Saving money is very important as it will help you to be prepared for the uncertainties of life. At times, you might be faced with situations that will bring with them many financial burdens. Your monthly income may not be enough to deal with such burdens and so it is advisable that you save money and be prepared for such uncertain events in life. A fixed deposit scheme from a reputed bank such as the Philippine National Bank can be the ideal investment plan for those who want to save money. Philippine National Bank Fixed Deposit scheme will not only help you to save money but will also help you to earn interest and grow your financial assets.
Overview of the Philippine National Bank
The Philippine National Bank (PNB) was established in 1916 and is the largest bank in the island nation of Philippine. It has around 330 branches in the island and around 13 branches in foreign locations. Initially the bank was under the control of the government of Philippines but in due course of time it became a private bank after it was acquired by industrialist Lucio Tan. The bank offers a range of financial and banking products in Philippine and also in a few other countries through its overseas branches. In Singapore, the Philippine National Bank offers fixed deposit schemes in US Dollars and PESO.
Why Choose Philippine National Bank Fixed Deposit Scheme?
If you are looking for a time deposit scheme that will offer you with the flexibility of making deposits in foreign currencies, you should opt for PNB Fixed Deposit Scheme. You will benefit from flexible tenures, high interest rates and a variety of other beneficial features. The process of opening an account under the Philippine National Bank Fixed Deposit Scheme is very simple and you will not need be required to submit a lot of documents. It will help you to save money without any hassle.
Philippine National Bank Fixed Deposit Singapore
The Philippine National Bank does not have a robust presence in Singapore but it does provide essential banking and financial services that are very beneficial to Singaporeans and Filipinos living and working in Singapore as they can easily remit money to their country without paying a lot of money as a fee for international funds transfer. The Philippine National Bank Time Deposit scheme is very beneficial to those Singaporeans who would like to save money in US Dollars and earn a higher percentage of interest on the deposit amount.
Features and Benefits of Philippine National Bank Fixed Deposit Scheme
- You can open a time deposit account in either US Dollars or Peso.
- The account will be maintained in Singapore and you can also withdraw the deposit amount in Singapore itself.
- You can open a fixed deposit account with a minimum initial deposit of USD 1,000 or PHP 10,000.
- You can choose from flexible tenures of 30 days, 60 days, 90 days, 180 days and 360 days for US Dollar deposits and 30-90 Days, 90-180 Days and 181-360 Days for deposits in Peso.
- Photocopies of your passport and NRIC (both sides), E Pass, S Pass or Work Permit.
Philippine National Bank Fixed Deposit Interest Rate 2018
US Dollars Term Deposits
|PRINCIPAL||30 Days (p.a.)||60 Days (p.a.)||90 Days (p.a.)||180 Days (p.a.)||360 Days (p.a.)|
|USD1,000 to USD4,999||0.125%||0.1875%||0.25%||0.375%||0.625%|
|USD5,000 to USD9,999||0.125%||0.1875%||0.25%||0.375%||0.625%|
|USD10,000 to USD49,999||0.375%||0.375%||0.5%||0.625%||0.75%|
|USD50,000 to USD99,999||0.5%||0.5%||0.625%||0.75%||0.875%|
|USD100,000 to USD499,999||0.625%||0.625%||0.75%||0.875%||1%|
|USD500,000 and above||0.625%||0.625%||0.75%||0.875%||1%|
PHP Term Deposits
|PRINCIPAL||30 - 90 Days (p.a.)||90 - 180 Days (p.a.)||181 - 360 Days (p.a.)|
|PHP10,000 to PHP49,999||0.2%||0.2%||0.2%|
|PHP 50,000 to PHP 249,000||0.4%||0.4%||0.4%|
|PHP 250,000 to PHP 499,999||0.4%||0.5%||0.5%|
|PHP 500,000 to PHP 999,999||0.5%||0.6%||0.6%|
|PHP 1,000,000 to PHP 4,999,999||0.6%||0.7%||0.7%|
|PHP 5,000,000 and above||0.7%||0.8%||0.9%|
Note: The interest rates mentioned above are applicable only for the Singapore branch of the Philippine National Bank.
Other Products Offered By Philippine National Bank in Singapore
In Singapore, Philippine National Bank overseas branch through which it provides Filipinos working in Singapore a simple and convenient manner to remit money to Philippines. It also offers them with term deposit schemes in USD and Peso. However, apart from these services that bank does not offer any other service through its overseas branch in the island.
Philippine National Bank Fixed Deposit FAQs
- What is the minimum and maximum tenures offered with Philippine National Bank Fixed Deposit Scheme?
- In which currencies can I open a time deposit account with Philippine National Bank?
- What is the minimum initial deposit amount required to open a time deposit account with PNB?
- Does Philippine National Bank offer a separate deposit scheme for minors in Singapore?
- Does Philippine National Bank offer personal loans to Singaporeans who have fixed deposit accounts with the bank?
The minimum and maximum tenures offered with the Philippine National Bank Fixed Deposit scheme are 1 month and 1 year respectively.
You can open a fixed deposit scheme in either US Dollars or Peso. There is no option to make deposits in Singapore Dollars.
You can open a fixed deposit account with a minimum initial deposit of USD 1,000 (for US Dollar deposit accounts) or PHP 10,000 (for PHP deposit accounts).
No, the bank does not offer any separate deposit scheme for minors in Singapore.
No, Philippine National Bank does not offer any personal loans to Singaporeans who have fixed deposit accounts with the bank.