OFFICE OF THE PRESIDENT • REPUBLIC OF THE PHILIPPINES
QUICKNEWS
     
  China Bank
Contact:
885-5555 or visit 3rd floor China Bank Building, 8745 Paseo de Roxas corner Villar Street, Makati City or the nearest China Bank Branch.
     

Background

China Bank started its business on August 16, 1920. It is the first privately-owned local commercial bank in the Philippines. It initially catered to the needs of Filipino-Chinese businessmen. The Bank serves the corporate, commercial, middle, and retail markets with a wide range of domestic and international banking services.

In 1974, the Bank was publicly listed in the Philippines Stock Exchange. In 1991, it was granted its universal banking license by the BSP. It is now considered as one of the largest universal banks in the country in terms of assets, capital base and market value.

 

Features/Requirements for Housing Loan

Eligibility of Borrowers

a. Employed Individuals:

  • Filipino, of legal age but not more than 65 years old upon loan maturity
  • With a steady, dependable & verifiable source of income
  • Employed for at least three years in a supervisory/managerial position with a reputable company
  • Foreigners (to purchase a condominium unit) with a permanent residency in the Philippines of at least five years
  • Minimum Gross Monthly Income (GMI):
    • P50,000/mo. for Metro Manila/Metro Cebu
    • P35,000/mo. for other provincial areas
  • Able to pay an estimated monthly amortization which is:
    • 35% of GMI
    • 75% of Net Disposable Income (NDI); defined as Gross Income net of statutory deductions, long-term loans and family consumption expenses.
  • No adverse credit findings like court cases, bouncing checks, unpaid loans, cancelled credit cards
  • Satisfactory dealings with banks, other creditors, suppliers and clients

 

b. Entrepreneurs/Proprietors:

  • Self-employed professionals should be practicing for at least three years
  • Sole proprietorship/partnership/corporation should be duly registered with DTI or SEC
  • With proven track record in the profession/industry
  • In active and profitable operations for the last three years, per financial statements
  • For corporations, an acceptable principal of the company must act as co-borrower

Purpose

  • Purchase a residential lot, house and lot, townhouse or a condominium unit
  • Construct or renovate residential improvements 
  • Reimburse recent construction or the purchase of residential property
  • Refinance an existing housing loan with other financial institutions
  • Renovation/Improvement Residential Unit

Collateral

             First Real Estate Mortgage on the collateral property

Terms of payment

  • Up to 25 years for a house and lot
  • Up to 15 years for vacant lots
  • Up to 10 years for condominium units

Insurance

  • Fire and MRI (Low insurance premiums through CBC Insurance Brokers Inc.)
   

Branches

 
   
CEBU Center
Banilad Branch

2F CBG Bldg. AS Fortuna Street, Banilad,
Cebu City
Telephone numbers:
(032) 416-1915
(032) 416-1606
(032) 346-4448 to 49
Fax numbers:
(032) 346-4450
PAMPANGA Center
San Fernando Branch

2F CBC Bldg., V. Tiomico Street, Sto. Rosario,
San Fernando, Pampanga
Telephone numbers:
(045) 961-5344
(045) 961-0467
(045) 961-3542
Fax numbers:
(045) 961-8351
   
CAGAYAN DE ORO Center
Lapasan Branch

2F CBC Bldg., Claro M. Recto Avenue,
Lapasan, Cagayan de Oro City
Telephone numbers:
(08822) 72-8195
Fax numbers:
(088) 856-2409
DAVAO Center
Davao Main Branch

2F CBC Bldg., C.M. Recto corner, J. Rizal St.,
Davao City
Telephone numbers:
(082) 226-2103
(082) 221-4163
Fax numbers:
(082) 222-5021
   
ILOILO Center
Iloilo Rizal Branch

2F CBC Bldg., Rizal corner Gomez St.,
Brgy. Ortiz, Iloilo City
Telephone numbers:
(033) 336-7918
Fax numbers:
033) 336-7909
BACOLOD Center
Bacolod Araneta Branch

CBC Bldg., Araneta corner San Sebastian Street,
Bacolod City
Telephone numbers:
(034) 435-0647
Fax numbers:
(034) 433-7153
   
CABANATUAN Center
Maharlika Branch

2F CBC Bldg., Brgy. Dicarma, Maharlika Highway,
Cabanatuan City 3100 Nueva Ecija
Telephone numbers:
(044) 600-1575
Fax numbers:
(044) 463-1063
DAGUPAN Center
Dagupan City Branch

Siapno Bldg., Perez Boulevard,
Dagupan City
Telephone numbers:
(075) 522-8471
Fax numbers:
(075) 522-8472
   
BATANGAS Center
Batangas City Branch

2F CBC Bldg., P. Burgos St.,
Batangas City
Telephone numbers:
(043) 723-7127
Fax numbers:
520-6161
 

 

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