Pangarap Savings and Munting Pangarap Savings
A basic, interest-bearing account targeted towards the unbanked and underserved markets in the Philippines.
0.5% per annum
Eligibility Criteria:
| 1. A Filipino citizen deemed unserved or underserved by a formal financial institution. |
| 2. A resident or student of the community where the branch operates. |
| 3. Age: |
| a. Pangarap BDA - 18 years old and above |
| b. Munting Pangarap BDA - 17 years old and below |
Requirements: 1 valid ID or Barangay Clearance
| Acceptable Valid ID’s | |
|---|---|
| a) PhilID or ePhilID from the PhilSys |
|
| b) Other identification documents with picture issued by the Government of the Republic of the Philippines |
|
| 1. Passport | 10. OFW e-Card |
| 2. Driver’s License | 11. Alien Certificate of Registration (ACR) |
| 3. PRC ID | 12. Seaman’s Book |
| 4. NBI Clearance | 13. GOCC ID i.e. AFP ID, HDMF ID |
| 5. Police Clearance | 14. PWD ID issued by the National Council on Disability Affairs |
| 6. Voter’s ID | 15. Integrated Bar of the Philippines (IBP) ID |
| 7. Postal ID | 16. PhilHealth ID |
| 8. Senior Citizen Card | 17. Unified Muti-Purpose ID (UMID) |
| 9. OWWA ID | |
| c) Other identification documents that can be verified using reliable, independent source documents, data or information. |
|
Fees and Charges
| Pangarap Savings | Munting Pangarap Savings | |
|---|---|---|
| Initial Deposit | P 50.00 | P 50.00 |
| Maintaining Balance | None | None |
| Maximum Account Balance | P45,000.00 | P45,000.00 |
| The bank shall convert the basic deposit account to a regular deposit account. However, when his/her account balance exceeds P45,000, the account is required to be converted to a Regular Savings Account or depending on his capability to own the multiple accounts | The bank shall convert the basic deposit account to a regular deposit account. However, when his/her account balance exceeds P45,000, the account is required to be converted to a Regular Savings Account or depending on his capability to own the multiple accounts |
|
| Interest Rate per Annum | 0.5% per annum, subject to change anytime considering factors like the cost of maintaining the deposit account. | 0.5% per annum, subject to change anytime considering factors like the cost of maintaining the deposit account. |
| Average Daily Balance to Earn Interest | P500.00 | P500.00 |
| Interest Crediting | Monthly | Monthly |
| Dormancy Charges | P0.00 | P0.00 |
| Closure of account (voluntary closure or closing of account within 180 days from Account Opening) | None | None |