China Bank launches Tax-Free Five-year Time Deposit
A lot of banks have been doing this for the past few years and Chinabank isn’t going to be different:
China Banking Corporation (China Bank) has launched Money Lift Quarterly. A five-year-and-one-day time deposit product that offers high interest rates from 4.00%* p.a. for a minimum P50,000 to as high as 4.75%* p.a. for P1 million and above – tiered rates apply for other deposit amounts, substantially higher than other regular savings and time deposit accounts. Best of all, interest earned is tax-free (free from witholding tax if held to maturity) and paid out quarterly. Much more, document stamp taxes
| Amount (Peso) | Interest Rate (Quarterly) | ||
| P 50,000 – P 199,000 | 4.000% | ||
| P 200,000 – P 499,999 | 4.250% | ||
| P 500,000 – P 999,999 | 4.500% | ||
| P 1,000,000 and Up | 4.750% | ||
| Interest rates may be reviewed and updated by the Bank at any time. The new interest rates will be applicable to NEW placements. (Deposit preterminated or withdrawn before its maturity date shall earn applicable interest and subject to the prescribed withholding tax, depending on the length of time the funds are invested with the Bank.) Effective September 14, 2011 | |||
0 comments
Kick things off by filling out the form below.
Leave a Comment