DIVIDEND SAVINGS DEPOSIT (DSD)
A Savings Deposit account which is automatically opened by the PCGSLAI for all members to accommodate one-time distribution of dividend (member’s share in the net income of the Association).
ELIGIBILITY
Active PCGSLAI Member
FEATURES
Deposit –Not Allowed. Only Credit transactions initiated by the PCGSLAI is allowed.
Minimum Deposit / Maintaining Balance – Not required
Interest Rate - 0.3% per annum or at an interest rate prescribed by the Board
Interest – computed similar to a Special Savings Deposit (SSD) Account using the Daily Average Balance computation FEES AND OTHER CHARGES
LOST PASSBOOK FEE - P200
LBP SERVICE CHARGE – to be charged for withdrawal that are deposited to the member’s LBP ATM Account. Paid directly to Landbank and shall be deducted from the total deposits. DOCUMENTATION
A DSD passbook will be issued to the members to record all transactions.
Withdrawal Slip - a DSD Withdrawal Form is used for withdrawal.
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