Time Deposit Terms and Conditions

Terms and Conditions

 

  1. This deposit is subject to the terms and conditions on account opening and maintenance, to specific product guidelines as may be applicable and all other rules and policies of the Bank, and shall be governed by and is subject to laws of general application and other issuances on foreign exchange transactions as may be issued by competent authority from time to time.
  2. Termination of this deposit by withdrawal before the stipulated Maturity Date may be allowed subject to the prevailing policy of the Bank on pre-termination and the proceeds thereof shall be credited to the settlement account
  3. Any withdrawal of this deposit shall render the certificate cancelled for all intents and purposes. Hence, presentation of the depositor’s copy of this certificate to the Bank is not a pre-requisite to withdrawal.
  4. If no depositor’s instruction is given at the time of the opening of the time deposit or at any time during the term of the deposit, the Bank shall automatically credit the deposit proceeds to the settlement account on the stipulated maturity date.
  5. This deposit shall be subject to applicable withholding tax rate, unless client presents a certification or pertinent supporting documents acceptable to the Bank which state that client is exempted from corresponding tax.
  6. Further details on features, policies, terms and conditions of time deposit products are available for clients’ viewing on Security Bank Corporation’s website: https://www.securitybank.com.
  7. This deposit may not be assigned / transferred without the prior written consent of the Bank.
  8. Deposits in form of foreign currency notes shall be governed by the additional conditions stated below. The payment of debts in money shall be in the Currency stipulated, and if it is not possible to deliver such currency then in the currency which is legal tender in the Philippines.
  9. The mere possession of the certificate shall not be presumed or deemed as proof of non-payment of the proceeds thereof. For any dispute regarding non-payment, the depositor should submit evidence that the settlement account was not credited.
  10. For inquiries and complaints, please call our 24-Hour Customer Service hotline at (632) 888-791-88 or email us at [email protected]. Security Bank Corporation is supervised by Bangko Sentral ng Pilipinas with telephone number (632) 8708-7087 and email address [email protected].
Additional Conditions for Foreign Currency Deposit in the Form of Foreign Currency Notes
  1. Any single deposit shall not be less than the amount set by the Bank.
  2. The Bank reserves the right to close the account in case any amount of the deposit is found to be counterfeit.
  3. Counterfeit notes shall be confiscated and surrendered to the Bangko Sentral ng Pilipinas.
  4. A minimum service charge set by the Bank shall be collected upon deposit.

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