperative and Bangko Sentral ng Pilipinas(BSP) as a rural bank. 

What is the minimum downpayment for an auto loan at MSCB?

The down payment depends on the loan amount. Note that individuals should have a ₱1000 and cooperatives a ₱5000 before qualifying for a loan.

For what period can I take an auto loan at MSCB?

You can take an auto loan for a maximum of 60 months.

Does the bank own the vehicle for the loan period at MSCB?

If your loan is secured, the car belongs to you, but if unsecured, it belongs to the bank until you pay your loan fully.

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

Yes. You can get an auto loan for a used car, but the minimum required deposit is higher than for a new car.

Can a long home loan term be more profitable than a short one at MSCB?

No. A short home loan is more profitable than a long one. With a long-term home loan, you pay more monthly interest rates than a short term. However, you should choose a plan that works best for you. 

Company documents

Privacy Policy

Mission - to provide quality banking services of all our stakeholders and strengthen the cooperative movement.

© Metro South Cooperative Bank

Financial products

MSCB
Salary loan
Rating by Finanso®
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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 ₱250,000
Term
i

Loan term for the financial product

up to 36 months
MSCB
Consumer loan housing
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 20 years
MSCB
Small business loan
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
₱10,000-₱200,000
Term
i

Loan term for the financial product

up to 24 months
MSCB
Regular savings accounts
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 ₱2,000
Rate
i

Effective interest rate on the product

0.125% per annim
MSCB
Regular Cooperative Account
Rating by Finanso®
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from ₱1,000
Rate
i

Effective interest rate on the product

up to 0.375% per annum

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