feasibility study
IV. TECHNICAL FEASIBILITY
IV.1 SERVICES OFFERED
The HIRB will offer services such as:
REGULAR SAVINGS DEPOSIT
Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange
Features
Savings account with Passbook
Initial Deposit
500PHP
Maintaining Balance
500PHP
TIME DEPOSIT
A time deposit is an interest-bearing bank deposit that has a specified date of maturity. A bank is authorized to require depositors to give 30 days notice before withdrawing funds from a savings account; however, passbook accounts are typically considered readily available funds and account holders can make withdrawals without giving advance notice.
Features
High Bearing Interest (3%) Maturity term of 5 Years
Initial Deposit
10,000PHP
Maintaining Balance
500PHP
JOINT ACCOUNT
A joint account is a joint undertaking between two or more individuals to open and maintain a deposit account with the bank
Features
Any of the registered depositor of the joint account can withdraw and deposit money without authorization or signatories of the other party. Initial Deposit
5000PHP
Maintaining Balance
2000PHP
AGRICULTURAL LOANS
Agricultural Loans are made to farmers to finance farming activities. Agricultural loans make up about 1% of all bank loans but are an important form of lending for small rural banks. Smaller banks used about 6% of their assets to make agricultural loans. Short-term agricultural loans are usually seasonal and are used to finance the purchase of seeds, fertilizer and livestock. These types of loans usually require a lending officer to inspect the borrower’s farm once a year.
Features Guarantee low interest rate Flexible Payment term
Payment Terms Every Cropping (Twice a Year)
PERSONAL LOANS
Consumer loan granted for personal (medical), family (education, vacation), or household (extension, repairs, purchase
IV.1 SERVICES OFFERED
The HIRB will offer services such as:
REGULAR SAVINGS DEPOSIT
Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange
Features
Savings account with Passbook
Initial Deposit
500PHP
Maintaining Balance
500PHP
TIME DEPOSIT
A time deposit is an interest-bearing bank deposit that has a specified date of maturity. A bank is authorized to require depositors to give 30 days notice before withdrawing funds from a savings account; however, passbook accounts are typically considered readily available funds and account holders can make withdrawals without giving advance notice.
Features
High Bearing Interest (3%) Maturity term of 5 Years
Initial Deposit
10,000PHP
Maintaining Balance
500PHP
JOINT ACCOUNT
A joint account is a joint undertaking between two or more individuals to open and maintain a deposit account with the bank
Features
Any of the registered depositor of the joint account can withdraw and deposit money without authorization or signatories of the other party. Initial Deposit
5000PHP
Maintaining Balance
2000PHP
AGRICULTURAL LOANS
Agricultural Loans are made to farmers to finance farming activities. Agricultural loans make up about 1% of all bank loans but are an important form of lending for small rural banks. Smaller banks used about 6% of their assets to make agricultural loans. Short-term agricultural loans are usually seasonal and are used to finance the purchase of seeds, fertilizer and livestock. These types of loans usually require a lending officer to inspect the borrower’s farm once a year.
Features Guarantee low interest rate Flexible Payment term
Payment Terms Every Cropping (Twice a Year)
PERSONAL LOANS
Consumer loan granted for personal (medical), family (education, vacation), or household (extension, repairs, purchase