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).
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 each bank's page showed them on October 2, 2026; each bank's section below gives the effective date where the bank states one.
No bank pays to appear here or to change its position.
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, gross
All 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
Competitive 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, gross
Up 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.
Interest 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 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
Initial 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, gross
Initial 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.
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
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
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?
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.
