PSBank launches Mobile Time Deposit feature
PSBank has recently added a new feature on its mobile app.
Dubbed as the PSBank Mobile Time Deposit, the latest service allows customers to invest funds over an extended period of 30, 60, or 90 days via the bank’s mobile app.
The new addition to the bank’s digital services is aligned with the bank’s commitment to adapt with the changing and growing needs of its customers.
Interest rates for Peso Time Deposit placements are based on the total balance of the customers. This means a higher balance amount entitles them to a higher interest rate.
Clients who are interested to open a Peso Time Deposit account may follow these steps:
- Log-in to the PSBank Mobile App.
- Tap on Place Time Deposit from the Create a Transaction menu in View My Accounts.
- Enter the Amount, Term, and Maturity Instruction.
Customers who want to open a Peso Time Deposit account through the app are required to place a minimum amount of PHP 10,000.
Clients may put either a PSBabk checking or a savings account as the source for the investible funds and where payouts of principal or interest earnings will be credited upon maturity. They may also transfer funds from other bank accounts to their PSBank accounts to fund their TD placement.