Cherry De Vega, Bookkeeping and Compliance ReviewerReviewed by Cherry De Vega, Bookkeeping and Compliance Reviewer

Time deposit calculator

Time deposit interest = amount × yearly rate × days in the term ÷ 365, less the 20% final tax the bank withholds. ₱100,000 at 5% for a year earns ₱5,000 gross and ₱4,000 after tax. Type your own rate and term below, or pick any of 50 published accounts to use its rate.

₱100,000 in a Peso Time Deposit at BDO for 360 days earns 0.25%: ₱246.58 gross, ₱197.26 after tax. The same amount at UNOBank #UNOboost Time Deposit, 12 months keeps ₱4,400.00.

Our take: if you will not touch the money for 12 months, UNOBank #UNOboost Time Deposit, 12 months keeps ₱4,400.00 on ₱100,000, ₱1,152.65 more than the best savings account. If you may need it before then, use Tonik Solo Stash, which keeps ₱3,247.35 and lets you withdraw any day. Next: check UNOBank's conditions before you open it.

Account type
Term (months)
Interest you keep, after 20% final tax
₱3,200.00
Gross interest
₱4,000.00
Final tax withheld (20%)
₱800.00
Rate used
4.00%
Balance at the end
₱103,200.00

Time deposit: simple interest for 12 months (365 days over 365), paid at maturity.

20% final tax from July 1, 2025, Sections 24(B)(1) and 25(A)(1) of the Tax Code, as amended by RA 12214 (Capital Markets Efficiency Promotion Act) (BIR, RR 21-2025).

