Chinabank lowers interest rates for time deposit
Just a month after Chinabank increased the interest rates for its Diamond Time Deposit, effective Jan. 6, 2009, the bank lowered the interest rates to 4.75% for the PhP50,000 to 199,999 bracket (see related story).
And there’s more. Chinabank no longer offers the 90-day holding period for its time deposit. I wonder why they changed it. Below is the new interest rate table for the said time deposit:
And here’s the new interest rate table for the regular time deposit of Chinabank:
If you’re wondering what’s the difference between the regular TD and Diamond TD, the only basic difference is that the bank will shoulder the documentary stamps for the Diamond TD. And, of course, your balance cannot go under PhP50,000.