Deposits Products
Savings Deposit
an interest bearing account withdrawable any time and evidenced by passbooks.
Start-Up Savings Passbook Account – Teach children the value of money and to form the habit of saving
Step-Up Savings Passbook Account – Your first step towards a strong financial foundation is to save for the future
Regular Savings Passbook Account – Your first step towards a strong financial foundation is to save for the future
Abot-Kaya Savings Passbook Account – We aim to promote financial inclusion especially to unbanked and underbanked in Cagayan Valley
Impok Pangarap – A Savings Bond for Small, Medium and Big Companies and deductions shall be made based on salary pay dates of the client’s company and must have filled up or signed up the GRBP Enrollment form.
Maintenance Fee
– A maintenance fee of ₱50 per month shall be collected from the deposit account when the balance has fallen below the required minimum monthly ADB for at least two (2) consecutive months
– The required minimum monthly average daily balance (ADB), the imposition and the rate/amount of maintenance fee, are properly disclosed among the terms and conditions of the deposit
– Ensure that clients are notified of any change in the required minimum monthly ADB and amount of dormancy fee at least sixty (60) days prior to implementation
– Fee for lost or stolen passbook is P100.00 and depositor must provide a notarized Affidavit of Lost Passbook
Dormant Accounts
– Accounts which has no activity (deposit or withdrawal) for more than two (2) years shall be classified and transferred to dormant account
– The Bank shall exert all efforts to prevent accounts from becoming dormant. When it becomes apparent that an account is inactive, a short letter should be sent to the depositor encouraging him to use his account
– The depositor shall be informed by registered mail with return card or Proof of Delivery (POD) service of the Philippine Postal Corporation and other mail couriers on his last known address at least sixty (60) days prior to the imposition of dormancy fee
– A dormancy fee of ₱30 per month shall be collected for the dormant account five (5) years after the last activity therein for as long as it remains in the dormant status that falls below the required minimum monthly average daily balance (ADB)
– Signature cards of dormant accounts shall be separated from active accounts file and access to these accounts shall be jointly controlled by the Teller and Bookkeeper. If any of the Teller and Bookkeeper is not present, the Branch Manager shall assume the responsibilities of the absent employee.
– Transactions involving dormant accounts require approval of the Branch Manager
– Dormant or inactive accounts shall be verified directly with depositors by sending a short letter
– Accounts which are held by the Bank and has no activity for the preceding ten years shall be classified and transferred to “Savings deposit – unclaimed balance” account and no interest shall be paid on these accounts.