Posted by: jinoe | May 17, 2007

My Road to Riches – Time Deposit Experience

Time deposit is a low risk investment.  It’s a sure way to gain money.  Very little money.  But it’s better than the average savings account.  With BPI, the interest for a regular savings account is only 0.625% p.a..  While in their Direct Time Deposit rate, the lowest is at 1.375% upon maturity.  It’s also convinient since you can enroll your account and monitor them online.

The downside of Time Deposit is that it is subject to withholding tax and documantary stamps.  Therefore the maturity amount is not equal to the published interest rate but will have deductions along the way.

I tried enrolling a Direct Time Deposit with BPI.  The steps online are easy to follow.  I decided to have the 63day TD.  After all steps are complete, BPI will assess the request, If everything is ok, the account will appear online in less than a week.

The net maturity amount will also appear.  I was quite disappointed that I’ll be waiting for 63 days to earn a just little more than a hundred pesos.  This is the funny part of TD.  After more than two months, your earnings can end up buying a chicken meal from a fast food chain.  Big time.

Anyway, I’m keeping my TD account.  Or maybe upgrade it to 91 days and compare the result.  This is a good way to keep my savings intact since you can’t withdraw your money until the maturity date.  I’m confident that its safe and I won’t use it for impulsive shopping.  In this case, the greatest enemy is really myself.



  1. Hi,

    So, how much saving you have now, it’s more than a year now ^_^.,since you posted.

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