US Dollar Time Deposit
- A form of US Dollar 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
|Individual||Corporate / Government|
|Minimum Initial Placement||US$1,000.00||US$1,000.00|
|Terms of Placement||Min. of 30 days up to max. of 360 days with roll-over option||Min. of 30 days up to max. of 360 days with roll-over option|
|Gross Interest Rate Per Annum||Based on prevailing market rates||Based on prevailing market rates|
|Evidence of Deposit||Certificate of Time Deposit||Certificate of Time Deposit|
Fees and Charges
|Amount / Rate|
|Replacement of Lost FCDU-CTD||₱200.00|
|Certification Fee||₱200.00 plus ₱30.00 (documentary stamps)|
|Withholding Tax of Interest Earned||15%|
Benefits to Clients
- Higher yields than the Dollar Savings Account rate
- Automatic renewal of placement on client’s instruction
- 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
For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.