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A. Product Features and Eligibility

  1. CWSLAI- Deposit Earn and Loan (CWSLAI-DEAL) shall earn 8% interest per annum compounded monthly for a period of 5 years.

  2.  The deposit shall be through monthly salary or pension deduction and subject to the minimum net take home pay requirement.

  3. Members eligible to open CWSLAI- DEAL account are under the following:

    • PAF Active Military Personnel

    • PAF Civilian Human Resource Personnel

  4. CWSLAI-DEAL can be used as collateral for sufficient fund loan.

  5. Monthly Deduction for CWSLAI-DEAL account are as follows:

    • Investing Member – Minimum of P500.00 up to a Maximum of P1,500.00.

    • Member who avails loan – Minimum of P500.00 up to a Maximum of P5,000.00.

    • Member with existing loan prior to effectivity- Maximum of P2,500.00. 

  6. A member has the option to avail of multiple CWSLAI-DEAL, however, the amount of total monthly deposit shall not exceed the maximum limit of P5,0000.
  7. Members have the option to avail of salary or pension loan with a minimum principal amount of P50,000.00 and minimum loan term of 12 months.

  8. If a member fully pays or when his loan matures, he can avail of the CWSLAI-DEAL within one year from the date of full payment or maturity of the loan.

B. Opening and Maintaining of Account

9. Member shall fill-out CWSLAI DEAL Account form and request for salary deduction/pension deduction and submit to CWSLAI.

10. CWSLAI-DEAL passbook shall be issued upon effectivity of salary or pension deduction.

11. Branches and liaison offices shall submit the monthly availment of CWSLAI-DEAL to Collection Division

12. Collection Division shall consolidate the monthly availment of CWSLAI-DEAL

13. If the monthly deposit to CWSLAI DEAL Account (CDA) is insufficient, the member has the option to make over the counter payment within the month to cover the monthly deposit.

14. If a member fails to make two consecutive monthly deposits or fails to update his account due to deficit deposit to his CWSLAI-DEAL account, the same shall automatically be terminated.

15. Any excess remittance to CDA shall be credited to Accounts payable of the member.

C. Pre-termination and Termination of Account

16. Pre-terminated CWSLAI-DEAL shall only get 25% of the earned interest. In case of termination or withdrawal of the principal, the passbook must be surrendered to the nearest CWSLAI branch/liaison office.

17. If the member fails to claim the maturity value of his investment the same shall be automatically transferred to Accounts Payable without interest.

18. For terminated CWSLAI-DEAL accounts the process for regular withdrawal shall be applied.

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