Regular Time Deposit

Regular Time Deposit is an interest bearing deposit, with specific maturity date, evidenced by a certificate (CTD) signed by two (2) authorized signatories of the Bank.

FEATURES:

Individual Corporation
Minimum Amount 5,000.00 5,000.00
Minimum Term 30 days 30 days
Interest Rate Based on negotiated rate at the time of placement
Manner of Interest Payment At maturity, based on negotiated term at the time of placement interest payment via credit to clients account or via Managers Check.
Withdrawal Surrender the original CTD duly endorsed by the depositor/s
Dormancy Two (2) years after maturity

CHARGES:

Individual Corporation
Below Minimum ADB for two (2) consecutive months n/a n/a
Withholding Tax 20% of the total interest earned
For tax exemptions, entities claiming such excemptions shall provide the bank a copy of a valid, current and subsisting tax exception certificate or ruling as per existing administrative issuances any and issuances that maybe issued from time to time , before payment of the related income. (BIR) Revenue Memorandum 8-2014 dated February 6, 2014.
Pre-Termination Charges
Documentary Stamps P1.00 for every P200 x term/365
Penalty – Within 1st half of the term Seventy five (75%) percent of the stipulated rate
Penalty – Within 2nd half of the term Fifty (50%) percent of the stipulated rate

BENEFITS:
For the clients:

  • Higher interest rate

For the bank:

  • Increase total bank/branch funds/deposit
  • Promote better business relationship with the client
  • Prevent client/s from taking out the funds

REQUIREMENTS:

  1. Individual
    • Latest “1 x 1 ID” Picture
    • Two (2) Valid IDs
    • Proof of Billing
  2. Sole Proprietorship
    • Certificate of Registration of Business/Trade Name with DTI
    • Affidavit of Application of Business Name
    • Two (2) Valid IDs of the Proprietor
    • Proof of Billing
  3. Partnership
    • Articles of Partnership with SEC Certificate of Registration
    • By-Laws with SEC Certificate of Filing
    • Affidavit of Application of Business Name
    • Notarized Partnership Resolution
    • Two (2) Valid IDs of the Signatory/ies of the account
  4. Corporation
    • Articles of Incorporation with SEC Certificate of Registration
    • By-Laws with SEC Certificate of Filing
    • Notarized Board Resolution or Notarized Secretary’s Certificate indicating the following:
      1. USB as the Depository Bank
      2. The type of account to be opened
      3. The name of the authorized signatories to the account
      4. The signature combination/s
    • Two (2) Valid IDs of the signatory/ies of the account