• PBCOM Time Deposit

    PBCOM Time Deposit

    Philippine Bank of Communications Time Deposit

    Time deposits are one of the most secure and reliable products you can avail from a bank when it comes to increasing your savings. Reputed banks like Philippine Bank of Communications offer deposits in other currencies too. Unlike regular checking or savings or bank accounts, you do not require an ATM card or passbook for this. Rather, the PBCOM bank official will issue you a certificate of time deposit in which details such as interest rates, tenures and maturity date will be given. And as the term ends, you can either draw the entire sum or carry on to another term (of your choice). Like every one of their product, Philippine Bank of Communications Time Deposit is also eligible for an insurance cover of 5 lakh php as per the guidelines by Philippine Deposit Insurance Corporation (PDIC).

    PBCOM Time Deposit Producs

    Regular Time Deposit

    If you want to open a regular time deposit with PBCOM, the least deposit amount is 1000 php with flexible terms ranging from 1 month to 1 year. Predictably, the interest you earn increases if you deposit bigger amount. Once the formalities are done, PBCOM will issue you a certificate, which will serve as the evidence of your ownership of the account.

    Passbook Time Deposit

    To open a passbook time deposit, the minimum initial placement is 50,000 php with the same tenures as for regular time deposit. The only different between a regular and a passbook time deposit is that PBCOM will issue you a passbook as account ownership proof rather than a certificate. Details of interest credited will be entered in the passbook.

    Premium Time Deposit

    If you have 50,000 php and want to save it for a specific period while getting a fixed interest, premium time deposit is the best option for you. But the terms are limited (1, 2, or 3 years). You can enjoy a steady income as interest which will be deposited in your peso settlement account.

    Sure Earner Time Deposit

    With the minimum initial placement as 50,000 php, sure earner time deposit can earn you a mint as it accumulates non-taxable interest throughout the tenure, which is five years or more. What you earn will pile in your checking account or peso savings. Benefits will be lost if you withdraw money before due date as a hefty penalty fee will be charged.

    Dollar Time Deposit

    Dollar time deposits come with a higher interest than the aforementioned ones as the deposits are made in USDs.

    Maxi Dollar Time Deposit

    Maxi Dollar Time Deposit requires a minimum initial placement of 5000 USD for a time period of one year. The interest rate is also fixed throughout the term. Extra interest of 1 USD for every 5000 USD placed in the time deposit account will be credited to a dollar settlement account every month. Keep the certificate issued by the bank safely as this is the only proof of account ownership you will get.

    Euro Time Deposit

    Though the minimum first deposit is only 1000 Euros, this has a slightly more flexible tenures (1, 2, or 3 months) compared to Maxi Dollar Time Deposits.

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