Time deposits lock your money for a fixed term in exchange for a guaranteed rate. Digital savings accounts are more flexible and increasingly competitive on yield.
For money you won't touch for months, a time deposit can lock in a higher rate. For an emergency fund, a digital savings account keeps your cash accessible.
Both are covered by PDIC deposit insurance up to ₱1,000,000 per depositor per bank (raised from ₱500,000 in March 2025), so safety is comparable at reputable institutions.
Use the deposits catalogue to compare current yields side by side before you commit.