PREMIUM SAVINGS:

This is another type of savings deposit with higher interest rates compared to Regular, Basic or ATM Savings is the Premium Savings to be called CBB Savings-Prime. The depositor will be issued a passbook after complying all the required documents in opening an account. Interest shall be computed quarterly based on average daily balance (ADB). An additional amount shall be allowed any time. However, withdrawal is limited as the essence of this type of deposit is to build up savings but still can withdraw in times of need. Other features to describe this type of account are as follows:

1. Minimum amount in opening shall be P100,000.00.

2. Maintaining balance per month shall be P100,000.00.

3. Minimum ADB to earn interest shall be P100,000.00.

4. Maximum of three (3) withdrawals every quarter before posting of interest earned. Any excess shall be charged a fee amounting to P250.00.

5. Minimum Interest rate shall be 1.50% (higher than regular savings but lower than a time deposit)

6. Interest earned shall be charged with a withholding tax of 20%.

7. Not subject to documentary stamp tax as this is a savings account.

8. Maximum deposit insurance with PDIC is P500,000.00 per depositor.

9. Charges:

    Below maintaining balance – P200.00 per month 

    Closed account within 30 days– P250.00

    Withdrawal in excess of 3 times a quarter – P250.00 per transaction

    Lost passbook – P300.00

10. Dormancy – Account will become dormant if no deposit and withdrawal transaction for two (2) years.

11. Qualified to open an account:

       I. Individual

          At least 18 years old

          Filipino citizen

          If, foreigner with passport and one of the following:

               Alien Certificate of Registration (ACR)

               Special Investor’s Resident Visa (SIRV)

      II. Special Resident Retiree’s Visa (SRRV)

      III. Corporation/Partnership

      IV. Cooperative

      V. Association/Organization

Deposits are insured by PDIC up to ₱500,000 per depositor.