Far Eastern International Bank Co., Ltd. (Far Eastern Bank) is a pioneer in Taiwan's financial market, with a "innovation-driven, customer-friendly" philosophy that has demonstrated excellence in retail banking, SME finance and digital services. Founded on January 11, 1992, it belongs to Far Eastern Group and is headquartered on the 26th-27th floor, No. 207, Section 2, Dunhua South Road, Daan District, Taipei, Taiwan. As a wholly-owned subsidiary of Far East International Financial Holdings Corporation (TWSE: 2845), Far Eastern Bank serves about 1 million customers and has become a benchmark for small and medium-sized banks in Taiwan with its local business model and innovation capabilities.
Bank Basic Information
Far Eastern Bank is a commercial bank, privately owned, established on January 11, 1992, headquartered in 26-27 Floor, No. 207, Section 2, Dunhua South Road, Daan District, Taipei, Taiwan. The bank was established in 1989 by Far Eastern Group in response to Taiwan's financial liberalization policy and officially opened in 1992. Founded in 2002, Far East Financial Holding Co., Ltd. integrates banking, securities and insurance businesses, with major shareholders including Far East Group, institutional investors and public shareholders, with Far East Financial Holding as the core of the holding structure. Far Eastern Bank is strictly supervised by the Financial Supervisory Commission (FSC) of Taiwan and is required to comply with the Banking Act and international financial standards to ensure operational transparency and the safety of customer funds. Its deposits are protected by Taiwan's deposit insurance system, with a maximum coverage of NT$3 million per depositor. The SWIFT code for the bank is FEINTWTP and the Legal Entity Identifier (LEI) is 5493003NOCSC6LUWUF03. Far Eastern Bank has about 60 branches in Taiwan and branches in Hong Kong, Chinese mainland (Shanghai, Guangzhou), Singapore and Vietnam, with a total of about 2,000 employees in 2024.
Deposit & Loan Products
Deposits
Far Eastern Bank offers a wide range of deposit products to meet the savings needs of individual and corporate customers:
Fixed deposits: 12 currencies such as NEW TAIWAN DOLLAR, USD and RMB are supported, with deposit terms ranging from 1 month to 5 years, and the minimum deposit amount is NT$5,000. In 2025, the fixed deposit interest rate will vary according to the maturity, such as about 1.225% for 1 month, 1.5% for 3 months, 1.8% for 6 months, 2.0% for 1 year, and 2.5% for 2 years (based on the average interest rate of the five major banks in Taiwan).
Featured products:
high-yield savings account: such as "Far Eastern Uni Savings Account", which provides an annualized interest rate of up to 1.5%, needs to maintain a balance of more than NT$100,000, and no monthly fee.
Large Certificates of Deposit (CD): Support flexible tenors, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
Customers can check the "Cloud Interest Rate" offer through the "Bankee" app or online banking, and the deposit products support instant opening and interest rate calculation, and some accounts provide free transaction fee discounts.
Current deposits: including checking accounts and savings accounts, such as "Far Eastern Current Account", with a minimum account opening amount of NT$1,000 and a base annualized rate of return (APY) of about 0.05%-0.3%, the latest interest rate needs to be confirmed through branch or online banking. Demand deposits are divided into interest-free accounts (minimum balance of NT$10,000, suitable for individuals and businesses) and interest-bearing accounts (minimum balance of NT$1,000, maintaining a daily balance of NT$5,000 or NT$10,000 to earn interest).
Loans
Far Eastern Bank offers a comprehensive range of loan products to meet diverse financing needs:
Mortgages: Fixed- and variable-rate mortgages with a loan amount of up to 80% of the value of the property and a repayment period of up to 30 years. In 2025, the fixed interest rate will be as low as 1.6% (3-year term), the floating interest rate will be based on the minimum lending rate (MLR, about 5.5%), and cash rebates and insurance discounts will be provided, and the application will require a credit score of 660 or more and an annual income of more than NT$30,000.
Car Loans: Support financing for new and used cars, with a loan amount of up to NT$3 million, a term of up to 72 months, an annualized interest rate (APR) as low as 1.88%, and a credit score of 660 or above.
Personal Line of Credit: Including Far Eastern Personal Loan (APR as low as NT$5.99% and maximum amount of NT$1.5 million) and asset-backed overdraft (up to 95% of collateral market value), the application threshold is a monthly salary of more than NT$30,000 and a good credit history.
Flexible repayment options: Mortgages and personal loans offer no penalty for early repayment, weekly or bi-weekly payment plans, and a revolving line of credit for flexible debt management.
All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. Banks' trade finance services, such as letters of credit and trade loans, provide additional support to cross-border businesses.
Digital service experience
Far Eastern Bank's mobile banking application "Bankee" is the core of its digital services, which can be downloaded on iOS 14.0 and above and Android 9.0 and above devices, with an App Store rating of about 4.5 and a Google Play rating of about 4.3, and users praise its quick launch (within 2 seconds) and intuitive interface (Bankee application). Core features include:
Face recognition: Supports biometric authentication (such as Face ID and Touch ID), combined with strong encryption technology to ensure transaction security.
