Institutional clients which include Government line and attached agencies, Government-Owned and-Controlled Corporations (GOCCs), Government Financial Institutions (GFIs), Local Government Units (LGUs) and Private Institutions can now place their extra funds at OFBank. The Bank is now offering the High Yield Savings Account or the OFBank HYSA which is a peso account wherein funds of a specific amount are given pre-determined competitive rates for a fixed term. This product is offered to institutional clients only.
The required minimum placement for this type of account is ₱1,000,000.00 which can be placed for a minimum of 30 days and maximum of 360 days with rates given based on weekly posted rates and varies depending on term and amount. A passbook will be given upon opening as a proof of your deposit
The basic requirement for the opening of this type of account is the presentation and submission of valid and latest corporate documents.