Investments, as we all know, are a very tricky business. There is no shortage of choice when it comes to investing. Banks and financial institutions have plenty to offer us to grow our capital. However, every investment is different from the next, especially on the basis of the risk it involves and the returns it assures to provide. Considering that, your investment portfolio must combine a healthy mix of a certain safe (offering not so high returns) and certain risky (likely to yield high returns) investments. This can not only help you maximize your growth but also your savings. Considering some relatively risk free or low risk investments, the first one which comes to mind is none other than the trusty Term Deposit. This long-term, fixed rate investment helps lock away excess capital over a pre-determined duration which attracts interest, also applicable at a fixed rate.
DBP Time Deposit
Since it’s inception in 1935, Development Bank of the Philippines, also known as DBP, has come a long way in providing diversified banking solutions to the citizens of the Philippines. DBP is one of the pioneering development financial institutions in Philippines which has placed focus on the progress and development of communities, micro, small and medium enterprises. In addition to its banking functions, DBP has also forayed into other fields like logistics, infrastructure development and environmental programs. As one of the leading banks in Philippines, DBP caters to the banking and financial needs of a wide spectrum of customers. As a part of its portfolio, the bank offers some well-appointed term deposit products, which are some of the most sought after by customers.
Why Choose DBP Time Deposit
There are multiple reasons which make DBP Time Deposits some of the most popular investment options among filipino citizens. Here are just a few of those:
- DBP offers a range of term deposit products, which have been designed keeping the financial requirements of a wide spectrum of customers.
- These term deposits offer some of the most competitive interest rates to customers, thus promoting savings.
- There are 6 different types of term deposit, each offering a different lock-in period. You can choose one depending on your needs and convenience.
- Some of the term deposits also come with the unique option of allowing customers to invest in Philippine Peso or US Dollar.
DBP Time Deposit Products
Save more with the Special Savings Time Deposit by DBP. This time deposit allows you to earn a higher interest rate as compared to a savings account and features a placement tenure ranging from a minimum of 30 days to a maximum of 365 days. The minimum amount for which you can open a Special Savings Deposit account is fixed at PHP10,000. As an evidence of having made the deposit, the customer is provided with a passbook.
If you wish to make a time deposit for a very short period, then the DBP Option Savings time deposit is the choice for you. This is a short term deposit which can me made for a duration of as low as 15 to a maximum of 29 days. The bank will provide you with a passbook as proof of you having made the deposit. Additionally, this term deposit also yields high rates of interest and is a great option for a short term investment.
Regular Time Deposit
The DBP Regular Time Deposit is one of the many unique time deposit products offered by the bank. The specialty of this deposit is that it allows customers to invest not only in Pesos but also in USD or American Dollars. The Regular Time Deposit can be made for a duration ranging between a minimum of 30 days to a maximum of 365 days and provides handsome rates of interest. The minimum placement amount required to open this tie deposit is PHP 1,000 or USD 1,000. The bank will provide you with a Certificate of Time Deposit as evidence of having made the deposit.
Special Investor's Resident Visa (SIRV) Time Deposit
Foreigners who are residing in Philippines and wish to invest in enterprises and firms across the country can easily do so with the help of the Special Investor’s Resident Visa (SIRV) Time Deposit. This deposit can be made for a duration of a minimum of 30 days , up to a maximum duration of 180 days, yielding attractive rates of interest. In order to make this deposit, customers must put in a minimum placement amount (in Peso) which is equivalent to USD 75,000. This investment must be as per the regulations of the Board of Investments regulations and will be evidenced by a Certificate of Time Deposit which will be provided to the depositor.
High Earner Account (Peso and US Dollar)
If you wish to invest in a time deposit of a slightly longer duration, the High Earner Time Deposit is the option for you. This is a dual currency time deposit which allows you to invest not only in Philippine Pesos but also American Dollars. One can open this time deposit for a duration of 12, 18 or 24 months. The minimum placement amount required to open this time deposit is P1 million or USD 20,000. The bank will provide you with a Certificate of Time Deposit as evidence of having made the deposit.
Peso Time Deposit
For those who wish to make a short term deposit in Pesos, the Peso Time Deposit is the fitting product. This time deposit can be opened for a minimum duration of 30 days and up to a maximum duration of 360 days. The interest rates applicable on this time deposit are relatively higher than that provided by a Savings account, allowing you greater capital growth. The minimum placement amount required to make this deposit is P5,000 and the depositor is provided with a certificate as evidence of having made the deposit.
Wisdom Time Deposit
Another great option for time deposits by DBP is the Wisdom Time deposit. This is a dual currency time deposit which can be done in American Dollars and Philippine Peso as well. The minimum placement amount to make this deposit is P50,000 or USD 1,000. Customers can invest the capital for a minimum duration of 180 days and up to a maximum period of 365 days. The bank will provide you with a Certificate of Time Deposit as evidence of having made the deposit.
Yen Denominated Time Deposit
Another unique time deposit product offered by DBP is the Yen Denominated Time Deposit, which is allows customers to make a time deposit in Japanese Yen. The minimum placement amount to make this deposit is fixed at JPY 100,000.
|Check out the Interest Rates for DBP Time Deposit|
FAQ's about DBP TD
Why should customers choose the Time Deposit by the Development Bank of the Philippines?
Time Deposits are one of the most sought after options for Filipinos to invest in. It is safe, provides assured returns and is hassle free. Time deposit by the Development Bank of Philippines comes with numerous benefits such as economical rates of interest, numerous kinds of time deposit schemes for every economic requirement and options to invest in both peso and dollars.
What are the Time deposit Products offered by the Development Bank of the Philippines?
The different time deposit products offered are Special Savings Time Deposit, Option Savings Time Deposit, Regular Time Deposit, Special Investor’s Resident Visa, High Earner Account Time Deposit, Peso Time Deposit, Wisdom Time Deposit and Yen Denominated Time Deposit.
What is the Special Savings Time Deposit by the Development Bank of the Philippines?
Customers can opt for the Special Savings Time Deposit in order to earn greater rates of interest as compared to that of a savings account and a placement tenure ranging from 30 to 365 days is available. The minimum amount that customers can deposit as part of the Special Savings Time Deposit is P10,000. A passbook is also provided after depositing the amount.
What is the High Earner Time Deposit by the Development Bank of the Philippines?
For customers who wish to invest in a time deposit scheme of a longer duration, the High Earner Time Deposit option by the Development Bank of the Philippines is perfect. This scheme again accepts payments in both peso and dollars and a duration 12 months, 18 months or 24 months can be chosen. The minimum amount that should be deposited is $20,000 or P1 million. After the deposit is made, a Certificate of Time deposit will be provided.
What are the features of the Peso Time Deposit by the Development Bank of the Philippines?
Sometimes, customers would prefer making a deposit for a shorter duration and these customers can opt for the Peso Time Deposit which can be opened for a duration of 30 to 360 days. However, it should be noted that the rate of interest charged on this option is higher as compared to that of a savings account therefore ensuring greater growth of capital. The minimum amount that should be deposited is P5000 and certificate will be provided after the deposit is made.