Time Deposit


The depositor must be a regular member of any AGARWOOD AGRICULTURE COOPERATIVE with a paid-up share capital of at least Eight Thousand Pesos (Php 8,000).

Minimum amount of Time Deposit is Fifty Thousand Pesos (P50,000.00)

One of the products and services offered by AGARWOOD AGRICULTURE COOPERATIVE to its members is the Time Deposits (TD). These are interest bearing deposits that have a specified date of maturity. Interest is not subject to withholding tax.

The interest rates per annum for these Time Deposits are:


Amount 3-5 Months 6-11 Months 12 Months
50,000 – 100,000 2.5% 3.5% 4.5%
100,001 – 200,000 3% 4% 5%
200,001 – 500,000 3.5% 4.5% 5.5%
500,001 up 4% 5% 6%

The above rates are subject to revisions by the board of directors based on the prevailing market rates in banks, treasury bills and in other co-ops.

Old time deposits enjoying the interest rates offered before the effectivity of the above rates can still enjoy the same rate provided that they will not withdraw their time deposit and will just renew their time deposit in our cooperative with the same principal amount.

Any fresh funds added as time deposit will be subjected to the prevailing interest rates.

Interest accrued monthly and paid upon maturity

If the time deposit is withdrawn before maturity

 The rate for savings deposits will apply if the holding period of the time deposit upon termination is less than Three(3) months.

 The rates as indicated in the table above will apply if the holding period of the time deposit upon pre-termination is more than or equal to Three(3) months.

After maturity, the interest of the excess days or months after the maturity date of the time deposit will be computed based on the rate for savings deposits, if not renewed on due date.