3 Benefits of Opening a Salmon Time Deposit Account

There’s something extremely gratifying about seeing your hard-earned money right in front of you and counting it out one bill at a time.

But keeping your money in a shoebox under your bed isn’t really safe, nor is it financially smart. As the elders would say, “Natutulog lang ang pera!”

The good news is that there is a way for your money to earn and grow while it stays “asleep.” It’s called a time deposit account, and there are three benefits to opening one.

Your money is secure from external threats. Keeping your money in a shoebox at home means you could lose it in a fire, flood, or even to rodents– all things that are beyond your control.

But more than that, the sad reality is money can bring out the evil in people. Having so much cash around tempts others to get just a tiny amount– kupit lang ng konti– so your money could be slowly vanishing before your eyes. You may also fall prey to robbers anytime, putting your entire household at risk.

Keeping it in a bank is a safer option, but you also need to guard against scammers and attempts to hack your bank account. When your money is in a time deposit account, there is an added layer of security since the money is locked away for a fixed period and is not accessible during that time.

You can resist the temptation to spend it all. With the advent of online shopping, it’s easy to spend so much in just a few clicks, especially when you know you have the funds.

You may also be tempted to spend your hard-earned money on new gadgets or appliances, or traveling to a bucket-list destination. It’s perfectly fine if those are the reasons why you’ve saved up all that money– you should, after all, enjoy the fruits of your labor. But if that money was intended to be an emergency fund, a retirement plan, or simply your savings, just strengthening your resolve not to spend it may not be enough.

Unlike a savings account where you still have quick and easy access to your cash, a time deposit account does not allow you to withdraw from the account before the prescribed lock-in period is over, thus saving you from yourself.

Your money is sure to grow. When you keep cash at home, the elders are correct in saying your money is asleep– that is, its value doesn’t grow at all. Your PHP50,000 will remain PHP50,000 for the entire year.

A regular savings account isn’t much of an improvement, as most interest rates fall below 1% per annum. This means that if you put your PHP50,000 in a regular savings account that offers 0.05% per annum, your money only earns PHP25 by the end of the year.

But a time deposit account at the Rural Bank of Sta. Rosa (Laguna) lets your money grow by at least 5% per year, depending on the lock-in period. You can open an account with a minimum deposit of PHP50,000, then choose to keep the money locked for 6 months, 9 months, or 12 months.

And if you've saved up more than half a million pesos, putting it in a Salmon time deposit account for 12 months can make it grow by a whopping 8.88% per year! For example, if you open an account with PHP550,000, you could earn PHP48,840 by the end of the year, and that's not something that can happen when it's all inside a shoebox.

"Salmon Time Deposit” is a product of the Rural Bank of Sta. Rosa (Laguna)

Rural Bank of Sta. Rosa (Laguna), Inc. is regulated by the Bangko Sentral ng Pilipinas (Email: [email protected]). Deposits are insured by PDIC up to Php500,000 per depositor.

For concerns, please visit any of our offices or contact us via

For Head Office: 0955-271-1615 / (049) 534-1126 / email: [email protected]/ mail: F Gomez Street, Poblacion Malusak, City of Sta Rosa, Laguna

For Bacoor Branch: 0955-861-7848 / (046) 434 - 6197 / email:[email protected]/ mail: Evangelista St., Poblacion, Daang Bukid, Bacoor City, Cavite