Residents of Sta. Rosa, Laguna, particularly Nuvali, are set to get financial reward, as the Rural Bank of Sta. Rosa (Laguna) Inc. is rolling out a competitive interest rate program on time deposits, making it an ideal time to grow depositors’ savings.

The Rural Bank of Sta. Rosa (Laguna) is offering an enticing 8.88 percent interest rate per year for time deposits of over P500,000 which is especially beneficial for the residents of Nuvali in Sta. Rosa, Laguna, and nearby areas.

Salmon Co-Founder and Rural Bank of Sta. Rosa chairperson Raffy Montemayor said its stellar 8.88 percent time deposit interest rate offer comes with no hidden fees or expiration.

"Our 8.88 percent time deposit interest rate, available for a 12-month term, is one of the best ways to grow your money. By simply depositing more than P500,000, our customers can benefit from significant returns without any hidden fees or complex requirements, ensuring a straightforward and rewarding banking experience," Montemayor said

Last month, the Bank announced that its total deposits soared by 439 percent from P82 million to P440 million and its bank loans increased by 648 percent from P54 million to P400 million as of end of May 2024.

“We are making Rural Bank of Sta. Rosa a robust financial institution by infusing more capital in the bank through its parent company, which has attracted notable global investors such as the International Finance Corporation (IFC), Singapore-based private equity fund Northstar Group and Abu Dhabi’s sovereign wealth fund (ADQ),” Montemayor revealed.

Salmon Group Ltd., founded in 2022 by fintech and banking veterans Pavel Fedorov, George Chesakov and Raffy Montemayor, owns and operates its subsidiaries in the Philippines, including Sunprime Finance Inc. and the Rural Bank of Sta. Rosa (Laguna), Inc., which was established in 1963.

The group is dedicated to expanding financial inclusion by providing customers with cutting-edge, customer-centric, AI, and data-driven banking and financial services.

It is on a mission to empower clients underserved by legacy banks across Southeast Asia and is supported by world-class shareholders including International Finance Corporation, the sovereign wealth fund of Abu Dhabi (ADQ), Northstar Group, and other blue-chip international and Filipino investors.