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Peso Time Deposit

Product Definition :
An interest-bearing term deposit evidenced by a Certificate of Time Deposit with 30- up to 360-day term. Interest rate is based on the amount and term of deposit.

Product Benefits :
Higher Interest Earning Potential . Assures clients of yields higher than Savings Account rates.

Guaranteed Yields . Assures client of interest earnings for as long as the deposit remains with the Bank within the agreed term.

Forced Savings . Clients would be "forced" to leave their funds with the Bank untouched for a particular period of time.

Standby credit facility . Deposits can be used as loan collateral. Loan term co-terminus with or earlier than the maturity of the collateral.

Insured with PDIC . Funds insured up to P 250,000.00


Product Features :
 
Minimum Initial Deposit: P 10,000.00
Term: 30 - 360 days
Interest Rate: Based on prevailing market rates
Withholding tax: 20.0%
DST: P1.00 for every P200 or a fraction thereof
(For terms equal to or greater than one year)
(For terms that are less than one year, OST is pro-rated)
Fund Access: Withdrawal Slip OTC
Transaction Record: Certificate of Deposit

 

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