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If you want to open a bank account in BDO, just follow the procedures below and complete the needed requirements in opening an account. 1. Visit the BDO bank of your choice and bring the following requirements for opening a bank account. It would be better to go to SM mall, for sure there is a BDO bank inside.

Two (2) valid and recent IDs with your name and picture Two (2) Photocopies of your ID IDs acceptable for opening a savings account can be: Passport, Drivers license, PRC ID, NBI clearance, Police clearance, Postal ID, Voters ID, Barangay certification, GSIS eCard, SSS ID, Philhealth card, Senior Citizen Card, OWWA ID, OFW ID, Seamans Book, Alien Certification of Registration/Immigrant Certificate of Registration, and other Government office IDs Billing Statement and 2 photocopies in order to verify your address. Billing statement can be Electric bill, Telephone bill, Water bill, Credit Card bill, Cellphone bill etc. TWO (2) copies 11 latest ID picture

2.) Upon entering the bank, proceed to New Account Desk. Tell the bank officer you want to open a bank account and then fill-up all forms that will be given to you. 3.) Give the initial deposit for your savings account. Your initial deposit should be equal or more than the maintaining balance. Banks allowed the initial deposit to be below maintaining balance when opening an account but you need to add money later to it so that it will be above maintaining balance. Minimum Initial Deposit for BDO Savings Account Account Type Minimum Initial Deposit

Peso Passbook Savings Account (with or Php 5,000.00 without ATM) Peso ATM (without passbook) Php 2,000.000 Kabayan Peso Savings Account Php 50.00 Peso Savings Account Payroll Php 100.00 Junior Savers Club Php 500.00 Power Teens Club Php 2,000.00 Club 60 Peso Php 5,000.00 Direct Deposit Peso Savings Account Php 0.00 Smart Guarantor Php 60,000.00 Optimum Savings Account Personal Php 30,000.00 Optimum Savings Account-Commercial Php 50,000.00 Super Savings Php 100,000.00 Super Savings ATF Php 100,000.00 4. Claim your BDO ATM card or passbook which normally available for pick-up after 3-5 banking days. In opening a BDO bank account, it is advisable to bring all requirements for quick processing and approval of your account.
Hello JDy, I did a research on the current rates of time deposits here in the Philippines and so far I found LBC bank, Planters Bank, China Trust and Equitable Savings Bank that offers the highest rates. You have to place your deposit for at least 5 years so that it would be tax exempted. The rates and products are Planters Bank Premium Five 6.25% P.A. (net), China Trust Innovate 6.25% P.A. (net)LBC Bank Royal Earner 8% P.A, and EQSB Supersaver Plus 8.9977% P.A. All these rates are for 5yrs time deposit and are all covered by PDIC. I hope this information is useful to you.

LBC Bank (Royal Premium) -Min Deposit: P10,000.00 - Interest Rate: 7.50% - Duration: 1 Year

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Most high interest time deposits are usually long term. Interest is tax free if you place your money in a long term time deposit. It must be placed in a 5 year time deposit in order you the interest to be tax free. Here are the banks that I mentioned above, the products they offer and the interest rate of the time deposit. 1. Malayan Bank (Doble Doble sa Power Saver) - Min. Deposit: P1000.00 per month / P60,000.00 Lump Sum - Interest Rate: 8.5% - Duration: 5 Years - Tax Free 2.Development Bank of the Philippines (Double Your Money) - Min. Deposit: P50,000.00 - Est Interest Rate: 8.0% - Duration: 9 Years - Tax Free 3. Green Bank -Interest Rate: 8.0% - Duration: 5 Years - Tax Free 4.LBC Bank (Royal Premium) -Min Deposit: P10,000.00 - Interest Rate: 7.50% - Duration: 1 Year 5.Planters Bank (Premium 5) - Min. Deposit: P50,000.00 - Interest Rate: 6.00% - Duration: 5 Years - Tax Free Asides from the banks above you might want to check out Banco Filipino's , East West, PS Bank, PB Com and Land Bank. They also offer high interest rates but not as high as the mentioned banks above

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