I encouraged some friends to open a time deposit account as their savings which it has a higher rate than a regular savings account. If you have enough money but you are still undecided where and what to invest, keeping it in a time deposit account is safer. You are not tempted to withdraw money anytime and spend it wherever you like.
Requirements:
- 2 valid ID's (bring photocopy of the two ID's)
- 1x1 picture ID
- personal appearance
- amount of money you wish to put on a time deposit account
In peso time deposit account, you can start at P1K. You can choose any of the maturity terms: 30, 60, 90 days or even 5 years.
Check out the rates here at
BDO: Peso Time Deposit.
For questions or share your experience about
BDO Time Deposit Account, just comment below.
Disclaimer: I am not affiliated with BDO.
I was always curious about Time Deposits. I do have two questions:
ReplyDelete1) There are ranges in days. If you deposit 1000 PHP with a maturity of 30days, you'll earn 2.50PHP with the interest rate that they have (0.250%). (Did I calculate that right?) So if the maturity date is after 60 days, does that mean that for keeping your money with them for a total of 60 days, your 1000 PHP will also earn only 2.50php for the period that you keep it with them, or is it on a per month basis?
2) Once your account matures, can you put it in a new time deposit account? Kind of like refreshing the maturity date? Is that possible?
I am here in Sweden right now. I ant to open a time deposit account.but I don't want to entrust that application or account to any member of my family.is there any exception for ofw to open time deposit? Or only a joint account to open a time deposit while I'm here.?
ReplyDeletehow can i open savings account while im here in sweden any tips u can give?
ReplyDelete