RCBC Time Deposit Interest Rates

by Gil on January 10, 2012

Many people know that time deposit or certificate of deposit is one of the safest investments available in the market today. Almost all banks in the Philippines are offering time deposit (TD) investment for all people who want to put their money in a safer investment.

Rizal Commercial Banking Corporation (RCBC) is one of the banks in the country that provides time deposit investments in peso deposit accounts and foreign currency deposit unit. Aside from TD, RCBC has other banking products and services for its clients like savings account,  stock investments, housing loans, checking account, credit card through Bankard, car loan, investments and many more.

RCBC Time Deposit Interest Rates

In this post, you will know the interest rate, term period and the minimum investment required in RCBC time deposit. It is recommended to open a savings account before investing in time deposit so that you can have an account wherein you can use to deposit your TD withdrawals. If you want to know the latest update on the interest rate, you should visit the website of RCBC.

PESO TIME DEPOSIT
Regular Special
Minimum Balance: P5,000 P100,000
Minimum Term: 30 days 30 days
Interest Rate: tiered tiered
Transaction Record: Certificate of Deposit

 

FCDU TIME DEPOSIT
US Dollar Euro Canadian Dollar Australian Dollar
Minimum Balance: USD1,000 EUR1,000 CAD25,000 AUD25,000
Minimum Term: 30 days 30 days 30 days 30 days
Interest Rate: tiered tiered tiered tiered
Japanese Yen British Pounds Swiss Francs
Minimum Balance: JPY100,000 GBP10,000 CHF25,000
Minimum Term: 30 days 30 days 30 days
Interest Rate: tiered tiered tiered

*FCDU – Foreign currency deposit unit

What Tiered Means?

The interest rate is determined on the basis of the number of days from and including the date of acceptance of the time deposit until the date of withdrawal. The interest rate given by RCBC on time deposit is tiered which means that a different rate may apply according on the balance of the deposit and the frequency of interest payment selected.

Therefore, interest rate is not fixed, it varies depending on the factors mentioned above. The daily interest rate is the rate specified divided by 365. Interest on time deposit can be paid monthly, quarterly, half-yearly or yearly and can be credited automatically to your nominated savings account.

Investing in time deposit may not give you a high return that beats inflation rate but you are guaranteed that you will not lose your money in case of bankruptcy of the bank you are dealing with. If you want to have investments that beats inflation in the Philippines, you should invests in mutual fund, UITF or stocks.

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