The PCGSLAI has recently launched the ENHANCED SAVINGS DEPOSIT (ESD). The ESD is a deposit program which entitles the Depositor to make savings deposits with the PCGSLAI over and above their Capital Contribution and Special Savings Accounts with higher interest yield over a fixed period of time. Features of the ESD are as follows:

Term (Holding Period)  

One (1) Year or Two (2) Years

Amount of Deposit

P50,000 or P100,000.00

Limit of Deposit

Open, subject to AMLC regulations

Interest Rate

4.75% per annum for One year Term /  5% per annum for Two years Term

Pre-Termination Charge

20% of the interest earned where the interest is computed similar to the Special Savings Account at its current SSD Interest Rate.

How to avail of the ESD?
1.    Must be Bona fide member in good standing
2.    Members must fill-up and sign an ESD Application Form (Click here to download).
3.    Choose and deposit the preferred amount of Deposit and the corresponding Face Value of the ESD Certificate.
4.    Choose the preferred Holding Period 
5.    Deposit the amount and agree to the Terms and Conditions on the ESD Certificate.

Terms and Conditions:
1.    Depositor must choose his/her preferred Holding Period (Term) and the face value (Denomination) of the ESD Certificate.

2.    Every P50,000 or P100,000 deposit will have corresponding ESD certificate.

3.    The ESD Certificate shall bear the name of the Depositor, the amount of deposit which is equal to the face value of the denomination chosen by the depositor, the interest rate for the preferred Term, the ISSUE DATE, MATURITY DATE and the serial number of the ESD Certificate. To be valid, the ESD Certificate MUST be signed by the duly authorized Signatories of the Association, must be imprinted with the PCGSLAI check writer and must stamped with the PCGSLAI Dry Seal. 

4.    The ESD shall earn an interest computed based from the approved interest rate for a One Year or Two Year Term. The interest earned for the first year of the Two Year Term shall be automatically credited to the Depositor’s Special Disbursement Account (SDA). Upon maturity of the ESD, the full amount of the ESD Certificate including the earned interest for one year shall be made payable to the Depositor upon surrender of the ESD Certificate.

5.    In case of premature termination of deposit, the depositor shall surrender the ESD Certificate which shall earn interest as special savings deposit with pre-termination fee of 20% of the earned interest.

6.    Maturity Dates falling on a non-working day shall be moved to the next working day.

7.    The ESD Certificate is necessary and must be surrendered when claiming payment on Maturity Date or during pre-termination. In case of a loss ESD Certificate, the Depositor may request for a Certified True Copy of the Duplicate ESD Certificate upon submission of an Affidavit of Loss and upon payment of corresponding Lost Certificate Fee.

8.    The PCGSLAI Board of Trustees reserves the right to suspend, change, amend or modify any of the terms and conditions herein provided, including but not limited to minimum and maximum deposits, Interest Rates, Pre-Termination Fees, manner of computing interests as deemed necessary for the good of the Association.

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