Education Savings Deposit

Interest Rate : 1.00% per Annum
Minimum Deposit : P500.00

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.

Health Savings Deposit

Interest Rate : 1.00% per Annum
Minimum Deposit : P500.00

Characteristics:

      • This savings account was intended to help members save for their medical needs.
      • Minimum of P500.00 to open an account
      • Passbook shall be issued upon opening this savings account.
      • Minimum maintaining balance is P500.00.
      • Quarterly interest computation based on the average daily balance.
      • Withdrawal is allowed only for hospitalization and medical purposes.
      • Medical Certificate or Doctor’s prescription or any valid proof of medical related needs has to be presented upon withdrawal.

Holiday Savings Deposit

Interest Rate : 1.00% per Annum
Minimum Deposit : P500.00

Characteristics:

      • Types of deposit specifically design for holiday purposes.
      • 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 one (1) month before the declared date of the chosen holiday.

Kiddie Savings Deposit

Interest Rate : 0.50% per Annum
Minimum Deposit : P500.00

Characteristics:

      • For members with children ages 12 years old and below can open this account.
      • This account is designed to encourage savings consciousness at young age.
      • 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 can be made anytime.
      • Not subject to withholding tax.

OFW Kaagapay Savings

Interest Rate : 3.50% per Annum
Minimum Deposit : P500.00

Characteristics:

      • This deposit product is offered specifically for Overseas Filipino Worker members.
      • Interest rate shall be at 3.5% per annum
      • Minimum of P500.00 to open an account. Maximum amount is at the discretion of the management.
      • Quarterly interest posting every end of March, June, September and December.
      • Remittance from abroad must be made through our partner banks only.
      • If there’s no remittance at least twice a year, the OFW Kaagapay Savings will be converted to a Regular Savings’s Deposit.
      • Passbook shall be issued.
      • Bank charges apply
      • Manatal Coop shall not charge any fee.

Pension Plan Savings

Interest Rate : 3.50% - 4.00% per Annum
Minimum Deposit : P100,000.00

Characteristics:

      • All members are eligible to open an account preferably senior citizen.
      • A minimum deposit requirement is P100,000.00 to open an account.
      • The interest rate on the 1st years is 3.50%, 2nd year is 3.625%, 3rd year is 3.75%, 4th year is 3.875%  and 5th year is 4.00% p.a.
      • Multiple placements shall be allowed within the first year. Placements after 1st year shall be upon the discretion of the cooperative.
      • Pension interest shall be automatically credited to Savings Deposit of the account holder every 1st day of the month. The 1st month shall be computed prorated.
      • Aside from monthly Pension interest, HOSPITALIZATION REIMBURSEMENT BENEFIT shall be awarded. Hospitalization can be converted to DEATH BENEFITS in case the account holder dies.
      • Added benefit, all pensioners shall also be given 13th MONTH INCENTIVE to be given on or before December 15th  of the year. (computation shall be prorated).
      • There will be a 2 years lock in period, and a 3rd  year and 4th year member termination option. The 5th year shall be at the discretion of the management to terminate the account. Termination fee of 2.00% if the member terminated the deposit in their 1st - 2nd year and 1.00% termination fee to the 5th year.
      • Each year up to fifth year, the pension amount and the hospitalization benefits are increasing. The 6th year onward rates shall be decided by the Board depending on the prevailing rates and inflation at that time

 

Peso Grow Savings

Interest Rate : 4.00% per Annum
Minimum Deposit : P5,000.00

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.

Regular Savings Deposit

Interest Rate : 0.50% per Annum
Minimum Deposit : P500.00

Characteristics:

      • Liquid savings account with no contracted maturity.
      • Minimum of P500.00 to open an account.
      • Maintaining balance is P1, 000.00.
      • If balance did not maintain the minimum balance the account will not receive interest.
      • Quarterly interest computation based on the average daily balance.
      • With separate passbook.
      • Withdrawal can be made anytime.
      • Not subject to withholding tax.

Smart Teens Saving Deposit

Interest Rate : 0.50% per Annum
Minimum Deposit : P500.00

Characteristics:

      • For members with children ages 13 to 17 years old and below can open this account.
      • With Smart Teen, members can save money for their children’s dream vacation, dream computer, dream mobile devices, etc.
      • 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 can be made anytime.
      • Not subject to withholding tax.

Solidarity Savings

...

Special Savings Deposit

Interest Rate : 2.00  - 3.25% per Annum
Minimum Deposit : P10,000.00

Characteristics:

Deposit placement with specific maturity date.

  • Available in 4 year, 3 years, 2 years, 1.5 years, 1 year, 6 months, 90 days, 60 days and 30 days with corresponding interest.
  • Only P10, 000.00 minimum deposit requirements.
  • Available with Certificate of Time Deposit.
  • Deposit can be used as loan collateral.
  • Pre-termination of the account shall mean the interest rate will be adjusted accordingly to the interest rate of regular savings deposit.
  • Not subject to withholding tax.

Short Term Deposit

Interest Rate : 0.625% - 1.50% per Annum
Minimum Deposit : P10,000.00

 

 

 

 

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