Peso Grow Savings

Characteristics:

• Interest rate shall be at 4 % per annum subject to quarterly interest posting every quarterly. Interest automatically rolls over as deposit.
• 3 years lock in period and 4th year member option
  • Redemption of deposit starts at the end of the 3 year term and ends at the 4th year.
  • The management shall automatically transfer the PGS to Regular Savings of the same account holder after its 4th year.
  • Single placement or multiple placements are accepted (counted as one)
    • Lock in period commences on the placement and ends at the 3rd anniversary year or the nearest end of quarter.
    • 3rd year placements should not be more than the 1st year and 2nd year placements combined.
  • One account per member – minimum of P5, 000.00 to open an account. Maximum amount is at the discretion of the management.
  • Termination fee of 2.50 % if the member terminated the deposit.
  • Partial withdrawal fee of 2.50 % of the amount withdrawn if the member withdraws from the account.
  • 30 days no fee change of mind option for the depositor- any interests incurred shall be voided.
  • 4th year member option at the same rate with no termination fee or partial withdrawal fee. Placement of new deposits shall no longer be allowed.
  • Acceptance of total placements of more than P500, 000.00 shall be at the discretion of the management at a case to case basis.
  • Passbook shall be issued.