A deposit alternative for members whose Capital Contribution Account is already beyond the maximum limit.
Q: How many co-depositors are allowed in SDA?
A: Maximum of two (2) co-depositors are allowed in SDA, who are also members of the Association.
Q: How is the interest rate computed?
as of end of quarter
|X||Interest Rate||X||No. of Days
(in a quarter)
Computation for 1st Quarter 2022
|Php 10,000*||X||3%||X||90 days||=||Php 75**|
*Balance as of December 31, 2021
**Interest is posted every end of the quarter (March 31, June 30, September 30 and December 31)
Q: What happens if the balance goes below the required maintaining balance of Php 100.
A: A monthly fee of Php 10 is charged for SD-02 account with balance below Php 100.
Q: Does dormancy apply for this account?
A: Yes, monthly dormancy fee of Php 30 is applied for accounts with no over-the-counter transactions within the last two years. To prevent the account from being dormant, members are advised to make an over-the-counter withdrawal or deposit transaction.