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20% interest per annum payable monthly tax free pdic insured?



  • susmariosepsusmariosep Member ✭✭
    For anyone here who is like me looking for banks with higher interest rates, here is what I have found out about the ESB Equitable Savings Bank:
    Equitable Savings Bank (ESB) is 100% owned by Equitable PCIBank. ESB was incorporated and registered with the Securities and Exchange Commission (SEC) on May 16, 1996 and was granted the authority to operate as a thrift bank by the Bangko Sentral ng Pilipinas on May 24, 1996. It's main office branch in Greenhills was opened on July 17, 1996.

    It has at present 24 branches, almost all in Metro Manila.

    It's five years deposit is thus described:
    FIVE YEAR TIME DEPOSITS SureSaver Plus (Fixed Rate) P50,000 min., int. 8.9977%.

    I presume it is not tax exempt, meaning it does not absorb from the depositor the tax imposed on interest earned by the depositor.

    No, I am not acting on behalf of this bank, nor for the rural bank in my own Metro Manila city, near my village.

    I am just sharing what I found out from surfing the net.

    The interest on five years deposit by ESB is still higher than any I have seen from commercial banks.

    If anyone has genuine and useful information, no hype please, just post it here. And also your advice and tips.

    So, now we have one rural bank offering 9.5% interest, the one in my neighborhood, and one thrift bank, ESB Equitable Savings Bank, offering 8.9977%

    Yes, I am trying to get to locate that Banco of East Asia allegedly somewhere in the outskirts of Cebu City, and also that Bank of Paranaque, which both are not mentioned in the June 2006 list of rural banks in Metro Manila -- of course, logically not that one in the countrysides of Cebu City.

    My own policy is not to patronize any banks which do not have any branch within the Metro Manila area, no matter how high and secure and tax exempt their interest rates -- as per reports by some people.

  • DaNa8DaNa8 certified mommy PExer
    But isn't EPCIB being bought by BDO? That rural bank may be non-existent after the merger.
  • metropolitanmetropolitan the truth hurts, does it? ✭✭✭
    Equitable Savings Bank is a thrift bank not a rural bank. It is a subsidiary of the BDO-EPCIB Group like BPI Family Savings bank is to BPI or PSBank (Philippine Savings Bank) to Metrobank.
  • susmariosepsusmariosep Member ✭✭
    I learned yesterday evening from the website of the Hongkong and Shanghai Banking Corporation, that the tax exemption on interest earned from banks applies to time deposit of five years.
    Tax Free - all peso High-Yield Flexible Savings deposits placed for a 5-year period are exempted from the 20% interest income tax under current regulations.

    What I don't know is whether the exemption applies also if you are allowed to get your monthly interest payment.

    I feel that it covers only the whole amount that will be paid out when you finish the five years period, but not when you opt to get the monthly equivalent amount every month.

    If anyone can provide more and better information, please do so here.

    I will post information as I find them surfing the net on banks and the interests they pay.

    However if I make myself looking like an ignorant bumpkin, my apologies. It's all a process of education; so contribute your bit to the education of us all who are like myself.

  • you101you101 Member PExer
    hello, i just inquired s bangco san juan, a rural bank. 50k-299,999 interest is only at 6%/annum, the biggest interest that they give is 7.55/annum for a td worth 5million and above
  • IGXIGX Member ✭✭
    would it be safe to save money here say you have PHP100,000.00 or just invest the money on mutual funds?
  • susmariosepsusmariosep Member ✭✭
    IGX wrote: »
    would it be safe to save money here say you have PHP100,000.00 or just invest the money on mutual funds?

    If you are interested, look up this link where you will get encouragement to put money in some rural banks which are represented as paying 20%, tax exempt, risks free, on five years maturity but with monthly interest payable.

    Does anyone in the Philippines or anywhere know about the 20% interest per annum paid by some rural banks in the Philippines, with interest paid monthly, without any risks for being covered by Philippine Deposit Insurance Corporation insurance, and being tax exempt, with five years maturity; so that in five years a timed deposit of one million pesos will double your million to two millions plus?

    Look up this internet link:

    Rural banks under the Legacy Financial Group offering 20% p.a.

    I am curious and also interested because it seems a good way to retire on my life's savings.

    Please don't get me wrong. I am not pushing any offer to help anyone to earn 20%. See that web forum and you will meet the experts on how to make money by just using your idle funds and doing some paper work and then wait for your monthly interest and collect also your principal on the completion of five years -- which if you ask me is a long time and anything can happen in that period.

    That is why I am asking everyone here to contribute your opinion and knowledge, so that we can all know what is going on with this 20% scheme on time deposit of money in banks.

