{"id":2706,"date":"2023-05-31T02:59:50","date_gmt":"2023-05-31T02:59:50","guid":{"rendered":"https:\/\/localhost\/cordovampc\/?page_id=2706"},"modified":"2024-07-31T01:46:49","modified_gmt":"2024-07-31T01:46:49","slug":"savings-deposit","status":"publish","type":"page","link":"https:\/\/cordovampc.com\/?page_id=2706","title":{"rendered":"Savings Deposit"},"content":{"rendered":"\t\t
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Savings Deposit<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Regular members who are willing to abide by the rules and regulations set by the cooperative.<\/em><\/p>

Initial amount of deposit – Php500.00<\/em><\/p>

Minimum deposit to earn interest – Php 1,000.00<\/em><\/p>

\u00a0Maintaining Balance – Php1,000.00<\/em><\/p>

\u00a0Interest rate (computed quarterly) – 1.5% p.a<\/em><\/p>

\u00a0No monthly charges<\/em><\/p>

\u00a0Interest earned is not subject to withholding tax<\/em><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Regular members who are willing to abide by the rules and regulations set by the cooperative.<\/em><\/p>

Initial amount of deposit – Php 500.00<\/em><\/p>

Minimum deposit to earn interest – Php 1,000.00<\/em><\/p>

Maintaining Balance – Php 1,000.00<\/em><\/p>

Interest rate (computed quarterly) – 1.5% p.a<\/em><\/p>

No monthly charges<\/em><\/p>

Interest earned is not subject to withholding tax<\/em><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Members of Cordova Multipurpose Cooperative Youth United Laboratory Cooperative ( YU LABCO )<\/em><\/p>\n

Membership Fee – Php 15.00<\/em><\/p>

Share Capital – Php 30.00<\/em><\/p>

Initial amount of deposit – Php 50.00<\/em>
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Minimum deposit to earn interest – Php 1,000.00<\/em><\/p>\n

Maintaining Balance – Php 50.00<\/em><\/p>\n

Interest rate (computed quarterly) –  1.5% p.a<\/em><\/p>\n

No monthly charges<\/em><\/p>\n

Interest earned is not subject to withholding tax<\/em><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t<\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tTime Deposit<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

The depositor must be a regular member of CORDOVA MULTIPURPOSE COOPERATIVE (CMC) with a paid-up share capital of at least Five Thousand Pesos (Php 5,000).<\/em><\/p>\n

Minimum amount of Time Deposit is Twenty Thousand Pesos (P20,000.00)<\/em><\/p>\n

One of the products and services offered by CMC to its members is the Time Deposits (TD). These are interest bearing deposits that have a specified date of maturity. Interest is not subject to withholding tax.<\/em><\/p>\n

The interest rates per annum for these Time Deposits are:<\/p>\n

<\/p>\n\n\n\n\n\n\n\n
Amount<\/th>\n3-5 Months<\/th>\n6-11 Months<\/th>\n12 Months<\/th>\n<\/tr>\n
20,000 \u2013 50,000<\/td>\n2.5%<\/td>\n3.5%<\/td>\n4.5%<\/td>\n<\/tr>\n
50,001 \u2013 200,000<\/td>\n3%<\/td>\n4%<\/td>\n5%<\/td>\n<\/tr>\n
200,001 \u2013 500,000<\/td>\n3.5%<\/td>\n4.5%<\/td>\n5.5%<\/td>\n<\/tr>\n
500,001 up<\/td>\n4%<\/td>\n5%<\/td>\n6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The above rates are subject to revisions by the board of directors based on the prevailing market rates in banks, treasury bills and in other co-ops.<\/em><\/p>\n

Any fresh funds added as time deposit will be subjected to the prevailing interest rates.<\/em><\/p>\n

Interest accrued monthly and paid upon maturity<\/em><\/h6>\n

If the time deposit is withdrawn before maturity<\/em><\/p>\n

 The rate for savings deposits will apply if the holding period of the time deposit upon termination is less than Three(3) months.<\/em><\/p>\n

 The rates as indicated in the table above will apply if the holding period of the time deposit upon pre-termination is more than or equal to Three(3) months.<\/em><\/p>\n

After maturity, the interest of the excess days or months after the maturity date of the time deposit will be computed based on the rate for savings deposits, if not renewed on due date.<\/em><\/h6><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Savings Deposit Regular Savings Regular members who are willing to abide by the rules and regulations set by the cooperative. Initial amount of deposit – Php500.00 Minimum deposit to earn interest – Php 1,000.00 \u00a0Maintaining Balance – Php1,000.00 \u00a0Interest rate (computed quarterly) – 1.5% p.a \u00a0No monthly charges \u00a0Interest earned is not subject to withholding […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-2706","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/cordovampc.com\/index.php?rest_route=\/wp\/v2\/pages\/2706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cordovampc.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/cordovampc.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/cordovampc.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cordovampc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2706"}],"version-history":[{"count":88,"href":"https:\/\/cordovampc.com\/index.php?rest_route=\/wp\/v2\/pages\/2706\/revisions"}],"predecessor-version":[{"id":3982,"href":"https:\/\/cordovampc.com\/index.php?rest_route=\/wp\/v2\/pages\/2706\/revisions\/3982"}],"wp:attachment":[{"href":"https:\/\/cordovampc.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}