Paid-up Shares Account

Indefinite Period Paid-up Shares

Indefinite Period Paid-up Savings are offered to companies, institutions, associations and individuals over the age of sixteen.

 

Features

  • Interests are payable in March and September each year.
  • Funds can be redeemed on application at the discretion of BBSL, subject to six months’ notice after an initial period of fifteen months.
  • In an emergency, the funds can be used as security for loans of up to 75% of their value.
  • The funds are readily transferable to third parties on application.
  • The funds can be used as collateral security for mortgage loans.
  • The funds can be redeemed immediately in the event of death of the account holder.
  • An initial deposit of P250,000.00 is required to open an account and thereafter subsequent deposits of P100 or more.
  • There is no limit to the number of deposits.

Fixed Period Paid Up Savings

This account is offered to companies, institutions, associations and individuals over the age of sixteen.

Features

  • Interest is payable in March and September each year.
  • The funds can be redeemed on application, subject to giving three months’ notice after an initial period of fifteen months or forfeiture of 3 months interest in lieu of notice. In an emergency, the funds can be used as security for loans of up to 75% of their value.
  • The funds can be used as collateral security for mortgage loans.
  • The funds can be redeemed immediately in the event of death of the account holder.
  • An initial deposit of P200 is required to open an account and thereafter subsequent deposits of P200 or more.
  • There is no limit to the number of deposits.
  • Interest paid 1.1% bi-annually