We are entering a new era where banking is now easy as ordering food online.


But with so many options available, how do you choose the ideal type of savings account perfect for you? More specifically, what is the difference between a time deposit and a regular savings account?


We got you! Here's a quick rundown of the differences and advantages of both a time deposit and a regular savings account to help you choose the best one that fits your goals.  

1.  Interest Rates: The Numbers Game

 A regular savings account offers flexible rates that can change from time to time while a time deposit account offers higher interest rates for keeping your cash maturing for a fixed term.  

2. Access and Earnings  

Regular savings accounts offer easy access in case of emergencies, but the value of your money may not grow as fast. Time deposit, on the other hand, provides a secure haven for your funds, shielding it from impulsive spending sprees while letting it earn a fixed higher rate than a regular savings account offers.  

3. Financial Discipline Bootcamp  

Opting for a time deposit is like enlisting in a financial training camp; it helps you learn to control your spending habits and stick to a saving plan. With time deposit, you commit to setting aside money for a fixed period, which teaches you the value of patience and discipline in managing your finances. It's like building up your financial muscles, getting stronger each time you resist the urge to spend impulsively.

4. Goals Galore  

Whether you're saving for a rainy day or a dream vacation, both accounts have perks. A regular savings account lets you adapt to changing needs, while a time deposit encourages long-term commitment and goal setting.


Choosing between a time deposit and a regular savings account is like picking between spontaneous adventures and well-planned expeditions.


If you're saving up for the long run, the new CIMB MaxSave is for you! It's the next generation time deposit account that lets your savings earn a high interest rate of 7.5% per annum.


You can also open up to five CIMB MaxSave accounts, one for each of your goal, with only a minimum deposit of ₱10,000 up to a maximum of ₱1,000,000. You can choose the term that works for you best: 6 months to earn 6.5% interest p.a., 12 months to earn 7% interest p.a., or maximize your savings and earn 7.5% interest p.a. for only 24 months!


Take a step towards your goals. Open a CIMB MaxSave Time Deposit account today! Visit https://cimbbank.com.ph/maxsave to learn more.

Deposits are insured by PDIC up to P500,000 per depositor.

CIMB Bank Philippines Inc. is regulated by the Bangko Sentral ng Pilipinas.