Opening a time deposit account in the Philippines? A good return on your investment should be your bottom line. If you’re keen on earning maximum returns, a multi-currency account is your best bet. You can open a GoTyme Bank multi-currency time deposit account for as low as US $1, which you can deposit in PHP.
USD Time Deposit vs. PHP Time Deposit
While there’s nothing wrong with opening a Peso time deposit account with your traditional bank, a USD time deposit with GoTyme Bank shows more earning potential. It’s also easier, more accessible, and friendlier to personal finance newbies— a no-nonsense product that will benefit anyone with financial goals. Here are some of its benefits:
- Earn from currency appreciation. Currency appreciation can affect the returns on a time deposit account, especially if the deposit is held in a foreign currency. When the USD appreciates against the Philippine Peso, the value of your deposit also increases.
- Gain interest on your dollars. GoTyme Bank offers an introductory rate of 5% interest for either three or six months—even if these rates remain constant, your USD time deposit account retains dollar value and boosts your returns overall.
- Lower withholding tax on your time deposit. Foreign currency time deposit accounts usually incur high taxes. Enjoy a lower withholding tax of 15% with a GoTyme Bank USD time deposit.
- Protect your investment. Holding time deposits in different currencies diversifies your investment portfolio and reduces the risks that come with currency movements. It can also protect your money against Peso inflation and preserve the purchasing power of your funds.
Open your GoTyme Bank USD time deposit account now, and get satisfying returns on your investment.
