PRA Time Deposit
A special time deposit for qualified retirees applying for a Special Resident Retiree Visa from the Philippine Retirement Authority (PRA). A Letter of Introduction from PRA, indicating the client’s name and deposit amount, is required.
| Initial Deposit | USD 1,500 or its peso equivalent |
| Term | 30-360 days |
| 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.
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Deposits are insured by PDIC up to P1 Million per depositor. |
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Deposits are insured by PDIC up to P1 Million per depositor. |