Time deposit question..?

i opened a time deposit account at BDO (Banco de Oro).


i just wanna know, when can i withdraw the money that i have deposit?


do i have to wait 1 year to withdraw it?





the maturity date is 30 days with a 2.25 interest.|||the terms for your time deposit is 30 days with a 2.25% interest per annum. which means your time deposit will earn an interest calculated in this equation:


principal(money you invested) x .0025 x 30/360 days





you don't have to wait a whole year before you can withdraw your money, you need to look at the date assigned in your certificate of time deposit as to when your investment matures which is 30days more or less from the day you opened the time deposit account. when that day comes, you can withdraw your money plus the interest it earned by terminating your account.|||yes you gotta wait|||Your time deposit is intended to be withdrawn at the end of its term to earn the interest quoted in the certificate. It does not in any way prevent you from terminating your said deposit anytime you need the money.





When you decide to preterminate your said time deposit, the bank is not bound to pay you the quoted rate. Instead the bank pays you a certain fraction of the quoted rate for the period the deposit remained with the bank. In most cases, the bank will pass on to you the cost of the documentary stamps that the bank incurred for your said placement.





Check with your bank and ask for pretermination computation to get the figure.|||It is a 30 day time deposit so you can withdraw it 30 days after you deposit it. If you don't withdraw it on that date( or grace period date) it will reinvest for another 30 days and you will have to wait until that date.





Actually you can take it any time but you will have to pay an early termination penalty.|||I suggest that you will have to wait for the maturity date stated on your agreement to get the full amount of interest vested into your time deposit account otherwise, you will have to pay penalty.