Current Account

Product Description:

Interest-bearing Checking Account, that maximizes the power of account holder’s funds by earning interest while checks are issued.
Deposits and encashments can only be done via over the counter on its domicile branch and other RBA branches.
Uses record book to monitor transactions.
Deposits are insured by PDIC up to P500,000 per depositor.
Types: Personal and Corporate

CHECKING ACCOUNT – PERSONAL

Details	Terms
Minimum Initial Deposit	5,000.00
Maintaining Balance	5,000.00
Withholding Tax Rate	20%
Interest Rate	0.25%
Interest Credited	Quarterly
ADB Requirement	25,000.00
Required ADB to Earn Interest	25,000.00
Below Maintaining (ADB) Charge	P250.00 Monthly
Security	PDIC insured up to P500,000.00

2. CHECKING ACCOUNT – CORPORATE

Details	Terms
Minimum Initial Deposit	25,000.00
Maintaining Balance	25,000.00
Withholding Tax Rate	20%
Interest Rate	0.25%
Interest Credited	Quarterly
ADB Requirement	25,000.00
Required ADB to Earn Interest	25,000.00
Below Maintaining (ADB) Charge	P250.00 Monthly
Security	PDIC insured up to P500,000.00

OTHER SERVICE CHARGES

Details	Terms
Early Closure (within 30days)	300
Lost Passbook Replacement	110
Bank Certification	110
Statement of Account	5.00 per page
Checkbook	200
Stop Payment Order (SPO)	300.00 per check
Returned Check (DAIF, DAUD)	2,000.00 + 200.00 per day for every 40,000 and a fraction thereof
Returned Check (SPO Unfunded)	2,000.00 + 200.00 per day for every 40,000 and a fraction thereof
Returned Check (SPO Funded)	1,000.00

DEPOSITS ARE INSURED BY PDIC UP TO P500,000.00 PER DEPOSITOR