Here’s another safe and relatively high-yielding instrument to place your money in. Well, it’s not really “high-yielding” compared to returns of stocks, but compared to other savings or time deposit accounts in the market, this one has one of the highest interest rates.
The Citi e-Savings Plus provides the flexibility benefits of a savings account while enjoying the interest rate of a time deposit.
Unlike a regular time deposit account, it has no lock-in period, which means there is no pre-termination fee. You can withdraw your money anytime you want.
The interest rate is a high 4.75% per annum subject to the usual 20% withholding tax. The catch, though, is that this rate applies only to the portion above P100,000. For deposits below P100,000, it does not earn any interest.
To open an account, go to any Citibank branch or call their Customer Support Number 995-9999 in Metro Manila or 234 -9888 in Cebu.
Disclaimer: We are not, in any way, related to Citibank and neither are we endorsing its products. Pinoy Money Talk is merely reporting investment instruments currently available in the market.