As the economy and finances become less stable, it makes sense that you want to protect and grow your money in the best ways possible.
Opening an online time deposit (OTD) account is one of the best ways to grow your money.
An OTD account is an interest-bearing account that lets you park your cash for a while and earn interest slightly higher than a regular bank account.
“By making Online Time Deposit easily accessible to our clients, we aim to provide a seamless and secure investment product, which allows them to focus on their priorities while their money grows steadily. Now, all that’s left for them to do is to set their financial goals – be it a savings boost or for additional travel funds, as they wait for their funds to mature,” said Digs Dimagiba, Metrobank Chief Marketing Officer.
Online time deposits are safer than other investments because they offer guaranteed returns, and the PDIC protects savings up to PHP 500,000 per depositor. You get interest based on two things: the principal, or the amount of money you put in, and the term, or how long you want to keep the money in the account. It is better to borrow more money and pay it back over a more extended period, whenever possible.
Metrobank’s Online Time Deposit account is an excellent choice to think about. The interest rates on this Time Deposit start at over 4% per year, one of the best rates available. It’s also straightforward to get to because you can open an account online.
For one year, deposits between PHP 10,000 and PHP 49,999 grow at 4.125% per year. As you put more money into your OTD account, the rate goes up to 4.5% yearly.
How to open a Metrobank Online Time Deposit?
- Ensure that you have a Metrobank Online account.
- Click the ‘Open Time Deposit’ icon in your Dashboard in your Online account.
- Provide the needed details for your OTD placement, and click ‘Submit’ to proceed with your transaction.
- 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’.
For non-Metrobank client
- Open a Savings account online via the Earnest app – no need to leave your house. Once you have a Metrobank Savings account, you can already open an Online Time Deposit account by simply following these steps:
- Log into your account on Earnest.
- Go to ‘Invest’, tap ‘Products’, then choose ‘Time Deposit’.
- Select the linked Metrobank account that you’ll use as your account, enter your time deposit details, and provide all required information.
With this Online Time Deposit offer, you can get high-interest rates on your money while enjoying the ease of digital platforms and the safety of a stable and reliable bank like Metrobank.
Open an OTD account today through Metrobank Online or the Earnest app! You can also easily monitor your funds via the new Metrobank Mobile App.