Which bank pays most on ₱100,000 for a year, after tax

AccountRateGross20% taxYou keepWatch out
UNOBank #UNOboost Time Deposit UNOBank rate page, as listed on October 2, 2026, 12 months5.50%₱5,500.00₱1,100.00₱4,400.00Money stays in until the term ends.
Maya Bank Time Deposit Plus Maya Bank rate page, effective October 1, 2026, 12 months5.50%₱5,500.00₱1,100.00₱4,400.00"Up to" rate; 3.50% unless you meet the conditions. Money stays in until the term ends.
Metrobank Online Time Deposit Metrobank rate page, as listed on October 2, 2026, 1 to 12 months5.00%₱5,000.00₱1,000.00₱4,000.00"Up to" rate. Money stays in until the term ends.
UNOBank #UNOearn Time Deposit (monthly payout) UNOBank rate page, as listed on October 2, 2026, 12 months4.75%₱4,750.00₱950.00₱3,800.00Money stays in until the term ends.
Metrobank Time Deposit Metrobank rate page, as listed on October 2, 2026, Up to 12 months4.50%₱4,500.00₱900.00₱3,600.00"Up to" rate. Money stays in until the term ends.
Tonik Solo Stash Tonik rate page, as listed on October 2, 20264.00%₱4,059.19₱811.84₱3,247.35None stated
Tonik Group Stash Tonik rate page, as listed on October 2, 20264.00%₱4,059.19₱811.84₱3,247.35The boosted 4.50% has conditions.
EastWest Bank Online Peso Time Deposit EastWest Bank rate page, effective September 29, 2026, 360 days3.82%₱3,767.67₱753.53₱3,014.14Money stays in until the term ends. Minimum ₱10,000. Top rates need ₱10,000,000 or more.
UNOBank #UNOready Savings UNOBank rate page, as listed on October 2, 20263.50%₱3,545.27₱709.05₱2,836.21Rate falls to 1.00% from ₱5,000,000.
EastWest Bank Peso Time Deposit EastWest Bank rate page, effective September 29, 2026, 360 days3.57%₱3,521.10₱704.22₱2,816.88Money stays in until the term ends. Minimum ₱10,000. Top rates need ₱10,000,000 or more.
Tonik Time Deposit Tonik rate page, effective August 24, 2026, 12 months3.50%₱3,500.00₱700.00₱2,800.00Money stays in until the term ends.
MariBank Savings MariBank rate page, as listed on October 2, 20263.25%₱3,289.01₱657.80₱2,631.21None stated
CIMB Bank MaxSave Time Deposit CIMB Bank rate page, effective August 1, 2026, 12 months3.25%₱3,250.00₱650.00₱2,600.00Money stays in until the term ends.
GoTyme Bank GoalSave GoTyme Bank rate page, as listed on October 2, 20263.00%₱3,033.22₱606.64₱2,426.58None stated
Maya Bank Maya Savings Maya Bank rate page, as listed on October 2, 20263.00%₱3,033.22₱606.64₱2,426.58The boosted 15.00% has conditions.
UnionDigital Bank UD Save UnionDigital Bank rate page, effective February 25, 20263.00%₱3,033.22₱606.64₱2,426.58None stated
Security Bank Peso Time Deposit Security Bank rate page, as listed on October 2, 2026, 12 months2.79%₱2,790.00₱558.00₱2,232.00Money stays in until the term ends. Minimum ₱100,000. Top rates need ₱5,000,000 or more.
UnionDigital Bank Time Deposit UnionDigital Bank rate page, effective September 5, 2025, 1 year2.50%₱2,500.00₱500.00₱2,000.00Money stays in until the term ends.
CIMB Bank UpSave CIMB Bank rate page, effective August 1, 20262.30%₱2,319.50₱463.90₱1,855.60None stated
CIMB Bank GSave CIMB Bank rate page, effective June 1, 20262.30%₱2,319.50₱463.90₱1,855.60None stated
Landbank GreenGrowth Deposit Landbank rate page, effective August 1, 2026, 1 year2.00%₱2,000.00₱400.00₱1,600.00Money stays in until the term ends. Minimum ₱50,000. Top rates need ₱5,000,000 or more.
RCBC Peso Time Deposit, 30 days to 1 year RCBC rate page, as listed on October 2, 2026, 1 year1.125%₱1,125.00₱225.00₱900.00Money stays in until the term ends. Top rates need ₱10,000,000 or more.
Tonik Tonik Account Tonik rate page, as listed on October 2, 20261.00%₱1,003.67₱200.73₱802.94None stated
CIMB Bank FastPlus CIMB Bank rate page, as listed on October 2, 20260.75%₱752.07₱150.41₱601.65None stated
HSBC Philippines High Yield Time Deposit HSBC Philippines rate page, as listed on October 2, 2026, 12 months0.70%₱700.00₱140.00₱560.00Money stays in until the term ends. Minimum ₱100,000. Top rates need ₱5,000,000 or more.
BDO Peso Time Deposit BDO rate page, as listed on October 2, 2026, 360 days0.25%₱246.58₱49.32₱197.26Money stays in until the term ends. Top rates need ₱5,000,000 or more.
RCBC Regular Savings ATM RCBC rate page, as listed on October 2, 20260.125%₱125.06₱25.01₱100.05Earns nothing below ₱25,000. ₱3,000 maintaining balance, with a fee if you fall below.
HSBC Philippines Regular Time Deposit HSBC Philippines rate page, as listed on October 2, 2026, 12 months0.125%₱125.00₱25.00₱100.00Money stays in until the term ends.
PNB Regular Peso Time Deposit PNB rate page, as listed on October 2, 2026, 181 to 360 days0.125%₱123.29₱24.66₱98.63Money stays in until the term ends. Minimum ₱10,000. Top rates need ₱1,000,000 or more.
EastWest Bank Regular Savings EastWest Bank rate page, as listed on October 2, 20260.10%₱100.04₱20.01₱80.03Earns nothing below ₱10,000. ₱5,000 maintaining balance, with a fee if you fall below.
AUB Starter Savings AUB rate page, as listed on October 2, 20260.10%₱100.04₱20.01₱80.03Earns nothing below ₱1,000.
PNB Passbook Savings PNB rate page, as listed on October 2, 20260.10%₱100.04₱20.01₱80.03Earns nothing below ₱10,000. ₱10,000 maintaining balance, with a fee if you fall below.
BPI #SaveUp BPI rate page, as listed on October 2, 20260.0925%₱92.53₱18.51₱74.03Earns nothing below ₱5,000.
BPI Jumpstart Savings BPI rate page, as listed on October 2, 20260.0625%₱62.51₱12.50₱50.01Earns nothing below ₱2,000. ₱1,000 maintaining balance, with a fee if you fall below.
BDO ATM Savings BDO rate page, as listed on October 2, 20260.0625%₱62.51₱12.50₱50.01Earns nothing below ₱5,000. ₱2,000 maintaining balance, with a fee if you fall below.
BDO Passbook Savings BDO rate page, as listed on October 2, 20260.0625%₱62.51₱12.50₱50.01Earns nothing below ₱10,000. ₱10,000 maintaining balance, with a fee if you fall below.
BDO Kabayan Savings (Peso) BDO rate page, as listed on October 2, 20260.0625%₱62.51₱12.50₱50.01Earns nothing below ₱5,000.
OFBank YaniSaver Premium Savings OFBank rate page, as listed on October 2, 20260.05%₱50.01₱10.00₱40.01Earns nothing below ₱50,000.
Security Bank All Access Security Bank rate page, as listed on October 2, 20260.05%₱50.01₱10.00₱40.01₱10,000 maintaining balance, with a fee if you fall below.
Security Bank Easy Savings Security Bank rate page, as listed on October 2, 20260.05%₱50.01₱10.00₱40.01₱3,000 maintaining balance, with a fee if you fall below.
Landbank Regular Passbook Savings Landbank rate page, effective August 1, 20200.05%₱50.01₱10.00₱40.01Earns nothing below ₱10,000. ₱10,000 maintaining balance, with a fee if you fall below.
Landbank Savings Account with ATM Access Landbank rate page, effective August 1, 20200.05%₱50.01₱10.00₱40.01Earns nothing below ₱2,000. ₱500 maintaining balance, with a fee if you fall below.
Landbank PISO (Perang Inimpok Savings Options) Account Landbank rate page, as listed on October 2, 20260.05%₱50.01₱10.00₱40.01Earns nothing below ₱2,000.
HSBC Philippines Savings account HSBC Philippines rate page, as listed on October 2, 20260.005%₱5.00₱1.00₱4.00None stated
BPI Maxi-Saver BPI rate page, as listed on October 2, 20260.00%₱0.00₱0.00₱0.00Earns nothing below ₱2,000,000. ₱2,000,000 maintaining balance, with a fee if you fall below.
AUB Preferred Peso Savings AUB rate page, as listed on October 2, 20260.00%₱0.00₱0.00₱0.00Earns nothing below ₱500,000. ₱5,000 maintaining balance, with a fee if you fall below.

