Premium Savings Plan
- This is an interest-bearing deposit account that entitles the client to a premium over savings account interest rate.
- Interest rate is determined based on the amount and term of deposit.
|Individual||Corporate / Government|
|Minimum Initial Placement||₱100,000.00||₱100,000.00|
|Terms of Placement||Min. of 30 days up to max. of 360 days with automatic roll-over option||•Min. of 30 days up to max. of 360 days with automatic roll-over option|
|Gross Interest Rate Per Annum||Based on prevailing market rates||Based on prevailing market rates|
|Evidence of Deposit||PSP Passbook||PSP Passbook|
Fees and Charges
|Amount / Rate|
|Documentary Stamp Tax (DST)||₱1.50 for every ₱200.00 or fraction thereof|
|Withholding Tax of Interest Earned||20%|
|Replacement of Lost / Damaged passbook||₱200.00|
|Pre-termination of deposit||Reverted back to Savings Rate|
|Certification Fee||₱200.00 plus ₱30.00 (documentary stamps)|
Benefits to Clients
- Higher interest earnings than regular savings account
- Completely filled-out bank forms
- Customer Information Sheet (CIS) for Individual Clients
- Signature Card
- Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature
For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.