About Bank
Robinsons Bank Corporation is a commercial bank in the Philippines that offers financial services for deposits, loans, investments, and cards. Located in Quezon City, the bank delivers hallmark value and convenience to its customers through innovative products and services.
Robinsons Bank Corporation (RBank) began as Robinsons Savings Bank in 1997. They changed the name to Robinsons Bank Corporation in 2011. Customers benefit from the bank's products and services, which include deposits, personal loans, cards, e-banking, trade finance, investments, and foreign exchange.
Pros and cons
Robinsons Bank Corporation offers several products and services that can help you manage your finances. However, before deciding where to save or invest your money, familiarize yourself with a financial institution's policies, products, and services, as well as its advantages and disadvantages.
Pros
- The online payment channels enable customers to make and receive payments instantly.
- Their online registration allows customers to apply for their products and services without going to the branch office.
- They offer loans to small businesses which are approved within three days.
- They offer a wide range of loans to suit different customers' needs.
Cons
- Their personal loans are limited to customers working for reputable companies or successful businesses.
- Their interest on loans is relatively high, especially for small businesses.
Products
Robinsons Bank Corporation offers different products and services to its customers, including deposit accounts, loans, investments, and credit and debit cards.
Accounts
- Personal account. To access the benefits of a personal account, you need to open either of these accounts: checking accounts, savings accounts, IPONsurance, passbook savings, rewards savings, Robinsons Bank Corporation savings, Simplé savings, Tykecoon savings, and US dollar savings.
- Time deposit account. Robinsons Bank Corporation offers customers a chance to deposit their money for a fixed time ranging from 35 days to 5 years and enjoy higher interest. There are different time deposit accounts, including peso special savings, peso time deposit, US dollar deposit, and euro and yen time deposit.
Loans
Robinsons Bank Corporations offers customers the following loans:
- Go auto loan. Borrowers who want to acquire new or used vehicles or refinance their cars must be over 25 years old, employed or in a registered business for at least three years, and have identification documents. The interest rate on a car loan varies between 4.22-4.99 % per year, depending on the repayment period.
- Go housing loan. To qualify for this loan, you should be at least 21 years old and less than 65 years upon maturity. The interest charged on housing loans varies between 5.88-10% per annum, depending on the length of the repayment period.
- Go motorsiklo loan. Customers over 21 are eligible for this loan but should not be more than 65 years old upon maturity. Upon approval, the loan term ranges from 6 to 36 months, with a minimum down payment of 8% -30% depending on the service release premium (SRP).
- Corporate salary loan program. The borrower must work for a company with a minimum of 50 employees to be eligible for this loan. The company must also have been in operation for at least three years, and the loan repayment term is determined by the loan amount and the customer's salary.
- Go small biz loan. Permanent employees with at least one year in the current job and business owners with at least three years in the current business are eligible for this loan. The minimum loan amount is ₱500,000, and the maximum is ₱20,000,000. The loan term ranges from 1 to 10 years. Interest per annum depends on the loan term.
Investments
Robinsons Bank Corporation offers investment and treasury products to its customers to suit their financial needs. The investments are short-term with low risk, for example, government bonds. For businesses, the bank offers investment services like unit investment trust fund, investment management account, retirement fund management, escrow, and mortgage trust indenture.
