ENHANCED SAVINGS DEPOSIT (PCGSLAI Time Deposit)
It is termed Deposit Account similar to a Time Deposit. Member-Depositors can open an PCGSLAI Time Deposit Account and make deposits with the PCGSLAI over and above their Capital Contribution and Special Savings Accounts with no deposit ceiling at all.
ELIGIBILITY
open to all members of the PCGSLAI in good standing. FEATURES
Minimum Deposit - PhP 1,000.00
Maximum Deposit per member - No Limit, subject to AMLCRegulations
Interest Rate - Determined and approved by the BOT
- 5.5% per annum – One Year Term
6.5% per annum – Two Year Term
7.5% per annum – Three Year Term
Term (Holding Period) - One Year, Two Years, Three Years
Proof of Deposit - PCGSLAI Time Deposit Certificate with Peso Face Value as follows
• One Thousand (P1,000)• Five Thousand (P5,000)
• Ten Thousand (P10,000.00)
• Fifty Thousand (P50,000.00)
• One Hundred Thousand Pesos (P100,000.00)
• Five Hundred Thousand Pesos (P500,000.00); and
• One Million Pesos (P1M)or an amount to be determined by the Board of Trustees. FEES AND OTHER CHARGES
PRE-TERMINATION FEE – equivalent to 20% of the earned interest computed at Average Daily Balance Method.
CERTIFICATE FEE –charges for loss PCGSLAI Time Deposit Certificate 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
- 1. ESD form - Click here to Download
2. Deposit Slip - Click here to Download
3. The PCGSLAI shall issue an PCGSLAI Time Deposit CERTIFICATE as proof of placement which shall correspond to the total amount deposited by the member. The member may choose the preferred face value of the EPCGSLAI Time Deposit Certificates.
4. Proceeds upon Maturity –shall be credited to the member’s SDA Account and can be withdrawn anytime. click here to Download