Savings at base rates with interest credited monthly; time deposits at the term nearest a year. Accounts that need more than ₱100,000, or only premier customers can open, are left out. Rates by term for every bank: time deposit rates. Rates as each bank's page showed them on October 2, 2026.

No bank pays to appear here or to change its position.

Next: check what UNOBank needs to open #UNOboost Time Deposit before you move money.

Not covered here: dollar deposits, compound interest on investments, and tax on income other than deposit interest. For your own account, the interest on your bank statement is the figure that counts.

What to do next

  1. Open the bank's page from the table above to see its maintaining balance, crediting schedule and fees, then confirm the rate on the bank's own site before you deposit.
  2. Moving money between banks? Check what each charges in InstaPay and PESONet fees.
  3. Spreading more than ₱1,000,000 across banks? Check your cover in the PDIC deposit insurance calculator.

How to compute time deposit and savings interest

  • Savings accounts. Your balance stays the same and interest is credited monthly. What is left after tax stays in the account and earns interest the next month. Tiered accounts use the rate for your balance.
  • Time deposits. Simple interest for the term, counted in days over a 365-day year and paid at maturity.
  • Tax. 20% of the gross interest, withheld by the bank each time it credits interest.
  • Promo rates. Boosts and bonuses that depend on your activity are listed on each bank's page but not used here.

