anong ok na savings bank?

[1D4LV]

Originally posted by gretzy
marvin, halos magka-age lang tayo, bat may pera ka at ako wala?

si mbt eh chinese, dami negosyo....
nihao mbt... :D

[RedHorse]

pasok ka sa stocks...

[the_wildthing]

What's your purpose?

- long term savings? 15-20 years? I'd go with equity-based mutual funds
- medium term savings? 5-15 years? I'd go with government bonds or bond-based mutual funds.
- short term savings? 1-5 years, yep, coops, rural banks, time deposits, money market funds, and the rest they mentioned above are ok. There's always a risk factor of the institution closing down or running away with your money, so always check the background.
- < 1 year, or something that you need to pull out for emergencies, only a regular savings account can be that liquid, and yes, you get 1-3% at most.

If you want to hear more about mutual funds from a reputable financial services institution, do PM me your land line and a good time to call you.

[FrankDrebin]

Hmmm..

ei guys anyone of you have deposited or planning to use AMA 5 or 6(?) double your money promo?

To mbt,
My wife and I uses BPI Family, BPI, Allied and PS Bank. Ok naman sila.

[badkuk]

Frank, research mo ng kaunti ung financial standing ng AMA group...hanggang jan lang po ang masasabi ko ;).

[syokoy]

I have read the comparison of interest rates as published in Buy and sell a month ago and AMA is offering the highest interest rate for time deposit in all brackets eg 100k to 500k and up. Not sure if they are a member of PDIC, if not, tagilid yata doon. If they are a member then maybe an investment of not more than 250k is ok. Di ba 250k na ngayon ang max covered by PDIC?

[jolog1]

mbt, kung small amount lang you should go for convenience. Go to your nearest bank na lang. 1% annual interest isn't worth walking across town for. Pick a bank that accepts Meralco, PLDT, cable TV, and Maynilad payment. It'll make your life easier.

If you are looking for time deposit, it's hard to beat Banco de Oro's Premium Growth Fund. It's 7.5% annual interest for 30 days, P100k ang minimum. The lower the deposit, the lower the interest rate.

If you have a lot of cash, I recommend you convert them to US dollars and put it in BDO's US dollar time deposit. You can get around 3.5% annual interest plus the peso devaluation which is around 6% per year. I think the term is also 30 days. China bank offers around 2%. I would go with BDO simply because they always have nice looking female employees.

You could also try Pag-ibig bonds. It's 8% annual interest, P5,000 minimum, 5 year term and no withholding tax. For every P5k bond, you get P200 back each year. This one is fully backed by Philippine government. All time deposit you get from banks aren't 100% guaranteed, only P250k per account name are guaranteed.

hmmm... that's all I can remember right now. Did I mention Banco de Oro's female employees are nice looking?

[Kicker15]

basta bpi pa din... hanggang ngayon stable pa din sila

[fierari]

BPI din ako ok yung yung mga online thingy nila pati bill payment

[usokpower]

yep savings nag kalat talaga ng lagim ng atm machines ang bpi sa ibat ibang lugar

savings ka muna tapos time deposit tapos treasury bills or bonds or trust marketing

[mbt]

wow salamat sa lahat ng inputs!

wala akong alam sa banking and personal finance hehehehe... ano ba kaibahan ng time deposit at trust funds sa regular savings accounts? higher interest rates provided you don't deposit or withdraw within the specified term? what are the risks of time deposits and trust funds? on the flip side, ano naman yung pros ng regular savings account given the tiny interest?

same for bonds and t-bills...? hehe

kung ATM account naman, diba iba iba yung networks ng ATM machines? alin ba yung pinaka accessible na network (most number of machines in the metro)? kaso kung kumuha ako ng ATM account baka maubos ko yung pera ko sa kagagasta e hehehehe

centum,

bakit big-time yung HSBC?

jolog1,

:bwahaha: ibang interest yata hanap mo sa bank

gretz,

bwahahaha... wala nga akong pang deposit e, para lang mapilitan akong mag-ipon para sa Patrol ko... at bagong phone hehehehehe

[mbt]

mazdamazda,

hmm ano ba examples ng rural at coop banks?

[tagalnasaabroad]

yes folks, go after stable & reputable banks..

savings account pag barya-barya lang as start-up savings for kids perhaps;

pero pag milyones na datung nyo at natutulog rin lang invest nyo na sa real estate ventures.. hekta-hektaryang idle lands tend to appreciate exponentially as years unwind..

kilan kaya ako mananalo sa mega lotto???

