PMT Forum
Do you want to make money today? :)

MOST STABLE RURAL BANKS IN THE PHILIPPINES TODAY!?

DARK_KNIGHT · 85 · 33667

lowprofile

  • Forum Tambay 100
  • ***
    • Posts: 126
    • Likes Received: +0/-0
BP22estafa,

San mo nakuha yung news about Landbank awarding several rural banks?

Thanks.


barister98

  • Forum Tambay 200
  • ***
    • Posts: 281
    • Likes Received: +0/-0

Neo_depositor,

That's a bit hard to answer especially now that a lot of rural banks are facing the slammer.Dont get me wrong rural banks are still good investment. You need to back read on on several threads here about rural banks and you will have a inkling of  which rural bank to trust your money into. The important part is do a bit of research yourself. Personally Bank of Makati and First Country is on the top of my list but thats just me.


Bank of Makati and First Country Bank are the rural banks i have exposure with.


barister98

  • Forum Tambay 200
  • ***
    • Posts: 281
    • Likes Received: +0/-0
Hope we could get the latest list of most stable banks for 2010.


Kabalyero111

  • Probie
  • **
    • Posts: 14
    • Likes Received: +0/-0
Hi! I am new here. Always did things on my own....until I found this site. I am not here to receive but also to give my own knowledge.

Does anyone know which rural bank is giving the best rate for time deposits? And for those who experienced having deposits in rural banks that closed, how long did you have to wait for your PDIC claim? Never invested in rural banks before but i am considering now. Kinda tiring checking technical graphs monitoring movement of stocks...although I will forever be a stock investor.  


AMARANTH

  • PMT Jedi 2500
  • ****
    • Posts: 2,615
    • Likes Received: +0/-0

barister98

  • Forum Tambay 200
  • ***
    • Posts: 281
    • Likes Received: +0/-0

AMARANTH

  • PMT Jedi 2500
  • ****
    • Posts: 2,615
    • Likes Received: +0/-0
The reason for its closure may be debatable but its sister company did close last july 17.  


Bitster

  • Forum Expert 600
  • ****
    • Posts: 655
    • Likes Received: +0/-0

Kabalyero111

  • Probie
  • **
    • Posts: 14
    • Likes Received: +0/-0
Hmm, what's with Double Your Money in 5 years? Is that illegal now? That's only 14.87percent per annum and if the bank is lending at at 2percent to 3percent/month even only at an interest only monthly amortization with the principal payble at the end of the term, they should still be profitable. What more if the principal payments of the loans are to be amortized also monthly? In that case, 2percent/month's effective rate is not only 24% but maybe around 40% per annum.

Legacy/RBOP's DYM was offered before by agents with an interesting incentive to the depositor: advance one year interest daw. Thus, if you deposit P1M for a DYM5Years program, you receive OUTRIGHT your advance one year supposed income of P200,000!  I learned from an agent that they get a 10% commission. (I think an agent for these products should only get 1to2percent max.) Assuming that the commission is based on the net deposit of P800,000 (after deducting the 20% advance interest), what the bank actually received is only P720,000 which it should return at P2million in five years! In other words, its cost of money is no longer 14.87% p.a. only, but much more. That's why I didn't invest in their bank. (Eventualy, legacy/rbop was offering DYM in 3 years...again through agents!) I didn't invest in other rural banks because i wasn't really looking to invest with them...and no agents approached me. hehe. I was more into stocks/mutual funds.

I don't know if there is a BSP/PDIC cap on interest rates, but I think there should be. I don't know why RBOP was allowed to do it for almost a decade. Other rural banks and even bigger banks were in a way forced to increase their deposit rates because if they don't, depositors would naturally transfer their deposits from them to RBOP.

However, deposits should always be insured regardless of the interest rate (which on the other hand the PDIC should really not insure). I think this is still the rule up to P500,000. It's a question how long you get your claim.

I agree that we should ask BSP first if our deposits with these banks are really insured, specially if there is really such a rule that they won't be if they are 50% above peer banks.


prnd32

  • Forum Master 300
  • ***
    • Posts: 368
    • Likes Received: +0/-0
many rural banks nowadays are being bought by bigger banks...when dealing with rural banks, try to know the owners and their reputation in the community..

Post Merge: 1344146040
The following rural banks have been recently placed under PDIC receivership:

Rural Bank of Naguilian (La Union)
Banco Batangan (Batangas)
Rural Bank of Badiangan (Iloilo)
Millenium Bank (Cabanatuan)
Rural Bank of Tagkawayan (Quezon)
Rural Bank of Banayoyo (Ilocos Sur)
« Last Edit: Aug 05, 2012, 02:07 PM by prnd32 »


 


