which bank to save $$ ?

[mrpink]

.. does anybody know which bank offers the best rates for dollar savings accounts ? .. i'm just talking about a few thousand bucks ..

[Juan Tamad]

Sa BPI.. Get there Global Fund.. Ok ang rate.

[ILuvDetailing]

If your after high interest rates put it in a time deposit. AFAIK the best rates for time deposit in local banks are around 1++% while time deposit rates are around 2.5%. Inquire with BDO and CBC, from our experience ok naman rates nila

[111prez]

HSBC. rates may not be that competitive but at least you know its a very stable banking institution

[BlueBimmer]

if u know the bank manager u'll get slightly higher rates..RCBC gives me 2.6++% on my DTD.

[ts1n1ta]

kame naka time deposit sa PSBAnk for one year 7% per annum. sa Security bank 5% lang. i don't know sa ibang banks.

[the_wildthing]

If you are looking to earn money, a savings account or time deposit will give low interest, way below the inflation rate. Of course, taking into account the currency, you are protected in a way, if you spend it here.

There are other investment alternatives for your US$, like dollar denominated insurance, dollar mutual funds, and the riskier kind like foreign exchange trading.

As always, the higher the possible return the higher the risk. It's how much you can take and how much you're willing to lose.

[mrpink]

.. i opened a $ account in BPI for no reason at all other than siya yung pinaka-malapit na banko sa amin at ayoko nasa drawer lang yung pera .. i don't even have any idea what their rates are .. ngayon na medyo nahimasmasan na ako .. ngayon pa lang ako nag-re-research ..

ok yung 7% mo tsinita .. pero baka naman ang laki kasi ng deposito ninyo ..

not looking into investments (yet) .. but thanks for the info wildthing ..

[totoybato]

ang laki yata ng 7% for a US dollar denominated TD? not even the 91 days Tbills yields that much,

[Juan Tamad]

Malamang for peso yan 7% rate... Dollar rate usually at around 3 to 4% only..

[ts1n1ta]

iba iba rate ata depending kung magakano ang TD.

[totoybato]

malaki siguro ang TD nila Tsinita, hehehe

[ts1n1ta]

sa Security bank meron sila minimum of $2500 - 30 days renewable (TD) 3% ang rate. Sa UCPB - 30 days renewable only 2%.

[totoybato]

mataas nga yang rate niyan, kung mga $10K to $15K, magkano kaya?

[ILuvDetailing]

ts1n1ta: Ilang ba yung duration ng TD mo? Laki ng binigay sa inyo ah... Big Time!

[jedi]

sa exportbank medyo mas malaki, check nyo sa website nila... www.exportbank.com.ph my wife is working there baka pwede nya kayo irefer sa manager to get higher rates

[boybi]

kame naka time deposit sa PSBAnk for one year 7% per annum. sa Security bank 5% lang. i don't know sa ibang banks.

USD ba yan or peso? napakalaki naman ng interest rate

[mazdamazda]

We get around a 15% P.A. interest for our savings acount. ;)

[ILuvDetailing]

mazda2: ang laki ah, pwede pa PM yung details?

[mazdamazda]

no need to PM...

most rural & cooperative banks offer that kind of interest rate (depends on your relationship with the bank manager). just limit your deposit to P250,000 for each account (so that it'll be covered by the PDIC should the bank close).