Real-time transfer: Support real-time transfer of NTD through the Taiwan interbank transfer system, with a daily limit of up to NT$1 million, international remittance covering more than 100 countries, and cooperate with Western Union to provide low-rate transfers.
Bill management: Support online bill payment, automatic deduction and e-statement, and classify transaction records in real time.
Investment Tool Integration: Support stocks, funds, bonds and derivatives trading through the Far East Investment Platform, providing real-time market data and investment advisory services. The
online banking platform "Far Eastern Personal Internet Banking" supports a variety of browsers and provides similar functions, and customers can complete the account opening within 5 minutes through the application or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. In 2023, the number of Bankee app users will reach 500,000, accounting for 50% of the bank's customer base, significantly improving the digital experience.
Technological innovation
Far Eastern Bank excels in the fintech sector, driving technological advancements through its Digital Innovation Center:
Robo-advisory: Provide AI-based investment management services through the Far East Investment Platform, recommend diversified investment portfolios according to customer risk appetite, with a minimum investment of NT$1,000 and no subscription fees.
Open Banking API Support: Follows the Open Banking Framework of the Financial Supervisory Commission of Taiwan, integrates with third-party service providers, provides account management and financial services interoperability, and supports 35 deposit, credit card, and loan service APIs by 2024.
Other innovations: support for QR code payments, mobile check deposits, release of a virtual asset white paper in 2024, and explore blockchain and digital asset services; Partnering with AWS to optimize the cloud-based trading system. In 2024, the bank will invest NT$1 billion to upgrade its cloud technology and data analytics platform to improve operational efficiency.
AI customer service: Introduce an AI-driven customer service system to analyze transaction behavior, detect fraud risks in real time, automate 80% of customer inquiries by 2023, and plan to launch a virtual assistant in 2025 to support 24/7 inquiries and personalized financial advice.
Featured Services & Differentiation
Far Eastern Bank is known for its digital innovation and SME support:
Bankee Social Banking: In 2018, it launched Taiwan's first social bank, "Bankee", which integrates payment, savings and investment functions. Won the "Best Innovative Digital Bank" award from Global Economy to attract young customers and SMEs.
SME support: Provide customized loans and cash management services through the Far East SME Service, participate in the SME Financing Guarantee Program of the Taiwan Financial Supervisory Commission, with loan approval in as fast as 10 seconds, up to NT$3 million, and SME loan balance increased by 12% in 2023.
Cross-border finance: With branches in Hong Kong, Chinese mainland (Shanghai, Guangzhou), Singapore and Vietnam, it supports cross-border trade and investment of Taiwanese businessmen, with cross-border transactions reaching NT$5 billion in 2023.
Green Finance: Launched green bonds and preferential interest rate loans, adopted environmentally friendly uniforms (100% environmentally friendly materials) in 2023, and responded to the United Nations Principles for Responsible Banking, and won the "Taiwan Green Finance Pioneer Award".
Community Contribution: Through the Far Eastern Bank Foundation, we will support education and charity projects, donate NT$3 million for community development in 2023, and release an annual cultural calendar to showcase Taiwan's cultural characteristics.
Market Position & Honors
Far Eastern Bank is one of Taiwan's small and medium-sized commercial banks, with total assets of about NT$400 billion in 2024, ranking in the middle of the 38 banks in Taiwan. With about 60 branches serving about 1 million customers, the bank has a strong position in SME finance and digital services. In 2023, banks reported an 8% increase in deposit balances, a 6% increase in loan balances, and a non-performing loan ratio remaining below 0.2%, indicating sound operation. The launch of Bankee Social Banking has significantly increased the market share of the younger customer group, which accounted for 30% of new accounts opened in 2023. Key accolades include:
Global Economy 2023 "Best Innovative Digital Bank" award.
2022 Taiwan Green Finance Pioneer Award.
2021 "Best SME Financial Services Award in Taiwan".
Far Eastern Bank's digital innovation and community focus have made it one of the leaders in Taiwan's financial markets.
Conclusion
With a history of more than 30 years, localized services and innovative financial products in Taiwan, Far East International Commercial Bank Co., Ltd. has become a pioneer in Taiwan's financial market. It offers a wide range of deposit and loan products to meet customer needs through local branches and Bankee applications. Digital services are widely praised for their efficient real-time transfer and investment management capabilities. Technological innovations include AI customer service, robo-advisors, open banking APIs, and virtual asset services, demonstrating its forward-looking digital transformation. With its Bankee social banking, SME support, green finance commitment and multiple industry accolades, Far Eastern Bank continues to demonstrate strong competitiveness and influence in the financial markets of Taiwan and the region.
Note:
specific interest rates and product details may vary due to market changes, please contact the official website of Far Eastern Bank or consult the bank directly for the latest information.
