T-Bills have three different tenors: 91, 182, and 364 days. Unlike time deposits, T-bills are not insured by PDIC. 

Investors can invest a minimum of PHP 500,000 with increments of PHP 1,000 thereafter. 

T-Bills are offered at a discounted price or less than par (100). On settlement date, investors pay for an amount (subject to 20% withholding tax) less than the security’s face value. On maturity date, they receive the full principal amount. The difference between the amount paid on settlement date and amount received on maturity date represents the income earned from the investment. 

T-Bills do not pay out interest. Instead, investors earn from the difference between the amount paid on settlement date and full principal amount received on maturity. 

T-bills are virtually risk-free as it is backed by the government who has full taxing power and the ability to print money. However, there are market risks as T-bills’ market price is subject to fluctuations based on prevailing economic conditions. If an investor wishes to sell the T-bill before maturity, losses may be incurred due to a drop in market value. 

T-Bills are not covered by PDIC Insurance. 

Yes, this can be done by selling the T-bills at the prevailing market price. Note that the price can rise or fall over time, and you may incur gains or losses if you sell before the T-bill’s maturity. 

Visit or contact the China Bank branch nearest you to inquire about detailed steps. 

Prior to investing, you will be asked to complete a Client Suitability Assessment. This is to determine your risk profile and suitability for investment. The assessment considers your investment knowledge and experience, investment objective, the amount you are willing to invest, how long you can stay in the investment, and how much risk you are prepared to take.