    So far the members here who know are the Professor and Metropolitan. I have asked the Professor (see message #2 above) to put his findings and recommendations here in this forum, but he seems to have gone on a leave of absence.

    And good friend Metropolitan while telling us that he himself earns good interests (see message #4 above) from his client or suki rural banks, has not told us so far what rural banks he is patronizing and how many months he has been receiving monthly interests.

    Paging Metropolitan: please introduce us to your suki rural banks; we want to earn good interests also.

    Again, don't get me wrong. I am not propounding any offer of any rural banks giving 20% interest rate. I am myself eager to come to know such rural banks, so that unabashedly I can also make my savings grow as to catch up with inflation, and get some extra buying power in addition.

    And also I enjoy reading and thinking and writing.

    So, let us everyone here who should have an interest in making your savings grow and fast at that, contribute here your opinions and knowledge from your own experience of gladness and also of woe.

  • susmariosepsusmariosep Member ✭✭
    The only thing I know about using money to earn money directly, without doing anything except to put your money in someone else's control, and he will return it to you after some period of time, more than when you turned it over to him previously... is to put it in the bank and the bank pays me an interest which as far as I know personally is very very little.

    Why don't I use the money to do some business? I am too lazy to go into business for myself, besides I am at a loss what business to go into; moreover I am not good at anything aside from my office work which is paying a decent salary and giving me good incentives.

    But since I heard about this 20% interest from some rural banks, I have been excited to find out more. And one thing is that my bank a big solid commercial one is not paying me as much interest as the few rural banks I have so far looked into -- but not as much as 20%.

  • susmariosepsusmariosep Member ✭✭
    Here is your ignorant provincial bumpkin again, with more comments about the 20% interest of some rural banks in the Philippines.

    First, I am rather depressed because the people who know about this product in this forum so far are not willing to tell us more and in details about the product.

    Time is money if and when you can use it to make money. I use it to work in an office and it makes me money while in office. Outside I have got a lot of idle time which if I don't use it carefully can get me in trouble. What is that about idle time being the workshop of the devil?

    So I am writing posts here about the 20% interest offered as reported by some people in websites in our country by some rural banks in our country.

    If you have any reactions that will add to the useful knowledge of people like myself, please feel most free and welcome to do so.

    Paging theprofessor, metropolitan and philbankproduct, our good fellow members of this PinoyEx, to share with us your experience and information.

    You are so far the most knowledgeable about this product of some rural banks in our country offering 20% interest which is making some people like myself so excited, who might really be so simplistic as to give time and attention to the idea -- but it could really be true and then we would not be missing on some very good turn in life which is otherwise usually drab and unpleasant, save for the precious few moments of joy and laughter.

    I don't think you should be in any fear that your messages on this product from your own experience might make you the target of hold-up or kidnap, and the rural banks you are doing business with might get bank-robbed -- because hold-uppers, kidnappers, and bank robbers work by much better and surer criteria for choosing their victims than reading forum messages.

    See next post for the blog piece referred to by philbankproduct.

  • susmariosepsusmariosep Member ✭✭

    20% p.a. Bank Time-Deposit

    That's correct. Rural banks were created and existed for a purpose. Microfinancing for SMEs. There are rules to be followed from BSP to access tax incentives of these rural banks. Try to visit for answers to your questions

    Okay, so I looked up that reference and I am reproducing it here below.
    [This is not copyright material and besides I am giving it due attribution. However, if the management of this forum decides otherwise, then they can edit it accordingly, or tell me how much by instalments I am allowed to cite the text.]

    Posted by Phils. BANK TIME-DEPOSIT @ 20% p.a. [Friday, April 6, 2007] at 12:57 AM 0 comments

    Blogger name: Phils. BANK TIME-DEPOSIT @ 20%p.a.

    Friday, April 6, 2007
    Phils. BANK TIME-DEPOSIT @ 20%p.a.

    “A Bank Time-Deposit that Doubles your money in 5-years”

    5-Year BANK TIME-DEPOSIT Product: CTD Monthly

    “GUARANTEED 20% Interest Rate per annum (TAX-FREE)”
    Interest paid monthly for 60 months (5 years), starting 30 days after deposit

    Deposits insured by Philippine Deposit Insurance Corporation
    (PDIC) maximum of Php 250,000.00

    Mechanics: (sample illustration)
    <!--[if !supportLists]-->Ø <!--[endif]-->For a Php 1,000,000.00 placement

    <!--[if !supportLists]-->Ø <!--[endif]-->Earn interest of Php 16,666.66/month for the next 60 months, thus interest earnings amount to a total of Php 1,000,000.00

    <!--[if !supportLists]-->Ø <!--[endif]-->Principal Sum of Php1,000,000.00 will be released upon maturity date

    Minimum placement: Php 100,000.00

    Member: Philippine Deposit Insurance Corporation (PDIC)

    Email Proponent at:

    [email protected]

    [email protected]

    Mobile (+63) 922 888 6597

    “There’s always Smart & Safe place for your money”

    Frequently Asked Questions

    How safe are my deposits?

