• Bank of Commerce Time Deposit

    Bank of Commerce Time Deposit

    About Bank of Commerce

    Bank of Commerce, also known by the names BankCom, Bancommerce and BoC, is an affiliate of the San Miguel Corporation. It was established in 1963 and has its headquarters in Mandaluyong, Philippines. The Bank offers a wide range of finance and banking products and services such as corporate banking, deposit and cash management products, consumer banking, e-banking solutions, credit card services, trade and remittances, and so on. The Bank currently has 123 branches across the nation.

    Bank of Commerce Time Deposits

    Bank of Commerce offers the following time deposit schemes to its customers:

    • Future Secure Time Deposit
    • One Year Time Deposit
    • Time Deposit
    • Premium Savings Account
    • Premium Savings Account Money Market
    • US Dollar or Euro Time Deposit

    Future Secure Time Deposit

    Future Secure Time Deposit is a unique scheme offered by Bank of Commerce that ensures good return on investment for the customers and ensures a brighter, financially secure future for them.

    Features:
    • Minimum amount to be placed is PHP 50,000 or USD 20,000.
    • Under this term deposit scheme, for funds deposited in PHP the term applicable is 1, 3 or 5 years and for USD the term applicable is two years.
    • Fixed quarterly interest crediting is made to the settlement account.
    • This scheme comes with certificate of Time Deposit to the customer.
    • Bank of Commerce carries documentary stamp taxes for Peso, unless the placement has been pre-terminated.

    One Year Time Deposit

    This Time Deposit is made for a fixed duration of one year.

    Features:
    • The minimum required funds to be placed in this time deposit scheme is PHP 10,000.
    • The time deposit is made for a fixed term of one year.
    • Interest is credited on a monthly basis to the designated settlement account.
    • This scheme comes with certificate of Time Deposit.
    • Unless placement is pre-terminated, Bank of Commerce will deal with the documentary stamp taxes.

    Time Deposit

    This Time Deposit lets you save a fixed amount and earn interest over a chosen period of time. Interest will be credited upon maturity.

    Features:
    • The minimum required funds to be placed in this time deposit scheme is PHP 1,000.
    • Minimum term is 30 days and maximum term is less than a year.
    • Interest will be credited only upon maturity.
    • This scheme comes with certificate of Time Deposit.
    • Unless placement is pre-terminated, Bank of Commerce will deal with the documentary stamp taxes.

    Premium Savings Account

    This scheme offers higher interest rate through a fixed amount over a fixed period, and also assists customers in keeping track of their deposit through an on-hand passbook. Interest on the funds invested will be credited upon maturity.

    Features:
    • The minimum required funds to be placed in this time deposit scheme is PHP 50,000.
    • Minimum term is 30 days and maximum term is less than a year.
    • Interest will be credited upon maturity.
    • This deposit comes along with an on-hand passbook.
    • Unless placement is pre-terminated, Bank of Commerce will handle the documentary stamp taxes.

    Premium Savings Account Money Market

    This unique time deposit scheme offers minimum tenure from 1-day, higher interest rates and easy accessibility to records of savings.

    Features:
    • The minimum required funds to be placed in this time deposit scheme is PHP 1,000,000.
    • Unique term option of overnight deposit maturity to less than 30 days tenure.
    • Interest is credited upon maturity.
    • This deposit comes with an on-hand passbook.
    • Unless placement is pre-terminated, Bank of Commerce will handle the documentary stamp taxes.

    US Dollar or Euro Time Deposit

    US Dollar or Euro funds can be placed in a time deposit from as short as 30 days up to a year.

    Features:
    • The minimum required funds to be placed in this time deposit scheme is USD 1,000 or EUR 1,000.
    • The funds can be deposited for a term of 30 days up to less than a year and in case of Euro the term is 30 days only.
    • Interest is credited upon maturity.
    • This time deposit scheme is provided to the customer with Certificate of Time Deposit.

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