Savings
Regular Savings
Characteristics:
Purpose:
To have liquid savings available for inopportune times.
Definition:REGULAR SAVINGS – Liquid savings account that can be withdrawn without any notice. It is an interest-bearing account with no contractual maturity for convenient access to funds through over the counter withdrawals or day- to-day transactions.
Policy Statements:
- Eligibility
- Qualifications
- Members of Oro Integrated Cooperative;
- Must have undergone Pre – Membership Education Seminar.
All Filipinos of legal age.
| SAVINGS PRODUCT | INTEREST RATE PER ANNUM | INITIAL DEPOSIT REQUIRED TO OPEN | MAINTAINING BALANCE TO EARN INTEREST | INTEREST CREDIT | PENALTIES FOR FALLING BELOW MAINTAINING BALANCE | OTHER REQUIREMENTS/FEATURES |
|---|---|---|---|---|---|---|
| REGULAR SAVINGS | 2.00% | ₱ 100.00 | ₱ 500.00 ADB | Quarterly | ₱ 10.00/Transaction |