Time Deposit - An Investment Scheme with Assured Returns
Time deposit is a secured financial instrument in which a fixed amount of money is retained by the bank for a definite term. Upon maturity (end of term) you are entitled to receive the principal amount along with interest charges. Time deposit is also known by synonyms such as term deposit or certificate of deposit. Term deposit is one of the most popular and convenient investment products available with banks today.
The interest rates are considerably high when compared to parking the money in savings account. If you’ve surplus money sitting idle, time deposit is a sprinter that helps you to earn interest and also keeps the principal investment vaulted safely. This aspect of term deposit meets the aspirations of both traditional investors and risk takers. Robinsons bank offers time deposits in Peso, USD, Euro and JPY.
About Robinsons Bank
Robinsons bank is a part of JG Summit Holdings Inc., a large business house which operates in various industry domains such as food manufacturing, hotels, real estate, petrochemicals and telecommunications. Founded in 1997, Robinsons started off as a savings bank and today is an all-inclusive banking & financial institution providing deposits, loan products and banking accounts to length and breadth of the country.
A key growth strategy for Robinsons has been acquisition. This fastest growing bank in Philippines acquired ABN Amro Savings Bank (Philippines) followed by The Royal Bank of Scotland (Philippines) in 2010. It continued the success story by winning Legazpi Savings Bank, which was acquired in Dec 2012. The bank leverages technology to provide cutting edge banking products and services which aim to promote and secure the financial growth of its customers.
Robinsons Bank Time Deposit
Robinsons lets you open and operate time deposit accounts in various currencies at ease. Beside the peso time deposit certificates, the bank also allows its customers to conveniently open term deposit accounts in USD, Euros and Japanese Yen. With a term deposit account with Robinsons, earn higher interest rates for locking your deposit for the certified term. Larger the amount and tenor, better are your chances of securing good amount of interest charges.Certificate of Time Deposit (Peso)
With a peso linked time deposit, you can invest as low as PHP 1,000 and go up to a maximum of P500,000. The rate of interest is determined by the prevailing market rate. Since this is subject to change, do check with the bank representatives to get details of the current rates before depositing. This product is a pure play term deposit which implies that you receive interest charges upon maturity only. Documentary stamps and other terms are relaxed for customers investing for 5 years and above.Foreign Currency Certificate of Time Deposit
Robinsons is one of the few banks in the market that lets you invest in foreign currencies along with Peso. If you have monies in USD, Euro and JPY, do consider this bank for opening a time deposit account. Major terms and conditions are standard. The minimum investment for specific currencies are given below.
Features & Benefits of Robinsons Bank Time Deposit
- Flexible currency options: Invest in multiple currencies like Peso, USD, Euro & Japanese Yen. You don’t have to worry about converting your money to the local currency before investing.
- Market linked interest rates: Robinsons offers terms deposits at attractive interest rates that are linked to the prevailing market rates which is a plus point as you get the best returns on your investments.
- Documentary stamps waiver: If the placement of deposit money is 5 years and above, stamp charges are waived. Staying put for a long term also implies higher returns for your deposit amount.
- Flexible term aids short and long term goals: If you have an important life event planned in the next couple of years or even in a short period for that matter that requires financial impetus, flexible tenor options from Robinsons bank assists in achieving the goals.
Walk into the nearest branch to learn more about documentation and interest rates. You can also call the customer service call center to get details.
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