PBCom recently announced the launching of two new term deposits, namely
the PBCom Passbook TD and the PBCom TD Prime. Both
are offered nationwide through PBCom's 64 branches.
The PBCom Passbook TD is a short-term time deposit with features similar to a
regular TD, except that its instrument is the passbook. Allowable terms are
30, 60, 90, 120, 180 and 360 days and the minimum deposit requirement is P50,000.
Interest rates are higher than a regular savings account. If deposit is allowed
to mature, the cost of Documentary Stamp Tax will be shouldered by the Bank.
PBCom TD Prime, on the other hand, is a high-yielding one-year time deposit.
It is an excellent investment alternative considering that clients earn as high
as 11% p.a. gross throughout the entire term. Minimum deposit requirement is
P1 Million and required tenor is 1 year. Barring any pre-termination of deposit,
client will enjoy free Documentary Stamp Tax.
The launching of the two products echoes the transformation of PBCom and re-affirms
its commitment to offer quality products and services to customers.