Peso Time Deposit

  • A form of deposit earning an interest rate higher than savings account rate.
  • Interest rate is determined based on the amount and term of deposit.
  • This account is withdrawable at maturity and is evidenced by a Certificate of Time Deposit

 

Product Features
 IndividualCorporate / Government
Minimum Initial Placement₱20,000.00₱50,000.00
•Terms of Placement
 
 
•Gross Interest Rate Per Annum
•Min. of 30 days up to max. of 360 days with roll-over option
 
•Based on prevailing market rates
•Min. of 30 days up to max. of 360 days with roll-over option
 
•Based on prevailing market rates
Evidence of DepositCertificate of Time DepositCertificate of Time Deposit


 

Fees and Charges
 Amount / Rate
Documentary Stamp Tax (DST)₱1.50 for every ₱200.00 or fraction thereof
Replacement of Lost / Damaged CTD200.00
Pre-termination of depositReverted back to Savings Rate
Withholding Tax of Interest Earned20%
Certification Fee₱200.00 plus ₱30.00 (documentary stamps)
 
Benefits to Clients
  • Provide higher interest earnings than regular savings
  • The deposit can be used as loan collateral

 

Requirements
  • Completely filled-out bank forms
  • Customer Information Sheet (CIS) for Individual Clients
  • Signature Card
  • Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature

 

Contact Information

For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.