Time Deposit for Assured Returns
Time deposit is an investment option where a fixed amount of money as decided by you is held by the bank for a certain period of time. Upon maturity (end of term), the principal amount along with applied interest charges at fixed rate is disbursed by the bank. This savings instrument is also known as certificate of deposit or term deposit and is one of the most sought after medium of investment product in the market today. The deposit amount remains secured throughout the term since it is not risk based like the market linked investment products.
Time deposits offer stable returns which meet the expectations of conservative as well as risk taking investors as the appealing interest rates can give its counterparts, a run for their money. Highly recommended by investment advisors, time deposits offer higher returns when compared to parking money in a savings account. If you have surplus money in your bank account, invest in a term deposit to aid short and long term financial goals. If you’ve an important event in life scheduled in near future (like marriage), investing in term deposit provides the required monetary backing.
About Equicom Savings Bank
Equicom is a mid-range banking and financial services institution headquartered in Makati central business district with branches in Luzon, Visayas and Mindanao. Founded in Philippines, EqB is a part of the Equicom group, a business conglomerate with interests in technology, healthcare and financial services. The bank earnestly believes in delivering excellence by leveraging principles of customer service.
The bank offers complete range of banking and financial services in Philippines like savings account and deposit services, prepaid, debit & credit cards and cash management services. Known for its strong ATM network, EqB harnesses technology to provide advanced online and offline services to its nationwide customer base. The core of deposit products portfolio consists of Regular & 5 year fixed period time deposit options at alluring interest rates and terms.
Equicom Savings Bank Time DepositRegular Time Deposit
A flexible term deposit product that helps in maximizing savings at attractive interest rates. One can start with a minimum investment of just Php10,000. The principal amount along with applicable interest charges is made available for withdrawal upon maturity. Customers who wish to stay put for a longer time can choose the option to auto roll over for continuity after maturity.5-Year Time Deposit
In this 5 year lock in deposit scheme, the minimum investment amount is Php10,000. General terms and conditions remain the same as regular time deposit option. The most pleasing part of this scheme is monthly interest credits that go directly into the linked savings account. The principal though, remains locked for 5 years and provides tax benefit if there is no pre termination.
Features & Benefits of Equicom Savings Bank Time Deposit
- Flexible terms
- Tax benefits
- Monthly interest credits
In the regular fixed deposit scheme from Equicom, stay invested for a term of your choice. Short or long term, attractive interest rates are guaranteed.
With the 5 year lock in deposit scheme, you can be eligible for tax benefits under the relevant section of tax laws. Claim exemption for the deposit amount.
With the 5 year lock in time deposit scheme, the bank remits monthly interest charges while the principal remains safely vaulted. This can be a pleasing source of income for sundry expenses.
Other Products from Equicom Savings Bank