BDO Unibank and BDO Network Bank are both part of the BDO group in the Philippines, one of the largest and most trusted banking companies in the country. However, these two banks serve different purposes and target different types of customers. Understanding the difference between them is important if you want to know which bank better suits your financial needs.
In this blog, we will explore what is the difference between bdo unibank and bdo network bank, such as the services they provide, the types of customers they focus on, and where they operate.
What is BDO Unibank?
BDO Unibank, also known simply as “BDO,” is the largest bank in the Philippines. It provides a wide range of banking services for all kinds of customers, including individuals, businesses, and corporations. BDO Unibank offers basic services like savings and checking accounts, loans, and credit cards. It also provides investment products, insurance, and other advanced financial services.
BDO Unibank is a full-service bank, meaning it can handle almost any type of banking need. Whether you are opening a simple savings account, applying for a home loan, or managing investments, BDO Unibank has services for you. It also has many branches in the Philippines and even abroad, which makes it easy for people to access their services.
What is BDO Network Bank?
BDO Network Bank, on the other hand, is a smaller and more specialized bank. It was created to focus on serving the needs of smaller communities, especially those in rural areas. BDO Network Bank provides basic banking services, but its main focus is to help small businesses, farmers, and local communities by offering microfinance loans and other products.
BDO Network Bank has a simpler set of services compared to BDO Unibank. It focuses more on helping rural and underserved areas where big banks might not be available. By doing this, BDO Network Bank aims to help more people have access to banking services, even if they live in remote locations.
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What Is The Difference Between Bdo Unibank And Bdo Network Bank
Now that we know what each bank is, let’s look at some of the main differences between them.
- Size and Reach:
- BDO Unibank is the largest bank in the Philippines, with many branches across the country and even in other countries. It serves millions of customers and offers a wide range of services.
- BDO Network Bank is much smaller. It mainly serves rural areas and smaller communities. It doesn’t have as many branches as BDO Unibank, but it focuses on bringing banking to places where there might not be many options.
- Target Customers:
- BDO Unibank focuses on a wide range of customers, including individuals, businesses, and large corporations. Anyone who needs banking services can go to BDO Unibank.
- BDO Network Bank focuses on smaller customers, especially people in rural areas, small business owners, and farmers. It was designed to help people who might not have easy access to bigger banks.
- Services Offered:
- BDO Unibank offers a full set of banking services. These include savings accounts, checking accounts, credit cards, loans, insurance, investments, and more. BDO Unibank can meet almost any banking need.
- BDO Network Bank focuses on more basic services. It offers savings accounts and loans, but its main goal is to provide microfinance and small loans to help farmers, small businesses, and people in rural communities.
- Loan Options:
- BDO Unibank offers a variety of loans, including personal loans, home loans, car loans, and business loans. The loan amounts can be large, depending on the customer’s needs and financial status.
- BDO Network Bank focuses more on smaller loans, often called microfinance loans. These loans are for small business owners, farmers, and others who need smaller amounts of money to support their livelihoods. These loans help grow businesses and improve local economies.
- Branches and Locations:
- BDO Unibank has branches in major cities and even some international locations. It’s a big bank with a wide reach, so customers can find a branch almost anywhere.
- BDO Network Bank has fewer branches, and they are mostly located in rural or less developed areas. This allows the bank to serve communities that might not have access to bigger banks.
- Purpose:
- BDO Unibank is designed to be a full-service bank for everyone, from individuals to large companies. It focuses on providing a wide variety of services to meet many different needs.
- BDO Network Bank was created to bring banking services to underserved communities. Its purpose is to help small businesses and people in rural areas gain access to financial services.
Which Bank Should You Choose?
The right bank for you depends on your needs.
- If you live in a city, need a wide variety of services, or have more complex financial needs, BDO Unibank is likely the better option for you. It offers many services and has branches in many places, making it convenient for most people.
- If you live in a rural area, run a small business, or need help with smaller loans, BDO Network Bank could be the better choice. It focuses on helping people in underserved areas, and its microfinance services can be very useful for small businesses or farmers.
Both banks are part of the same BDO group, so you can trust that you will receive good service from either one. The main difference is that BDO Unibank is bigger and offers more services, while BDO Network Bank focuses on smaller communities and simpler banking needs.
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Conclusion:
In summary, BDO Unibank and BDO Network Bank both belong to the BDO group, but they serve different purposes. BDO Unibank is a full-service bank that offers a wide range of financial products and services to a diverse group of customers. BDO Network Bank, on the other hand, focuses on helping small businesses and rural communities with basic banking services and microfinance loans. The choice between the two depends on where you live and what kind of banking services you need.
