I have a need to save money but to take it out around six months later. Philequity doesn’t work as well for short-term investments. So I had to hunt for investments that were more in-line with my short-term needs.

I was referred to Time Deposits and UITFs. And this is some of the information I’ve gathered.

BPI Time Deposits/Savings Accounts

Time Deposits at BPI have a minimum of P100,000 with an interest rate of 1.375% per annum.

For smaller denominations, there is a Platinum savings account that earns P2.125% per annum for a minimum monthly average daily balance of P25,000. This Platinum product has an insurance component bundled with it.

There’s another savings account called MultiEarner that earns 0.875% per annum. That’s not much. 🙁 .

For details, visit www.bpiexpressonline.com

BDO Time Deposits

On the other hand, Banco De Oro has from 30 to 360 days Peso Time Deposits. Current interest rates (Aug 2006) range from 2.75% p.a. (Php 1,000- below 10,000 for 30 days) to 3.75% (Php 10,000 – below 50,000 for 360 days).

The BDO finance adviser told me that these interest rates change, sometimes in a week or sometimes in a month. Comparing to past month’s, the interest rates above are quite low. A 10,000 Time Deposit for 30 days used to be around 3.1% but is currently at 2.875% .

BDO Unit Investment Trust Funds

UITFs are open-ended pooled trust funds operated and administered by a trust entity and made available y participation. The participant in the UITF has a proportionate beneficial interest in the UITF as a whole. – quote from BDO’s UITF product catalogue.

BDO has four Peso Denominated UITF products and two Dollar demoninated UITFs.

• BDO Peso Money Market Fund – Risk Averse
• BDO Peso Bond Fund – Risk Tolerant
• BDO Fixed-Income Fund – Risk Tolerant
• BDO Balanced Fund – Risk Taker
• BDO $ Money Market Fund
• BDO $ Bond Fund

For details, visit www.bancodeoro.com.ph

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