Time Deposit Rates
Foreign Exchange / Time Deposit New Fund Offers: Enjoy +1% p.a. Bonus rate on top of prevailing rates by converting and placing time deposit with HKD30,000 (or equivalent) or above with New Funds. (applicable to designated currency) Remark:The above interest rates. For USD Time Deposit, minimum placement is USD 1,000.00. How is interest computed? Interest is computed as follows: Principal x gross rate x (1-tax rate) x actual no. What is the withholding tax for Peso and Dollar Time Deposits? Withholding tax for PHP and USD Time Deposits are 20% and 7.5%. Step Rate CD Rates $2,500 minimum opening deposit A Step Rate CD (Time Account) is a 24-month CD featuring guaranteed interest rate increases and one penalty-free withdrawal every six months. A time deposit, or a certificate of time deposit, is an interest-bearing bank deposit that has a specified date of maturity. It is a bank account type option for customers who would like to deposit available.
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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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
- Interest rate: 0.88%
- Investment returns: Php700
- Estimated payout: Php100,700
Time Deposit Rates Metrobank
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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Personal Banking Customers who have taken up Integrated Account Service and place a 3-month or 6-month 'New Fund Preferential Time Deposit' with 'Eligible New Fund Balance'* of HKD10,000 / USD1,000 / RMB10,000 or above via internet banking or mobile banking, can enjoy preferential annual interest rates as follows:
Wealth Management customers :
| Currency | 3-month | 6-month | Application Channel |
|---|---|---|---|
| HKD | 0.20% | 0.25% | Internet Banking, Mobile Banking |
| USD | 0.10% | 0.10% | |
| RMB | 1.50% | 1.55% |
Enrich Banking customers :
| Currency | 3-month | 6-month | Application Channel |
|---|---|---|---|
| HKD | 0.15% | 0.20% | Internet Banking, Mobile Banking |
| USD | 0.05% | 0.05% | |
| RMB | 1.45% | 1.50% |
i-Free Banking customers :
Time Deposit Rates Metrobank
| Currency | 3-month | 6-month | Application Channel |
|---|---|---|---|
| HKD | 0.10% | 0.15% | Internet Banking, Mobile Banking |
| USD | 0.05% | 0.05% | |
| RMB | 1.40% | 1.45% |
Above preferential time deposit interest rate is quoted based on the time deposit interest rates of published on 6 March 2021 and is for reference only, customer can also contact BOCHK staff for updated preferential time deposit rate.
*“Eligible New Fund Balance” refers to the incremental balance when comparing the latest deposit balance with the balance of the same currency as of last month end, after deduction of the sum of principle amount of the same currency which has been entitled to all new fund offers of time deposit in current month. Time deposit new fund offer is applicable to sole name account only. The balance of all accounts, including Savings Accounts, Current Accounts and Time Deposits of the same currency of Sole name account will be counted towards the calculation of 'Eligible New Fund Balance'. In case of any dispute on the definition of 'Eligible New Fund Balance', the decision of BOCHK shall be final.
Example：
Latest deposit balance of a currency (A) | $200,000 |
Deposit balance of the same currency as of last month end (B) | $50,000 |
Incremental balance (A-B) | $150,000 |
Sum of principal amount of the same currency which has been entitled to new fund offer of time deposit in current month ( C ) | $30,000 |
Eligible new fund balance (A-B-C) | $120,000 |
Personal Banking Customers who have taken up Integrated Account Service and place a 1-month, 3-month, 6-month or 12-month Exisitng Fund Preferential Time Deposit of HKD10,000 / USD1,000 / RMB10,000 or above via internet banking or mobile banking, can enjoy preferential annual interest rates as follows:
Wealth Management customers :
| Currency | 1-month | 3-month | 6-month | 12-month | Application Channel |
|---|---|---|---|---|---|
| HKD | up to 0.05% | up to 0.15% | up to 0.20% | up to 0.35% | Internet Banking, Mobile Banking |
| USD | up to 0.01% | up to 0.05% | up to 0.05% | up to 0.10% | |
| RMB | up to 1.00% | up to 1.40% | up to 1.50% | up to 1.55% |
Enrich Banking customers :
| Currency | 1-month | 3-month | 6-month | 12-month | Application Channel |
|---|---|---|---|---|---|
| HKD | up to 0.05% | up to 0.10% | up to 0.15% | up to 0.30% | Internet Banking, Mobile Banking |
| USD | up to 0.01% | up to 0.05% | up to 0.05% | up to 0.10% | |
| RMB | up to 0.95% | up to 1.35% | up to 1.45% | up to 1.50% |
i-Free Banking customers :
Time Deposit Rates Hong Kong
| Currency | 1-month | 3-month | 6-month | 12-month | Application Channel |
|---|---|---|---|---|---|
| HKD | up to 0.05% | up to 0.05% | up to 0.10% | up to 0.25% | Internet Banking, Mobile Banking |
| USD | up to 0.01% | up to 0.05% | up to 0.05% | up to 0.10% | |
| RMB | up to 0.90% | up to 1.30% | up to 1.40% | up to 1.45% |
Above preferential time deposit interest rate is quoted based on the time deposit interest rates of published on 6 March 2021 and is for reference only, customer can also contact BOCHK staff for updated preferential time deposit rate.
