please explain how time deposit works?

**fourtheboys96** · July 10th, 2008 08:53 PM

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** · July 10th, 2008 09:14 PM

Originally Posted by 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???

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

**CVT** · July 10th, 2008 09:14 PM

Yes, it is per annum.

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

6404:pump:

**tidus1203** · July 10th, 2008 10:20 PM

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

**fortuner13** · July 12th, 2008 07:53 PM

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** · July 12th, 2008 10:23 PM

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** · September 21st, 2008 11:47 PM

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** · September 22nd, 2008 09:17 AM

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** · September 22nd, 2008 12:49 PM

Originally Posted by 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?

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

**boybi** · September 22nd, 2008 12:49 PM

Originally Posted by 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?

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