Invest at minimal risk with RCBC Fixed Income Securities

Secure a passive income from sure returns with RCBC’s low-risk investment product. Minimum investment starts at P100,000 only.

Treasury Bills

 
Features
Description Most Actively traded zero-coupon debt instrument
Investor Profile Those seeking short-term and risk-free investments
Minimum Transaction Amount PHP 100,000.00
Term/Tenor 91,182, and 364 days from original issue date
Counterparty Risk Republic of the Philippines
Taxation Interest income subject to 20% final withholding tax
Manner of Purchase Through the secondary market
Documentation Confirmation of Sale (COS) Without Recourse
3rd Party Custodianship documents
Liquidity Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates.
Availability 91, 182, and 364 days from original issue date.

Fixed Rate Treasury Notes

 
Features
Description Debt instruments that promise to pay a specific sum of money with frequent fixed rate coupon payments at a specified future date.
Investor Profile Those seeking short-term and risk-free investments
Minimum Transaction Amount PHP 100,000.00
Term/Tenor 2,5,7,10,20, and 25 years from original issue date.
Counterparty Risk Republic of the Philippines
Taxation Interest income subject to 20% final withholding tax
Manner of Purchase Through the secondary market
Documentation Confirmation of Sale (COS) Without Recourse
3rd Party Custodianship documents"
Liquidity Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates.
Availability All RCBC branches nationwide (cutt-off:4:00 PM)

Retail Treasury Bonds

 
Features
Description Debt instruments that promise to pay a specific sum of money with frequent fixed rate coupon payments at a specified future date.
Investor Profile Those seeking short-term and risk-free investments
Minimum Transaction Amount PHP 5,000.00
Term/Tenor Up to 25 years from original issue date
Counterparty Risk Republic of the Philippines
Taxation Interest income subject to 20% final withholding tax
Manner of Purchase Through the secondary market
Documentation Confirmation of Sale (COS) Without Recourse
3rd Party Custodianship documents
Liquidity Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates.
Availability All RCBC branches nationwide (cutt-off:4:00 PM)

Local Corporate Bonds (Php)

 
Features
Description A debt instrument issued by private and public corporations, usually with regular coupon payments
Investor Profile Those who are seekung medium to long term investments and are comfortable with corporate risk.
Minimum Transaction Amount PHP 100,000.00
Term/Tenor From 3 years to 10 years from original issue date.
Counterparty Risk Philippine Corporations
e.g. Enegy Development Corporation, San Miguel Brewery Inc.
Other Features Usually pays a premium over government securities and bank deposits.
Taxation Interest income on PHP corporate bonds is subject to 20% final withholding tax
Manner of Purchase Through the secondary market
Documentation Confirmation of Sale (COS) Without Recourse
3rd Party Custodianship documents
Liquidity Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates.
Availability All RCBC branches nationwide (cutt-off:4:00 PM)

Foreign Currency Sovereigns

 
US Treasuries
Republic of the Philippines
Other Sovereign
Description Debt instruments backed by the full faith and credit of the U.S. Government Debt instruments issued by the Republic of the Philippines in other currencies, usually in US Dollars A debt security issued by a national government within a given country and denominated in a foreign currency
Investor Profile Those who are looking for investments in currencies other than PHP, in a variety of tenors and with minimal risk.
Minimum Transaction Amount USD 100,000.00

USD 200,000.00
(10k depending on the security/tenor)

USD 200,000.00
Term/Tenor From 1 month to 10 years from original issue date From 3 years to 25 years from original issue date From 2 years to 30 years from original issue date
Counterparty Risk U.S. Government Republic of the Philippines Country of Origin
Taxation   Please consult your tax counsel  
Manner of Purchase   Through the secondary market  

Fees and Charges

Type of Fees Client Fees Retail Description Sample Computation
 Ph Government Securities FV Php1Mn
Broker Fees 12.5bps Commission charges of RCBC; Charged based on Face Value (FV) of each trade (p.a. if less than 1year); or min of Php500 (1) FV 1Mn x 0.00125 = 1,250.00
(2) Less than 1yr =
FV1Mn x 0.00125 x 180/360 = 625.00
Bid-Thru Fees 12.5bps Charged to allow investors to participate in primary issuances (i.e. Tbills and FXTNs) Min amount of Php10mn FV Php10Mn x 0.00125 = 12,500.00
Php Corporate Securities 
Broker Fees (Primary Market) 15bps Commission charged to allow investors to participate in the primary issuances   FV 1Mn x 0.0015 = 1,500.00
Broker Fees (Secondary Market) 15bps Commission charges of RCBC; Charged based on Face Value (FV) of each trade (p.a. if less than 1yr); or min of Php500 (1) FV 1Mn x 0.0015 = 1,500.00
(2) Less than 1yr = FV1Mnx0.0015x180/360 = 750.00
Foreign Currency Denominated Bonds
Custody Fee 2.5bps p.a. Charged by Landbank Trust for maintaining a Broker managed security arrangment as supported by Client's SPA FV1Mnx0.00025 = 250.00 (if held for at least 1yr)
LBP Transaction Fee $15 or $18 Charged by Landbank Trust for each USD bond transaction (deliver and receive of securities); $15 for securities issued uner Core Market (securities issued in US, Australia, France, Germany, Italy, UK, Netherlands) or $18 for securities issued other than the Core Market  
Bid-thru Fees 25bps Charged to allow investors to participate in the primary issuances (i.e. ROPs, other Sovereign and Corporate Bonds) FV USD 100k x 0.0025 = $250.00
Broker Fees - non-QIB 25bps Commission charges of RCBC; Charged based on Face Value (FV) of each trade. FV USD 100k x 0.0025 = $250.00
Fees/Commission - QIBs As applicable Fees/Commission applied may range from 0-2% of purchase price.  
Broker Fees - Below Min Trading amount $50 or
25bps of FV
Commission charges of RCBC on securities being traded below the minimum tradable amount.  This applies mostly on securities previously bought from the bank (but currently specified as illiquid by the bank) and being sold back to the market.  Minimum of $50; or 25bps of FV whichever is higher.   FV Usd 25k x 0.0025 = $62.50
US Treasury Bills (Min of $50,000.00 Face Value)
Broker Fees ($50k - 199,999.99) 25bps Commission charges of RCBC; Charged based on Face Value (FV) of each trade (pro-rated based on tenor); or min of $50.00 Less than 1yr =
FV50k x 0.0025 x 180/360 = $62.50
Broker Fees ($200k - 999,999.99) 25bps Commission charges of RCBC; Charged based on Face Value (FV) of each trade (pro-rated based on tenor); or min of $50.00 Less than 1yr =
FV200k x 0.0025 x 180/360 = $250.00
Broker Fees ($1Mn and up) 25bps of $1mn Commission charges of RCBC; Charged based on Face Value (FV) of each trade (capped at 25bps of $1Mn) Less than 1yr FV3Mn =
$1Mn x 0.0025 x 180/360 = $1,250.00
Transfer of Securities Php250.00
or $5.00
Fees charged for transfering securities to/from other banks, for both Php and FCDU (charged per security)  

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