A dual currency deposit (or DCD) is a financial instrument structured to help a depositor take advantage of relative differences in two currencies. It allows a bank customer to make a deposit in one currency and withdraw the money in a different currency if it is advantageous to do so. These products are also known as dual currency products or dual currency services.
The DCD combines a cash or money market deposit with a foreign exchange option. Because of the currency risk, dual currency deposits offer higher interest rates.
- Investment entry for Dual Currency Deposit is Php12,000.00 minimum.
- Locked-in period is for 10 years
- Annual interest rate is 15%
- All Primary Cooperatives can accept Dual Currency Deposits.