Sample computation of interest – Time Deposit Rate from BPI Direct Savings Bank

Today I emailed BPI Direct, asking if the interest rates in the following table taken from their website is monthly rate.

BPI Direct Savings Bank, Time Deposit Rates Sep23-29

The table of BPI’s time deposit rates above may have changed already as you read this blog entry, so please verify in this page: BPI Direct – Time Deposit Rates.

This was the response I got:


Please be informed that the interest rate posted in BPI Express Online is computed per annum.

Sample computation for 364 days:  

Principal x Rate x Time / 360  (less 20% witholding tax) = gains 
   (50,000.00 x 1% x 364)    =  505.55 – 101.11 (20% w tax) = 404.44 


The amount is too small for me. What do you think?


A Filipino who is a mobile & web developer on weekdays, and a baker on weekends. When I have time to spare, I blog, play video games, watch series (usually anime), cook dishes, draw, or spend a little time with pets. When I have the rare luxury of time, I get to travel and record song covers too! Follow on Twitter: @catzie

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