Special Savings Deposit is a special savings account that has competitive interest rates.

BASIC FEATURES:

• P 5,000 minimum deposit
• 30 days minimum holding period
• Offers a special savings rate
• Qualified/Eligible clients: Individual and Corporate accounts except banks and financial institutions.
  
• Interest Computation:
  Principal x Rate x Term (PRT)/360
  
• Documentation
  • Regular 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, the total amount due (principal plus interest due) shall be automatically renewed for the same terms and the corresponding prevailing interest rate shall apply.

  Requirements for Opening a
  SPECIAL SAVINGS ACCOUNT

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