BEST BANK

[titaniumbox]

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@wizard_jamex,, thanks for the added info bro! very informative.. mamalhin nata.lolz! kay tihik kaayo interest rates ang dagko banks..

[neo4596]

@wizard_jamex,, thanks for the added info bro! very informative.. mamalhin nata.lolz! kay tihik kaayo interest rates ang dagko banks..

Be careful lang bro kay "the higher the interest, the higher the risk."

[demonyito]

Usually that is the ploy of small banks..
They will offer higher interest rates to attract more investors.
But I think safe ra man cguro.. basta covered sa PDIC.
sakto bah?

[gtboy]

dugay man sad na mamayad tingali ang PDIC. in my opinion, much better to put your money in mutual funds.

[wizard_jamex]

Usually that is the ploy of small banks..
They will offer higher interest rates to attract more investors.
But I think safe ra man cguro.. basta covered sa PDIC.
sakto bah?

Yep, basta covered lang sa PDIC and it's safe.

[wizard_jamex]

@wizard_jamex,, thanks for the added info bro! very informative.. mamalhin nata.lolz! kay tihik kaayo interest rates ang dagko banks..

you're welcome. Ako lang gishare ang nabasahan nako sa MoneySense Magazine.

[nicolasryan]

Thanks for the informative post sir wizard_jamex. I'm also looking for a bank with higher interest rates. Currently banking with East West bank and Citibank.

[Metz]

Thanks for the informative post sir wizard_jamex. I'm also looking for a bank with higher interest rates. Currently banking with East West bank and Citibank.

sir if your purpose is for investment, better go for mutual funds.
bigger return, tax free pa imong gains.

sa time deposit, big banks will offer 4% if you can invest millions. and naa pajud na withholding tax, holding period, and transaction fees.

ang bank ron para nalang jud expenses, business, and emergencies.

banks invest your time deposit in mutual funds and earn an average return of 12% per annum. So they keep the 8% as profit.

Why dont we invest directly in mutual funds and add another 8% to our gain?

just to show you how much you are losing in time deposit.

100k at 4% per annum, invested for 36 years = 400K - withholding tax, bank fees
100k at 12% per annum, invested for 36 years = 6.4M - no tax and fees

your bank is always happy to give you the 400K while they keep the 6M.

[wizard_jamex]

Thanks for the informative post sir wizard_jamex. I'm also looking for a bank with higher interest rates. Currently banking with East West bank and Citibank.

You're welcome.....

[rev]

One-hundred thousand and minimum sa mutal funds