Time Deposit
Time Deposit Calculator
Time deposit.
When you put money into a bank or savings and loan account with a fixed term, such as a certificate of deposit (CD), you are making a time deposit.
Time deposits may pay interest at a higher rate than demand deposit accounts, such as checking or money market accounts, from which you can withdraw at any time.
Where the time deposit is held for 3 months or longer, interest will be paid at half the contracted rate for each completed month; and Where the time deposits is held for less than 3 months, no interest shall be paid. Payment of interest upon maturity: For deposit at or over 13 months, interest can be credited every half-yearly if required. A time deposit, also referred to as certificates of deposit, is a fixed deposit at a bank, which you will not have access to during the agreed time period in exchange for a higher interest rate compared to a savings account. Identical to an investment account, you will be eligible to a higher premium rate as a return on your investment. A time deposit, also referred to as term deposit, is an interest-bearing bank account with a fixed term. It allows depositors to grow their money with higher interest rates compared to a regular. If you have big goals in mind, it’s time to step up your savings strategy. BDO Peso Time Deposit is a short term peso investment that provides higher interest rate of return at a specified future date. NOTE: Interest rates are INDICATIVE and are subject to change without. Time Deposit Regular Time Deposit PNBig Savings Treasury Negotiated Time Deposit Top Dollar Greenmarket Time Deposit. Loans PNB Housing Loan PNB.
But if you withdraw from a time deposit account before the term ends, you may have to pay a penalty -- sometimes as much as all the interest that has been credited to your account. Some other time deposits require you to give advance notice if you plan to withdraw money.
