PRA Time Deposit
Special time deposit offered to qualified retirees that will avail of a special resident retiree visa from the Philippine Retirement Authority (PRA). A duly signed Letter of Introduction from PRA bearing the client’s name and the amount shall be presented.
|Initial Deposit||USD 1,500 or its peso equivalent|
|Interest Rate||Click here to view|
|Interest Payment||Monthly Interest Out|
|Maturity Disposition||Auto renew upon Maturity|
|Withholding Tax||20% for PHP / 15% for USD|
|Currency||PHP and USD|
NOTE: In case the time deposit is terminated prior to maturity date, applicable taxes and charges shall be for the client’s account and deducted from the net proceeds of the time deposit.