Option Savings is a savings account which gives the client higher interest rate than regular savings account and the option to elect a period that suits his cash flow requirement thus maximizing income on his temporary funds.

• P 10,000 minimum deposit
• 15 days minimum holding period
• Tiered interest rates depending on amount of deposit
• Qualified/Eligible clients: Individual and Corporate accounts except banks and financial institutions.
• Interest computation:
  Principal x Rate x Term (PRT) / 360
• Documentation
  • Option Savings Passbook
• Insured by PDIC up to P 250,000.00
• Taxation: subject to 20% final tax
• Optional renewal:

  The client shall notify DBP of his desire to renew his option on or before the end of the elected option period. In case the client does not withdraw or does not give any notice of option renewal on or before the end of the elected option period, total amount due (principal plus interest due) shall be automatically renewed on the same terms and the corresponding prevailing interest rates shall apply.

Option Savings Account Requirements:

• Two (2) copies of signature cards
• Two (2) latest 1" x 1" ID pictures
• Two (2) valid and unexpired IDs with one (1) photocopy each
• For joint accounts, Joint Account Agreement Form
• For In-Trust-For (ITF) account for children 5 years old and below, photocopy of birth certificate
• Customer Record Form

Would you like to inquire further about this product? Fill-up this form.