Time Deposits

[Anaheim]

Mine is only 3.24 % P.A. which BDO SM Sucat branch, have time deposited my savings for 180 days

 

Saan po yung 4-5% P.A. ?

[Guest lustfortravel]

Mine is only 3.24 % P.A. which BDO SM Sucat branch, have time deposited my savings for 180 days

 

Saan po yung 4-5% P.A. ?

 

sorry, i was referring to SDAs actually which will give you a net rate of 4.4- 4.6% net p.a. ( or depending how much your bank is selling it for) for a 30 day placement. time deposits normally have lower rates. how much is your investment? i think BDO and some other banks accept SDAs for as low as P100k.

Edited August 6, 2008 by lustfortravel

[scooby91]

sorry, i was referring to SDAs actually which will give you a net rate of 4.4- 4.6% net p.a. ( or depending how much your bank is selling it for) for a 30 day placement. time deposits normally have lower rates. how much is your investment? i think BDO and some other banks accept SDAs for as low as P100k.

 

Headline inflation hit 12% already in July... di pa din ba sumusunod interest rates of local banks?

I think the 91d T-bill is already in the 6% level (but then again this is gross). .. frakin taxes.

ah well...

[wallace]

What bank offers the highest monthly time deposit ineterest?

[LYCHEE]

BDO now requires a P1million initial placement for SDA

[Dr_PepPeR]

BDO now requires a P1million initial placement for SDA

 

They probably felt the minimum of P100K was too tedious for a 14 or 30 day SDA tenor. Some banks still accept a minimum of P500K.

[Jay Tee]

i still have a td in psbank. i opened it dec 04, maturity is next year. its earning around 370 php per month.

 

now they're offering 6% only compared to the 9% i had that year

[LYCHEE]

They probably felt the minimum of P100K was too tedious for a 14 or 30 day SDA tenor. Some banks still accept a minimum of P500K.

 

would u know which banks, sir? just checked with allied...they are requiring P2mil initial dep.

[mister_mahilig]

with measly rates likes these, better to just spend it on something....damn banks!

[kamandag7]

You're right, CTFs and UITFs are basically the same animal in pooling of funds concept, except that UITFs are now marked to market, investments are restricted to liquid securities and a third party custodian is required, all geared to prevent abuses by the fund manager. Mutual Funds, while having the same concept, issue shares instead of units and are regulated by the Securties and Exchange Commission whereas UITFs are regulated by the Central Bank. In general, I think Mutual Funds are more aggressive in terms of investing to make up for the up-front fees they levy on their subscribers.

 

 

 

 

 

 

The Legacy Group which owns RBOP as well as several other rural banks have left a bad taste in the mouth for many large commercial banks. The links provided above may be worth reading if you want to see some of the issues they have.

 

 

 

Some banks require a minimum of P1 Million in order to invest in SDA, although I have heard that BDO accepts P100,000.

i heard the legacy has a problem right now. they can't pay out the inerest right now.... my friend in cdo told me last week :

[Guest lustfortravel]

i heard the legacy has a problem right now. they can't pay out the inerest right now.... my friend in cdo told me last week :

 

it would be interesting to see how this thing goes in the next few weeks. i heard the same thing in other parts of the country. frankly, it seemed like a house of cards just waiting to collapse . it looks like investors are demanding return of their principal - which would affect their already tight cash flow.

 

good luck to them.

[dexterhaba]

JUST PLACED SDA IN BDO,,, 5.6 % ANG RATE,, CAN ANYONE EXPLAIN HOW SDA WORKS AND HOW COME THE INTEREST RATE IS HIGH,, ANYWAY THE BANK TOLD ME ITS SECURE AS WELL. CALLING EXPERTS....

[Dr_PepPeR]

JUST PLACED SDA IN BDO,,, 5.6 % ANG RATE,, CAN ANYONE EXPLAIN HOW SDA WORKS AND HOW COME THE INTEREST RATE IS HIGH,, ANYWAY THE BANK TOLD ME ITS SECURE AS WELL. CALLING EXPERTS....

 

SDA stands for Special Deposit Account offered by the Bangko Sentral ng Pilipinas to Banks who in turn offer it to their Treasury or Trust clients. The tenors are in 14 days and 30 days only. This facility was intended to siphon off excess liquidity from the market by offering relatively higher rates so as to be attractive to investors. In your case you are probably a branch client that booked you under a trust arrangement with BDO. BDO trust then invested your funds (together with their other trust clients) with the Bangko Sentral's SDA. In fact, the interest rate of the SDA is 6 percent something but you only get 5 percent something because of the withholding tax and trust fees. You can consider it a secure investment because, well, it's a deposit with the Bangko Sentral.

[Dr_PepPeR]

would u know which banks, sir? just checked with allied...they are requiring P2mil initial dep.

 

Try the other smaller banks sir, like Philippine Veterans Bank, Chinatrust, GE Moneybank etc. Hopefully they still are retail enough to take on a minimum of P500K.

[Guest lustfortravel]

it would be interesting to see how this thing goes in the next few weeks. i heard the same thing in other parts of the country. frankly, it seemed like a house of cards just waiting to collapse . it looks like investors are demanding return of their principal - which would affect their already tight cash flow.

 

good luck to them.

 

well, it's all over the papers. legacy has closed. i hope none of you guys had any investments there.