Security Bank Time Deposit
Chinese Yuan Time Deposit. Secure Goals Plus. Call us 8887-9188. Security Bank Corporation is supervised by the Bangko Sentral ng Pilipinas (+632 8708-7701. For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landline) or email us at customercare@securitybank.com.ph. Specific to credit card inquiries, please email us at customercontact@securitybank.com.ph. Security Bank Corporation is supervised by the Bangko Sentral ng Pilipinas (+632 8708-7701 consumeraffairs@bsp.gov.ph). What are the new PHP Time Deposit (PHP TD) and USD Time Deposit (USD TD) being offered by Security Bank? These products simplify the previously offered time deposit (TD) products of the Bank by merging/consolidating them into these two time. July 24th, 2020 155 views 0 likes.
- Security Bank Time Deposit 2020
- How To Apply Time Deposit In Security Bank
- Security Bank Time Deposit Calculator
- Security Bank Time Deposit Rate
Time deposits are safe
If you are looking for an investment but afraid of the risk of losing money, then time deposit is just the right investment for you.
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Security Bank Time Deposit 2020
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What is a time deposit?
A time deposit is an interest-bearing form of bank deposit that has a specified time of maturity. It requires the customers to deposit a certain amount of money in a bank and wait for it to mature or earn interest without any withdrawals. Interest earnings are determined quarterly, monthly, or annually. Although the amount you deposited will be inaccessible until the end of your time deposit (withdrawing the amount before a specified period of time will incur certain penalties), you will still have regular cash-flow in the form of interest payments.
Leading banks
In the Philippines, there are a number of banks to consider if you want to make a time deposit. Although, for all banks it is common that your earnings are higher if you invest a higher amount for a longer period time, there are banks with relatively higher time deposit rates than others. Below is a list of the best banks to include in your bowl of choices if you ever think of putting your excess money in time deposit.
1 year (12 months) Time Deposit of Php100,000 (as of March 29, 2018)
Security Bank Peso Time Deposit
- Interest rate: 2.01%
- Investment returns: Php1,608
- Estimated payout: Php101,608
EastWest Peso Time Deposit
- Interest rate: 1.75%
- Investment returns: Php1,400
- Estimated payout: Php101,400
PBCOM Regular Time Deposit
- Interest rate: 1.50%
- Investment returns: Php1,200
- Estimated payout: Php101,200
RCBC Regular Time Deposit
- Interest rate: 1.38%
- Investment returns: Php1,100
- Estimated payout: Php101,100
Maybank Classic Time Deposit
- Interest rate: 1.25%
- Investment returns: Php1,000
- Estimated payout: Php101,000
6. Security Bank Peso Time Deposit
- Interest rate: 1.20%
- Investment returns: Php960
- Estimated payout: Php100,960
7. Chinabank Diamond Savings
- Interest rate: 1.00%
- Investment returns: Php800
- Estimated payout: Php100,800
8. UnionBank Peso Time Deposit
How To Apply Time Deposit In Security Bank
- Interest rate: 0.88%
- Investment returns: Php700
- Estimated payout: Php100,700
9. Metrobank Peso Regular Time Deposit
- Interest rate: 0.88%
- Investment returns: Php704
- Estimated payout: Php100,704
10.CTBC Peso Time Deposit
- Interest rate: 0.85%
- Investment returns: Php680
- Estimated payout: Php100,680
These are only the best choices depending on the interest rates. If you have other factors to consider, such as the proximity and accessibility of the bank to your home/workplace, then your options may vary. Furthermore, some banks sometimes offer promotions including a surge of their time deposit interest rates. You may also want to watch out for these. Of course if you want growth the stock market is still the best place where you can make your money grow over the long term.
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What Is A Time Deposit?
A time deposit, also referred to as certificates of deposit, is a fixed deposit at a bank, which you will not have access to during the agreed time period in exchange for a higher interest rate compared to a savings account. Identical to an investment account, you will be eligible to a higher premium rate as a return on your investment. Time deposit investment rates generally differ from interest range of 1.00% to 5.00%.
Time Deposit Tenure
Usually time deposit terms vary from 1, 2, 3, 6, 9 or 12 months. But with other banks, they can offer to an extent of five to six years. Regarding the maximum time deposit tenure, it would usually depend on the depositor who has full control on the tenure. In general, time deposit terms shift from 1 to 12 months. Whereas different banks can also offer to a degree of up to five to six years.
Time Deposit Fees And Charges
Are there any charges when I invest my money in a Time Deposit? Yes, there will be charges. Interest earned on time deposits is subject to a final tax of 20%. These are charged every month when an interest is earned on your account. Aside from taxes, it is also subject to stamp duties if the principal amount exceeds ₱250,000.00, in which you will be charged ₱1 for every ₱200 after it.
Time Deposit Requirements
The only requirement for a time deposit is, that you have available funds which you will not need to access over a certain amount of time. Depending on the bank, there might be a minimum amount or limitations regarding the time period. But in exchange for all the copies of identification and initial amount you will give to the bank, the bank will give you a certificate of time deposit.
Is Time Deposit Worth Investing In?
Security Bank Time Deposit Calculator
Certainly! If you are a person who is risk-averse and have very little risk appetite, time deposit is definitely for you. What makes time deposit an ideal investment option is that the returns are continuous and predictable. It is pretty straightforward and there are certainties. You just have to wait for the waiting period to be finished and you'd expect a specific earnings at the end of it.
How To Find The Best Time Deposit Interest Rate?
Security Bank Time Deposit Rate
There are various offers by banks in the Philippines. We have put all of them together and created a comparison tool, which presents you the best interest rates based on your available savings and the time period. Needless to say, the usage of our comparison tool is free of charge. Once you have found the most favorable bank you may apply for it online.