Guide on Chinabank Regular Time Deposit Account Features & Application Requirements
CHINABANK REGULAR TIME DEPOSIT ACCOUNT – Here are the features of this time deposit account offer of China Bank and the requirements.
Nowadays, a lot of people prefer keeping their money in a time deposit account rather than a simple savings account. If you are one of these individuals and you are looking for an entity where you can keep your money, Chinabank is one of those that you may turn to.
Chinabank Regular Time Deposit Account
If you are planning to have your money under a time deposit account for not more than three (3) months, this can be a perfect solution for you. Here are the details in figures regarding this time deposit account:
- Minimal Placement Requirement – P5,000
- Minimum Term – 90 Days
- Withholding Tax – 20%
- Evidenced by – Certificate Time of Deposit
Requirements for Application
If you are applying as an individual:
- duly-accomplished and signed Chinabank Regular Time Deposit Account
- two (2) 1×1 ID photos
- original and clear copy of at least one (1) valid IDs. You can choose from the following:
- Postal ID
- Passport
- Barangay Certification
- National Bureau of Investigation (NBI) Clearance
- Driver’s License
- Professional Regulations Commission (PRC) ID
- Police Clearance
- Government Service and Insurance System (GSIS) e-Card
- Voter’s ID
- Senior Citizen Card
- Barangay Certification
- Social Security System (SSS) Card
- Seaman’s Book
- Integrated Bar of the Philippines ID
- Overseas Filipino Worker (OFW) ID
- Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
- School ID
- Department of Social Welfare and Development (DSWD) Certification
If you are applying for a Business / Sole Proprietorship:
- duly-accomplished and signed Chinabank Passbook Savings Account
- Application for Registration with DTI
- Certificate of Tax Exemption / Preferential Tax Treatment
- Certificate of Registration of Business Name with DTI
- Special Power of Authority (SPA) if the signatory is other than the owner of the business
If you are applying for Partnership Accounts:
- duly-accomplished and signed Chinabank Passbook Savings Account
- Articles of Co-Partnership
- Certificate of Registration by the Securities Exchange Commission (SEC)
- Partnership Resolution or Agreement duly notarized, designating the following:
- China Bank as its depository bank
- Authorized signatories
- Certificate of Tax Exemption / Preferential Tax Treatment
To apply for the savings account, go to a Chinabank branch and submit the aforementioned documents needed based on your application type. All applications for a savings account is subject to the approval of the bank.
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