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Chinabank Time Deposit Initial Placement and Interest Rate

Provided below is the table of Chinabank Time Deposit Services, its initial placement and interest rate.
Chinabank
(Picture) Chinabank Logo


CHINABANK Time Deposit Initial Placement and Interest Rate

Account Type
Initial Placement
Interest Rate*
Interest Rate on Pre-termination
Diamond Savings Account**
P 50,000
Tiered based on amount, term and prevailing market rates
Regular Savings Account Rate
Regular Peso Time Deposit
P 5,000
Regular Savings Account Rate
US Dollar Time Deposit
US$ 1,000
US Dollar Savings Account Rate
EURO Time Deposit***
EUR 1,500
EURO Savings Account Rate

*  Peso Account interest earning is subject to 20% Withholding Tax. For residents, Foreign Currency Time Deposit interest earning is subject to 7.5% Withholding Tax.

** China Bank shoulders the documentary stamps tax (DST) for Diamond Savings Account if the deposit is not pre-terminated or withdrawn before maturity .

*** Available at selected branches

Note: For time deposits, minimum tenor is 1 month. Documentary Stamps Tax is P1.00 for every P 200.00 multiplied by the term divided by 365 days (rounded off to the next P 0.10)
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"Chinabank Time Deposit Initial Placement and Interest Rate" was written by Mary under the Banking category. It has been read 5285 times and generated 2 comments. The article was created on and updated on 30 April 2011.
Total comments : 2
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Hazel [Entry]

Hi! I just wanted to know the interest of making a time deposit of P20,000 for 2 months? thanks.