time deposit

despite the strong rain yesterday i was finally able to go to the bank and opened a time deposit for Sofia.  I already texted my teller-friend, Joannes that i'll opened an account in their branch earlier this week.  Jaims got back at past 10 from a client call and he was too sleepy to even surf.  so while he was asleep i grabbed the opportunity and sent little sofi to sleep, too.  When i was sure that they won't wake up in a while, I packed all the docu needed and went to BDO (Stanford-Shaw branch).

Joannes texted me the following requirements:

2 valid id's




1 1x1 picture




baby's birth certificate




sell all your third currencies because BDO only buys US dollar

I have sold all her foreign currencies (US$, Canadian $ and Yen) last night at SM Marikina.  I used my PRC and company id as two valid IDs, snatched an old 1x1 picture and brought Sofi's birth certificate.   No need to worry about photocopying all the docu since they will do it for you.  Once you get there, proceed to the new accounts section and inquire about their TD.  They will ask you to fill up three forms, 2 forms about yourself and another one about your baby.  Take note that this TD is an ITF (in trust for) for Sofia so if you're opening a TD for yourself alone i'm not sure if you'll be filling up lesser forms.  After which, I inquired about their rates and the person in charge will show you there current rate sheet.

I couldn't remember the other rates except for the range where Sofi's money falls.  For 10,000 - 50,000 range, 30-60-90 days will earned her money 1.625% more and 180 days and above will give her 2.5%.  I tried the 90 days for the meantime.  The bank will automatically roll her money on its maturity date.  I asked her if i could roll it any other day or a few days after the maturity date but she said that if you don't go there on the said date the bank will automatically renew the TD.  I wanted to get a longer maturity term but first times always have drawbacks.  90 days is enough trial period.

Atthe end of our transaction, I was handed this...a Time Deposit Certificate

and oh, i asked her if this can be enrolled in their online banking...and she said NO...damn!