Writer William Arthur Ward has this simple but extremely useful quote about money habits: “Before you spend, earn. Before you invest, investigate. Before you retire, save. Before you die, give.”
This essentially captures the correct money mindset everyone should have.
It also summarizes the time-tested process of how a person can make money and ultimately be wealthy: Earn, Save, Invest.
Here in PinoyMoneyTalk, we continue our compilation of “Save”-related articles by giving you information about various savings and time deposit accounts offered by banks in the Philippines. (For more information about these bank products, browse through our “Save” tab in the menu above or head over to our Banking and Bank products section.)
This time, we show you the interest rates of Metrobank’s Savings and Time Deposit accounts.
Metrobank Peso Savings and Checking Accounts – Interest Rates
| Peso Savings and Checking Account | Minimum Initial Deposit | Maintaining Balance | Balance to Earn Interest | Interest Rate |
|---|---|---|---|---|
| Passbook Accounts: | ||||
| * Passbook Savings | P 10,000.00 | P 10,000.00 | P 10,000.00 | 0.25% |
| * OFW | waived | waived | P 10,000.00 | 0.25% |
| * SSS Pensioner | P 100.00 | P 10,000.00 | P 10,000.00 | 0.25% |
| * US Pensioner | P 500.00 | P 500.00 | P 10,000.00 | 0.25% |
| Metrobank e-Teller (ATM): | ||||
| * Savings | P 2,000.00 | P 2,000.00 | P 10,000.00 | 0.25% |
| * OFW | waived | waived | P 10,000.00 | 0.25% |
| * SSS Pensioner | P 100.00 | P 100.00 | P 10,000.00 | 0.25% |
| Checking Account | P 10,000.00 | P 10,000.00 | N/A | N/A |
| AccountOne: | ||||
| * with ATM | P 25,000.00 | P 25,000.00 | P 50,000.00 | 0.25% |
| * without ATM | P 25,000.00 | P 25,000.00 | P 50,000.00 | 0.25% |
| MetroChecking Extra | P 15,000.00 | P 15,000.00 | P 15,000.00 | 0.25% |
| Fun Savers Club | P 500.00 | P 500.00 | P 4,000.00 | 0.25% |
Metrobank Foreign Currency Accounts – Interest Rates
| Foreign Currency Accounts | Minimum Initial Deposit | Maintaining Balance | Balance to Earn Interest | Interest Rate |
|---|---|---|---|---|
| MetroDollar Savings (USD) | US$ 500.00 | US$ 500.00 | US$ 500.00 | 0.125% |
| US Pensioner | US$ 100.00 | US$ 100.00 | US$ 500.00 | 0.125% |
| US Dollar Checking | US$ 10,000.00 | US$ 10,000.00 | US$ 10,000.00 | Non-interest |
| Fun Savers Club | US$ 100.00 | US$ 100.00 | US$ 200.00 | 0.125% |
| Japanese Yen (JPY) | ¥ 50,000.00 | ¥ 50,000.00 | ¥ 50,000.00 | 0.005% |
| British Pound (GBP) | £ 600.00 | £ 600.00 | £ 7,000.00 | 0.250% |
| Euro (EUR) | 500 | 500 | 500 | 0.050% |
| Swiss Franc (CHF) | F 2,000.00 | F 2,000.00 | F 15,000.00 | 0.000% |
| Canadian Dollar (CAD) | CA$ 2,000.00 | CA$ 2,000.00 | CA$ 2,000.00 | 0.250% |
Metrobank Peso Time Deposits – Interest Rates
| Peso Time Deposit Accounts | 1 day to 1 week | 2 wks | 3 wks | 1 month | 2 to 3 mos. | 6 mos. to 1 year |
|---|---|---|---|---|---|---|
| P 10,000 - 49,999 | - | - | - | 0.25% | 0.25% | 0.50% |
| P 50,000 - 199,999 | - | - | - | 0.25% | 0.50% | 0.75% |
| P 200,000 - 499,999 | - | - | - | 0.375% | 0.625% | 0.875% |
| P 500,000 - 999,999 | - | - | - | 0.50% | 0.75% | 1.00% |
| P 1,000,000 - 4,999,999 | 0.25% | 0.25% | 0.50% | 0.625% | 0.875% | 1.125% |
| P 5,000,000 - 9,999,999 | 0.25% | 0.25% | 0.50% | 0.75% | 1.00% | 1.25% |
| P 10,000,000 - 19,999,999 | 0.50% | 0.50% | 0.75% | 0.875% | 1.125% | 1.375% |
| P 20 Million & up | 0.50% | 0.50% | 0.75% | 0.875% | 1.125% | 1.375% |
Metrobank Dollar Time Deposits – Interest Rates
| Dollar Time Deposit Accounts | 1 week to 3 weeks | 1 month | 2 mos. | 3 mos. | 6 mos. | 1 year |
|---|---|---|---|---|---|---|
| $ 1,000 - 9,999 | 0.25% | 0.25% | 0.25% | 0.25% | 0.50% | 0.75% |
| $ 10,000 - 49,999 | 0.25% | 0.25% | 0.25% | 0.375% | 0.75% | 0.875% |
| $ 50,000 - 99,999 | 0.25% | 0.25% | 0.25% | 0.50% | 0.875% | 1.00% |
| $ 100,000 - 499,999 | 0.25% | 0.50% | 0.50% | 0.75% | 1.125% | 1.25% |
| $ 500,000 - 1,000,000 | 0.25% | 0.75% | 0.75% | 1.00% | 1.50% | 1.625% |
Earn, save and invest to become wealthy and financially free!
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