10.20.2015

Rural Banks That Offer Checking Accounts

By Nora

If the bigger banks denied your application to open a checking account with them, try opening a checking account with one of these rural banks that offer checking accounts or demand deposits.

Bring: -  at least 2 valid photo IDs
           -  initial deposit (maintaining balance amount)
           -  2 ID pictures
           -  Be ready to explain why you need a checking account,
                and how you are going to fund it.
           -  If you can get a referral letter, it will help you.
              It can be from a long-time client of the bank,
               or from your housing developer,
               or your car dealer.

RB means Rural Bank
         
1     1st Macro Bank Inc. (A RB)
          Maintaining Balance: 5,000

2     Agricultural Bank of the Philippines Inc.
           Maintaining Balance: 2,000
           No interest
           Penalty for falling below required balance: 100 per month
           Cost of checkbook: 250

3     Aliaga Farmers RB Inc.

4     AMA RB of Mandaluyong Inc.
         Initial Deposit: 5,000
         Maintaining Balance: 5,000
         Penalty for falling below maintaining balance: 200

5     ASPAC RB Inc.

6     AuroraBank (A Microfinance-Oriented Rural Bank) Inc.

7     Balanga RB Inc.

8     Banco De Mindoro Inc. (A RB)

9    Banco Dipolog Inc. A RB

10  Banco Laguna Inc. (A RB Since 1965)

11  Banco Maximo Inc. (A RB)

12  Bangko Kabayan (A RB)
          Maintaining Balance: 5,000

13  Bangko Mabuhay (A RB) Inc.
          Maintaining Balance: 5,000
          Metro Manila clearing

14  Bank of Ormoc Inc. (A RB)

15  Bankways Inc. (A RB)

16  Batangas RB for Cooperative Inc.

17  Benguet Center Bank Inc. (A RB)

18  Binan RB Inc.

19  BOF Inc. (A RB)
          Maintaining Balance: 5,000
          Included in Metro Manila clearing

20  Butuan City RB Inc.

21  Cabanatuan City RB Inc.

22  Camalig Bank Inc. (A RB)
           Maintaining Balance: 5,000

23  Cantilan Bank Inc. (A RB)

24  Card Bank Inc. (A Microfinance RB)

25  Cebuana Lhuillier RB Inc.
        Initial Deposit: 5,000
        Maintaining Balance: 2,000
        No interest

26  Century RB Inc.

27  Classic RB Inc.

28  Community RB of Dapitan City Inc.

00  Country Builders Bank
         Maintaining Balance: 5,000
         Interest Rate: 0.1% per year

29  Countryside Cooperative RB of Batangas

30  CSFirst Bank Inc. (A RB)

31  Cuyapo RB Inc.

32  Diamond RB Inc.

33  Dumaguete RB Inc.

34  East Coast RB of Hagonoy Inc.

35  East West RB Inc.
         Maintaining Balance: 4,000
         No interest

36  Empire RB Inc.

37  Enterprise Capital Bank Inc. (Taguig RB)

38  Entrepreneur RB Inc.

39  Filidian RB of Antipolo Inc.

40  First Agro-Industrial RB Inc. (Fairbank)
          Maintaining Balance: Low
          Interest rate: 1% per year

41  First Community Bank Inc. (RB)

42  First United Farmers RB Inc.

43  Gateway RB Inc.

44  Guagua RB Inc.
         Maintaining Balance: 5,000
         For local entrepreneurs

45  Imus RB Inc.

46  Innovative Bank Inc. (A RB)

47  Insular Savers Bank Inc. (A RB)

48  Kaluyagan RB Inc.

49  Katipunan Bank (Zamboanga Del Norte) Inc. A RB

50  Koronadal RB Inc.

51  Laguna Prestige Banking Corp. (A RB)
         Maintaining Balance: 2,000
         If this is for a Pag-ibig housing loan, bring letter
         from the developer, approved by Pag-ibig Fund.

52  Limcoma RB Inc.

53  Lipa Bank Inc. (A RB)

54  Malarayat RB Inc.

55  Mallig Plains RB (Isabela)

56  Marayo Bank Inc. (A RB)

57  Masuwerte RB of Bacoor (Cavite) Inc.

58  Mount Makiling RB Inc.

59  MVSM Bank (A RB Since 1953)

60  New RB of San Leonardo (Nueva Ecija) Inc.

00  One Network Bank
          Maintaining Balance: 5,000
          Penalty for below-maintaining-balance: 200 per month

61  Oriental Tamaraw RB of Naujan (Oriental Mindoro) Inc.

62  Own Bank The RB of Cavite City Inc.

63  Palm Tree Bank Inc. (A RB)

64  Panguil Bay RB of Ozamiz Inc.

65  Partner RB (Cotabato) Inc.

66  Penafrancia RB of Calabanga (Camarines Sur) Inc.

67  PlanBank RB of Canlubang Planters
         Maintaining Balance: 4,000
         To earn interest per quarter, maintain 20,000 for the whole quarter

