Written By Roi Plata on Monday, January 16, 2012 | 10:59 PM
I was watching Eat Bulaga yesterday when I got curious on the passbook their a given away in Sugod-Bahay Winners. Before they are not mentioning that it is from BPI and Globe, maybe they still some issues back then and I don't care about that. In Eat Bulaga it is also Known as Bossing's Savings given away with an Initial deposit to it from them. When I discovered this new Banko I really got interested with it.With Just P100 you can already open an account with ATM, it has no maintaining balance and you can deposit as low as P50. They have three products PuhunanKO (MicroLoans), PondoKO (MicroSavings), PaniguroK(MicroInsurance).

Here are more details about the new BPI Globe Banko.

About BPI Globe Savings Bank


BPI Globe BanKO Inc. (BanKO) is the first mobile-based, microfinance-focused savings bank in the Philippines. Established in July 2009 by BPI, Globe and Ayala Corporation, it aims to provide the low-income segment with secure and convenient access to affordable financial services by leveraging on its combined assets and infrastructure in banking and telecommunications.

BanKO is pioneering the delivery of financial services through a network of partner outlets equipped with information and communication technologies of BPI and Globe. This ‘branchless’ banking method of service delivery enables BanKO partner outlets to perform cash-in/cash-out transactions and conduct customer identification (KYC) for savings and loan applications. With the support of six (6) regional branches and field coordinators deployed nationwide, this approach to channel development will be critical to bringing financial services to remote locations and ensure permeating reach and accessibility across the country.

The bank also partners with microfinance institutions (MFIs), i.e. rural banks, NGOs and cooperatives, offering Wholesale Institutional Loans to fund MFIs’ on-lending to its client-base, and Capability-Building Developmental Loans in the form of technical assistance and financial training for the MFIs and their clients. Over the past two years, BanKO has extended Php1.8B in loans to microfinance institutions, reaching over 340,000 microenterprises.

BanKO's mission is to provide financial inclusion to the country’s unbanked and extend access to formal financial services. BanKO’s combined expertise in banking and telecommunications delivers a powerful microfinance platform for sustainable social development. The vision is for BanKO to become the premier microbank in the country and a global leader in providing innovative services to the microfinance sector using partnership models and the latest mobile technologies.

PRODUCTS
  • PondoKO (Microsavings)
PondoKO is a personal savings account with no maintaining balance required so accountholders can save as little or as much as they can. Customers can open a PondoKO account for only P100 (P50 for ATM and P50 as initial cash deposit).
Deposits reaching P2,000 average daily balance (ADB) earn 1% interest per annum plus free life insurance benefit five times the ADB (maximum of P200,000 coverage), or 3% interest per annum.
Depositors get an ATM card so they can access their accounts on any ATM nationwide. Each ATM withdrawal will be charged a P20 service fee.
PondoKO accounts are insured by PDIC up to P500,000 per depositor.
Customers can apply for a BanKO account and cash-in/cash-out at any BanKO partner outlet nationwide.

  • PuhunanKO (Microloans)
PuhunanKO is a small-scale loan offered by BanKO to its accountholders.
The maximum loanable amount is double the amount of the accountholder’s outstanding balance and ADB, from P5,000 up to P150,000, subject to credit/background investigation and approval.
To qualify for a loan, customer must have a PondoKO savings account for at least three (3) months.
Loans are payable in affordable, fixed weekly installments (from 1-12 months).
Loans are subject to a 3% monthly interest rate, 3% processing fee and compulsory life insurance premium (based on the loan amount) charged upfront and deducted from loan amount disbursed.
  • PaniguroKO (Microinsurance)
PaniguroKO offers insurance protection against damage to property and accidental death.
·        P5,000 assistance in case of fire and lightning (to home or place of business)
·        P2,500 assistance in case of flood, typhoon and earthquake (to home or place of business)
·        Accidental death benefit of P50,000 for beneficiaries of insured party
BanKO accountholders can subscribe to PaniguroKO coverage through their mobile phones.


LOANS
  • Institutional Microfinance Loans
BanKO offers wholesale loans to microfinance institutions (MFIs) such as thrift and rural banks, NGOs and cooperatives for their use in portfolio re-lending at competitive interest rates.
Loan tenor: 1-3 years
Security: Secured or Unsecured
Eligibility: MFIs with at least a 3-year track record on implementing microfinance programs; PESO rating of at least 3 

BPI Globe BanKO cooperates with local and international development oriented organizations, like the Grameen Foundation USA and Cordaid of Netherlands, in order to provide guarantees and technical assistance to MFIs.
  • Developmental Capacity-Building Loans
Developmental Capacity-Building Loans are loans extended to MFIs for the training of their Officers and Staff, expansion of branch networks & development of Management Information Systems or MIS, in partnership with the Ateneo Development Studies Program.
Should I recommend this?
YES!, absolutely!

Want to find BPI Globe BanKO branch near you? find it here
 BPI Globe Banko BRANCHES

Wanna know how to enjoy your Banko using your Mobile Phone?! Find it Here!
 BPI GLOBE Banko Mobile Features!

If you have questions Like and post on our Facebook Page: The DailyTrend. So I can Easily answer you back. Thanks!
 
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