Suits: a lump sum you will not need for 12 months.
Downside: Money stays in until the term ends.
What you need to open itTime deposit rates on ₱100,000, by term
Our take: place in a time deposit only money you will not need before maturity, and keep ₱1,000,000 or less per bank so all of it stays insured. For money you may need any day, a digital bank savings account often pays close to the same (compare them).
| Bank and account | 3 months | 6 months | 1 year | You keep, 1 year | Watch out |
|---|---|---|---|---|---|
| UNOBank #UNOboost Time Deposit UNOBank rate page, as listed on October 2, 2026 | 4.50% | 5.00% | 5.50% | ₱4,400.00 | Money stays in until the term ends. |
| Maya Bank Time Deposit Plus Maya Bank rate page, effective October 1, 2026 | up to 5.50% | up to 5.50% | up to 5.50% | up to ₱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 | Not on Metrobank's rate page | Not on Metrobank's rate page | up to 5.00% | up to ₱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 | Not on UNOBank's rate page | Not on UNOBank's rate page | 4.75% | ₱3,800.00 | Money stays in until the term ends. |
| Metrobank Time Deposit Metrobank rate page, as listed on October 2, 2026 | Not on Metrobank's rate page | Not on Metrobank's rate page | up to 4.50% | up to ₱3,600.00 | "Up to" rate. Money stays in until the term ends. |
| EastWest Bank Online Peso Time Deposit EastWest Bank rate page, effective September 29, 2026 | 3.78% | 3.77% | 3.82% | ₱3,014.14 | Money stays in until the term ends. Minimum ₱10,000. Top rates need ₱10,000,000 or more. |
| EastWest Bank Peso Time Deposit EastWest Bank rate page, effective September 29, 2026 | 3.28% | 3.52% | 3.57% | ₱2,816.88 | Money 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 | Not on Tonik's rate page | 4.00% | 3.50% | ₱2,800.00 | Money stays in until the term ends. |
| CIMB Bank MaxSave Time Deposit CIMB Bank rate page, effective August 1, 2026 | 3.50% | 3.50% | 3.25% | ₱2,600.00 | Money stays in until the term ends. |
| Security Bank Peso Time Deposit Security Bank rate page, as listed on October 2, 2026 | 1.83% | 2.43% | 2.79% | ₱2,232.00 | Money 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 | 3.00% | 2.65% | 2.50% | ₱2,000.00 | Money stays in until the term ends. |
| Landbank GreenGrowth Deposit Landbank rate page, effective August 1, 2026 | Not on Landbank's rate page | Not on Landbank's rate page | 2.00% | ₱1,600.00 | Money 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 | 0.75% | 1.125% | 1.125% | ₱900.00 | Money stays in until the term ends. Top rates need ₱10,000,000 or more. |
| HSBC Philippines High Yield Time Deposit HSBC Philippines rate page, as listed on October 2, 2026 | 0.25% | 0.50% | 0.70% | ₱560.00 | Money 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 | 0.125% | 0.25% | 0.25% | ₱197.26 | Money stays in until the term ends. Top rates need ₱5,000,000 or more. |
| HSBC Philippines Regular Time Deposit HSBC Philippines rate page, as listed on October 2, 2026 | 0.125% | 0.125% | 0.125% | ₱100.00 | Money stays in until the term ends. |
| PNB Regular Peso Time Deposit PNB rate page, as listed on October 2, 2026 | 0.125% | 0.125% | 0.125% | ₱98.63 | Money stays in until the term ends. Minimum ₱10,000. Top rates need ₱1,000,000 or more. |
| EastWest Bank Peso Time Deposit, 2 to 5 years EastWest Bank rate page, as listed on October 2, 2026 | Not on EastWest Bank's rate page | Not on EastWest Bank's rate page | Not on EastWest Bank's rate page | No 1-year rate for ₱100,000 | Money stays in until the term ends. Minimum ₱10,000. |
| RCBC Peso Time Deposit, 2 to 5 years RCBC rate page, as listed on October 2, 2026 | Not on RCBC's rate page | Not on RCBC's rate page | Not on RCBC's rate page | No 1-year rate for ₱100,000 | Money stays in until the term ends. Minimum ₱100,000. Top rates need ₱10,000,000 or more. |
| PNB Market Savings Deposit PNB rate page, as listed on October 2, 2026 | Not on PNB's rate page | Not on PNB's rate page | Not on PNB's rate page | No 1-year rate for ₱100,000 | Money stays in until the term ends. Minimum ₱200,000. Top rates need ₱1,000,000 or more. |
| HSBC Philippines High Yield Time Deposit via app (Premier customers) HSBC Philippines rate page, as listed on October 2, 2026 Only for HSBC Premier customers who open the account in the HSBC Philippines app; not ranked. | 2.35% | 2.55% | 2.60% | ₱2,080.00 | Only for HSBC Premier customers who open the account in the HSBC Philippines app. |
Gross yearly rates for ₱100,000. "You keep" is the interest for about a year after the 20% final tax. "Up to" means the bank publishes only its top rate. Rates as listed on each bank's page, October 2, 2026; each bank's section below gives the effective date where the bank states one.
