Education Savings Deposit

Characteristics:

• Type of deposit specifically designs for educational purposes such as graduation and enrollment.
• Minimum of P500.00 to open an account.
• With separate passbook upon opening of account.
• Minimum maintaining balance is P500.00.
• Quarterly interest computation based on the average daily balance.
• Withdrawal is allowed only for educational purpose
• Shall only be withdraw one (1) month before the enrollment (May or September) or graduation (March).
• Not subject to withholding tax.