When each bank credits interest

Banks credit interest on different schedules and withhold the tax at each credit, so the same rate can pay a few pesos more or less:

  • Maya Bank: Maya Savings earns interest on each day's end-of-day balance and credits it the next day, net of tax. Time Deposit Plus interest is credited monthly, on the first calendar day of the next month. Maya Bank
  • Tonik: The extra 1% a year on a Time Deposit is paid only at payout, and only if your Tonik savings account keeps an average daily balance of at least ₱10,000 every month of the term. Tonik
  • UNOBank: #UNOready Savings interest is computed on the end-of-day balance and credited daily; the smallest credit is ₱0.01. #UNOearn pays its interest monthly into your #UNOready account. UNOBank
  • UNOBank: At maturity, #UNOboost and #UNOearn time deposits can be rolled over from the Maturity Instructions in the UNO app. UNOBank
  • UnionDigital Bank: Interest is calculated daily on end-of-day balances and credited monthly. UnionDigital states that all deposit interest is subject to 20% withholding tax. UnionDigital Bank
  • CIMB Bank: GSave interest is paid out monthly. GSave is opened through the GCash app. CIMB Bank
  • BPI: Savings interest is credited quarterly, except Maxi-Saver, which credits monthly. The account must still be open on the crediting date to receive it. BPI
  • EastWest Bank: Peso time deposit rates are reset weekly; the table here is for placements from 29 September to 5 October 2026. EastWest Bank
  • Security Bank: Interest is credited at the end of every month or quarter, depending on the account, net of withholding tax, and only if the account meets its minimum balance. Security Bank
  • HSBC Philippines: Interest is calculated daily and credited monthly or quarterly on savings accounts, and at maturity on time deposits. HSBC Philippines
  • AUB: Interest on both savings accounts is credited quarterly, after the 20% withholding tax. AUB
  • BDO: Savings interest is computed on the daily available balance and credited at the end of the month, less the withholding tax. Dormant accounts, and accounts closed before month-end crediting, earn no interest. BDO
  • Landbank: Savings interest accrues daily while the account meets the balance needed to earn interest, and is credited at the end of each quarter. Landbank

If you need the money early, or hold more than ₱1,000,000

Breaking a time deposit costs interest. The safe action is to put in a time deposit only money you will not need before maturity, and keep the rest in savings.

  • Maya Bank: Cancelling a Time Deposit Plus early pays the base interest accrued so far but not the boosted interest accrued after the last crediting date. Maya Bank
  • Security Bank: Closing an account within 30 days of opening costs ₱500. Security Bank
  • Metrobank: Metrobank's time deposit FAQ says that withdrawing early pays 75% of the interest earned if you withdraw in the first half of the term and 50% in the second half. Metrobank
  • BDO: Taking money out of a time deposit early, even partly, closes it and follows BDO's early redemption policy; BDO may ask for one banking day's notice. A time deposit left past maturity without instructions earns only the savings rate. BDO
  • Landbank: Ending a Peso Time Deposit early drops it to the regular savings rate, and Landbank asks for written notice 7 days before the withdrawal. Landbank
  • PNB: If you end a time deposit before maturity, the taxes and charges are deducted from what you get back. For the 1 to 29 day Short Term Time Deposit, the rate reverts to the savings rate. PNB

The PDIC insures up to ₱1,000,000 per depositor per bank, effective March 15, 2025; anything above that at one bank is uninsured if the bank closes. Keep ₱1,000,000 or less per bank: ₱2,500,000 split ₱1,000,000, ₱1,000,000 and ₱500,000 across three banks is fully insured. PDIC

Other taxes you might be working out

Interest is the only income where the bank does the tax for you in full. For your salary, use the salary tax calculator; for what your employer withholds each payday, the withholding tax calculator.

Questions

Do I need to declare bank interest in my income tax return?

No. Because the 20% is a final tax, the interest is not added to your taxable income and you do not report it again. BIR, Revenue Regulations No. 21-2025 digest

Is time deposit interest tax-free if I keep it for five years?

Not for new deposits. Since July 1, 2025, the 20% final tax applies to deposit interest regardless of the deposit's term. BIR, Revenue Regulations No. 21-2025 digest