Metrobank has increased the interest rate of its online time deposit (OTD) product to as much as 5 percent per annum, offering customers higher returns on their savings.
The move comes at a time when many households are becoming more conscious about budgeting and long-term financial planning amid rising living costs and growing financial responsibilities.
Metrobank said its online time deposit is designed to help customers save more conveniently while encouraging financial discipline. Through the Metrobank App and Metrobank Online, customers can digitally set aside funds for specific periods, helping them avoid unnecessary spending while earning higher interest compared to regular savings accounts.
The bank added that the product is aimed at helping customers separate long-term savings from everyday expenses, making it easier to stay focused on financial goals such as emergency funds, education, travel, or future investments.
Customers can choose from different deposit amounts and saving tenors depending on their financial objectives.
Metrobank also highlighted the security and reliability of its digital savings products, noting that it remains backed by the strength and stability of what The Asian Banker recognized as the country’s strongest bank.
The bank encouraged customers to download or update the Metrobank App to start an Online Time Deposit account. Those without an account yet may first open an eSavings account to access the higher OTD interest rates.
