Short Term Time Deposit
A short-term Peso TD with a term of 1-29 days. A Confirmation of Time Deposit is issued as a proof of deposit. TD placements beyond 29 days shall be placed in regular TD. If placement is terminated before maturity, interest rate shall go back to savings rate instead of quoted interest.
|Initial Deposit||Php 10,000|
|Interest Rate||Click here to view|
|Interest Payment||Compounded at Maturity|
|Maturity Disposition||Auto renew upon Maturity|
|Withholding Tax||20% of interest earning|
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.