Next: see what UNOBank needs to open an account, or check your own amount in the time deposit calculator.
Work out your own amount
Pick any bank's time deposit, or type your own rate and term, in the time deposit calculator. It applies the 20% final tax for you.
Maya Bank time deposit rates
Time Deposit Plus
up to 5.50% a year, grossAll Time Deposit Plus accounts start with a guaranteed 3.5% p.a. that you can boost up to 5.50% p.a. when you reach your target amount and date.
Starts at a guaranteed 3.5% p.a. and goes up to 5.50% p.a. once you reach your target amount and complete the term. Interest is earned on up to ₱1 million per account, up to 5 accounts. These rates apply to accounts opened from 1 October 2026. You need an upgraded Maya account; cancelling early costs a cancellation fee.
| Term | Any amount |
|---|---|
| 3 months | 5.50% |
| 6 months | 5.50% |
| 12 months | 5.50% |
Effective October 1, 2026, per Maya Bank's rate page. Maya Bank
Tonik time deposit rates
Time Deposit
3.50% to 4.00% a year, gross6 months: 4% + 1% p.a.; 9, 12, 18 and 24 months: 3.50% + 1% p.a.
Rates effective 24 August 2026.
Bonus: 1.00%. An extra 1% p.a. is paid at payout if you keep at least ₱10,000 ADB in your Tonik savings account every month of the term.
| Term | Any amount |
|---|---|
| 6 months | 4.00% |
| 9 months | 3.50% |
| 12 months | 3.50% |
| 18 months | 3.50% |
| 24 months | 3.50% |
Effective August 24, 2026, per Tonik's rate page. Tonik
UNOBank time deposit rates
#UNOboost Time Deposit
4.00% to 5.50% a year, gross5.50% for 12 months, 4.50% for 10 and 11 months, 4.25% for 8 and 9 months, 5.00% for 6 and 7 months, 4.00% for 4 and 5 months, 4.50% for 3 months.
| Term | Any amount |
|---|---|
| 3 months | 4.50% |
| 4 months | 4.00% |
| 5 months | 4.00% |
| 6 months | 5.00% |
| 7 months | 5.00% |
| 8 months | 4.25% |
| 9 months | 4.25% |
| 10 months | 4.50% |
| 11 months | 4.50% |
| 12 months | 5.50% |
As listed on UNOBank's rate page on October 2, 2026. UNOBank
#UNOearn Time Deposit (monthly payout)
4.75% to 5.00% a year, gross5.00% for a 24-month term, 4.75% for a 12-month term.
Interest is paid out monthly to your
| Term | Any amount |
|---|---|
| 12 months | 4.75% |
| 24 months | 5.00% |
UnionDigital Bank time deposit rates
Time Deposit
2.50% to 3.15% a year, grossFrom 3.15% for 30 to 59 days down to 2.50% for 1 year.
