It is an account with Passbook or BDA ATM card designed to promote financial inclusion, especially the unserved and underserved individuals who have fewer goods or services available in their geographic area to provide ease, accessibility and convenient banking services.
BASIC REQUIREMENTS UPON ACCOUNT OPENING
INDIVIDUAL
1 Valid ID (Government issued)
| Minimum Initial Deposit | Php 50.00 |
| Minimum Maintaining Balance | Php 1.00 |
| Maximum Deposit Balance | Php 50,000.00 (based on end-of-day balance) (in case of excess, automatic transfer to other deposit account such as regular savings or time deposit) |
| Interest Rate | 0.25% per annum |
| Minimum ADB to Earn Interest | Php 500.00 |
| Holding Period | Savings account is of continuing nature. There is no maximum period of holding. |
| Closure Charge | None |
| Below Minimum ADB Charge | None |
| Dormancy Charge | No dormancy charge |
| Card Replacement (If Lost/Stolen affidavit of Loss duly notarized shall be presented) | Php 100.00 |
| Passbook Replacement | Php 50.00 |
| Proof of Ownership | Passbook or Fastcard ( generic cards) Note: Branches with no fast card product shall issue passbook. |
| Inter branch charge involving Siocon | Php 50.00 |
Deposits are insured by PDIC up to P1,000,000 per depositor.