Time Deposit
Requirements for Time Deposit
- Special savings/Time deposits earn an interest of 3% to 4% per annum depending on the amount deposited and the period of deposits applied for.
- 10,000.00 - 499,999.00 - 3%/annum
- 500,000.00 – Above - 4%/annum
- A depositor who wish to renew the investment is still allowed to redeposit the fund they wishes. It shall undergo the same process as new deposit.
- The depositor shall deposit monthly at any denomination they liked or do a one-time deposit but with interest 1% lower. Any unmaintained account for successive three (3) months, except for one-time remittance, shall be automatically considered dormant. The interest of the said account shall not be computed or is frozen during the period of dormancy only until such account is reactivated.
- To reactivate the account means to continue depositing in it. And dormancy does not extend or prolong the term or maturity, the months the account was inactive is still counted in the term. This means that the deposited amount shall only be withdrawn after its maturity with the eared interest except during the period it was frozen.
- In case of loss of passbook, notify the coops at once, an affidavit of loss is required. Payment of One Hundred (100) pesos for new passbook.
Who are qualified to become a CITERMPCO member?
- Teachers, Employees and Retirees of Department of Education, Division of Sultan Kudarat
- Comply the prescribed pre-membership education seminar
- Residing within and adjacent area of operation
What are the requirements for membership?
- Approved application for membership.
- Certificate of completion of the prescribed Pre-Membership Education Seminar (PMES).
- Subscribed and paid the required minimum share capital and membership fee.
- Certification of the immediate superior that he/she is employed within DepEd, Division of Sultan Kudarat.
