And interest rates continue to go down…

February 4, 2009 at 7:27 am 2 comments


I just checked Chinabank’s website and effective Jan. 30, 2009, the interest rates for its time deposit accounts went down again. This time, by 0.25%. The minimum interest rates for the Diamond Savings is now at 3.25%.

While Chinabank’s interest rates are still way better than the traditional banks like BDO, BPI and Metrobank, I wasn’t happy with what I was receiving (see related story). So last Monday, I went to Chinabank Fairview, Quezon City branch and pulled out all my money in the Diamond Savings. Instead, I placed everything in my employee savings plan, a savings program set up by the company I work for. On the average, I get to earn about 7 to 10%.

chinabank_feb41

Meanwhile, I read Philippine Star and saw another ad for PSBank’s Prime Time Deposit. A few days back, it was at 5.5% interest rate for a minimum deposit of Php50,000. As of today, Feb. 4, 2009, the interest rate for the same product is 5%.

psbank

Looks like bank’s interest rates are going down…

Entry filed under: Banking, money tips, Savings. Tags: , , , , , , , , , , .

Robinsons Bank Choice Savings Account (Feb. 3, 2009) A piece of good news amidst the crisis

2 Comments Add your own

  • 1. Reel Advice  |  February 7, 2009 at 3:16 am

    hi there!

    i am actually looking now for banks with great TD rates. From a month even to a year! Any advice? Thanks!

  • 2. pinayandmoney  |  May 21, 2009 at 3:23 am

    please visit our new home at http://www.pinayandmoney.com. i’ve posted several time deposits from different banks. you may find one that you like best.

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