Pangarap Savings and Munting Pangarap Savings
A basic, interest-bearing account targeted towards the unbanked and underserved markets in the Philippines.
Initial Deposit: Minimum of P50.00
Minimum Maintaining Balance: None
Maximum Account Balance: P50,000.00
Interest Rate per Annum: 0.5%
Average Daily Balance to Earn Interest: P500.00
Eligibility Criteria:
Filipino Citizen
Opening an account within the residence
No existing bank accounts (Unserved/Unbanked) or with bank account but limited* (Underserved)
Is not a politically exposed person (PEP) or linked to a PEP
Unstable or low-income earners**, or MSME’s who are underserved
Is not licensed professional
Does not qualify to any high or normal risk criteria
*Payroll only
**Low income: Monthly household income of P15,780 per month
7 years old to 17 years old for Munting Pangarap
18 years old and above for Pangarap Savings
Requirements: 1 valid ID or Barangay Clearance