Rates for individual time deposits effective 5 September 2025.
| Term | ₱1,000 to ₱999,999 | ₱1,000,000 to ₱4,999,999 | ₱5,000,000 to ₱9,999,999 | ₱10,000,000 and up |
|---|---|---|---|---|
| 30 to 59 days | 3.15% | 3.15% | 3.15% | 3.15% |
| 60 to 89 days | 3.10% | 3.10% | 3.125% | 3.125% |
| 90 to 119 days | 3.00% | 3.00% | 3.10% | 3.10% |
| 120 to 179 days | 2.75% | 2.75% | 2.80% | 2.80% |
| 180 to 364 days | 2.65% | 2.65% | 2.70% | 2.70% |
| 1 year | 2.50% | 2.50% | 2.50% | 2.50% |
Effective September 5, 2025, per UnionDigital Bank's rate page. UnionDigital Bank
UnionDigital Bank savings rates, requirements and PDIC cover
CIMB Bank time deposit rates
MaxSave Time Deposit
3.25% to 3.50% a year, gross3 months: 3.50% p.a. 6 months: 3.50% p.a. 12 months: 3.25% p.a.
For new placements and renewals from 1 August 2026.
| Term | Any amount |
|---|---|
| 3 months | 3.50% |
| 6 months | 3.50% |
| 12 months | 3.25% |
Effective August 1, 2026, per CIMB Bank's rate page. CIMB Bank
EastWest Bank time deposit rates
Peso Time Deposit
0.625% to 3.75% a year, grossPhP Gross Interest Rates are subject to 20.00% p.a. withholding tax.
Rates for placements from 29 September to 5 October 2026. EastWest reprices weekly.
| Term | ₱10,000 to ₱99,999 | ₱100,000 to ₱499,999 | ₱500,000 to ₱999,999 | ₱1,000,000 to ₱2,999,999 | ₱3,000,000 to ₱4,999,999 | ₱5,000,000 to ₱9,999,999 | ₱10,000,000 to ₱100,000,000 |
|---|---|---|---|---|---|---|---|
| 30 days | 0.625% | 3.05% | 3.05% | 3.05% | 3.05% | 3.05% | 3.27% |
| 60 days | 0.675% | 3.17% | 3.17% | 3.17% | 3.17% | 3.17% | 3.39% |
| 90 days | 0.725% | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% | 3.50% |
| 180 days | 0.825% | 3.52% | 3.52% | 3.52% | 3.52% | 3.52% | 3.70% |
| 270 days | 1.125% | 3.52% | 3.52% | 3.52% | 3.52% | 3.52% | 3.70% |
| 360 days | 1.125% | 3.57% | 3.57% | 3.57% | 3.57% | 3.57% | 3.75% |
Effective September 29, 2026 to October 5, 2026, per EastWest Bank's rate page. EastWest Bank
Online Peso Time Deposit
0.875% to 4.00% a year, grossOnline Peso Time Deposit (inclusive of 0.25% bonus rate).
Includes a 0.25% bonus rate for opening online. Rates for 29 September to 5 October 2026.
| Term | ₱10,000 to ₱99,999 | ₱100,000 to ₱499,999 | ₱500,000 to ₱999,999 | ₱1,000,000 to ₱2,999,999 | ₱3,000,000 to ₱4,999,999 | ₱5,000,000 to ₱9,999,999 | ₱10,000,000 to ₱100,000,000 |
|---|---|---|---|---|---|---|---|
| 30 days | 0.875% | 3.30% | 3.30% | 3.30% | 3.30% | 3.30% | 3.52% |
| 60 days | 0.925% | 3.42% | 3.42% | 3.42% | 3.42% | 3.42% | 3.64% |
| 90 days | 1.225% | 3.78% | 3.78% | 3.78% | 3.78% | 3.78% | 4.00% |
| 180 days | 1.075% | 3.77% | 3.77% | 3.77% | 3.77% | 3.77% | 3.95% |
| 270 days | 1.375% | 3.77% | 3.77% | 3.77% | 3.77% | 3.77% | 3.95% |
| 360 days | 1.375% | 3.82% | 3.82% | 3.82% | 3.82% | 3.82% | 4.00% |
Effective September 29, 2026 to October 5, 2026, per EastWest Bank's rate page. EastWest Bank
Peso Time Deposit, 2 to 5 years
4.40% a year, grossPhP 10,000 and above: 4.400% for 2, 3, 4 and 5 years + 1 day.
| Term | ₱10,000 and up |
|---|---|
| 2 years | 4.40% |
| 3 years | 4.40% |
| 4 years | 4.40% |
| 5 years and 1 day | 4.40% |
As listed on EastWest Bank's rate page on October 2, 2026. EastWest Bank
Security Bank time deposit rates
Peso Time Deposit
1.43% to 5.01% a year, grossInterest rates are INDICATIVE and are subject to change without notice.