    <!--[if !supportLists]-->· <!--[endif]-->Investment secured by Certificate of Time Deposit (CTD) or bank passbook.

    <!--[if !supportLists]-->· <!--[endif]-->Bangko Sentral ng Pilipinas (BSP) is the governing body of all banks.


    <!--[if !supportLists]-->· <!--[endif]-->Deposits insured with Philippine Deposit Insurance Corporation (PDIC) up to Php 250,000.00 (for PDIC, inquiries please visit website

    Why can rural banks give high interest rates on our time-deposits?

    <!--[if !supportLists]-->· <!--[endif]-->Bangko Sentral Ng Pilipinas (BSP) is granting higher tax incentives to rural banks over commercial banks since this will help Small and Medium Enterprises (SMEs) in the country.

    <!--[if !supportLists]-->· <!--[endif]-->Per BSP manual Sec. X242, there is no ceiling in giving interest rates.

    Why are interest rates on our time-deposits in commercial banks low?

    <!--[if !supportLists]-->· <!--[endif]-->Commercial banks borrowing rate is also low ( 12-14% p.a. ) compared to borrowing rate of our rural banks (36%).

    What are your outlet of funds?

    <!--[if !supportLists]-->· <!--[endif]-->Micro financing to SMEs by rural banks is at the rate of 36% per annum or 3% a month. Please refer to Entrepreneur magazine August 2006 issue.

    Any other additional safety nets for my deposits?

    <!--[if !supportLists]-->· <!--[endif]-->Advance monthly interests of 20% per annum ( 1.666% per month ) will be received regularly thereby reducing any risk exposure.

    Why should I place in a high-yield 20% p.a. double your money in 5-yr program?

    <!--[if !supportLists]-->· <!--[endif]-->To protect the purchasing value of your money from deterioration due to “inflation”.

    <!--[if !supportLists]-->· <!--[endif]-->There is always a need to “diversify” your investments into various financial portfolios to ensure the growth of your savings fund.

    Subscribe to: Posts (Atom) Blog Archive
    ▼ 2007 (1)
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    Phils. BANK TIME-DEPOSIT @ 20%p.a.
    About Me
    Phils. BANK TIME-DEPOSIT @ 20% p.a.
    View my complete profile

    So, what do you guys think about the study and proposal?

    Please don't get me wrong: I am not any proponent of this 20%. I am just curious and also excited but trying to do serious thinking and exercising extreme caution; however I have this penchant to always look into the most exorbitant reported facts and imagined ideas, for a mental pastime.

  • susmariosepsusmariosep Member ✭✭
    [Hope the management does not get unduly annoyed, but it's for the public good, that I am doing what might be disallowed cross-posting.]

    The message below has already been posted by the undersigned in that Thread: Bank time deposit with 20% etc.

    Read this from DaVinciCode, most enlightening.

    Absolutely informative post from a good fellow member, reproduced below from Thread: Bank time deposit with 20% etc.

    Posted by DaVinciCode
    [Today, 01:32 AM, i.e., April 14, 2007, Saturday.]

    Just remember to be sceptic about stuffs you read from the internet. Especially from people who asks you to hand-over P100,000 worth of your money promising big returns, and yet (1) his preferred method of communication is email, (2) doesn't give a landline and instead gives you a cellphone number (mobile numbers are not traceable in the Philippines), (3) doesn't leave a name, and (4) points you to a blogspot instead of a physical business address.

    Also remember that a lot of rural banks end up on default before the 5 years is up.... along with your money.

    Also remember that a lot of rural banks end up on default before the 5 years is up.... along with your money. -- DaVinciCode

    Now, finally, for being a bumpkin from the hills but persistent in trying to find out what's funny about this 20% deal, I have read something that is much and most vitally and crucially and critically important than if I were to attend a hundred seminars on banking and finance.

    So, the trick is to pay you some months of monthly interest but the bulk of your principal still not yet returned to you until the completion of five years; however the smartaleck operators behind the rural bank will render the bank insolvent before you get your principal back, so that they are still ahead by several tens of thousands of your hard earned dough. Hahahaha!

    Thanks DaVinciCode.


    PS It pays to pray that ejaculation [pun not intended] with every message, "Susmariosep"! I have faith in Jesus Mary Joseph, that with every invocation of their sacred names they will be on guard for my safety and the security of my savings.

    Well, that saves me from a lot of work in the net.


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