Time Deposit

I. REGULAR TIME DEPOSIT

Product Description:

  • Certificate of deposit (in Peso) with the Bank for a fixed period of time, in return for a fixed interest payable at the end of the term.
  • Transactions can be done via over the counter on its domicile branch.
  • PDIC insured up to P500,000
DetailsTerms
Minimum Initial Placement1,000.00
Placement Term30 days up to 360 days
Withholding Tax Rate20%
Documentary StampsP1,000.00 /200 x 1.50 x term/360
Pre-termination PenaltyRate back to 0.75%

II. 5 YEAR TIME DEPOSIT

Product Description:

  • Interest bearing Certificate of Deposit (in Peso) maintained for a minimum of (5) five years. Interest earned is credited every 35 calendar days.
  • Interest income earned by the depositor is waived from 20% final tax and documentary stamps, thus, increasing depositor’s yield and bank’s access to longer-term funding in support of its PDIC insured up to P500,000.00
DetailsTerms
Minimum Initial Placement50,000.00
Placement
Term
5 Year Fixed
Withholding
Tax Rate
waived
Documentary
Stamps
waived
Pre-termination Policya)Tenor<3 years : 50% of all interest earned
b)Tenor<4 years : 25% of all interest earned
c)Rate back to 0.75%. Subject to Withholding Tax and Documentary Stamps Expenses