Thinking of growing your money? You can now avail of the higher time deposit rates offered by banks. See the latest interest rates among Philippine banks so you can get better earnings aside from your regular savings account.
Choose a time deposit account that meets your needs. Save your money at a set period of time with higher interest rate than in a savings accounts. If you have big goals in mind, it’s time to step up your savings strategy. BDO Peso Time Deposit is a short term peso investment that provides higher interest rate of return at a specified future date. NOTE: Interest rates are INDICATIVE and are subject to change without. Our Time Deposit Account is a single-deposit savings account with an interest rate that is fixed at the date of deposit for the term of the account. Where the time deposit is held for 3 months or longer, interest will be paid at half the contracted rate for each completed month; and Where the time deposits is held for less than 3 months, no interest shall be paid. Payment of interest upon maturity: For deposit at or over 13 months, interest can be credited every half-yearly if required.
Updated Time Deposit Rates in Banks
To help you decide on which bank to choose for high time deposit interest rate, see the updated values for each tenor. Banks offer maturity dates that are convenient to the client. You may click your preferred bank to see the latest rates of time deposit since they change almost every week.
Bank of Commerce
The time deposit rates of Bank of Commerce are provided based on the terms.
Term 30 days to 1 year.
Minimum amount for placement: Php 10,000
Earnings are based on the prevailing interest rates upon your transaction with Bankcom.
BDO
BDO offers time deposit to individuals who want to get better interest for their money. BDO time deposit interest rates range from 0.125% to 0.50 % for 20 million pesos and above.
Minimum amount for placement: Php 1,000
Maturity date options: 30, 60, 90, 180, 360 days
BPI
Bank of the Philippine Islands have some of the most competitive rates for time deposit. You can avail this service from 35 days to 1 year or 354 days. The BPI time deposit rates can range from .1875% to .25% depending on the amount of your deposit.
Minimum deposit: Php 1,000
Maturity options: 35, 63, 91, 182, 364 days
BPI Family Savings bank time deposit interest may be a little different ranging from 0.25% to 0.50% for 5 million pesos and above.
HSBC
You may also consider having a time deposit account at HSBC. They offer one of the lowest initial deposit amount for only Php 25,000. The HSBC time deposit interest rate vary so reach out to the nearest branch in your area.
Maybank
Maybank also offers competitive time deposit rates for its clients. One of the features of the account is the convenient minimum deposit of Php 25,000.
The tiered interest rate is based on your initial deposit and number of days or months.
A 20% withholding tax is applied while documentary stamps are waived.
Metrobank
If you are a Metrobank account holder, you may also consider a time deposit account with them. The bank offers one of the better interest rates when it comes to time deposit.
Metrobank time deposit interest rates can reach up to 1.625% as of the latest published values. Online transaction is also available at the comforts of your home.
Minimum initial deposit: Php 10,000
Available terms: 1 to 12 months
PBCom
PBCom also offers an option to avail their time deposit product. Regular and short term time deposit starts from Php 1,000 to Php 10 million and above. PBcom’s time deposit interest rates can range from 0.125 to 0.625 % depending on the initial deposit and term.
RCBC
RCBC’s latest time deposit rates range from 0.25% to 2.125% depending on your preferred number of days.
Note that these figures were referenced from RCBC website and may change without notice.
Security Bank
Security Bank offers an investment option through their time deposit features. The bank provides different tenors or maturity dates to suit your investment time frame needs. Security Bank time deposit interest rates can range from 0.25% to 1.4% for 5 million pesos and up, making it one of the highest interest among banks.
Minimum initial investment: Php 100,000
Maturity date options: 1, 2, 3, 6, 12 months and 2, 3, 4 years
Unionbank
Unionbank interest rate for time deposit range from 0.125% to 0.75% depending on the initial deposit amount and terms. Spin to win real money app download. For example, the interest rate for Php 50,000 to Php 299,999.99 is at 0.125% from 30-59 days.
Minimum Deposit Amount: Php 50,000
Terms: 30 days to 360 days
Veterans Bank
The Philippine Veterans Bank time deposit interest rate is based on the prevailing market rates. The minimum term is 5 years and 1 day.
They have a rather higher minimum amount of deposit at Php 100,000. There is no maximum deposit.
Minimum amount: Php 100,000
Free insurance is included in the account which could reach up to Php 5,000,000. The withholding tax is 20% while documentary stamp is waived.
You may inquire about the Veterans Hyper Saver Time Deposit if you wish to participate and create a time deposit account with them.
Online Time Deposit
Some banks are offering time deposit online which makes it more convenient for clients to avail of the investment at home. Simply log on to your account and set the time deposit amount and duration that you prefer.
Foreign Currency Time Deposit
You can also avail of the foreign denomination time deposit at your preferred bank. For example, you can use US dollars to apply for a time deposit account and choose the length of the deposit before redemption.
US dollar time deposit rates in the Philippines offer a reasonable interest rate for your foreign currency cash. You may proceed to any of your preferred banks and inquire about the dollar time deposit offers.
Withdrawal Time
You are in control as to how long you would like to save your money on a time deposit. Usually, banks can offer a minimum of 30 days to 10 years for the tenor. Redemption of your money can be done anytime but applicable fees may apply if you will withdraw before the agreed length of savings.
Time Deposit Without Fees
Some banks will offer a time deposit service without any fees. You may need to satisfy some conditions in this case. For example, redeeming your time deposit after the fixed tenor will usually not incur any penalties or charges.
Usually, the fees that the client needs to pay include documentary stamps and withholding tax. Applicable fees may also be applied for pre-termination of the time deposit.
OFW Time Deposit Rates
Some banks offer special interest rates and benefits to OFWs. You may inquire this from your preferred bank especially if you usually remit your money through it. Slot wolf casino no deposit bonus.
Compare Time Deposit Rates
If you wish to compare which bank has the highest interest rates for time deposit, you may use a table to see their offerings.
Highest Time Deposit Rates
Some of the highest time deposit rates available is set at 1.4%/ However, you may need to meet the required deposit amount before you can avail of the higher rates.
Requirements for Time Deposit
Simply bring your valid IDs and fill out the required forms from your preferred banks. You will also be given a certificate of your time deposit upon completion of your transaction. Some banks may require that you have an existing savings account with them before you can avail of the time deposit.
Amount Insured
The time deposit is insured by PDIC up to Php 500,000. The interest rates will be fixed until your redemption date. Therefore, your money is guaranteed just like having a regular savings account only with a better interest rate.
Disclaimer: Information were sourced externally and may change without notice. This site is not affiliated with the mentioned entities unless otherwise stated.
Last updated on
Time deposit.
When you put money into a bank or savings and loan account with a fixed term, such as a certificate of deposit (CD), you are making a time deposit.
Time deposits may pay interest at a higher rate than demand deposit accounts, such as checking or money market accounts, from which you can withdraw at any time.
Time Deposit Definition
But if you withdraw from a time deposit account before the term ends, you may have to pay a penalty -- sometimes as much as all the interest that has been credited to your account. Some other time deposits require you to give advance notice if you plan to withdraw money.