SAVINGS ACCOUNT

RCBC vs METROBANK vs PSBANK

 BACK
GROUND

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 RCBC
Founded in 1960, RCBC began its operations as a
development bank, until it was licensed by the
Banko Sentral of the Philippines for commercial
and investment banking.

Ever since then, RCBC has become one of the

most stable and continuously growing financial
institutions in the country. It also manages
numerous remittance offices in over 24 countries
to cater to overseas Filipino workers and
businesses.

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 METROBANK
Founded in 1962. Another contender amongst the country’s
universal banks, Metrobank offers an assortment of financial
services for the Filipino consumer with its network of branches
and ATMs across major Philippine cities and branches around
Taipei and Europe.

It was awarded as the “Strongest Bank in the Philippines and first

Philippine bank recognized for two years in a row by The Asian
Banker 500” and “Best Automobile Lending Award by The Asian
Banker Philippine Country Awards” in year 2016.

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 PSBANK
PSBank has gone a long way from its humble beginnings as a
neighborhood bank since it first opened its doors to its clients on
September 26, 1960. Its head office was located at Plaza Miranda,
Quiapo, Manila, then the heart of the country’S commercial and
business district, while its first four branches were in Divisoria,
Carriedo, Blumentritt and C. M. Recto.

In 1991, the Monetary Board of the Bangko Sentral ng Pilipinas

authorized the Bank to perform trust banking functions. Four years
later, PSBank was granted a quasi-banking license, previously granted
only to commercial banks and investment houses.

On the same year, PSBank became the first publicly-listed savings

bank in the country. Its first offering of 25% stock rights to the public
raised PhP602.4 million while its second offering the following year
yielded PhP526 million. This accounted for 63% growth in its capital
funds.

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 SAVINGS
ACCOUNT

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 Metro Bank RCBC PSBank

Initial Deposit: Initial Deposit: Initial Deposit:

Php 50,000 Php 50,000 Php 50,000

SAVINGS
Maintaining
Balance:
Maintaining
Balance:
Maintaining
Balance: ACCOUNT
Php 50,000 Php 50,000 Php 50,000

Interest Earning Interest Earning Interest Earning

Balance: Balance: Balance:
Php 50,000 Php 50,000 Php 50,000

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 COMPUTATION

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 SIMPLE INTEREST
RCBC Metrobank PSBank

P=50,000 P=50,000 P=50,000

r=2.375% (0.02735) r=1.75% (0.0175) r=3% (0.03)

t= 15 years t=15 years t=15 years

I=PRT I=PRT I=PRT

=50,000x0.02735x15 = 50,000x0.0175x15 = 50,000x0.03x15

I= Php 17,812.5 I=Php 13, 125 I=Php 22, 500

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 COMPUND INTEREST
RCBC Metrobank PSBank

P=50,000 =50,000ሺ1 + P=50,000 =50,000ሺ1 + P=50,000 =50,000ሺ1 +

Ic=? F= Php Ic=? F= Php 64, Ic=? F= Php 77,

71,101.49 861.39 898.37
r=2.375% Ic= F-P r=1.75% Ic= F-P r=3% (0.03) Ic= F-P
(0.02375) (0.0175)
t=15 years =71, 101.49- t=15 years =71, 101.49- t=15 years =71, 101.49-
50,000 50,000 50,000
F=? Ic= Php 21, F=? Ic= Php 14, F=? Ic= Php 27,
101.49 861.39 898. 37
𝑡 𝑡 𝑡
F= 𝑃 1 + 𝑟 F= 𝑃 1 + 𝑟 F= 𝑃 1 + 𝑟

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 MATURITY VALUE
RCBC Metrobank PSBank

P=50,000 P=50,000 P=50,000

I=17,812.5 I=13, 125 I= 22,500

F= P+I F= P+I F= P+I

=50,000+17,812.5 = 50,000+13,125 = 50,000+22,500

F= Php 67,812.5 F= Php 63,125 F= Php 72,500

P=50,000 P=50,000 P=50,000

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 CONCLUSIONS &
RECOMMENDATIONS

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 PSBANK?
Bank Simple Simple Compound Compoun
Psbank is, indeed, the most Interest Maturity Interest d Maturity
Value Value
ideal out of all three banks. Psbank
RCBC Php 17, Php 67, Php 21, Php 71,
is trustworthy, having been here 812.50 812.50 101.49 101.49

since September 20, 1960 and

Metrobank Php 13, 125 Php 63, 125 Php Php
tasked to perform trust banking 14,861.39 64,861.39
PSBank Php 22, 500 Php 72,500 Php 27, Php 77,
functions in the year 1991, by the 898.37 898.37

Monetary Board of the Banko

Sentral ng Pilipinas.

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