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Doble-Doble sa Power Saver: Tax Free Time Deposit with High Interest (Philippines)

Last night I was doing some research about time deposit products here in the Philippines that could offer me a good interest rate. I had a long list of banks here in the Philippines as a guide for me on my research.

The criteria I had in my research are the following:

* Interest Rate
* Credibility and Financial Standing of the bank
* Minimum Placement
* Duration of Time Deposit

I found a lot of banks which offered great interest rates but required a large minimum placement. Other banks which offered high interest rates and small minimum placements were also relatively new and had no large company as a major stockholder.

After hours of research I finally stumbled into a website which had a homepage with a huge ad saying save small earn big. I decided to read further on the site and found some details which made me interested on the bank. This morning I called up their branch here in Cebu and the branch manager confirmed that the product in their ads is in fact true and gave me the requirements.

After reading about their stockholders and researching about the background of the back I decided to invest a small amount in the bank. My confidence in the bank grew bigger after I saw most of their major stockholders were coming from big and trusted companies here in the Philippines.

here are the details of the Product.
Bank: Malayan Bank (not to be confused w/ maybank)
Take advantage of this unique high-yielding deposit! With a minimum monthly placement of Php 500, you can earn a guaranteed interest of 8.5%p.a.

The bank also offers other products asides from this. Just visit their website to know more about their other products.

Source: Malayan Bank

BPI Save-up, A Savings Account Bundled with a Life Insurance.

I found this great product from BPI that I want to share with others. A lot of savings account offer minimal interest for placing your money in the bank. BPI has made a product that provides a different incentive to depositors. They have a savings account that includes insurance to the product.

Savings account with Life Insurance

Below are the mechanics from their website.

Introducing - - BPI Direct Save-Up
Automatic Savings and Insurance that help you achieve your life goals, payday after payday.


Start your automatic savings with no initial deposit. Build it up payday after payday and earn higher interest as your balance increases. Do all these while enjoying a low monthly maintaining balance of only Php 1,000.


Remain in control as you set aside a portion of your income automatically each payday. Decide how much and how often you want to save from your payroll account and transfer it automatically to your BPI Direct Save-Up account.

Start saving for sure for things that matter for as low as Php250. Just choose from among the following frequencies:

• Once a week
• Every other week
• Once a month
• Twice a month

Got a bonus? You can also transfer funds anytime to your BPI Direct Save-Up.

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