anong ok na savings bank?

**mbt** · July 29th, 2004 11:16 PM

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** · July 29th, 2004 11:29 PM

mazdamazda,

hmm ano ba examples ng rural at coop banks?

**tagalnasaabroad** · July 30th, 2004 12:58 AM

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** · July 30th, 2004 01:57 AM

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

**badkuk** · July 30th, 2004 10:55 AM

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** · July 30th, 2004 11:49 AM

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** · July 30th, 2004 01:23 PM

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** · July 30th, 2004 02:30 PM

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** · July 30th, 2004 03:01 PM

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...