PNB offers medium-term dollar time deposit

MANILA, Philippines - The Philippine National Bank (PNB) has launched PNB Top Dollar Time Deposit, which offers better yields than regular savings accounts or comparable time deposits. This new product caters to clients with medium-term investment horizons, such as two, three, four and five years.

Top Dollar guarantees depositors a fixed yield over the duration of their placement. The interest rate is based on prevailing rate at the time of account opening. Interest earnings are paid out quarterly, which gives clients liquidity while their principal is invested.

To make investing in Top Dollar even easier, accountholders are provided with a transaction diary where their placements are recorded. All additional deposits are posted in a single transaction diary, which makes it very convenient for clients to track their investments.

PNB Consumer Banking Sector head and first senior vice president Joven B. Hernandez stated that Top Dollar Time Deposit is being launched to give the banking public better opportunities to grow their money. 

“We are proud to provide our individual and corporate clients not only highly competitive interest rates and flexible terms but also liquidity in the form of quarterly payout of interest not commonly available in the market today,” Hernandez added. 

Top Dollar Time Deposit is one of the few investment outlets with terms beyond two years with an interest payout liquidity feature.

PNB is one of the country’s oldest and most stable commercial banks with a strong franchise in its core businesses, namely retail banking, corporate lending, and remittance. It offers retail and corporate clients with best value products and services that address their total banking requirements.