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Sterling Bank of Asia

Advertiser Disclosure

About bank

Sterling Bank of Asia is a savings bank whose principal owners are the JTKC Group of Companies, Surewell Equities, and Star Equities. The companies are interested in various industries, ranging from logistics, finance, real estate, manufacturing, hotel, and resort properties.

It was established on March 30, 2007, in response to the Philippine Government's directive to create specialized financial institutions to help the small and medium enterprise sector. In 2012, it was ranked 5th among 67 thrift banks in total deposits and 6th in total assets.

It began operations in 2007 with seven branches before being purchased in 2009 by Centennial Savings Bank. It currently has 47 branches across the country.

Features

The bank was created to offer accessible financial solutions and banking services to commercial and retail market segments. Since opening its first branch in March 2007, Sterling Bank of Asia's network has grown to branches located in critical areas and cities across the country under the leadership of a core group of successful businessmen and entrepreneurs and the management of experienced professional bankers.

They have an innovative and unified identity and a highly skilled and professional team of staff who makes their customers the center of their business, as evidenced by the heart-shaped logo of the bank.

The bank strives to be the bank of choice for its diverse customer base, even in the face of intensified competition in the banking industry and rising customer expectations. In its pursuit of service excellence, the bank strives to support its core values.

Sterling Bank of Asia offers features like online banking, which they call online-personal. With this service, a customer can access an already enrolled Sterling Bank of Asia deposit account and perform some banking transactions through their preferred Internet-enabled device.

Products

To serve large corporations, small and medium-sized enterprises, and retail customers, the bank offers a variety of deposits, loans, investments, asset management, and other financial products through its five business divisions. These are retail banking, commercial lending, consumer lending, treasury, and trust.

Sterling Bank of Asia partners with individual and corporate clients to grow and manage their wealth and resources that will eventually help them reach their financial goals, guided by the philosophy that client's needs must come first and by banking to a different beat. They also offer products like PESONet and ShopNPay.

Here is a detailed overview of the products offered by the bank:

  • Retail Banking. Retail banking allows individual consumers to manage their money, gain access to credit, and deposit their money in a safe manner.

  • Commercial lending. They take out commercial credit to pay for business expenses, real estate, or equipment that borrowers need to operate or expand.

  • Consumer lending. Consumer lending is the kind of financing that targets individuals and households. It includes home and car loans, as well as personal loans for individuals and families that use the funds for personal or family purposes.

  • PesoNet. PESONet is a new electronic funds transfer service that allows customers of participating banks, e-money issuers, or mobile money operators to transfer funds in Philippine peso currency to another participating bank, e-money issuer, or mobile money operator in the Philippines.

  • ShopNPay. Sterling Bank's ShopNPay Visa Debit and Prepaid Cards enable you to access your funds anytime and anywhere in the world. Sterling Bank of Asia offers types of ShopNPay Visa Cards:

    • Debit card. An all-in-one account that allows you to safely access your bank account's funds to make purchases, pay bills, or withdraw cash at ATMs anytime and anywhere in the world.

    • Prepaid card. A reloadable stored-value Visa card that you can use to make purchases, pay bills, or withdraw cash at ATMs anytime and anywhere in the world by loading funds according to your choice of amount.

Pros and cons

The bank offers a vast array of services and products. However, just like any other bank, Sterling also has its set of advantages and disadvantages that we will address below.

Pros

  • The bank takes up the safety of public wealth as a responsibility.

  • The bank offers a global reach.

  • The bank offers a wide variety of products and services.

  • The bank also provides its users with online banking services.

Cons

  • The bank has taken a lot of public debt.

  • The loans offered here have high-interest rates.

Sterling Bank of Asia

FAQ

What is the Sterling Bank of Asia?

Sterling Bank of Asia is a savings bank founded to provide easy access to financial and banking services to both commercial and retail markets.

How much does it cost to keep Sterling Bank's balance?

The Solo Basic Savings Account does not have a maintenance balance or dormancy fee. Depositors who maintain a balance of ₱2,000 in their account can earn 0.5% interest per annum while enjoying the security of growing their hard-earned savings.

What is the Sterling Bank Solo Basic Savings Account?

This is a savings account for Filipinos who want to start accumulating in the bank, even in small amounts.

Company documents

Terms of use
Privacy Policy
Safety and Security
Consumer Protection Policy
Company Disclosures

Our highly skilled and professional staff remain focused on making the customers the center of its business as depicted by the Bank’s heart-shaped logo.

© Sterling Bank of Asia Inc.

Financial products

Sterling Bank of Asia
Layag Seafarer's Loan
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Recommended FinScore™
0
300
650
1000
₱20,000 - ₱500,000
Term
i

Loan term for the financial product

3 - 11 months
Sterling Bank of Asia
Avance Salary Loan
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Recommended FinScore™
0
300
650
1000
₱10,000 - ₱500,000
Term
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Loan term for the financial product

6 - 36 months
Sterling Bank of Asia
Persona Personal Loan
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Recommended FinScore™
0
300
650
1000
₱30,000 - ₱1,000,000
Rate
i

Effective interest rate on the product

17.40% per year
Term
i

Loan term for the financial product

3 - 36 months
Sterling Bank of Asia
Ultima Auto Loan
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Recommended FinScore™
0
300
650
1000
from ₱100,000
Rate
i

Effective interest rate on the product

depends on the loan term and amount
Term
i

Loan term for the financial product

12 - 60 months
Sterling Bank of Asia
Discovery Home Loan
Rating by Finanso®
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Recommended FinScore™
0
300
650
1000
₱500,000 up to ₱10,000,000
Term
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Loan term for the financial product

1- 25 years
Sterling Bank of Asia
Domestic Bills Purchase
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Recommended FinScore™
0
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650
1000
Sterling Bank of Asia
Domestic LC/ TR
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Recommended FinScore™
0
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Sterling Bank of Asia
Term Loan
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650
1000
Sterling Bank of Asia
Standby LC or Bank Guarantee
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Recommended FinScore™
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650
1000
Sterling Bank of Asia
Import Letter of Credit (LC) & Trust Receipt (TR)
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Recommended FinScore™
0
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650
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Sterling Bank of Asia
Developmental Loan
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Recommended FinScore™
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Sterling Bank of Asia
Trade Check Discounting
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Sterling Bank of Asia
Short Term Loan
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Recommended FinScore™
0
300
650
1000
Term
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Loan term for the financial product

up to 12 months
Sterling Bank of Asia
Duo Checking Account
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₱5,000 minimum balance to earn interest
Rate
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Effective interest rate on the product

0.25% per annum
Sterling Bank of Asia
Bayani OFW Savings Account
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₱2,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

1% per annum
Sterling Bank of Asia
Solo Yuan Savings Account
Rating by Finanso®
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¥2,500 interest earning balance
Rate
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Effective interest rate on the product

0.15% per annum
Sterling Bank of Asia
Solo basic savings account
Rating by Finanso®
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₱2,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

0.50% per annum
Sterling Bank of Asia
Solo dollar savings account
Rating by Finanso®
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$500 interest earning balance
Rate
i

Effective interest rate on the product

0.125% per annim
Sterling Bank of Asia
Solo Savings Account
Rating by Finanso®
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₱5,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

0.50% per annum
Sterling Bank of Asia
ShopNPay Visa Prepaid Card®
Rating by Finanso®
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Sterling Bank of Asia
ShopNPay Visa Debit Card®
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All products

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