Robinsons Bank Interest Rate and Opening an Account

by Gil on November 12, 2011

Robinsons Bank (RB) is one of the Philippines’ newest banking company with branches concentrated mostly in Metro Manila area. It is owned by JG Summit Group of companies and started in November 1997 to expand JG Summit’s financial business and enter the banking industry in the Philippines.

RB has various products and services catered for the customer’s needs. To give you idea what are its products, it includes deposit products, Internet banking, consumer loan, commercial loan, micro-finance, cash management like e2banking CMS and SSS payments, treasury products, trust products and remittance through Western Union.

Interest Rates and Opening Deposit for Robinsons Bank Savings Account

RB savings account allows you the comfort and flexibility of either a passbook or ATM card in monitoring your account transactions at the same time your money earns a fixed interest rate which you can see below. Some of the important properties of Robinsons deposit account can be seen in the following table.

Opening & maintaining balance PHP 2,000 (ATM)
PHP 5,000 (Passbook)
Average daily balance (ADB) to earn interest PHP 10,000 (Passbook/ ATM)
Interest rate per annum 0.50%
Interest crediting Monthly
Withholding tax 20%

 

Interest Rates and Opening Deposit for Robinsons Bank Checking Account

Robinsons Bank also offers an interest-bearing peso checking account that allows the account holder to issue checks in paying financial dues and other bills like mortgage payment for your house and lot. Your money can be accessed through issuance of check, over-the-counter (OTC) check encashment or direct deposits through ATM.

Opening & maintaining balance PHP 5,000 (Individual)
PHP 10,000 (Corporate)
Average daily balance (ADB) to earn interest PHP 25,000 (Individual & Corporate)
Interest rate per annum 0.25%
Interest crediting Monthly
Withholding tax 20%

 

Account Opening Requirements in Robinsons Bank

Opening a savings or checking account in RB is not hard to do as long as you have the complete requirements and essential documents in the application. In order to process your account application, you should provide the following ID and documents as you apply for an account. In the following table, you could see the different types of account you can apply at RB and the corresponding requirements.

INDIVIDUAL ACCOUNT

SOLE PROPRIETORSHIP

RB Account Opening Form

2 (two) sets of RB Signature Cards

At least 2 (two) valid id of signatory DTI Certificate of Registration
At least 1 (one) photo/picture per signatory Business Permit or Mayor’s Permit with receipt
Proof of Billing At least 2 (two) valid id of signatory
At least 1 (one) photo/picture per signatory
Proof of billing

PARTNERSHIP ACCOUNT

CORPORATE ACCOUNT

RB Account Opening Form

2 (two) sets of RB Signature Cards

SEC Certificate of Registration

Articles of Partnership Articles of Incorporation

By-Laws

Notarized Partnership Agreement/Resolution Notarized Secretary Certificate and/or Board Resolution
At least 2 (two) valid id of incorporators and signatory Election of officers or Updated General Information Sheet (GIS)
At least 1 (one) photo/picture per signatory At least 2 (two) valid id of incorporators and signatory
Proof of billing At least 1 (one) photo/picture per signatory
Proof of billing

HANDOG SAVINGS ACCOUNT

For In-Trust-For (ITF) ACCOUNT

RB Account Opening Form

2 (two) sets of RB Signature Cards

At least 2 (two) valid id of signatory

At least 1 (one) photo/picture per signatory

Validated “International Western Union To Receive” receipt Birth Certificate

 

Robinsons Bank is a new banking company in the Philippines and they still have few branches mostly found in the Metro Manila area. If there’s a branch near your place, it would be better to try to apply for an account because they can be one of the best banks in the country in the years to come. Keep in mind that the table could be changed anytime so it would be better to double check the facts above by visiting Robinsons Bank website.

 

Reference & Image Source: Robinsons Bank

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