PMT Shoutbox

Refresh History
  • Post only questions or comments here. Advertisements NOT ALLOWED.
  • Niel Jhacoubs: To bpc85 kung nakalagay ang inyong names sa beneficiary list ng iyong ama kay may makukuha po kayo.
    Nov 28, 2019, 02:18 PM
  • Niel Jhacoubs: Hellooooo, its been a while. :)
    Nov 28, 2019, 02:16 PM
  • miakashidou31: hi , meron po ba ditong nagta transfer sa paypal?
    Nov 05, 2019, 01:46 PM
  • whennedy: good noon po
    Oct 18, 2019, 12:04 PM
  • edzlpdac: goood day po sa lahat!
    Oct 12, 2019, 03:37 PM
  • bpc85: ask lng sana ako kung may makukuha ba kami ng Mama ko at ako or mga kapatid ko sa benepisyo ng aming Ama bilang membro ng AFPSLAI. thank you po.
    Sep 27, 2019, 12:52 PM
  • bpc85: Hi guys, im new here,.
    Sep 27, 2019, 12:52 PM
  • Anaperdi: Hi just want to know if meron dito who is into boundary hulog ng motorcycle? For mga riders ng courier. Pwede ba magpashare how it works? Naisip ko lang baka pwede ko ibusiness, meron na pala mga posts online pero di pa clear ang system sa akin. thank  you sa makakapansin
    Sep 21, 2019, 11:32 AM
  • Anaperdi: Hi newbie here..
    Sep 21, 2019, 11:19 AM
  • jprios: May contact ba kayo kung sakali?
    Sep 18, 2019, 06:11 PM
  • jprios: Sino pwedeng mahiraman dito?
    Sep 18, 2019, 06:09 PM
  • kfg52: Present!
    Sep 15, 2019, 07:26 PM
  • juju31: san po ba may nag papahiram dito
    Sep 14, 2019, 07:18 PM
  • juju31: hello
    Sep 14, 2019, 07:18 PM
  • FutureGizmo: Thanks julz! Medyo ganun nga trabaho namin ngayon, to monitor spam posts kasi ang daming spam bots. But thanks for reporting. Auto-ban agad ang spammers sa amin haha
    Sep 07, 2019, 12:17 PM
  • julz: @FutureGizmo si @nikkikv18 just posted more than 10 posts about porn sites. hay, spam.
    Sep 03, 2019, 01:05 PM
  • Cid_brent: sino po dyan pwede magbigay send ng paypal funds and I will pay you using gcash?
    Aug 25, 2019, 08:58 PM
  • Meghan91811: Sino po may alam about Rice Farming...
    Aug 25, 2019, 07:44 AM
  • roselove: hello po sa inyo... newbie here
    Aug 06, 2019, 03:31 PM
  • Niel Jhacoubs: Sino palaging active dito?
    Jul 30, 2019, 04:15 PM
  • dagocjasonrey: Anong update dito?
    Jul 22, 2019, 08:49 PM
  • mark_Lee: anong bago dito
    Jun 28, 2019, 01:03 AM
  • mark_Lee: balita
    Jun 28, 2019, 01:03 AM
  • Lovelyprincess72: hi everyone , I'm newbie here
    Jun 27, 2019, 02:36 PM
  • Niel Jhacoubs: Musta?
    Jun 26, 2019, 01:43 PM
  • Forexanalysis: Hello
    Jun 25, 2019, 06:33 PM
  • Niel Jhacoubs: Hello sa mga online jan! :)
    Jun 15, 2019, 02:58 PM
  • oragon: :applause:
    May 20, 2019, 03:53 PM
  • FutureGizmo: Thank you for reporting those spam posts, oragon! Spam posts now deleted.
    May 20, 2019, 01:59 PM
  • oragon: Admin kindly monitor some peps! posting and sharing inappropriate nude photos and website links
    May 20, 2019, 01:52 PM
  • @culinary10: Hello I am new here! Regarding sa bdo life insurance for 8 years, pwede pa kaya ma refund yung binayad ko na 50k last year? Gusto ko sana icancel kasi lack of financial na, last may 15 2018 po un nag start ako ng life insurance, pinili ko annually kaso etong may 15 2019 wala nako ma ipay so gusto ko sana icash out, may alam ba kayo kung pano marerefund?
    May 17, 2019, 07:56 PM
  • FutureGizmo: Hi Sonny, the posting issue is now resolved. Thanks for informing us! We're currently testing a new, mobile-ready theme so let us us know kung may problema pa sa Forum. :)
    Apr 04, 2019, 10:40 AM
  • sonny.wapak: Nakaka receive din ba kayo nito pag gawa ng new post? "Please try again. If you come back to this error screen, report the error to an administrator."
    Apr 03, 2019, 10:56 PM
  • leonine_zafiro: what product nun?
    Apr 01, 2019, 10:25 PM
  • dhondiex27: hi
    Mar 30, 2019, 10:55 PM
  • lusart: jayrob i agree 200%. hulog ng langit organico. legit na legit
    Mar 29, 2019, 09:08 AM
  • palemelch: Hi
    Mar 28, 2019, 04:08 PM
  • O.C.W._AK: Magandang Araw sa Lahat! Blessings! (",)
    Mar 28, 2019, 08:42 AM
  • thor15: hello everyone, newbie here
    Mar 25, 2019, 01:47 AM
  • captjaylo: present newbie here
    Mar 22, 2019, 10:06 AM
  • balboagilbert26: hello Guys .. Newbie here
    Mar 21, 2019, 10:55 PM
  • businesswoman2019: @jefsanity nag inquire na po ako pero di sila nagdidisclose. Yung branch po kasi na target ko, currently building pa.
    Mar 21, 2019, 04:27 PM
  • jefsanity: @businesswoman2019, much better inquire ka na lang sa admin nila.
    Mar 21, 2019, 01:51 PM
  • businesswoman2019: Hello! Any idea how much ang stall sa waltermart. 2m x 2m
    Mar 21, 2019, 08:28 AM
  • John Neil: Looking for an accredited iron foundry
    Mar 17, 2019, 03:19 PM
  • jayrob: Mark_Lee ung organico legit po yan..  Member din AQ..
    Mar 17, 2019, 12:57 AM
  • perlymelad: Hello po! Need advice, why my new MLM leaders failing?
    Mar 14, 2019, 08:51 PM
  • perlymelad: Present
    Mar 12, 2019, 07:53 PM
  • kennethmauricio: Hi saan po dito pwede mag post ng for sale properties?
    Mar 11, 2019, 07:58 PM
  • jefsanity: @mark_lee isipin mo anu passion mo at skills mo...
    Mar 11, 2019, 06:52 PM