PF- Mid - W8

Savings Account

Easy access, withdraw anytime

0.25% a year at traditional banks

Time Deposit

Locked for a fixed term (6 to 12 months).

Early withdrawal usually forfeits some interest

3% to 3.25% at traditional banks

Money Market Fund

Pooled fund in short-term, high-grade debt.

Slightly more risk and less liquidity guarantee

3% to 6%

Traditional bank (BDO, BPI, Metrobank)

0.25%

Widest branches, lowest yield

GCash GSave (via CIMB Bank PH)

2.3% to 2.6%

In-app, no maintaining balance

Maya savings

3% base, up to 15% boosted

Higher rate requires meeting task conditions

Tonik Bank

4% (Solo) / 4.5% (Group) / 5.5% (12-mo TD)

Highest standard digital rate in the set

UnionDigital Bank

3% to 3.5%

Rate scales with balance

Credit Cooperatives

Member-owned financial institution. Savers become part-owners.

Members may receive dividends or patronage refunds, a share of annual earnings.

Regulated by the Cooperative Development Authority (CDA), not BSP or PDIC. Always check how a specific cooperative protects deposit

FICCO (First Community Cooperative)

a Davao-based credit cooperative.

common bond

Members pay a small membership share, often tied to a ____ (employer, community, organization).

Philippine Deposit Insurance Corporation (PDIC)

government agency that insures bank deposits if a bank fails or closes.

Covers savings, checking, time deposit, and NOW accounts, in peso and foreign currency.

Automatic. No application or fee.

Does NOT cover stocks, mutual funds, or UITFs. Those carry market risk.

1 MIL

Maximum coverage: ₱1,000,000 per depositor, per bank (raised from ₱500,000 in March 2025).