[levi]

Ako Manilabank. Checking na, may atm, may passbook and interest pa.

[badkuk]

pag sa ATM networks, interconnected na naman ung BancNet and Megalink, so i guess BancNet/Megalink banks have the biggest ATM network. BPI and BDO are on Expressnet i think, and medyo limited ang number of ATMS. The upside is that ung kapwa nilang sister companies -- i.e. ayala malls for BPI, SM department stores for BDO -- usually have their own ATMS inside the store/mall.

i think the reason why HSBC and Citibank are considered big time is because of the minimum amount you need to deposit for a savings account(tama ba centum?). about a few years ago, minimum ng Citibank is 300k -- for that kind of money, di ba it makes sense to put it on time deposit or bonds? e kung madukot ATM card mo, babay na 300k mo


advantages ng savings deposit? hmmm, i guess accessibility(ATMs), low minimum maintaining balance. i think that's about it.


time deposits used to have the drawback of you not being able to withdraw your money for a period of time, but in recent years banks have been offering a lot of "hybrid" deposit schemes thats sort of like time deposit, but more accessible(i.e. higher rates, and you can withdraw 2x in a month, etc)

bonds also offer higher rates, and terms can range from 45 days to longer, pero ung nakikita kong drawback is that it's not PDIC insured

treasury bills are also good, especially when the stocks are down in the dumps...i think the tendency is that if the stocks are doing badly, interest rates on t-bills tend to go up. merong 91-day, 182-day, and longer time periods, all with their own minimum amounts and interest rates. ang drawback dito is the amount -- 1m ata for 91-day t-bills(not sure). if you trust your friends and relatives, you can actually pool your money and get t-bills...but the keyword here is "trust" ;)

which brings me to retail treasury bonds. i guess this is the poor man's version of t-bills. basically what happens is: the government asks the big banks to bid for bonds, which the banks then break up into smaller bonds, which they offer to the public(hence the "retail" tag).

usual terms are 5k minimum, 10.+ % for 3 years, 11.+ % for 5 years. They're being offered from time to time(most recent is last July 13-15), pero you can still get them from certain banks at slightly lower interest rates anytime. i think the usual procedure is that the bank will ask you to open a savings account where they will credit the interest earnings to. at maturity, you can surrender the RTB for the participating amount, plus the interest earnings on your savings account.

[1D4LV]

Originally posted by mbt
mazdamazda,

hmm ano ba examples ng rural at coop banks?

these are local banks, which cater, mostly to residents of these towns...

examples: rural bank of san miguel bulacan, rural bank of paranaque, etc..

[jolog1]

Originally posted by levi
Ako Manilabank. Checking na, may atm, may passbook and interest pa.

Do some background check on Manila Bank, tagilid na yan. 2 banks you should avoid right now is Banco Filipino and Manila Bank.

[theveed]

BDO Smart Money Funds... ok sya, 10K min... mabilis earning... IMO di worth it ang savings account, at 1% per annum, bawas mo inflation at tax, lugi ka pa.

Personally, among local banks, BDO, Ibank ako... I absolutely hate BPI and Metrobank service... Especially BPI...

IBank sobrang OK, kung may checking account ka lahat ng branch pwede mo encash, unlike mga iba you have to go to the branch itself pa or deposit.

BDO naman, super advantage an operating hours, up to 5PM... Which SHOULD be the case, lintek dito lang sa Pinas ako nakakita ng banking system na nagsasara before working hours. Mall branches are open sa weekends din. And sya pinaka OK magpalit ng $.

BPI ok lang sya IMO kung kukuha ka ng BPI credit card, useful sobrang ang BPI Credit kasi good as cash, no surchage usually pag purchasing big ticket items sa mall.

International Banks, kung bumyabyahe ka, nothing beats Citibank, kahit anong bansa pwede ka mgatransact...

[revoGSX]

ako BPI, payroll kasi namin nasa BPI kaya na-enquire ko agad sa internet kung pumasok na sweldo ko hehe ( www.bpi.com.ph ) ...

sa bpi internet banking na rin ako open ng time deposit at dun ko na din i-close yung time deposit anytime na gusto ko.. hindi na ako pila sa bank..

pati balance ng credit card at auto loan ko kita ko din sa bpi online...

[badkuk]

oh btw, depende sa location, bdo branches are open on saturdays