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).
Active PCGSLAI Member
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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