Is a regular passbook-evidenced and interest-bearing deposit product that is a component of the bank’s loan products. All clients who avail of the Bank’s loan products are required to save an amount equivalent to at least 10% of the loan amount for microenterprise loan, and as agreed with the client, for regular loan. The contractual savings is deposited throughout the term of the loan. Interest-bearing Interest Rate shall be based on prevailing market rate as jointly
Interest per Annum
1.0% per annum, compounded quarterly.
| Criteria |
|---|
| a. Customers who are willing to provide all necessary information and documents. |
| b. He/she must have passed the eligibility criteria of the Bank’s Loan products. |
| 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 Card | 17. Unified Muti-Purpose ID (UMID) |
| 9. OWWA ID | |
| c) Other identification documents that can be verified using reliable, independent source documents, data or information. |
|
IDs should be:
- ✓ Clear
- ✓ Un-expired (for IDs with expiration date)
- ✓ Bears photograph and with signature of the individual-owner
- ✓ Signed by an official authority and whose authenticity may be verified with said agencies/instrumentalities
- ✓ Free from alterations
- ✓ Preferably bears the security features or seal (if applicable) provided by the issuing agencies/instrumentalities that will prevent tampering of the ID.
Initial Deposit and Maintaining Balances
| Required Initial Deposit | P 100.00 |
| Minimum Average Daily Balance to Earn Interest | P 1,000.00 |
Fees and Charges
| Closure of account within 180 days from opening | P 100.00 |
| Passbook replacement (for lost passbooks only) | P 100.00 |
| Bank Certification | P 100.00 |
| Printed Statement of Account, per page | P 10.00 |
