US Dollar Savings Deposit

 

  • This is an interest-bearing US Dollar savings account whose transactions are recorded in a passbook.
  • It can be individual or joint account.

 

Product Features
  Individual Corporate / Government
Minimum Initial Deposit
US$100.00
US$1,000.00
Maintaining Balance Requirement - based on  MADB¹
US$100.00
US$1,000.00
Required MADB¹ to earn to Earn Interest
 
Gross Interest Rate Per Annum
US$500.00
 
0.25%
US$1,000.00
 
0.25%
Evidence of Deposit
Passbook
Passbook
Interest Crediting
Quarterly
Quarterly

¹MADB - Monthly Average Daily Balance

 

Fees and Charges
  Amount / Rate
Account Closure²
US$5.00
Falling Below Minimum Balance³
US$5.00 (individual) /
US$5.00 (corporate) /
Waived (government)
Account Dormancy⁴
US$5.00 (monthly fee after two (2) years of inactivity)
FCDU Check Deposit Fee
US$32.00 (US$30.00 - UCPB & US$2.00 - OFB)
Returned Fee for US$ check
US$5.00
Replacement of Lost Passbook
US$10.00
Transaction Statement
₱50.00 plus ₱20.00 for every additional page
Certification Fee
₱200.00 plus ₱30.00 (documentary stamps)
Withholding Tax for Interest Earned
15%
²Account Closure Fee will be collected if account is closed within 30 days from account opening.
³Falling Below Minimum Balance Fee will be collected if account falls below the required minimum MADB for two consecutive months.
⁴Account Dormancy Fee will be collected if account is dormant and falls below the required minimum MADB.
  • A savings account is dormant if it has no client-initiated activity for two (2) years.
  • Collection will start five (5) years after the last client-initiated activity date.

 

Benefits to Clients
  • Client can monitor their accounts by updating the passbooks
  • Accounts earn interest

 

Requirements
  • Completely filled-out bank forms
  • Customer Information Sheet (CIS) for Individual Clients
  • Signature Card
  • Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature

 

Contact Information

For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.