Taichung Commercial Bank Co., Ltd. (Taichung Bank) is a pioneer in the financial market in Central Taiwan, with a philosophy of "Rooted in the Local, Serving the Public", with outstanding performance in the fields of retail banking, corporate finance and local economic development. Founded in April 1953, it was initially established as the Taichung District United Savings Company, transformed into the Taichung Small and Medium-sized Enterprise Bank in 1978, and officially changed its name to Taichung Commercial Bank on December 9, 1998, headquartered at No. 87, Minquan Road, West District, Taichung City, Taiwan. As a listed company on the Taiwan Stock Exchange (stock code: 2812), Taichung Bank serves more than 1 million customers and has become the financial backbone of Central Taiwan with its solid financial performance and innovation capabilities.
Basic Bank Information
Taichung Bank is a commercial bank, publicly owned, established in April 1953, headquartered at No. 87, Minquan Road, West District, Taichung City, Taiwan. Co-founded by local entrepreneurs and the Kaohsiung City Government, the bank was publicly listed on May 15, 1984, and established a Taipei branch in September 1995 to break regional restrictions and change its name to "Taichung Bank" (simplified Chinese) in 2007 to strengthen its brand image. Major shareholders include the Kaohsiung City Government, institutional investors and public shareholders, and the holding structure is dominated by local governments. Taichung Bank is strictly regulated by Taiwan's Financial Supervisory Commission (FSC) 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 TCBBTWTH and the Legal Entity Identifier (LEI) is 5493003NOCSC6LUWUF03. Taichung Bank has 84 branches in Taiwan (including 1 offshore banking unit) and branches in the United States, Hong Kong and Southeast Asia, with approximately 2,000 employees worldwide.
Deposit & Loan Products
deposits Taichung Bank offers a variety 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 "Taichung Premium Savings Account", which offers an annualized interest rate of up to 1.5%, requires maintaining a balance of more than NT$100,000, and no monthly fee.
Large Certificates of Deposit (CD): Support flexible tenor, 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 "Taichung Bank e-Banking" app or online banking, and the deposit products support instant opening and interest rate calculation, and some accounts offer free transaction fee discounts.
Demand Deposits: Including checking accounts and savings accounts, such as "Taichung Savings Account", the minimum account opening amount is NT$1,000, and the base annualized rate of return (APY) is about 0.05%-0.3%, and 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
Taichung 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 Taichung Personal Loan (APR as low as 5.99%, amount up to 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 SMEs.
Digital service experience
Taichung Bank's mobile banking app "Taichung Bank e-Bank" is the core of its digital services, which is available for download 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 it for its quick launch (in less than 2 seconds) and intuitive interface. Core features include:
real-time transfers: support real-time transfers in NTD through the Taiwan interbank transfer system, with a daily limit of up to NT$1 million, international remittances covering more than 100 countries, and low-rate transfers in cooperation with Western Union.
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 Taichung Investment Platform, providing real-time market data and investment advisory services.
The online banking platform "Taichung Personal Internet Banking" supports a variety of browsers and provides similar functions, and customers can complete the account opening within 5 minutes through the app or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. Some users reported occasional technical issues, but the bank continued to optimize the user experience.
Technological innovation
Taichung Bank is actively exploring in the field of financial technology, relying on its information technology department to promote digital transformation:
AI customer service: Introduce an AI-driven customer service system to analyze transaction behavior and detect fraud risks in real time , with plans to launch a virtual assistant in 2025 that will support 24/7 inquiries and personalized financial advice.
Open Banking API Support: Follows the Open Banking Framework of the Financial Supervisory Commission of Taiwan and integrates with third-party service providers to provide account management and financial services interoperability, especially in the areas of trade finance and cross-border payments. In 2024, banks will participate in the third phase of open banking, supporting 35 deposit, credit card, and loan-related services.
Other innovations: support for QR code payments, mobile check deposits, partnering with Akamai to protect DNS infrastructure from DDoS attacks, and ensuring online service stability. In 2024, the bank will invest NT$1 billion to upgrade its cloud technology and data analytics platform to improve operational efficiency.
Featured Services & Differentiation
Taichung Bank is known for its localized services and regional reach:
SME support: Provide customized loans and cash management services through Taichung SME Services, participate in the SME Financing Guarantee Program of the Taiwan Financial Supervisory Commission, with loan approval in as fast as 10 seconds and up to NT$3 million, focusing on supporting SMEs in Taichung, Changhua and Nantou areas.
Local Economic Development: As the local financial pillar of Taichung City, the bank supports municipal construction and local industries, such as agriculture and manufacturing, by providing special loans and financial advice.
Green Finance: Launched green bonds and preferential interest rate loans to support environmental protection projects, and responded to the United Nations Principles for Responsible Banking, and won the "Taiwan Green Finance Pioneer Award" in 2023.
Community Contribution: Through the Taichung Bank Foundation, we will support education and charity projects, donate NT$3 million for community development in 2023, hold financial literacy lectures, and improve the financial management ability of young people.
International presence: With branches in the United States (through American Continental Bank, which it plans to acquire in 2022), Hong Kong and Southeast Asia, it supports cross-border trade and investment.
Market Position & Accolades
Bank of Taichung is one of the leading commercial banks in central Taiwan, with total assets of approximately NT$600 billion in 2024, ranking among the top 38 regional banks in Taiwan. With 84 branches serving more than 1 million customers, the bank is a market leader in the SME and retail banking segments. In 2023, banks reported a 10% increase in deposit balances and an 8% increase in loan balances, demonstrating their solid development. Its international presence covers North America and Asia, and it will rank high on the Forbes Global 2000 list in 2023. Key accolades include:
- ranked
11th in Newsweek's "World's Most Trusted Banks" in 2024.
2023 "Best Community Bank in Taiwan" Award.
2022 Greenwich Associates SME Customer Experience Award.
2023 "Taiwan Green Finance Pioneer Award".
Taichung Bank's solid financial performance and innovation capabilities have made it a leader in the financial markets of Central Taiwan and the region.
Conclusion
Taichung Commercial Bank Co., Ltd. has become a pioneer in the financial market in central Taiwan with its deep local roots, international business layout and innovative financial services. It offers a wide range of deposit and loan products, including high-yield savings accounts, term deposits, and flexible mortgages and personal loans, to meet the diverse needs of its customers. In terms of digital services, the "Taichung Bank e-Bank" application has been widely praised for its efficient real-time transfer and investment management functions. Technological innovations, including AI customer service, open banking APIs, and mobile payment platforms, demonstrate its forward-looking digital transformation. With its SME support, local economic development, commitment to green finance, and multiple industry accolades in 2024, Taichung Bank continues to demonstrate strong competitiveness and influence in the financial markets of Central Taiwan and the region.
Note:
specific interest rates and product details may vary due to market changes, please contact the official website of Taichung Bank or contact the bank directly for the latest information.
