PRA SERVICES

Bank of Commerce is a PRA-accredited bank. We invite you to contact or visit any of our branches for your Special Resident Retiree's Visa* deposit requirements.

D E P O S I T   R E Q U I R E M E N T S

With Pension
50 years old and above:

• Required time deposit: USD $10,000.00
• Monthly pension of US$800.00 for a single applicant and US$1,000.00 for a married retiree couple

Without Pension
35 to 49 years old

• Required time deposit: USD $50,000.00

50 years old and above

• Required time deposit: USD $20,000.00

Former Filipino Citizens (at least 35 years old, regardless of the number of dependents):

• Required time deposit: USD $1,500.00

Ambassadors of foreign countries who served and retired in the Philippines, current and former staff members of international organizations including Asian Development Bank

• Required time deposit: USD $1,500.00

A resident retiree can also open additional accounts for the following, without additional deposit requirements:

• Spouse and a child who is unmarried and below 21 years old
• If the spouse is not joining, two (2) children (provided they are unmarried and under 21 years of age.)

Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of US$15,000.00 per child. The said time deposit however, is subject to the same terms and conditions with that of the principal deposit, except for former Filipino Citizens.


For your queries on the deposit requirements and how to open an account with Bank of Commerce, you may also email us at prainquiry@bankcom.com.ph.

To know more about the PRA’s Retirement Program, visit the Philippine Retirement Authority at 29/F Citibank Tower, 8741 Paseo de Roxas, Makati City, www.pra.gov.ph or e-mail at inquiry@pra.gov.ph.