Frequently Asked Question

Frequently Asked Question

What is the bank operating hours? 

All Zambank branches are open from Monday to Friday, 9:00 am to 3:00 pm except non-working holidays. Shortened banking hours may be implemented on special occasions and will be announced on our social media accounts and the conspicuous places of the branches.



How do I open a Deposit Account?

Bring all requirements of the desired deposit account to the nearest Zambank branch and an Officer-of-the-Day will immediately assist you. It only takes 15 to 20 minutes to open a deposit account.

The following are the deposit products of the Zambank which it offers to its customers and corresponding policies:


SAVINGS Account – This refers to a regular savings deposit offered to clients.  It is evidenced by a passbook. It bears an interest rate of 0.25% per annum compounded daily. The minimum and opening balance is ₱100.00. However, the maintaining balance to earn an interest is ₱500.00.

TIME Deposit – This refers to a deposit account, which requires the issuance of certificate, with a fixed term and interest rate over the period it is placed. Minimum maintaining balance and interest rate are set by the Board of Directors from time-to-time.

CURRENT Account – It refers to a deposit account which allows the holder of the account the ability to write checks against their deposits. The Checking Account of Zambank bears no interest on deposits. Minimum opening and maintaining balance is Two Thousand Pesos (₱2,000.00).


Can I have Savings account and Current Account?

Yes! You can have both at the same time.


What are the acceptable valid Identification Document (ID)?

 

What is the cut-off time for check deposit clearing?

10:30 am. One (1) day clearing.


What is a Dormant Account? 

A Dormant Account is an account with no client-initiated transaction activity for two (2) years. This will incur dormancy charges until the account balance is zero (0) and will be closed automatically.


I lost my passbook, what should I do? 

Immediately inform the servicing branch of your account and secure an Affidavit of Loss. A One Hundred Pesos (₱100.00) replacement fee of the passbook.


How to apply for a loan?

Bring all requirements of the desired loan type to the nearest Zambank branch and ask the loan processor officer for assistance. Upon completion of the documentary requirements, a loan will be release less than a month.

The following are the types of loans being offered by Zambank to eligible borrowers:

AGRARIAN REFORM/AGRICULTURAL LOANS

Secured loans extended to purely rice land farmers for the purchase of agricultural supplies and materials. Eligible borrowers are the Agrarian Reform beneficiaries, farm organizations or cooperatives.

OTHER AGRICULTURAL LOANS

Loans extended to farmers and other agriculture-related businesses or activities. Specific borrowers include farmers, fishermen, poultry, cattle and goat breeders and livestock breeders.

COMMERCIAL LOANS

Loans extended to borrowers engaged in running their existing business as well as those seeking to venture in new or additional lines of business.

HOUSING LOANS

Loan extended to borrowers in which the specified purpose is any of the following; major repair, improvement, construction, renovation or expansion of house.

MARKET VENDOR LOANS

Unsecured loans extended to eligible borrowers (e.g. Stall holders, fish and vegetable dealers, grain retailers located inside the public markets) to support micro, small and medium enterprise within the countryside.