Basic Deposit Account (BDA)

Pangarap Savings and Munting Pangarap Savings

A basic, interest-bearing account targeted towards the unbanked and underserved markets in the Philippines.

0.5% per annum

Eligibility Criteria:

1. A Filipino citizen deemed unserved or underserved by a formal financial institution.
2. A resident or student of the community where the branch operates.
3. Age:
    a. Pangarap BDA - 18 years old and above
    b. Munting Pangarap BDA - 17 years old and below

Requirements: 1 valid ID or Barangay Clearance

Acceptable Valid ID’s
a) PhilID or ePhilID from the PhilSys
b) Other identification documents with picture issued by the Government of the Republic of the Philippines
1. Passport
10. OFW e-Card
2. Driver’s License
11. Alien Certificate of Registration (ACR)
3. PRC ID
12. Seaman’s Book
4. NBI Clearance
13. GOCC ID i.e. AFP ID, HDMF ID
5. Police Clearance
14. PWD ID issued by the National Council on Disability Affairs
6. Voter’s ID
15. Integrated Bar of the Philippines (IBP) ID
7. Postal ID
16. PhilHealth ID
8. Senior Citizen Card17. Unified Muti-Purpose ID (UMID)
9. OWWA ID
c) Other identification documents that can be verified using reliable, independent source documents, data or information.

 

Fees and Charges

Pangarap SavingsMunting Pangarap Savings
Initial DepositP 50.00P 50.00
Maintaining BalanceNoneNone
Maximum Account BalanceP45,000.00P45,000.00
the bank shall convert the basic deposit account to a regular deposit account.the bank shall convert the basic deposit account to a regular deposit account.
Interest Rate per Annum0.5% per annum, subject to change anytime considering factors like the cost of maintaining the deposit account.0.5% per annum, subject to change anytime considering factors like the cost of maintaining the deposit account.
Average Daily Balance to Earn InterestP500.00P500.00
Interest CreditingMonthlyMonthly
Dormancy ChargesP0.00P0.00
Closure of account (voluntary closure or closing of account within 180 days from Account Opening)NoneNone