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AMA Rural Bank

nailbiter · 44 · 18069


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on: Mar 17, 2007, 08:44 AM

AMA Rural Bank offers 11.5% gross for their 1 year time deposit. They are very strong on second-hand car loans (duon na napupunta ang mga pera nila). Mas mababa kesa sa 20% ng ibang rural banks. Pero this is in a way very fast (12 months lang  :hihi:).

AMA Rural bank pays me monthly interest at meron silang customer service. our agent brings the monthly interest to us in CASH. Its highly personalized  :clap: kaya oks na rin maksi hindi kasing taas ng legacy group banks.

Anong minimum deposit sa 1-yr TD ng AMA?
« Last Edit: Apr 05, 2007, 03:52 PM by nailbiter »


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Reply #1 on: Mar 18, 2007, 06:02 PM
I also have money in AMA, double your money pa nga in five or six years. My wife and I personally went there. The bank looks kind of questionable, so we parked only that which is covered by PDIC. I think we have about three years to go.


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Reply #2 on: Mar 20, 2007, 08:34 AM
In another thread, Carlo offers the info that AMA rural bank may be in trouble.  He asks for more info about this bank.  AMA is known for lending to used car buyers (it aggressively advertises in major newspapers) at a low interest rate of 7-8% per annum. This must be its major product.   If it can offer 11.5 interest rate on its TDs, then it is incurring a net loss of about 3%.  Of course, its saving rate must be about 2% but still----it begs the question.  Can AMA bank sustain a negative deposit to loan rate for long?


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Reply #3 on: Mar 20, 2007, 11:08 AM
My AMA agent told me that the car loan is 24% interest. The 7-8% interest as advertised is very limited offer as a come on with specific models of car. Try calling them and inquire about their car loans and you will be surprised that the car model that you are intending to buy does not fall under the 7-8% interest offer (baka pang minicar lang). Strategy yan ng mga banks to attract potential borrower. Walang bank na magpapalugi maski kailan. So they earn half of what is being offered to the public as loans in relation to the time deposit placement (24% vs. 11.5-12%). As to the "physical look" of the bank, ano kaya ang ibig sabihin ng kinda questionnable? Sorry hindi ko ito maintidihan kasi the financial status of the bank is not dependent upon the building of the bank :confused:
« Last Edit: Mar 20, 2007, 11:27 AM by salingpusa »


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Reply #4 on: Mar 20, 2007, 11:53 AM
I agree- the financial condition of the bank does not have any relation to how the bank looks like.  In fact, it may even be a good sign of keeping expenses down which is always good economics.  

But i cannot understand why a borrower would agree to paying AMA rural ban 24% for a used car loan when BPI family and other commercial banks would give an auto loan with an APY of 12-14%.


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Reply #5 on: Mar 20, 2007, 12:24 PM
Filipinos in general do not compute. Those who take loans are very aggressive and daring, neglecting to do their homework (i.e., to survey the other banks). Usually whatever is available and accessible, they go to that institution. Fast release of loans is the key. AMA is aggressive in pursuing those people and also AMA is offering loans for second hand cars while other banks concentrate on brand new cars.  :thumbsup2


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Reply #6 on: Mar 20, 2007, 01:43 PM
Well. BPI family offered me an auto loan for a car as long as it is not over 3 years old!!!


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Reply #7 on: Mar 20, 2007, 07:22 PM
I guess I was unfair to judge a bank by the way it looks. You see, I also have long-term deposits in AUB, ING, I-Bank, Security Bank, Bank of Commerce, Citibank, and Metrobank. I also have accounts in Allied, Equitable, BPI, and BDO. I guess my impression was influenced by how these other banks look. Nevertheless, I parked P750K in three accounts in AMA, and never questioned it until now.  I really hope my friend is misinformed, because I'd like to keep my money there for it to earn interest. But I'll let you guys know if I hear anything definite.


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Reply #8 on: Mar 20, 2007, 07:31 PM
Carlo, when you hear of brewing trouble in a bank that you have deposits. I suggest you exert all efforts to get more info.  Obviously, the earlier, the better.  And if you hear anything definite, it usually is too late- the bank has closed down!


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Reply #9 on: Mar 20, 2007, 09:46 PM
I will be getting in touch with my friend tomorrow. He didn't go into details and I respected that. In hindsight, I should have pushed more. I'll let you guys know soon.


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Reply #10 on: Apr 14, 2007, 02:16 PM
Carlo, any update on the current state of AMA bank?javascript:void(0);


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Reply #11 on: Apr 14, 2007, 07:08 PM
I heard the same thing. and I have money in AMA also. But going through the thread about the Legacy Group, it seems kinda reasonable to keep my investments in AMA and, God Forbid, have faith in PDIC, in the worst possible scenerio.  And in fact, I am in talks with Mr. Lucero to invest in some Legacy Banks.


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Reply #12 on: May 29, 2007, 12:05 PM
The interest rate for one year placement has gone down to 7.5% (with 20% withholding tax) as of this month according to our agent servicing us.


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Reply #13 on: Jun 27, 2007, 07:53 PM
The problem with AMA bank is the management.  Their school may be popular because of the ads but the management is terrible.  They don't pay suppliers, employees, etc. on time.  They accept enrollees even though the school is not yet ready.  Bottom line is why invest in a company that is not handled well.  The owners will do everything to cover any bad publicity.  In fact sa DOLE at iba pang government agencies e sanay na sila sa mga kalokohan ng owners at management.  Park your money with other banks that have a solid reputation and track record.


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Reply #14 on: Jun 27, 2007, 10:00 PM
AMA Rural Bank and AMA Computer College are totally different.. I think they are not connected at all.. :yoohoo:


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