PSBank Peso Time Deposit Rates

by Gil

in PSBank

Metropolitan Bank and Trust Company or Metrobank is the second largest bank in the Philippines. It was established on September 5, 1962. Like Banco De Oro, which has subsidiary bank Equitable- PCI Bank in the past, Metrobank has also its own subsidiary bank and one of this is the Philippine Savings Bank.

Some Facts about PSBank

Philippine Savings Bank or commonly known as PSBank is one of the largest and well-known saving banks in the Philippines. It was established at Quiapo, Manila on September 26, 1960. Its first four branches was followed at Divisoria, Carriedo, Blumentritt and C. M. Recto. In 1981, the majority shares of PSBank were acquired by Metrobank. Now, the 75. 98% of ownership of this bank belongs to Metropolitan Bank and Trust Company.

PSBank competes to other big and popular savings bank in the Philippines like RCBC Savings Bank, HSBC Savings Bank, BPI Family Bank and many more. Similar to these banks, PSBank also offers products and services to their customer. They have deposit products, commercial loan, trust products and services and other products including remittances.

It has deposit products that includes regular passbook savings, ATM savings, passbook with ATM, regular checking account, premium checking, dollar savings account, Overseas Filipino savings account, Euro savings, debit MasterCard, 1-Year time deposit (TD), 2-Year TD, 3-Year Peso TD, Prime TD, Premium US Dollar TD, Euro TD, Dollar TD and Peso TD.

Important Information about PSBank Peso Time Deposit Interest Rates

One of the good products that bank offers is time deposit or certificate of deposit (CD). Time deposit is like a special savings account that puts the money on a holding period or called the maturity date. After that date, you can withdraw your money plus the earned interest less withholding tax.

The tables below show the PSBank TD for individual accounts and for corporate accounts. The product features for initial deposit or placement is minimum of PHP10,000 in 30-day, 60- day, 90- day, 1-year, 2- year and 3-year term. You will be also given a certificate of time deposit for evidence of deposit and the pre-termination charges will be included as penalty plus withholding tax and documentary stamps.

PESO TIME DEPOSIT

For Individual Accounts

Below
30 Days

30 Days

60 Days

90 Days

1 Year

2 Years

3 Years

10,000 – 24,999

0.0000%

0.5000%

0.5000%

0.5000%

N/A

N/A

N/A

25,000 – 49,999

0.0000%

0.5000%

0.5000%

0.5000%

N/A

N/A

N/A

50,000 – 99,999

0.5000%

1.2500%

1.2500%

1.2500%

1.2500%

N/A

N/A

100,000 – 499,999

1.5000%

2.7500%

2.7500%

2.7500%

2.7500%

N/A

N/A

500,000 – 999,999

2.2500%

3.0000%

3.0000%

3.0000%

3.0000%

N/A

N/A

1,000,000 – 4,999,999

2.7500%

3.5000%

3.5000%

3.5000%

3.5000%

N/A

N/A

5,000,000 – 9,999,999

0.0000%

4.0000%

4.0000%

4.0000%

4.0000%

N/A

N/A

10,000,000 and UP

0.0000%

4.0000%

4.0000%

4.0000%

4.0000%

N/A

N/A

For Corporate Accounts

Below
30 Days

30 Days

60 Days

90 Days

1 Year

2 Years

3 Years

50,000 – 99,999

0.5000%

1.2500%

1.2500%

1.2500%

1.2500%

N/A

N/A

100,000 – 499,999

1.5000%

2.7500%

2.7500%

2.7500%

2.7500%

N/A

N/A

500,000 – 999,999

2.2500%

3.0000%

3.0000%

3.0000%

3.0000%

N/A

N/A

1,000,000 – 4,999,999

2.7500%

3.5000%

3.5000%

3.5000%

3.5000%

N/A

N/A

5,000,000 – 9,999,999

0.0000%

4.0000%

4.0000%

4.0000%

4.0000%

N/A

N/A

10,000,000 and UP

0.0000%

4.0000%

4.0000%

4.0000%

4.0000%

N/A

N/A

 

The table above containing the interest rates of PSBank Peso time deposit could be change any time so if you want the latest update of the interest rate, you should visit their website.

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