• CTBC Bank Time Deposit

    CTBC Bank Time Deposit

    CTBC Time Deposit – An Overview

    Time deposits are a great way to save money and earn interest. If you’re looking for a secured, fixed return investment product and have surplus money parked in your bank account, a time deposit does a fair job. Time deposits are also known as term deposit or certificate of deposit. In time deposits, a fixed amount of money (decided by you) is held by the bank for a specific period of time at a fixed rate of interest.

    Upon maturity, you will receive the principal amount along with compounded interest. The interest rates are substantially higher than a regular savings account. Chinatrust Commercial Bank Time Deposit plans offer competitive interest rates for term deposits and are easy to sign up for.

    About CTBC Bank

    CTBC is a leading financial institution in Asia Pacific. CTBC Bank (Philippines) Corp, is a subsidiary of Chinatrust Commercial Bank Corp. of Taiwan. Established in 1995, CTBC was one of the first foreign institutions to enter Philippines when it opened up to entry of foreign banks. For close to 20 years, CTBC has been at the forefront of providing efficient banking services across the island nation. Chinatrust extends an array of banking services and financial products catering to the needs of a wide customer base spread across the country.

    In personal banking sector, CTBC offers products and services such as investments, loans, deposits & cash management. As briefed earlier in this article, time deposits are one of the most preferred financial investment products. CTBC offers Peso Time Deposit, a term deposit product which gives good returns at the end of maturity period.

    A time deposit from CTBC bank gives you peace of mind. It not only secures your money for a fixed term, but also dispenses handsome interest upon maturity.

    Benefits of Term Deposit with CTBC Bank

    • Investing in time deposit earns higher interest over a period of time when compared to parking money in a savings account for the same duration.
    • Time deposits with CTBC bank encourages you to save more and invest for a fixed placement period which remains locked during the term and keeps your money sheltered for a long duration.
    • Term deposits aids short term financial goals and helps in saving for planned event in the future.
    • No risk is associated with a time deposit scheme as the sum benefit is determined before hand and disbursed upon maturity.

    Time Deposit Products from CTBC Bank

    1. Peso Time Deposit

      Also known as term or certificate of time deposit, this instrument lets you hold deposits in Pesos. Offered at high interest rates, it comes with flexible benefits such as option to choose the term you want to stay invested for.

      Highlights

      • The minimum deposit amount required to open the account is just P1,000. This holds good for both corporations and individuals.
      • The minimum placement period is 30 days.
      • Slab wise rates are applicable for placement periods of 60, 90, 180 and 360-day placements.
    2. Dollar Time Deposit

      A deposit instrument dedicated for investments in US Dollar and comes with flexible placement term options. The interest earnings are considerably higher for respective placement periods since the rate offered is substantially higher.

      Highlights

      • The depositor can start with a minimum deposit of US$1,000.
      • The minimum placement period starts at just 30 days.
      • Slab wise rates are applicable for placement periods of 60, 90, 180 and 360-day placements.
    3. Dollar Innovate Five-Year Time Deposit

      A fixed term deposit option for five years and earns interest on a monthly basis, to be credited to the linked bank account.

      Highlights

      • The minimum balance required in the deposit account under this scheme is US$10,000.
      • Flexible increments can be made in tune of US$1,000 thereafter.
      • Comes with a lock in term of 5 years.

    Documentation Requirements

    Type of Depositor Requirements
    Individuals
    • Valid ID cards (2 nos)
    • AOF (Account Opening Form)
    • Signature cards
    Single Proprietorship
    • Account opening form duly filled and signed
    • Two valid ID cards of proprietorship & signature cards
    • Certificate of Registration and mayor's permit.
    Partnership Firms
    • Valid ID cards of all partners (two each) & signature cards
    • Account opening form duly filled and signed
    • Articles of copartnership & certificate of registration
    • Partnership’s resolution of authorized signatories
    Corporations
    • Valid ID cards of all signatories (two each) along with signature cards
    • Account opening form duly filled and signed
    • Certificate of registration & articles of incorporation

    In addition to the above, the bank authorities may ask for additional documents based on the applicant’s background. If you’re an existing savings/checking account holder with CTBC, some or all of the documentation may be waived as your application is based on existing information in the bank’s database records.

    Interest Rates for CTBC Time Deposit

    The interest earnings depends on two main factors, placement amount and term. The points below provides primary insights into the interest rates.

    • Regular Peso denominated deposits for the minimum placement amount starts at 0.300% for the bottommost term.
    • Dollar denominated deposit option starts at 0.400% for the same conditions.
    • Five year term deposit (USD) will fetch interest charges at the rate of 1% for minimum placement.
    Check Out the Interest Rates for CTBC Bank Time Deposit

    The interest rates are subject to change without notice and depends on various factors such as market conditions & base rates of banks. Make sure to check on the official website or visit the nearest branch for inquiry on current rates offered.

    Other Products from CTBC Bank

  • Contact Us on Mail
    Facebook
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.