Are you thinking of putting your money into a time deposit account? You can easily have peace of mind if your money is in time deposit since the fixed interest rate is applied. Many banks in the Philippines offer good interest for time deposit.
How Much is the Interest Rate in Time Deposit?
You can find banks that offer from 0.625 to 3.5% depending on the number of years and the amount of money you will invest. If you want to get started, you can choose any savings bank in the Philippines and ask for their latest time deposit interest.
How Long is the Time Deposit Without Penalty?
Usually, time deposits may start from 1 month up to 12 months. However, high interest rates are applied to those with 1M amount of deposit within 3 to 5 years.