If the bigger banks deny your application to open a checking account with them, try opening a checking account with 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.
1 1st Macro Bank Inc. (A Rural Bank)
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 Rural Bank Inc.
4 AMA Rural Bank of Mandaluyong Inc.
Initial Deposit: 5,000
Maintaining Balance: 5,000
Penalty for falling below maintaining balance: 200
5 ASPAC Rural Bank Inc.
6 AuroraBank (A Microfinance-Oriented Rural Bank) Inc.
7 Balanga Rural Bank Inc.
8 Banco De Mindoro Inc. (A Rural Bank)
9 Banco Dipolog Inc. A Rural Bank
10 Banco Laguna Inc. (A Rural Bank Since 1965)
11 Banco Maximo Inc. (A Rural Bank)
12 Bangko Kabayan (A Rural Bank)
Maintaining Balance: 5,000
13 Bangko Mabuhay (A Rural Bank) Inc.
Maintaining Balance: 5,000
Metro Manila clearing
14 Bank of Ormoc Inc. (A Rural Bank)
15 Bankways Inc. (A Rural Bank)
16 Batangas Rural Bank for Cooperative Inc.
17 Benguet Center Bank Inc. (A Rural Bank)
18 Binan Rural Bank Inc.
19 BOF Inc. (A Rural Bank)
Maintaining Balance: 5,000
Included in Metro Manila clearing
20 Butuan City Rural Bank Inc.
21 Cabanatuan City Rural Bank Inc.
22 Camalig Bank Inc. (A Rural Bank)
Maintaining Balance: 5,000
23 Cantilan Bank Inc. (A Rural Bank)
24 Card Bank Inc. (A Microfinance Rural Bank)
25 Cebuana Lhuillier Rural Bank Inc.
Initial Deposit: 5,000
Maintaining Balance: 2,000
No interest
26 Century Rural Bank Inc.
27 Classic Rural Bank Inc.
28 Community Rural Bank of Dapitan City Inc.
00 Country Builders Bank
Maintaining Balance: 5,000
Interest Rate: 0.1% per year
29 Countryside Cooperative Rural Bank of Batangas
30 CSFirst Bank Inc. (A Rural Bank)
31 Cuyapo Rural Bank Inc.
32 Diamond Rural Bank Inc.
33 Dumaguete Rural Bank Inc.
34 East Coast Rural Bank of Hagonoy Inc.
35 East West Rural Bank Inc.
Maintaining Balance: 4,000
No interest
36 Empire Rural Bank Inc.
37 Enterprise Capital Bank Inc. (Taguig Rural Bank)
38 Entrepreneur Rural Bank Inc.
39 Filidian Rural Bank of Antipolo Inc.
40 First Agro-Industrial Rural Bank Inc. (Fairbank)
Maintaining Balance: Low
Interest rate: 1% per year
41 First Community Bank Inc. (Rural Bank)
42 First United Farmers Rural Bank Inc.
43 Gateway Rural Bank Inc.
44 Guagua Rural Bank Inc.
Maintaining Balance: 5,000
For local entrepreneurs
45 Imus Rural Bank Inc.
46 Innovative Bank Inc. (A Rural Bank)
47 Insular Savers Bank Inc. (A Rural Bank)
48 Kaluyagan Rural Bank Inc.
49 Katipunan Bank (Zamboanga Del Norte) Inc. A Rural Bank
50 Koronadal Rural Bank Inc.
51 Laguna Prestige Banking Corp. (A Rural Bank)
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 Rural Bank Inc.
