Philippine Veterans Bank, a leading private commercial bank with 60 branches nationwide, is pleased to announce the launch of two new time deposit products that are sure to attract individuals who wish to earn significant returns from their savings.

PVB is launching Hyper Saver Time Deposit and Maxi-Return Time Deposit, two (2) new long-term deposit products that guarantee not only a high return on the investment but also covers the depositor with free insurance incentive: Accidental Death or Loss of Life, Permanent Disablement or Dismemberment, Cash Assistance and Daily In-Hospital Income Benefit*- – the first ever products to do so in the industry.

With the Hyper Saver Time Deposit, a depositor initially sets a target savings amount at the end of the term period. PVB will then compute for the required lump sum deposit at the start of the period to earn the targeted amount. With the Hyper Saver's 6% monthly compounding interest, this product is attractive to those depositors who are looking for an affordable initial investment with the target of receiving more at the term's end. For example, if a depositor wishes to have P200,000 at the end of five years and one day, he will have to make an initial deposit of P148,225.59 at the beginning of the period.

The Hyper Saver Time Deposit also comes with a free insurance incentive that covers the depositor in case of accidental death or loss of life. Insurance coverage is equivalent to 100% of the time deposit amount up to a maximum of P5 Million. The insurance incentive also comes with a Cash Assistance Benefit due to illness amounting to 25% of the accidental death benefit but not to exceed P250,000.

On the other hand, PVB's Maxi-Return Time Deposit is aimed at those individual hoping to maximize the returns on their time deposits. With a 6% monthly compounding interest rate, depositors who make a bigger initial deposit stand to receive a significant yield at the end of the five years and one day term.

Like Hyper Saver, Maxi-Return Time Deposit also has a free insurance incentive that covers the depositor in case of accidental death or loss of life for 100% of the time deposit amount (but not to exceed P5 million) and the cash assistance benefit in case of illness (amounting to 25% of the accidental death benefit but not to exceed P250,000).

The Maxi-Return insurance incentive has an added bonus for depositors – a Daily In-Hospital Income Benefit. In case the depositor gets confined to the hospital due to an illness or an accident, he will be able to recoup hospital expenses as he will be entitled to an income benefit amounting to 0.10% of the total accidental death benefit for every day he is confined. The amount is capped at P5,000 per day with confinement of at least one day to a maximum of 30 days.

Both Hyper Saver and Maxi-Return time deposit products have a term of five (5) years and one (1) day, have an interest rate of 6% (monthly compounding of interest), and are free of withholding taxes and doc stamps. While there is no maximum deposit amount, depositors need to have a minimum P100,000 deposit to avail of either time deposit products.

For more information about Hyper Saver Time Deposit and Maxi-Return Time Deposit and how to avail of these new, exciting products, please visit the nearest Philippine Veterans Bank branch in your area or call (02) 902-1700 local 6301 or 6302.

* Exclusive only for the Hyper Saver time deposit product.

Note to Editors:

About Philippine Veterans Bank
Philippine Veterans Bank, also known as PVB or Veterans Bank, is a medium-sized, private commercial bank in the Philippines owned by Filipino World War II veterans and their heirs. PVB caters to both corporate and retail financial markets and is also a government depository bank. As part of its charter, 20% of PVB's annual net income is set aside for use in programs for the benefit of the bank's shareholders. For more information, please visit www.veteransbank.com.ph.

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For any questions or clarifications, please call:
Mike Villa-Real
Vice-President
Corporate Communications and Marketing Services Dept.
Tel: 902-1670
Email: mcvillareal@veteransbank.com.ph