Saving Builders
Savings Builder is an interest earning peso deposit account covered by a “Savings Builder Agreement and is linked to a primary account. The Savings Builder is the secondary account. Both Accounts are under the name of the Primary Accountholder. The Bank shall automatically transfer a specific amount from the primary account to the Savings Builder account on specified date/s of the month (maximum of two (2) transfers per month). Individuals, including sole proprietorship, may open this type of account. Direct withdrawal from the Savings Builder Account and direct deposit to the Savings Builder Account is not allowed.
FEATURES:
| Minimum Initial Deposit | 500.00 |
| Minimum Maintaining ADB (MMADB) not subject to service charge | n/a |
| Minimum Maintaining ADB (MMADB) to earn interest | 5,000.00 |
| Interest Rate: | 0.30% for below Php50,000.00 ADB |
| 0.35% for above Php50,000.00 up to Php99,999.99 | |
| 0.40% for Php 100,000.00 and above ADB | |
| Max No. of transfers | 2 transfers per month |
| Minimum Amount per transfer | 100.00 |
| Interest Payment | Monthly |
| Evidence of Deposit | Passbook |
| Withdrawal | presentation of passbook and a duly accomplished WS (fund transfer to the primary account) |
| Dormancy | Two (2) years from the last customer initiated transaction |
Qualified Primary Accounts:
- Individual Payroll Account
- Regular Savings or Current Account (with or without ATA or ATM)
- ChequePlus Account (with or without ATM)
- Joint Accounts (same type of account as above)
FEES and CHARGES:
| Below Minimum Maintaining ADB (MMADB) for two (2) consecutive months | n/a |
| Withholding Tax | 20% of interest paid |
REQUIREMENTS:
- Individual
- Latest “1 x 1 ID” Picture
- Two (2) Valid IDs
- Proof of Billing
- 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