53 Lipa Bank Inc. (A Rural Bank)
54 Malarayat Rural Bank Inc.
55 Mallig Plains Rural Bank (Isabela)
56 Marayo Bank Inc. (A Rural Bank)
57 Masuwerte Rural Bank of Bacoor (Cavite) Inc.
58 Mount Makiling Rural Bank Inc.
59 MVSM Bank (A Rural Bank Since 1953)
60 New Rural Bank 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 Rural Bank of Naujan (Oriental Mindoro) Inc.
62 Own Bank The Rural Bank of Cavite City Inc.
63 Palm Tree Bank Inc. (A Rural Bank)
64 Panguil Bay Rural Bank of Ozamiz Inc.
65 Partner Rural Bank (Cotabato) Inc.
66 Penafrancia Rural Bank of Calabanga (Camarines Sur) Inc.
67 PlanBank Rural Bank of Canlubang Planters
Maintaining Balance: 4,000
To earn interest per quarter, maintain 20,000 for the whole quarter
68 Progressive Rural Bank Inc.
69 Quezon Capital Rural Bank Inc.
70 Rang-ay Rural Inc. (A Rural Bank)
71 Rural Bank of Abucay (Bataan) Inc.
72 Rural Bank of Agoo Inc.
73 Rural Bank of Alaminos (Pangasinan) Inc.
74 Rural Bank of Angeles Inc.
75 Rural Bank of Angono Inc.
76 Rural Bank of Antipolo Inc.
77 Rural Bank of Baco (Oriental Mindoro) Inc.
78 Rural Bank of Bacolod City Inc.
79 Rural Bank of Bacong (Negros Oriental) Inc.
80 Rural Bank of Baguio Inc.
81 Rural Bank of Bambang (Nueva Vizcaya) Inc.
82 Rural Bank of Bauang Inc.
83 Rural Bank of Bayombong Inc.
84 Rural Bank of Cabadbaran (Agusan) Inc.
85 Rural Bank of Cainta Inc.
86 Rural Bank of Calaca Inc.
87 Rural Bank of Caloocan Inc.
88 Rural Bank of Cardona (Rizal) Inc.
89 Rural Bank of Cauayan Inc.
90 Rural Bank of Central Pangasinan (Bayambang)
91 Rural Bank of Compostela (Davao del Norte) Inc.
92 Rural Bank of Digos Inc.
93 Rural Bank of Goa Inc.
94 Rural Bank of Iligan City Inc.
95 Rural Bank of Ilog (Negros Occidental) Inc.
96 Rural Bank of Iloilo City Inc.
97 Rural Bank of Infanta Inc.
98 Rural Bank of Jaen Inc.
99 Rural Bank of Jose Panganiban (Camarines Norte) Inc.
100 Rural Bank of Kawit Inc.
101 Rural Bank of Lemerey Inc.
102 Rural Bank of Liloy (Zamboanga Del Norte) Inc.
103 Rural Bank of Lipa City (Batangas) Inc.
104 Rural Bank of Lucban (Quezon) Inc.
105 Rural Bank of Mabitac (Laguna) Inc.
106 Rural Bank of Mangaldan Inc. (Bangko Rural)
107 Rural Bank of Maria Aurora (Aurora) Inc.
108 Rural Bank of Mati Inc.
109 Rural Bank of Midsayap Inc.
110 Rural Bank of Montalban Inc.
111 Rural Bank of Nagcarlan Inc.
112 Rural Bank of Naic Inc.
113 Rural Bank of Padre Garcia Inc.
114 Rural Bank of Paete Inc.
115 Rural Bank of Pagbilao Inc.
116 Rural Bank of Pandi (Bulacan) Inc.
117 Rural Bank of Pilar (Bataan) Inc.
118 Rural Bank of Plaridel (Bulacan) Inc.
119 Rural Bank of Polomolok (South Cotabato) Inc.
120 Rural Bank of Porac (Pampanga) Inc.
Maintaining Balance: 5,000
Interest rate: 0.25%
To earn interest, maintain 20,000
121 Rural Bank of Ragay (Camarines Sur) Inc.
122 Rural Bank of Rizal (Laguna) Inc.
123 Rural Bank of Rizal (Zamboanga Del Norte)
124 Rural Bank of Rosario (La Union) Inc.
125 Rural Bank of Sagay Inc.
126 Rural Bank of Salinas Inc.
127 Rural Bank of San Jose (Camarines Sur) Inc.
128 Rural Bank of San Juan (Southern Leyte) Inc.
129 Rural Bank of San Matero (Isabela)) Inc.
130 Rural Bank of San Pascual (Obando Bulacan) Inc.
131 Rural Bank of San Rafael (Bulacan) Inc.
132 Rural Bank of Sibulan Negros Oriental Inc.
133 Rural Bank of Solano (Nueva Vizcaya) Inc.
Regular checking account: No interest
134 Rural Bank of Sta Catalina Negros Oriental Inc.
135 Rural Bank of Sta Rosa (Laguna) Inc.
136 Rural Bank of Sto Domingo (Nueva Ecija) Inc.
137 Rural Bank of Talisay (Batangas) Inc.
138 Rural Bank of Tangub City (Misamis Occidental) Inc.
139 Rural Bank of Tanjay Inc.
140 San Bartolome Rural Bank Inc.
141 Saviour Rural Bank Inc.
142 SG Bank − A Rural Bank Inc.
143 South Bank (A Rural Bank) Inc.
144 Sta Maria Rural Bank Inc.
145 Sugbuanon Rural Bank Inc.
146 Summit Bank (Rural Bank of Tublay Inc.)
147 Summit Rural Bank OF Lipa City Inc.
148 Sunrise Rural Bank (Rosario Batangas) Inc.
149 Tamaraw Rural Bank Inc.
150 Tanay Rural Bank Inc.
Maintaining Balance: 4,000
151 Tiaong Rural Bank Inc. (TRBI)
Maintaining Balance: 2,000
Service charge for Below-Maintaining Balance: 300
152 Towncall Rural Bank Inc.
153 United People's Rural Bank Inc.
154 Vizcaya Bank A Rural Bank Inc.
155 Women's Rural Bank Inc.
156 Zambales Rural Bank Inc.
157 Zamboanga City Rural Bank 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 only 500 rural banks and 29 cooperative banks.