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High-Interest DOLLAR Savings and Time Deposit Accounts

FutureGizmo · 159 · 100482

FutureGizmo

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We already have the thread for High-interest Peso Savings Accounts, but I want to know which banks offer high interest rates for dollar savings deposits. Post niyo rin po dito other pertinent info about the account, like minimum to open, maintaining balance, other benefits, other requirements, etc.
« Last Edit: Feb 23, 2007, 04:32 PM by FutureGizmo »


nailbiter

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Mula sa site ng Planters Bank:

Quote
Top Dollar Time Deposit

  • Earn 4.0% high interest in 1 year with US $30,000 deposit, plus FREE Personal Accident Insurance worth P2 million
  • Earn 3.50% high interest in 1 year with US $5,000 - $29,999 deposit, plus FREE Personal Accident Insurance worth P1 million
  • Earn 3.25% high interest in 1 year with US $1,000 to $4,999 deposit, plus FREE Personal Accident Insurance worth P 500 thousand
  • Interest earnings credited monthly to your USD Savings Account
  • Borrow up to 80% of your deposit in peso equivalent



allenwfc

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may dad currently has a dollar time deposit account iwth PSB his going rate is about 5+% gross
« Last Edit: Oct 30, 2006, 07:19 PM by nailbiter »


FutureGizmo

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@nailbiter, laki ng return ng Planters Bank, very enticing. pero laki din ng minimum deposit. Dollar Savings nila, tulad ng ibang bangko, interest rate ay 0.5% p.a.

@allenwfc, PSB is PSBank I assume? In the PSBank site, interest rate for their dollar savings deposit is 1%. If your dad's account is a dollar time deposit account, I think he invested at least $50,000 :confused: (probably even more) to get a 5% return.

Quote
Minimum Deposit      $500
Daily Balance to Earn    $500
Evidence of Deposit    Passbook
Interest Rate (per annum)    1.000%
Interest Crediting    Monthly
Service Fee    $5.00 if account falls below required average daily balance
« Last Edit: Oct 30, 2006, 02:23 PM by FutureGizmo »


chad

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Malaki nga yung sa Planters. Pumunta ako dun last month. Eto yung breakdown ng rates

Earn 3.25% high interest in 1 year with US $1,000 to $4,999 deposit

3.0% - 30-day plan
3.125% - 60-day plan
3.25% - 90-day plan

I guess the other ranges follow the same rule.



nailbiter

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Nagkamali pala ako nung i-post ko rito yung info re: Planters since time deposit nga pala siya. Giz, okay lang kung gawin na lang nating tungkol sa dollar accounts itong thread? Whether savings o TD?


tacamonchi

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Just deposited with citibank singapore- interest rate is 5.5% per annum for dollar deposits, net of taxes.  fifty percent of dollar deposit will terminate in 3 months while the balance of 50% can be withdrawn after a year.  So far, this is the best dollar time deposit offer and remember the rate is non-taxable since it is deposited in Singapore.


FutureGizmo

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Nagkamali pala ako nung i-post ko rito yung info re: Planters since time deposit nga pala siya. Giz, okay lang kung gawin na lang nating tungkol sa dollar accounts itong thread? Whether savings o TD?


Oops, last year pa pala 'to sorry. Binago ko na 'tong thread to accomodate both savings and time deposit dollar accounts.

Yung sa Planters, malaki nga. Ma-try pala yung dollar time deposit nila next time.

@tacamonchi, matagal ding paghihintay (1 year) bago mo pala makuha yung remaining balance mo jan sa citibank singapore. pero i agree the interest is already high for dollar time deposits there.

yung dollar time deposit sa korea, 4.25% kapag iteterminate mo after 1 week, tumataas to 5.5% kapag more than 6 months yung maturity.


tacamonchi

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Better lock-in with the current interest rates for dollar deposits.  Many believe that the federal reserve may gently but surely bring down interest rates in the future because the US economy is slowing down.  One thing for sure- dollar interest rates will not go down.  


4x

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^tacamonchi,

Could it be done here in the Philippines? Like an offshore-account or something??

4x


tacamonchi

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If you mean can you deposit in Singapore without going there? in my case, I just went to the local citibank in alabang and they told me of the ongoing dollar product they had in Singapore.  All transactions were done in alabang branch then i got the dollar check book and dollar ATM mailed to me from Singapore.  i was assigned a personal banker based in Singapore and she regularly calls me.  When she came here to the Phils., she scheduled a face-to-face meeting and fielded all my concerns.

Last november, I was in Guam and tried opening a bank account with two banks and both asked for a US SS number, which I don't have.  The highest rate they were giving for dollar deposits was 4.25%


4x

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^tacamonchi,

I see, that's good to hear but I was wondering how much did you open? and are bankers in Singapore that very friendly to clients? I mean, they could be like that when you have a large money transaction deposited right?

4x


tacamonchi

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I deposited the minimum 100k but i see what you mean.  I have been in singapore about 15 times for different reasons, and i do not remember ever meeting a singaporean who was rude. They may not be friendly like us but they are professional and frank.  And as far as my experience goes, they do not base their relationships on your economic status.  I have seen worse- try malaysians and hongkongers and even some filipinos.  

They have a product that is a type-up with Barings- citibank will guarantee the principal against any loss, and if my memory serves me right- the product is a mutual fund type.  You can earn anywhere from 0 to 9% but at least you are sure that there could not be any capital loss.  I am going to singapore tonight and hope to have time to visit their singapore office for the first time- i may have more info for anyone interested.  Just want to share higher earning possibilities for those with extra dollars.  i was thinking of investing in this medium- imagine no loss-risk with a possibility of earning 9% on the upside- but now I am more interested in putting in pesos in the rural banks and earn 20% interest, just making sure that all accounts are covered by PDIC.


nailbiter

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They have a product that is a type-up with Barings- citibank will guarantee the principal against any loss, and if my memory serves me right- the product is a mutual fund type.  You can earn anywhere from 0 to 9% but at least you are sure that there could not be any capital loss.  I am going to singapore tonight and hope to have time to visit their singapore office for the first time- i may have more info for anyone interested.  


Yes, do update us here in the forum once you find out more. Thanks tacamonchi.


4x

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