Metropolitan Bank & Trust Co. (Metrobank) now allows account holders to conveniently and securely open a time deposit account through Metrobank Online, its internet banking platform.
Depositors can enjoy higher interest rates with Metrobank’s Online Time Deposit. For a minimum placement amount of P10,000, clients can start their own time deposit and enjoy preferential interest rates, depending on the amount they save and the terms they choose. Clients can put in money for as short as one month or for as long as 12 months and opt to either extend the time deposit or withdraw the funds and interest earnings.
Gross annual interest rate is subject to the amount and term length of the investment.
For existing bank depositors with a Metrobank Online account, here’s how you can own and start saving with an Online Time Deposit:
- Open your Metrobank Online account.
- Go to Dashboard and click Open Time Deposit. Remember, there’s a 10:00 p.m. cut-off every banking day to apply for an Online Time Deposit.
- Enter your Time Deposit account details—that includes your initial placement amount, source of account, term of your Time Deposit, and your preferred payout option once your Time Deposit matures—and click Next.
- Review all your information, then click Submit
- Input your 6-digit Metrobank Online account passcode, click Submit. Once all your information is in, confirm your Online Time Deposit application by clicking Done.
On the next banking day, expect an SMS and email in your Metrobank Online inbox on the status of your application.