East West Bank | Personal Banking | Savings Maximizer

Personal Banking

Dollar Savings Account

Product Definition :
East West Dollar Savings is a foreign currency denominated savings account that earns interest and provides a standby credit line. The account is evidenced by a passbook.

Product Positioning : An affordable US dollar-denominated account where the funds can be used as a hedge against peso devaluation, and an immediate source of peso funds.

Target Market : Individuals and entities with regular inflow of dollar funds including beneficiaries of Overseas Filipino Workers (OFWs).

High networth individuals who travel or engaged in business abroad, including expatriates residing in the Philippines .

Product Benefits :
Affordable . Low balance requirement. No service charge on dollar notes deposit or withdrawal.

Earns interest . Provides opportunity to earn from dollar funds.

Standby Peso Credit Line . Offers up to 80% of the peso equivalent of the dollar deposit using the prevailing booking rate at the time of conversion. Up to 90% of the amount of deposit if proceeds are in USD. Minimum loan amount of P 50,000. Loan term of 30 days up to 1 year.

Hedge against peso devaluation . Accessible funds in US dollars.

Insured with PDIC . Dollar funds insured equivalent to P 250,000.00

Product Features :

Minimum Initial Deposit:	$200.00
Maintaining ADB:	$200.00
Interest Earning Balance:	$500.00
Interest Rate:	.75% p.a.
Withholding tax:	7.5%
Fund Access:	Over-the-counter/Net Access
Transaction Record:	Passbook