Indicative rates for individual clients, from the first peso table on Security Bank's rate page.
| Term | ₱100,000 to ₱299,999 | ₱300,000 to ₱999,999 | ₱1,000,000 to ₱2,999,999 | ₱3,000,000 to ₱4,999,999 | ₱5,000,000 and up |
|---|---|---|---|---|---|
| 1 month | 1.43% | 1.53% | 1.63% | 1.73% | 1.83% |
| 2 months | 1.47% | 1.57% | 1.67% | 1.77% | 1.87% |
| 3 months | 1.83% | 1.93% | 2.03% | 2.13% | 2.23% |
| 6 months | 2.43% | 2.53% | 2.63% | 2.73% | 2.83% |
| 12 months | 2.79% | 2.89% | 2.99% | 3.09% | 3.19% |
| 2 years | 3.53% | 3.63% | 3.73% | 3.83% | 3.93% |
| 3 years | 4.02% | 4.12% | 4.22% | 4.32% | 4.42% |
| 4 years | 4.23% | 4.33% | 4.43% | 4.53% | 4.63% |
| 5 years | 4.40% | 4.50% | 4.60% | 4.70% | 4.80% |
| 7 years | 4.61% | 4.71% | 4.81% | 4.91% | 5.01% |
As listed on Security Bank's rate page on October 2, 2026. Security Bank
HSBC Philippines time deposit rates
Regular Time Deposit
0.125% a year, gross0.125% p.a. for 1, 2, 3, 4, 6 and 12 months.
| Term | Any amount |
|---|---|
| 1 month | 0.125% |
| 3 months | 0.125% |
| 6 months | 0.125% |
| 12 months | 0.125% |
As listed on HSBC Philippines's rate page on October 2, 2026. HSBC Philippines
High Yield Time Deposit
0.125% to 1.20% a year, grossFrom 0.125% to 1.20% p.a. depending on amount and term.
| Term | ₱100,000 to ₱499,999 | ₱500,000 to ₱999,999 | ₱1,000,000 to ₱4,999,999 | ₱5,000,000 to ₱10,000,000 |
|---|---|---|---|---|
| 1 month | 0.125% | 0.125% | 0.375% | 0.625% |
| 2 months | 0.125% | 0.125% | 0.375% | 0.625% |
| 3 months | 0.25% | 0.25% | 0.50% | 0.75% |
| 4 months | 0.375% | 0.375% | 0.625% | 0.875% |
| 6 months | 0.50% | 0.50% | 0.75% | 1.00% |
| 12 months | 0.70% | 0.70% | 0.95% | 1.20% |
High Yield Time Deposit via app (Premier customers)
2.25% to 2.70% a year, grossThese interest rates are exclusive to Premier customers who open a High Yield Time Deposit account via the HSBC Philippines app.
Only for HSBC Premier customers who open the account in the HSBC Philippines app. Indicative; confirmed before opening.
| Term | ₱100,000 to ₱499,999 | ₱500,000 to ₱10,000,000 |
|---|---|---|
| 1 month | 2.25% | 2.35% |
| 2 months | 2.30% | 2.40% |
| 3 months | 2.35% | 2.45% |
| 4 months | 2.50% | 2.60% |
| 6 months | 2.55% | 2.65% |
| 12 months | 2.60% | 2.70% |
RCBC time deposit rates
Peso Time Deposit, 30 days to 1 year
0.50% to 1.375% a year, grossPHP time deposit, 30 days to 1 year, minimum PHP 5,000: 0.500% - 1.375% per annum.
