Chinabank lowers its interest rates again (Jan. 20, 2009)

January 22, 2009 at 1:27 am 2 comments


Just a few days ago, I posted that Chinabank lowered the interest rates for its time deposit accounts, effective Jan. 13, 2009 (see related story). In just a week, Chinabank again lowered the interest rates. This is the third time since the start of the year and the move is a disappointment for many of its time deposit account holders, including me.

Effective Jan. 20, 2009, the interest rates for the Diamond Time Deposit is posted below. Chinabank lowered its interest rates by 0.25%.

chinabank1

 And here is the interest rate for the regular time deposit:

regulartd3

 As it is, I’m already thinking of pulling out my money from Chinabank and place it in First Country Bank (see related story). At least, my money in FCB earns 5.75%. If Chinabank continues to lower the interest rates, I may just pull out everything.

Entry filed under: credit card, money tips, Savings. Tags: , , , , .

Citibank answers issue on staggard payments PSBank’s Prime Time Deposit (Jan. 22, 2009)

2 Comments Add your own

  • 1. clod briones  |  June 6, 2009 at 5:26 am

    i’m not familiar with the phil time deposit.

    if i put 5 million peso in a td, can i take out a portion of the interest earned every month and leave the principal plus whatever interest i did not withdraw to earn more until maturity?

    can you give me an example?

    thanks

  • 2. pinayandmoney  |  June 7, 2009 at 12:03 am

    hi, clod. yes, that’s how it works. most time deposit allows you to take out the interest earned. some also allows you to make partially withdraw the principal. other time deposits like the one-year/2-year or 5-year are locked and will not allow you to partially withdraw the principal.

    pls visit http://www.pinayandmoney.com for the updated Pinay and Money blog.

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