68  Progressive RB Inc.

69  Quezon Capital RB Inc.

70  Rang-ay Rural Inc. (A RB)

71  RB of Abucay (Bataan) Inc.

72  RB of Agoo Inc.

73  RB of Alaminos (Pangasinan) Inc.

74  RB of Angeles Inc.

75  RB of Angono Inc.

76  RB of Antipolo Inc.

77  RB of Baco (Oriental Mindoro) Inc.

78  RB of Bacolod City Inc.

79  RB of Bacong (Negros Oriental) Inc.

80  RB of Baguio Inc.

81  RB of Bambang (Nueva Vizcaya) Inc.

82  RB of Bauang Inc.

83  RB of Bayombong Inc.

84  RB of Cabadbaran (Agusan) Inc.

85  RB of Cainta Inc.

86  RB of Calaca Inc.

87  Rural Bank of Caloocan Inc.

88  RB of Cardona (Rizal) Inc.

89  RB of Cauayan Inc.

90  RB of Central Pangasinan (Bayambang)

91  RB of Compostela (Davao del Norte) Inc.

92  RB of Digos Inc.

93  RB of Goa Inc.

94  RB of Iligan City Inc.

95  RB of Ilog (Negros Occidental) Inc.

96  RB of Iloilo City Inc.

97  RB of Infanta Inc.

98  RB of Jaen Inc.

99  RB of Jose Panganiban (Camarines Norte) Inc.

100  RB of Kawit Inc.

101  RB of Lemerey Inc.

102  RB of Liloy (Zamboanga Del Norte) Inc.

103  RB of Lipa City (Batangas) Inc.

104  RB of Lucban (Quezon) Inc.

105  RB of Mabitac (Laguna) Inc.

106  RB of Mangaldan Inc. (Bangko Rural)

107  RB of Maria Aurora (Aurora) Inc.

108  RB of Mati Inc.

109  RB of Midsayap Inc.

110  RB of Montalban Inc.

111  RB of Nagcarlan Inc.

112  RB of Naic Inc.

113  RB of Padre Garcia Inc.

114  RB of Paete Inc.

115  RB of Pagbilao Inc.

116  RB of Pandi (Bulacan) Inc.

117  RB of Pilar (Bataan) Inc.

118  RB of Plaridel (Bulacan) Inc.

119  RB of Polomolok (South Cotabato) Inc.

120  RB of Porac (Pampanga) Inc.
           Maintaining Balance: 5,000
            Interest rate: 0.25%
            To earn interest, maintain 20,000

121  RB of Ragay (Camarines Sur) Inc.

122  RB of Rizal (Laguna) Inc.

123  RB of Rizal (Zamboanga Del Norte)

124  RB of Rosario (La Union) Inc.

125  RB of Sagay Inc.

126  RB of Salinas Inc.

127  RB of San Jose (Camarines Sur) Inc.

128  RB of San Juan (Southern Leyte) Inc.

129  RB of San Matero (Isabela)) Inc.

130  RB of San Pascual (Obando Bulacan) Inc.

131  RB of San Rafael (Bulacan) Inc.

132  RB of Sibulan Negros Oriental Inc.

133  RB of Solano (Nueva Vizcaya) Inc.
           Regular checking account: No interest

134  RB of Sta Catalina Negros Oriental Inc.

135  RB of Sta Rosa (Laguna) Inc.

136  RB of Sto Domingo (Nueva Ecija) Inc.

137  RB of Talisay (Batangas) Inc.

138  RB of Tangub City (Misamis Occidental) Inc.

139  RB of Tanjay Inc.

140  San Bartolome RB Inc.

141  Saviour RB Inc.

142  SG Bank − A RB Inc.

143  South Bank (A RB) Inc.

144  Sta Maria RB Inc.

145  Sugbuanon RB Inc.

146  Summit Bank (RB of Tublay Inc.)

147  Summit RB OF Lipa City Inc.

148  Sunrise RB (Rosario Batangas) Inc.

149  Tamaraw RB Inc.

150  Tanay RB Inc.
          Maintaining Balance: 4,000

151  Tiaong RB Inc. (TRBI)
           Maintaining Balance: 2,000
           Service charge for Below-Maintaining Balance: 300

152  Towncall RB Inc.

153  United People's RB Inc.

154  Vizcaya Bank A RB Inc.

155  Women's RB Inc.

156  Zambales RB Inc.

157  Zamboanga City RB Inc.

Cooperative Banks That Offer Checking Accounts

1   Cooperative Bank of Misamis Oriental

2   Cooperative Bank of Quezon Province

3   Cooperative Bank of Cebu

4   First Isabela Cooperative Bank Inc. (FICO Bank)


NOTES:
1. The checking accounts mentioned above are their basic or regular checking accounts.
Many of these rural banks also offer other types of checking accounts like corporate accounts, 2-in-1 accounts, or auto-transfer accounts.

2. As of September 4, 2015, the BSP directory of rural banks lists 500 rural banks and 29 cooperative banks.

Manage your Checking Account to Avoid Penalties

1.   Maintain the required maintaining balance.
2.   Fund your check before your check date.
3.   If your check date falls on a Saturday, Sunday or holiday, fund your check on the business day prior to that Saturday, Sunday or holiday.
4.   Write clearly and carefully. Banks no longer accept cheques with erasures, alterations and corrections even if signed by the issuer.

Related Posts:
Rural Banks Headquartered in Metro Manila
Top Rural Banks, 2013 
Top Rural Banks, 2015
Top Rural Banks Accredited by SSS for Collections and Payments

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