Philippine Banks in' Forbes World's Best Banks List

In 2023, competitive interest rates won't be enough for banks to win over businesses and individual clients.

When it comes to banking, it's all about providing excellent customer service, whether that means providing the greatest possible interest rate on deposits or the lowest possible interest rate on loans and making those options available digitally, while still maintaining a physical location should you ever need to walk in and fix an issue.

For this reason, it's possible that not all of the largest banks in a given market's top performers are on Forbes' fifth annual list of the world's best banks. Despite current wariness about financial institutions, they have been able to increase consumer loyalty by providing a little bit more to their clientele.

About Forbes World's Best Banks 2023

World's Best Banks 2023 was compiled in collaboration with its market research partner Statista using data from an online worldwide survey of more than 48,000 individuals across 32 countries on their experiences with their respective banks in terms of general satisfaction, trust (most important factor according to Forbes), digital offerings, customer service, interest rates worldwide, and more.

The outcome of this online poll gets the result name of 415 banks, or 4% of the total number of banks in existence, who met the criteria set by IBISWorld.

Best Philippine Banks to Get Your Lumina Homes Loan

Starting an investment by getting a house and lot in the Philippines is now achievable through a bank home loan that most trusted developers in the country offer.

Lumina Homes, being the leading affordable house and lot provider in the Philippines, offer this type of flexible payment scheme to ease the burden of every Filipino in their homebuying journey.

Browse this article for a quick guide on where to begin investing in real estate if you are searching for reliable financing institutions in the Philippine islands that are included in Forbes list of top banks in 2023 to get your Lumina Home loan.

Ranked 2nd. PNB

The first universal bank in the country, Philippine National Bank (PNB), is the country's fourth biggest privately held commercial bank. PNB was founded in 1916 by the Philippine government and privatized in 2007. PNB has been at the forefront of the agricultural modernization program and trades financing assistance for the country's agricultural exports, both of which have served as powerful tools in the country's economic growth. It also introduced many firsts in the banking industry. Among domestic financial institutions, PNB's network of branches is the biggest and includes the most international outposts.

Minimum Loan Amount: Php 500, 000 outside Metro Manila

Maximum Loan Amount: Up to 80% of the property's assessed value for the house and lot.

Ranked 3rd. BPI

Bank of the Philippine Islands is a pioneering Southeast Asian financial institution, and as such, it has built a reputation for stability, reliability, and originality among its clientele. Since 1851, their company's goods and services have been an integral part of every Filipino's life and the rapidly developing economy of the Philippines.

Key features: Easy application, reliable, and affordable with a 10% down payment option and flexible payment terms of up to 20 years.

Ranked 4th. Union Bank

UnionBank always stayed ahead of the curve when it came to using new technologies to provide its clients. As a result, it has been routinely ranked as one of the best businesses in Asia and is seen as one of the most successful universal banks in the region. Moreover, UB also recognizes the need of adapting to the changing financial landscape through its digital services and fast pre-approved home loan process in order to meet the requirements of the expanding Filipino population.

Key features: UB offers a simple online application, fast approval times, and VIP customer service to its clients.

Ranked 4th. BDO

In the Philippines, BDO is the universal bank that meets all of your banking needs. They have one of the best products and services in the business. The key to the bank's successful commercial relationships with clients lies in its institutional strengths and value-added goods and services. Its branches also consistently demonstrate a commitment to excellence in customer service and sales.

Enjoy these offers when you apply now online until May 31, 2023:

• Waived fees of up to Php 25, 000

• Low-interest rates

• Extended loan term (for OFWs only)

Key features: Flexible loan terms up to 80% of the appraised property value and 20 years maximum terms. BDO also offers affordable cash-out and light payment options.

Ranked 6th. Landbank

The Land Bank of the Philippines, a state-run financial organization, successfully juggles its humanitarian mission of encouraging rural development with the need to be in business.

Landbank's Easy Home Loan

You may get a loan to purchase or build a home with ease. Homeowners may also use it to refinance loans they already have with other lenders, such as finance companies or in-house financing from developers.

You can get a minimum loan of Php 500, 000.00 with a 20-year maximum term, as long as the combined borrower's age and term loan will not exceed 65 years.

Ranked 8th. RCBC

The Yuchengco Group of Companies (YGC) is the primary owner of the Rizal Commercial Banking Corporation, making it a part of one of the oldest and biggest conglomerates in Southeast Asia. In terms of assets, it is one of the biggest private banks in the nation. RCBC was founded in 1960 and has since been a leader in the banking business by consistently offering excellent service and a comprehensive suite of financial products and services.

Key features: For a regular home loan, RCBC offers a minimum amount of Php 1 million with 20% downpayment. This is good for up to 20 years of fixing option and loan period.

In 2023, banks will need more than low-interest rates to attract corporate and individual customers. Additionally, they need to provide fast, multi-channel service through both online and in-branch methods, and leverage this service to gain customers' confidence.

Lumina Homes, as one of the most trusted developers of affordable house and lot for sale, always think ahead in providing the best homebuying and homeownership experience to every Filipino.

With this, Lumina Homes partnered with these banks globally known now as Forbes World's Best Banks 2023. These banks not only have the same innovative approach that Lumina Homes deliver to their customer services but also keep on bringing new digital services into our modern world.

Make your homebuying journey smooth and less of a burden with Lumina Homes bank financing and its partnered world-class banks!