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Home > Trust > Special Investment Management Account -SDA (SIMA-SDA)
SPECIAL INVESTMENT MANAGEMENT ACCOUNT – SDA (SIMA-SDA)
The SIMA-SDA is a fund management service designed to offer high net worth individuals and corporations with competitive yield and liquidity for their short-term funds. This facility is available only for Philippine residents (per BSP Memorandum No. M-2012-034 dated 13 July 2012).
| FEATURES | |
|---|---|
| Investment Outlet | BSP - Special Deposit Account (SDA) |
| Minimum Initial Investment | Php 1,000,000 |
| Minimum Additional Investment | PHP 1,000,000 (if booked separately) |
| Minimum Maintaining Balance | PHP 1,000,000 |
| Investment Tenor* | 30 to 35 days (depending on tenor of the SDA issued by BSP) |
| Indicative Rate | Based on SDA rate offered by BSP on booking date, net of applicable tax and management fee |
| Management Fee | 0.50% p.a. |
| Tax Rate | Interest is subject to 20% final withholding tax |
| Settlement Date (for interest and maturity proceeds) | On maturity date of the SDA, credited to client's settlement account** |
| Transaction Cut-off Time | 11:30 am of any banking day |
**Clients are required to open or designate an RCBC current or savings account as settlement account
Investments in trust and other fiduciary products or services made through RCBC - Trust and Investments Group (RCBC-TIG) are not deposits and are not guaranteed, issued or insured by RCBC or its affiliates or subsidiaries. These investments are not insured by the Philippine Deposit Insurance Corporation (PDIC). Due to the nature of the investments, yields cannot be guaranteed. Historical performance, when presented, is purely for reference purposes and is not a guarantee of future results. Any income or loss is for the account of the trustor/investor. The Trustee is not and shall not be liable for any losses of the investment, except those resulting from willful default, bad faith or gross negligence.
For inquiries and more details, please call Trust and Investments Group - Marketing Division at (632) 894-9049, (632) 894-9870, (632) 894,9006 or (632) 878-3315 to 16 or visit any RCBC branch.
