Wednesday, April 30, 2008 Chinatrust launches 2 new products By Carlo P. Mallo
CHINATRUST Commercial Banking Corp. launched two of its newest products Friday at the Grand Men Seng Hotel.
One of the newest products being offered by Chinatrust is their cash management scheme wherein they enable their clients to transact and pay their bills online in real time.
"No more queues are needed, and they can pay anytime," Michelle Sy, representative of the Cash Management of Chinatrust, said in an interview with Sun.Star Davao.
Two of the online payments that the clients of Chinatrust can make online are their taxes and their Social Security remittances.
Also, Chinatrust is offering rebates for their clients who will pay their SSS and taxes online. A one percent rebate is given for every P500,000 worth of SSS remittances, while a one percent rebate is also given for every P1 million worth of taxes paid online.
Apart from the online schemes, Sy said they are also offering cash cards, which are actually debit cards.
Another product that was launched by Chinatrust was its cashback mortgage scheme with interest rates going as low as 3.5 percent. The present market interest rates are pegged at eight to nine percent.
Francis Wong, account officer of Chinatrust, said that when their clients avail of loans, they also take into consideration the accounts of the clients in their computation for their loan interest rates.
"The interest rate is based on the net loan of the client, that is the actual loan minus the deposit with our bank," Wong said.
Wong added that the client does not even have to apply for the loan, as it is automatically implemented. "From the time of the application, we check if you have any accounts with us and we can apply the cashback mortgage," Wong said.
But Wong clarified that even if the account of the client with Chinatrust is taken into consideration, it does not mean that the account is also frozen or placed in a hold out. "They can still access their accounts or withdraw, there is no hold out," Wong said.