RCBC lists the third band as "PHP 100,000 to PHP 999,000". Rates are indicative.
| Term | ₱5,000 to ₱39,999 | ₱40,000 to ₱99,999 | ₱100,000 to ₱999,999 | ₱1,000,000 to ₱4,999,999 | ₱5,000,000 to ₱9,999,999 | ₱10,000,000 and up |
|---|---|---|---|---|---|---|
| 30 to 45 days | 0.50% | 0.625% | 0.625% | 0.75% | 0.75% | 0.875% |
| 46 to 60 days | 0.50% | 0.625% | 0.625% | 0.75% | 0.75% | 0.875% |
| 61 to 90 days | 0.50% | 0.625% | 0.625% | 0.75% | 0.75% | 0.875% |
| 91 to 180 days | 0.625% | 0.75% | 0.75% | 0.875% | 0.875% | 1.00% |
| 181 to 364 days | 1.00% | 1.125% | 1.125% | 1.25% | 1.25% | 1.375% |
| 1 year | 1.00% | 1.125% | 1.125% | 1.25% | 1.25% | 1.375% |
As listed on RCBC's rate page on October 2, 2026. RCBC
Peso Time Deposit, 2 to 5 years
1.625% to 2.50% a year, grossPHP time deposit, 2 to 4 years: 1.625% - 2.250%; 5 years + 1 day: 2.250% - 2.500% per annum. Minimum PHP 100,000.
| Term | ₱100,000 to ₱999,999 | ₱1,000,000 to ₱9,999,999 | ₱10,000,000 and up |
|---|---|---|---|
| 2 years | 1.625% | 1.75% | 1.875% |
| 3 years | 1.75% | 1.875% | 2.00% |
| 4 years | 2.00% | 2.125% | 2.25% |
| 5 years and 1 day | 2.25% | 2.375% | 2.50% |
Metrobank time deposit rates
Time Deposit
up to 4.50% a year, grossCompetitive deposit rates of up to 4.5% per annum. You can start with as small as P10,000.
Metrobank publishes only a top rate, not a rate table. Pre-terminating pays 75% of interest earned in the first half of the term and 50% in the second half.
As listed on Metrobank's rate page on October 2, 2026. Metrobank
Online Time Deposit
up to 5.00% a year, grossUp to 5% gross per annum. Minimum placement of PHP 10,000. Choose your term, from 1 to 12 months.
The rate depends on the amount and term; Metrobank publishes only the top rate.
BDO time deposit rates
Peso Time Deposit
0.125% to 0.50% a year, grossInterest rates per annum from 0.125% (₱1,000 to below ₱10,000, 30 to 360 days) to 0.500% (₱5 million and over, 180 to 360 days). Interest rates are indicative and are subject to change without notice.
Minimum placement ₱1,000. BDO says the rates are indicative and to confirm with the branch when you place.
| Term | ₱1,000 to ₱9,999 | ₱10,000 to ₱49,999 | ₱50,000 to ₱99,999 | ₱100,000 to ₱199,999 | ₱200,000 to ₱499,999 | ₱500,000 to ₱999,999 | ₱1,000,000 to ₱2,999,999 | ₱3,000,000 to ₱4,999,999 | ₱5,000,000 to ₱9,999,999 | ₱10,000,000 to ₱19,999,999 | ₱20,000,000 and up |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 days | 0.125% | 0.125% | 0.125% | 0.125% | 0.125% | 0.125% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| 60 days | 0.125% | 0.125% | 0.125% | 0.125% | 0.125% | 0.125% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| 90 days | 0.125% | 0.125% | 0.125% | 0.125% | 0.125% | 0.125% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| 180 days | 0.125% | 0.125% | 0.125% | 0.25% | 0.25% | 0.25% | 0.375% | 0.375% | 0.50% | 0.50% | 0.50% |
| 360 days | 0.125% | 0.125% | 0.125% | 0.25% | 0.25% | 0.25% | 0.375% | 0.375% | 0.50% | 0.50% | 0.50% |
As listed on BDO's rate page on October 2, 2026. BDO
Landbank time deposit rates
GreenGrowth Deposit
2.00% to 4.00% a year, grossLANDBANK GreenGrowth Deposit, ₱50,000, 1 Year: P50K to below P500K 2.00%; P500K to below P5M 3.00%; P5M and above 4.00%.
