RCBC Savings Bank Time Deposit
When it comes to money and investments, everyone likes to exercise utmost caution. However, there are different types of investments now available in the market, of which some are extremely safe but some which are potentially risky. An ideal investment portfolio must strike a balance between safe and risky investments, to maximize capital growth and savings. Speaking of safe investments, beside real estate, time deposits have been one of the most trusted and popular forms of long-term investments for decades.
A Time Deposit is a form of deposit characterized by a fixed rate of interest and a fixed term period. A certain sum of money is put into the time deposit account which then accumulates interest over a fixed period of time. With high rates of interest and longer investment periods, time deposits also give customers the option of withdrawing he invested amount of re-investing it for another term. However, unlike other deposit accounts where customers are free to withdrawn the money any time, a time deposit does not allow customers to withdraw the invested amount before the tenure is over. Speaking of the advantages, time deposits are definitely one of the most financially stable forms of investment, which yield assured returns.
Reflecting these very benefits, the RCBC Savings Bank brings its very own time deposit schemes specially designed for Filipino citizens – the RCBC Savings Bank Peso Time Deposit and the RCBC Savings Bank FCDU Time Deposit.
About RCBC Savings Bank
The RCBC Savings Bank is the consumer banking subsidiary of Philippines leading Rizal Commercial Banking Corporation (RCBC). Having laid it’s foundation in 1996 with a one branch office, the organization has now expanded operations and currently boasts of a nation-wide network with 145 branches and 343 ATMs. Serving a diverse customer base, the bank currently offers a range of financial services which include deposits (savings, checking, time and foreign currency deposit unit), cash cards, credit cards, investments, cash management and business loans.
RCBC Savings Bank Peso Time Deposits
Enjoy over the counter access to your funds, round the clock, with the Peso Time Deposit scheme. Customers can choose between the regular scheme which requires a minimum deposit amount of P5,000 and the special scheme which requires a minimum deposit of P100,000. Both the schemes have a minimum lock-in period of 30 days and come with a tiered interest rate plan where interest rate is earned based on the corresponding tier of account balance. Customers will receive a Certificate of Deposit as proof of deposit and can access their funds via RCBC AccessOne over the internet or on their mobile.
RCBC Savings Bank FCDU Time Deposit
In order to extend its banking boundaries to serve a wide spectrum of clients, the RCBC Savings Bank offers the FCDU Time Deposit scheme. Under this scheme, customers who wish to invest in U.S Dollars need to invest a minimum amount of USD 1,000 which will be locked-in for a minimum period of 30 days. The interest rate on this plan is tiered which means that the deposit amounts are segmented into different tiers. Each tier has a corresponding interest rate which goes up with as the deposit amounts increase.
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