One of the banks I visited offers 0.625% for 30 days and 0.875% for 364 days/1 year (it is for peso currency). It is too small if you invest 10,000 for 1 month. The earned interest rates is 62.5 pesos, while 1,050 if you invest it for 1 year.
I know someone who had an experience in investing in time deposits. And according to him, I should invest my money in stocks or mutual fund rather than time deposit. I want to try it despite I know the returned interest is too small. My belief is as long as you diversify your money and you don't need it for a long time, it's okay to invest it in different investment vehicles. Savings as well as passbook accounts are earning much lower than time deposit because you can get/withdraw your money anytime you want.
Anyway, I hope I could invest a part of my income into the said investment and I trust famous and popular banks in lending my money to them. We are here to live life fully and money is one of the factors to consider. Time is the best gift we can give to our loved ones. So learn how to use it effectively.
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