Time Deposits Ranked: Where to Park Your Money in 2025 💸

We’ve talked about MP2 in a previous issue, but there are actually other ways to park your money almost risk free and guaranteed returns.

If you’re not ready for a 5-year commitment that MP2 requires, time deposits may be for you.

We've ranked the top time deposit offerings in the Philippines based on interest rates, term options, minimum deposits, and unique features to help you make the most bang for your buck.

In today’s edition, we’ll go over:

• What a time deposit is

• Why you should consider opening one

• Our top picks for time deposits

TLDR;

The Bottom Line

• A time deposit (TD) is an investment vehicle where you lock in your money for a period of time

• Why you should open one: keeps your money semi-liquid; almost risk free and guaranteed returns

• Our top picks for time deposits: Tonik, Maya, Metrobank, and CIMB

• Time deposits deduct 20% for withholding tax. Take note when calculating your interest earnings.

The content

What Is a Time Deposit?

A time deposit is a type of investment where you lock your money for a fixed period — usually ranging from 30 days to 5 years. In return, the bank pays you a higher interest rate than a regular savings account.

⏳ When and Why Should You Consider a Time Deposit?

✅ You have savings you won’t need for a few months. It’s a good way to keep your savings semi-liquid. We recommend putting your emergency funds in a time deposit.

✅ You want almost zero risk and guaranteed returns.

✅You’re saving for short-term goals like a new laptop or a holiday trip. There are several digital time deposits that let you customize your time deposit to fit your goal.

Actionable Tips for You

🏆 Top Time Deposit Offers in the Philippines (2025)

Here are our top 4 picks for the best Time Deposits in the Philippines. 

1. Tonik Digital Bank

• Interest Rate: Up to 6% p.a.

• Term Options: 6, 9, 12, 18, 24 months (we recommend doing the 6-month time deposit to get the highest interest. Just open a new one once the TD matures).

• Minimum Deposit: PHP 5,000 (minimum PHP 10,000 to get the the full 6%, otherwise you get 5% which is still not bad)

• How to Open: Online

• What we like:

  • You still get 1% interest even if you don’t complete the full time deposit.

• What we don’t like:

  • You can only deposit up to PHP 1.25M distributed in 5 time-deposits (yes, a million pesos is not to be scoffed at, but compared to other banks, this is quite limited.)

2. Maya Bank (Time Deposit Plus)

• Interest Rate: Up to 6% p.a. (once you hit your target amount); standard at 3.5% p.a. 

• Term Options: 3,6,12 months

• Minimum Deposit: None

• How to Open: Online

• What we like: 

  • No minimum deposit

  • Promotional rates of up to 6% makes you motivated to stick with your savings goals

  • You can deposit up to PHP 1M per TD account, maximum of 5 TDs.

• What we don’t like:

  • Penalty fees for premature withdrawals

  • Interest rates may vary based on account activity

3. Metrobank

• Interest Rate: Up to 4.5% p.a.

• Term Options: 30 days to 1 year

• Minimum Deposit: PHP 10,000

• How to Open: Online and Branch Visit

• What we like:

  • You can withdraw prematurely and still get at least 25-50% of your earned interest.

  • Tried and tested financial institution

• What we don’t like:

  • Lower interest rates compared to other banks

4. CIMB Bank (MaxSave Time Deposit)

*This is different from GSave in Gcash. This Time Deposit is exclusively available in the CIMB Bank app.

• Interest Rate: Up to 5.5% p.a.

• Term Options: 3, 6, 12,24 months

• Minimum Deposit: PHP 5,000

• How to Open: Online

• What we like:

  • Competitive interest rates offered even at shorter terms

• What we don’t like:

  • Fluctuating interest rates depending on promotions

  • App could be unreliable. It has history of having bug issues

Final Thoughts

Before locking in your money, use a time deposit calculator to see exactly how much interest you’ll earn after taxes (yes, there’s a 20% withholding tax!).

Time deposits won't make you rich overnight — but if you're saving for short-term goals and want your money to work a little harder while staying safe, they're a solid bet.

Stuff Worth Sharing

The Link Lowdown

What People in 1994 Thought About Money — Stumbled upon this time capsule on Youtube. Thought it was an interesting 8-minute watch.