Minimum ₱50,000 for 1 year; interest is paid at maturity. Rates as of 1 August 2026 (they were 2.25%, 3.25% and 4.25% in January 2026). If you end it early, the rate reverts to the regular savings rate.
| Term | ₱50,000 to ₱499,999 | ₱500,000 to ₱4,999,999 | ₱5,000,000 and up |
|---|---|---|---|
| 1 year | 2.00% | 3.00% | 4.00% |
Effective August 1, 2026, per Landbank's rate page. Landbank
PNB time deposit rates
Regular Peso Time Deposit
0.125% to 0.375% a year, grossInitial Deposit Php 10,000. Term 30-360 days. 10,000.00 to 249,999.99: 0.125%; 250,000.00 to 999,999.99: 0.250%; 1,000,000.00 and above: 0.375%. Withholding Tax 20% of interest earning.
Minimum ₱10,000. Renews automatically at maturity; interest compounded at maturity or paid out monthly.
| Term | ₱10,000 to ₱49,999 | ₱50,000 to ₱249,999 | ₱250,000 to ₱499,999 | ₱500,000 to ₱999,999 | ₱1,000,000 to ₱4,999,999 | ₱5,000,000 and up |
|---|---|---|---|---|---|---|
| 30 days | 0.125% | 0.125% | 0.25% | 0.25% | 0.375% | 0.375% |
| 31 to 60 days | 0.125% | 0.125% | 0.25% | 0.25% | 0.375% | 0.375% |
| 61 to 90 days | 0.125% | 0.125% | 0.25% | 0.25% | 0.375% | 0.375% |
| 91 to 180 days | 0.125% | 0.125% | 0.25% | 0.25% | 0.375% | 0.375% |
| 181 to 360 days | 0.125% | 0.125% | 0.25% | 0.25% | 0.375% | 0.375% |
As listed on PNB's rate page on October 2, 2026. PNB
Market Savings Deposit
0.125% to 0.375% a year, grossInitial Deposit Php 200,000. Term 30-360 days. 200,000 to 499,999.99: 0.125%; 500,000 to 999,999.99: 0.250%; 1,000,000 and above: 0.375%.
Minimum ₱200,000; the same rate applies to every term from 30 to 360 days.
| Term | ₱200,000 to ₱499,999 | ₱500,000 to ₱999,999 | ₱1,000,000 and up |
|---|---|---|---|
| 30 to 360 days | 0.125% | 0.25% | 0.375% |
Tax on time deposit interest
Banks withhold a 20% final tax from time deposit interest before paying it, so the interest you receive is already net and there is nothing to declare on your income tax return. Since July 1, 2025, under Sections 24(B)(1) and 25(A)(1) of the Tax Code, as amended by RA 12214 (Capital Markets Efficiency Promotion Act), the rate applies whatever the term, so the old tax exemption for deposits of five years or more no longer applies to new placements. BIR, RR 21-2025
Comparing a time deposit with Pag-IBIG MP2, whose dividends are not taxed? See time deposit vs MP2 after tax and the MP2 calculator. More on the final withholding tax.
Withdrawing before maturity
Breaking a time deposit early usually costs interest. What each bank publishes:
- 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
Keeping a time deposit insured
The PDIC insures up to ₱1,000,000 per depositor, per bank, effective March 15, 2025, counting your time deposits and other accounts at that bank together. PDIC Check your own mix in the PDIC deposit insurance calculator. Maya Bank Time Deposit Plus earns interest on up to ₱1,000,000 per account.
No time deposit rates on their websites: GoTyme Bank, OFBank, MariBank, BPI, AUB.
Questions
How do I compute time deposit interest?
Multiply the amount by the yearly rate and by the days in the term over 365, then take off the 20% final tax. ₱100,000 at 5% for 365 days earns ₱5,000 gross and ₱4,000 after tax. BIR, Revenue Regulations No. 21-2025 digest
Is time deposit interest still tax-free after five years?
Not for new deposits. Since July 1, 2025, the 20% final tax applies to deposit interest whatever the term. BIR, Revenue Regulations No. 21-2025 digest
Are time deposits insured by the PDIC?
Yes. Time deposits count toward the PDIC cover of ₱1,000,000 per depositor, per bank, together with your other accounts at the same bank. PDIC, FAQ 7
Not covered here: dollar time deposits, trust products and bonds. Rates for large or negotiated placements are set at the branch; ask the bank for a written rate before you place.
What to do next
- Run your amount and term in the time deposit calculator.
- Confirm the rate for your amount on the bank's own site or branch before you place money; banks change rates without notice.
- Funding it from another bank? Check the cost in InstaPay and PESONet fees.