Philippines Time Deposit Rates
About Philippines Time Deposits
Within the Philippines, term deposits, fixed deposits or certificate of deposit related products are called time deposits within the country. Like other similar products issued by banks around the world a Philippine time deposit account is a bank account type option for customers who would like to deposit available excess funds in a high interest account type.
The time deposit has an agreed term and interest rate of return and will render funds illiquid for the agreed period of time.Also the interest bearing time deposit is denominated in the Peso currency and offers an interest rate of return usually higher than a Philippine savings account product.