please explain how time deposit works?

[fourtheboys96]

if they say 6% interest??? is it per annum??

if i invested 100K in a time deposit how much will it earn after 30 days for the given interest rate???

[Walter]

if they say 6% interest??? is it per annum??

if i invested 100K in a time deposit how much will it earn after 30 days for the given interest rate???

100T x 6% / 12 months less 20% tax

[CVT]

Yes, it is per annum.

It is approx 100K*6%*80%/12... (Walter is right about the 20% final tax)....

6404:pump:

[tidus1203]

Kung time deposit yan nakalagay na yan sa papel magkano makukuha mong interest after 30 days.

[fortuner13]

exact computation........

100,000 x 0.06 / 360* x 30** x 0.8*** = 400.00 (for 30 days)

* no. of days in a year, they always 360 (not 365 or 366)
** duration of your placement in no. of days
*** 20% withholding tax (daw )

[fourtheboys96]

ok tnx!!!

wala naman tax yung plano kong paglagyan pero maliit pa din ang kita. pero ok na din kasi safe naman. dun muna ako sa safe bago mag explore ng iba pa.

[ianmitsulancer]

is it mandatory for all banks to have 6%for the interest rate? which bank can give the highest...

is this different from Metrobank's UNISA?

i also inquired about BPI family's time deposit where you money will be locked for 5 years and the interest will deposited in an ATM... how good is that?

[tidus1203]

Time deposits are only good places to pout short term money. I wouldn't tie my money 5 years into time deposits since inflation is gonna kill it. Remember our inflation is like 12% currently. SO your money is only growing 6-7% but prices go up 12% so lugi ka pa.

[boybi]

is it mandatory for all banks to have 6%for the interest rate? which bank can give the highest...

is this different from Metrobank's UNISA?

i also inquired about BPI family's time deposit where you money will be locked for 5 years and the interest will deposited in an ATM... how good is that?

AFAIK, hindi covered ng PDIC ang UNISA. Yung regular time deposits covered up to 250K.

[boybi]

is it mandatory for all banks to have 6%for the interest rate? which bank can give the highest...

is this different from Metrobank's UNISA?

i also inquired about BPI family's time deposit where you money will be locked for 5 years and the interest will deposited in an ATM... how good is that?

AFAIK, hindi covered ng PDIC ang UNISA. Yung regular time deposits covered up to 250K.

[jeDi13]

ok tnx!!!

wala naman tax yung plano kong paglagyan pero maliit pa din ang kita. pero ok na din kasi safe naman. dun muna ako sa safe bago mag explore ng iba pa.

hmm. it's mandatory for banks to deduct 20% of the total interest for tax. so i'm wondering what bank is giving a 6% interest tax-free time-deposits.

[tidus1203]

If the deposit is 5 years or longer its tax free... However, 6% for 5 years lock period is suicide. Sa inflation pa lang patay na patay ka na...

[tanoshi]

Buhayin ko lang ito ha. based on BPI regular TD for 100k, which is better, 35 days (1.375%) or 365 days (1.875%)? paano ba na co-compute ang mga ito?