Personal Banking Customers who have taken up Integrated Account Service place a time deposit of original currency 1,000 (AUD, NZD, GBP, CAD) / original currency 10,000 (RMB) or above by conversion of funds enjoying the preferential annual interest rates as follows:
| Deposit Tenor | Preferential Interest Rate (p.a.) | Application Channel | |||||
|---|---|---|---|---|---|---|---|
| AUD | NZD | GBP | CAD | RMB | USD | ||
| 7-day | 7.80% | 7.80% | 8.80% | 8.80% | 6.80% | 5.00% | Internet Banking, Mobile Banking |
| 1-month | 2.00% | 2.00% | 2.00% | 2.30% | 3.50% | 1.00% | |
Set up Preferential RMB & FX time deposit now via Internet Banking or Mobile Banking with just a few clicks:
Login to Internet Banking > Banking > Time Deposit > Deposit Placing > Select placement of Time Deposit (Preferential RMB and FX Time Deposit)
(Both FX exchange and deposit placement should be conducted at the same time)
Personal Banking Customers who have taken up Integrated Account Service place a time deposit of original currency $1,000 or above by conversion of funds enjoying the preferential annual interest rates as follows:
| Number of actual deposit days | Corresponding deposit period | Preferential Interest Rate (p.a.) | Application Channel | |||
|---|---|---|---|---|---|---|
| AUD | NZD | CAD | GBP | |||
| 1 day - less than 7 day | 1-day | 0.01% | 0.01% | 0.01% | 0.01% | Internet Banking, Mobile Banking |
| 7 days - less than 1 month | 7-day | 0.02% | 0.02% | 0.02% | 0.02% | |
| 1 month - less than 3 months | 1-month | 0.05% | 0.05% | 0.03% | 0.03% | |
| Until the maturity | 3-month | 0.20% | 0.20% | 0.10% | 0.10% | |
Time Deposit Rates Wells Fargo
Set up FX time deposit now via Internet Banking or Mobile Banking with just a few clicks:
Login to Internet Banking > Banking > Time Deposit > Deposit Placing > Select placement of Time Deposit (Foreign Currencies Flexi Time Deposit)
Personal Banking Customers who have taken up Integrated Account Service placing a 7-day or 1-month Preferential HKD Time Deposit Offerwith conversion of AUD, NZD, GBP or CAD funds, enjoying the preferential annual interest rates as follows:
| Deposit Tenor | Preferential Interest Rate (p.a.) | Application Channel |
|---|---|---|
| HKD | ||
| 7-day | 4.00% | Branch, Internet, Mobile, Manned Phone Banking Services |
| 1-month | 1.00% |
Set up Preferential HKD time deposit now via Internet Banking or Mobile Banking with just a few clicks:
Login to Internet Banking > Banking > Time Deposit > Deposit Placing > Select placement of Time Deposit (Preferential HKD Time Deposit)
(Both HKD exchange and deposit placement should be conducted at the same time)
Terms of the promotion offers:
- The above offers are only applicable to personal banking customers of Bank of China (Hong Kong) Limited ('BOCHK') who have taken up Wealth Management, Enrich Banking or i-Free Banking service (“Integrated Account Service“).
- Time deposits should be set-up on banking business days of Hong Kong. Deposits may not be uplifted before maturity. For a call deposit, maturity refers to the expiry of your notice of the agreed period to BOCHK. BOCHK may permit an early uplift subject to payment of BOCHK losses, expenses and charges (in the amounts determined by BOCHK). No interest will be payable on the deposit if an early uplift is permitted. Interest on a deposit is only payable at maturity. A deposit, which would otherwise mature on a non-business day (like Saturday, Sunday or public holiday), matures on next business day.
- Manned Phone Banking Services are only applicable to selected customers with designated transaction account. For details, please contact our branch staff.
- The above products, services and offers are subject to the relevant terms. For details, please refer to the relevant promotion materials or contact the staff of BOCHK.
- The preferential time deposit interest rate in this promotion material is quoted based on the interest rates of Hong Kong Dollars, RMB and Foreign Currencies time deposits published on 6 March 2021 by BOCHK and is for reference only. The preferential interest rate is a one-off privilege for each time deposit and the subsequent renewal rates of time deposits will be subject to the quotes by BOCHK from time to time.
- BOCHK reserves the right to amend, suspend or terminate the above products, services and offers, and to amend the relevant terms at any time at its sole discretion without prior notice.
- Offer is limited and available while quota lasts.
- In case of any dispute, the decision of BOCHK shall be final.
- Should there be any discrepancy between the English and Chinese versions of this promotion material, the Chinese version shall prevail.
Risk Disclosure:
Time Deposits In The Philippines
- RMB investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies.
- RMB is currently not fully freely convertible. Individual customers can be offered CNH rate to conduct conversion of RMB through bank accounts and may occasionally not be able to do so fully or immediately, for which it is subject to the RMB position of the banks and their commercial decisions at that moment. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance.
- Foreign currency investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of foreign currency may result in losses in the event that customer converts the foreign currency into Hong Kong dollar or other foreign currencies.