This refers to accounts provided by RB of Mabalacat, Inc. for its clients to save money and interest-bearing deposits which are withdrawable upon presentation of a properly accomplished withdrawal slip with corresponding passbook. It is simple, liquid and accessible way to manage ones hard earned money. Minimum opening of account and maintaining balance for student is P100, P500 for individual and corporate accounts. Minimum deposit balance to earn interest for Regular Savings deposit is P1,000.00, interest on proceeds shall be subject to a 20% withholding tax.
Types of Deposit Accounts
Refers to the savings deposit account with daily, weekly, monthly or quarterly transaction (deposit or withdrawal) by the client and/or representative.
Dormant or Inactive Account
Refers to a regular savings deposit that has no transactions or activities (deposit or withdrawal) within two years. Clients will be informed thru mail regarding the status of their accounts. Service charge of P50 (below minimum balance) will be charged after 60 calendar days from transfer of accounts to dormancy.