CTBC Bank Home Loan Terms & Conditions

The clauses below form part of a CTBC Bank (Philippines) Corp. home loan application. "Bank" refers to CTBC Bank (Philippines) Corp.; "I/We" refers to the borrower and any co-borrowers signing the application. Read these before you proceed — and remember that with Nook, a dedicated loan consultant walks you through every clause and handles the paperwork on your behalf, at no cost to you.

Consent, authorization and undertaking

I/We certify that all of the information provided in this form is true and correct. Should any information furnished herein be found to be false, the Bank may disapprove this application and/or declare the loan to be due and demandable (in case the loan has already been released).

Authority to verify information

I/We hereby authorize the Bank and/or its representative to access, verify or investigate any and all information furnished by me/us, including previous credit transactions with other institutions, my/our personal references, financial references and other sources. Entities and persons identified in this form are hereby authorized to provide the information and documents required in connection with this application. I/We waive any and all of my/our rights to confidentiality of information under any statutory and regulatory provisions relating to and arising from my/our loan application form and the loan itself.

Disclosure of information

I/We understand that the Bank is committed to continuously improve its products and services and pursue its business plans. To achieve these, and to be able to perform its legal and contractual obligations, the Bank may disclose and make available to its affiliates, counterparties, service providers and relevant third parties — wherever situated, and on a confidential basis — any information pertaining to my/our loan with the Bank. This includes information I/we have provided or may hereafter provide in connection with the loan application, and information the Bank may have gathered directly or indirectly through its own verification and validation, through the public domain, or through other methods and means (collectively, the "Information").

Waiver of bank secrecy and data privacy rights

Accordingly, I/we hereby waive my/our rights to secrecy and confidentiality of my/our bank deposits and investments with the Bank under RA 1405 (Bank Secrecy Law), RA 6426 (Foreign Currency Deposit Act), the General Banking Law of 2000, RA 7653 (The New Central Bank Act), RA 10173 (Data Privacy Act) and RA 9510 (Credit Information System Act), and such amendatory laws and other relevant laws, rules and regulations. I/We authorize and give consent to the Bank to make available for inspection or examination, to disclose and to report — to agencies including but not limited to the Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC) and Bureau of Internal Revenue (BIR), and other relevant regulatory and law-enforcement agencies — such information, instruments, records and documents arising from any and all of my/our transactions with the Bank. This waiver, authority and consent shall survive this loan application, transaction or agreement.

Release from liability

I/We remise and release the Bank from any liability or claim of whatever nature arising from the disclosure of the Information to the Bank's affiliates, counterparties, service providers and relevant third parties, or if disclosure of the Information is required under the law, by order of the court, or as requested by any regulatory agency.

Collection on default

I/We further agree that in the event my/our loan is approved, and in case of my/our failure to pay any amortization due to the Bank, the Bank may — at its sole and absolute discretion — endorse the collection of my/our loan to any of the Bank's collection agents or accredited collection agencies.

Verification of income and tax records

In accordance with BSP Circular No. 622, Series of 2008 and its amendments, I/we waive any and all of my/our rights to confidentiality of information relating to and arising from my/our Income Tax Return and Audited Financial Statements, and I/we authorize the Bank to conduct random verification with the Bureau of Internal Revenue in order to establish the authenticity of my/our Income Tax Return, Audited Financial Statements and accompanying financial statements submitted by me/us.

Collateral, appraisal and approval

I/We will ensure that the collateral is immediately available for inspection. I/We fully understand that the submission of this form and the required supporting documents does not constitute automatic approval of the loan. In case of disapproval, all documents shall remain confidential and become the property of the Bank. This also authorizes the Bank or its representative to conduct credit checking and investigation, property appraisal, and title verification of the property covered by the relevant TCT/CCT No.

Notifications by text and email

I/We agree and authorize the Bank to send to my/our mobile numbers and email addresses — as indicated in the application forms, bank records, and those disclosed to the Bank or any of its officers or service providers — text messages and email notifications involving: (i) the abovementioned credit facilities; (ii) the Bank's promos and services; (iii) market updates; and (iv) PSEI closing prices. I/We release, remise and forever discharge the Bank, its managers, agents and employees from any and all actions, suits, sums of money, claims, damage or liability and demands arising from the sending and receipt of these text messages and email notifications, and waive any and all rights and causes of action under RA 10173 (Data Privacy Act of 2012) and its amendments.

Account security and indemnity

I/We agree to be responsible at all times for the security of my/our account information, and I/we will immediately report and notify the Bank of any irregularities, unauthorized or disputed transactions in the account — upon receipt of the statement of account or upon knowledge of the incident — by visiting any CTBC Bank Business Center or contacting the 24/7 Customer Care Hotline at 840 1234 (Metro Manila); 1 800 10 840 1234 (toll-free from other provinces through PLDT); through customercare@ctbcbank.com.ph; or via the Bank's website. I/We agree to save the Bank free and harmless from, and to indemnify the Bank for, any liability or damages arising from such irregularity, unauthorized or disputed transactions — except those due to the Bank's fraud or gross negligence — but in no case shall the Bank be liable for indirect, consequential or punitive damages or business losses.

Disapproval and release of loan

In case of disapproval of my/our loan application, I/we understand that the Bank is not obliged to disclose the reasons for such disapproval. I/We understand as well that, should my/our application be approved, the loan release shall only be upon full compliance with all requirements of the Bank.

These terms are reproduced for reference and belong to CTBC Bank (Philippines) Corp. They may be updated by the bank from time to time; the version you sign at application is the version that applies. Nook is an independent mortgage broker — your Nook consultant prepares your CTBC application for you and explains each of these clauses before you sign. Compare CTBC against 20+ Philippine banks and see your options in 3 minutes.