Thursday, November 6, 2014

How to Open a BDO Time Deposit Account?

I encouraged some friends to open a time deposit account as their savings which it has a higher rate than a regular savings account. If you have enough money but you are still undecided where and what to invest, keeping it in a time deposit account is safer. You are not tempted to withdraw money anytime and spend it wherever you like.

Requirements:

  • 2 valid ID's (bring photocopy of the two ID's)
  • 1x1 picture ID
  • personal appearance
  • amount of money you wish to put on a time deposit account
In peso time deposit account, you can start at P1K. You can choose any of the maturity terms: 30, 60, 90 days or even 5 years.

Check out the rates here at BDO: Peso Time Deposit.

For questions or share your experience about BDO Time Deposit Account, just comment below.

Disclaimer: I am not affiliated with BDO.

3 comments:

  1. I was always curious about Time Deposits. I do have two questions:
    1) There are ranges in days. If you deposit 1000 PHP with a maturity of 30days, you'll earn 2.50PHP with the interest rate that they have (0.250%). (Did I calculate that right?) So if the maturity date is after 60 days, does that mean that for keeping your money with them for a total of 60 days, your 1000 PHP will also earn only 2.50php for the period that you keep it with them, or is it on a per month basis?

    2) Once your account matures, can you put it in a new time deposit account? Kind of like refreshing the maturity date? Is that possible?

    ReplyDelete
  2. I am here in Sweden right now. I ant to open a time deposit account.but I don't want to entrust that application or account to any member of my family.is there any exception for ofw to open time deposit? Or only a joint account to open a time deposit while I'm here.?

    ReplyDelete
  3. how can i open savings account while im here in sweden any tips u can give?

    ReplyDelete

 

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