Tuesday, June 26, 2007

Mixed reactions on Banco Paranaque

The Rural Bank of Paranaque is gaining more popularity as it finds itself stuck into swindling controversies linked with its affiliate Legacy Plans.

Well the bank gives high interest rates, very high. Yeah, it's an indication that they are shaky. But they also lend out the money at an even higher rate, around 36% for their microfinancing. That means, they are earning enough to sustain their operations and pay interest to their depositors. That is, if there are borrowers.

So, should you invest in Banco Paranaque, or not? If you have an extra amount of money, then why not? It is a rural bank; your deposit is insured up to a maximum of P250,000.

Will it close down? Well, only time will tell. But if you are really interested in getting interest rates as high as 10% for the short term, and advanced interest of 20% for the long term, and even a free cellphone... then ask yourself if you are willing to spend a day going to PDIC to get your insured deposit. It would just be a day. Or even an hour.

If you think you can, then go for Banco Paranaque. Just make sure to transact inside the bank premises, with authorized bank personel.

More comments and reactions on Rural Bank of Paranaque can be found on the several pages in this link...


Ary said...

Nice offer but too good to be true!Id rather save at BPI..nyahahaha

THErapist said...

13 is not a good number..... It can be a hoax..... But the PDIC guarantee is hard to pass..... But still I will not deposit..... Maliit lng kc suweldo ko..... Ala akong 100,000 na minimum requirement ng bank.... Umansenso na pla ung blog ni bubwit.... May mga pictures na sa header.... Hehe

Man E. Yak said...

Wow! Im very much interested. Yun lang nga I checked their branches and they are in Ortigas and paranaque. Not accessible from makati or QC.

Dexter said...

the bank is now giving 12% per annum on a 90-day term, for a minimum of P50k!

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