# Good deposit rate?



## kingrulzuk (Jan 19, 2010)

Hiya all
me and my partner are getting married in May this year in HK. We have been getting money as gift from friends and family.
We want to open a bank account and keep the money fix deposit for some years as we don’t need it now.
So can some please tell me which is the best bank account which has a good deposit rate?

Thank you advance


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## Gary D (Oct 28, 2013)

The rural banks give the best rates. We have had 9 and 12% but I was getting a bit edgy. In general the Philippine banks are pretty much in line with western banks. One rural bank was offering 25% just before everyone lost their money.


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## 197649 (Jan 1, 2013)

kingrulzuk said:


> Hiya all
> me and my partner are getting married in May this year in HK. We have been getting money as gift from friends and family.
> We want to open a bank account and keep the money fix deposit for some years as we don’t need it now.
> So can some please tell me which is the best bank account which has a good deposit rate?
> ...


Congrats. If I was you I would look for stability large banks Metrobank, China Bank, PS Bank, BDO. The big 4. Visit their web sites. The smaller banks may give you a better intrest rate but you have to worry if that bank will be here in 5-10 years. If its a mom and pop bank FORGET IT

This is from Sept 2014 but it lists the banks that made the global ranking list
http://business.inquirer.net/178558/8-philippine-banks-make-it-to-global-rankings-list


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## Cebu Citizen (Dec 13, 2013)

I originally banked with BPI, (Bank of the Philippine Islands), and will continue to do so only because one of my US bank accounts, (Wells Fargo), is linked directly to an account at BPI. This makes money transfers, (Wells Fargo Express Send), very quick and easy and inexpensive. I can transfer up to $3,000 US Dollars per day for as little as $4 service fee and I will have the money in my hands typically in less than 24 hours! However, (others may have experienced better service), but for me, the customer service at BPI has much to be desired! Terrible service and it takes way too long to accomplish anything there.

So, to make a long story short, I moved over to BDO, (Banko De Oro). What took BPI several weeks to accomplish, BDO did in only one day and my wife and I have several investments at BDO and the rates are not awesome but quite satisfactory and comparable to the World Banking Market.

One of our BDO investments is drawing 15 3/4% and the other is somewhere around 12% but I am not sure the exact rate on that account.

BDO also offers a great rate on Life Insurance for you or your spouse and these are great ways to invest also, (if you have excess cash laying around), because these insurance policies generally pay out higher rates than most bank savings programs or Certificates of Deposit, (CD's). The advantage here is that should one of the depositors pass away, not only are you making a nice interest rate on your investment but you or your spouse or children will also receive a very handsome payout from the death benefit...making these investments double or triple their investment appeal.

Of course it has always been suggested to NOT personally make yourself worth more dead than alive...someone may get a wrong idea!


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## kingrulzuk (Jan 19, 2010)

Thank you all for the info
I will check BDO now. I dont want to invest my money just fix deposite it for few years which will earn me some interest.


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## DonAndAbby (Jan 7, 2013)

Cebu Citizen, what type of investment is paying 12-15% at BDO?


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## Cebu Citizen (Dec 13, 2013)

DonAndAbby said:


> Cebu Citizen, what type of investment is paying 12-15% at BDO?


Don and Abby...my 15 and 3/4 interest is on a long term builders bond on a condominium project with DMCI. The minimum investment is 5 million pesos, untouchable for the first two years after signing but the payout after that was worth it.


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## Gary D (Oct 28, 2013)

Cebu Citizen said:


> Don and Abby...my 15 and 3/4 interest is on a long term builders bond on a condominium project with DMCI. The minimum investment is 5 million pesos, untouchable for the first two years after signing but the payout after that was worth it.


So what protection do you have should this project go south. From what I'm seeing a lot of these are not going to be finished and abandoned like the subdivision boom of a few years back.


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## Nickleback99 (Aug 6, 2011)

That type rate almost sounds like junk bond status. Not sure I'd risk $100K plus on that! With today's markets world wide and US rates, I'd love to just be getting a solid 5-6% with little risk. If I can find that?...I'm in.


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## galactic (Dec 2, 2014)

RCBC Bank is a solid bank.
Personalized service with Time Deposit clients.
You are also entitled to an RCBC Instacard Mastercard that has the same limit as your time deposit with much lower interest rates than regular credit cards.


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## Tukaram (Dec 18, 2014)

I keep all my money in the US. The dollar ain't worth what it used to be but the world still revolves around it. I would not be confident investing here in the PI's! I keep only my monthly allowance here.


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## kingrulzuk (Jan 19, 2010)

Just want to say thank you all for the info.

Me and my partner have spoken about it and found the best thing is to do is transfer the money to India and put it fix deposit there. I have checked and for 1 to 3 years I can earn 9% interest. 

Keep up the good work people


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## HondaGuy (Aug 6, 2012)

Cebu Citizen said:


> Don and Abby...my 15 and 3/4 interest is on a long term builders bond on a condominium project with DMCI. The minimum investment is 5 million pesos, untouchable for the first two years after signing but the payout after that was worth it.


Cebu, where can one invest in bonds like this? Through the banks or DMCI directly?
The rate is definitely in junk bond land, but for a speculative investment, you can definitely do worse than DMCI.


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## cvgtpc1 (Jul 28, 2012)

Don't know if it's the skepticism of being cash poor but I wouldn't think of investing in that....unless I could afford to lose that 5MP.

How I approach many things....if I can't afford to lose it I don't do it. Maybe why I am cash poor.


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## lefties43332 (Oct 21, 2012)

cvgtpc1 said:


> Don't know if it's the skepticism of being cash poor but I wouldn't think of investing in that....unless I could afford to lose that 5MP.
> 
> How I approach many things....if I can't afford to lose it I don't do it. Maybe why I am cash poor.


Well...in pinas only unsured to 400000 php


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