A term deposit account that provides clients the opportunity to take advantage of tax benefits as provided by law, for as long as the deposit is kept with the Bank for a minimum of five (5) years.
Guaranteed yields on investment.
Interest earnings are tax-free and documentary stamps tax is waived.
Insured by the PDIC. Funds insured up to P500,000.
| Product Features : |
| |
|
Fixed Monthly Payout |
Lumpsum |
| Minimum Investment Amount: |
P100,000.00 |
P50,000.00 |
| Term: |
5 years |
| Interest Rate: |
Fixed for the entire term; Initial rate of 5.75% p.a. net of tax |
Fixed for the entire;
Initial rate of:
Below P100,000 -
5.75% net p.a.
P100,000 and above -
6.0% net p.a. |
| Withholding tax: |
Exempted provided that the minimum 5-year term is completed |
| Interest credited: |
At the end of each month to a designated Savings or Current account |
Interest earnings shall be paid at maturity date. |
| Fund Access: |
Withdrawal Slip OTC |
| Transaction Record: |
Certificate of Time Deposit |
Pretermination Penalty:
• Withdrawn w/in 1st half
• Withdrawn w/in 2nd half
|
Early withdrawal or pre-termination of placement will be subject to the following pre-termination penalty and appropriate withholding tax and DST:
50% of total interest earned
25% of total interest earned
No partial pre-termination shall be allowed
Penalty shall be deducted from the pre-termination proceeds.
Interest earnings shall be computed by using the formula (PxRxT) divided by 365.
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