When is my check going to clear if I deposit it on Friday at 10 am and Saturday is bank holiday?
It depends on which clearing cycle the cheque is processed. Most possibly, the check deposited in 10.00 AM on Friday, if collected by the bank same day then it will be processed on Monday Morning Clearing Cycle. You will have clear balance on Tuesday. (Assuming that it is not high value and not processed in high value clearing).
Requirements for time deposit (BDO, BPI, Metrobank)?
There shouldn't be a fee for TD, all costs are accounted for in the interest they pay you at the end of the term. Note that the gross interest stated in the certificate is not the amount you will get; 20% withholding tax for peso deposits and 7.5% on dollar deposits will be deducted. If you pre-terminate before the end of the term, interest is lower and you have to reimburse portion of the documentary stamps already affixed for the entire period (the sooner you pre-terminate, the less you end up with, you might even need to shell out cash). If you already have an account with the bank then the ID requirement you submitted previously might suffice. Otherwise, they need 2 government-issued IDs, plus you have to sign forms and specimen signature cards. That's about it. Remember to get a receipt for the money you put in. You'll be able pick up your deposit certificate within the day, or if you can't wait, go back the following day.
If you want to withdraw money from a fixed deposit, can you do it before the maturity period?
Yes, you may, but that will fall under premature withdrawal and you may have to pay a penalty for that. Once you decide to withdraw money from your FD, the bank will calculate the principal amount along with the rate of interest with the help of Online FD Calculator, and then deduct the penalty amount. However, in case of an lock in FD, a bank may refuse a premature withdrawal as per RBI guidelines. Let us have a look at premature penalty. Usually banks charge a penalty of 0.5% to 1% lower interest on FDs which are closed before maturity. This penalty may be waived off by some banks if it is an emergency. A point to be noted here is that the emergencies are not usually well-defined in the terms and conditions, and in fact, the waiver or reduction is applicable on per-case basis. Another option you can explore is taking a loan against your FD.
Can you deposit a check for someone else?
Yes, if they endorse their check and you know what account to deposit it into. (Have them write the account number on the back of the check.). This commonly happens with married couples, families, or an elderly person and their caregiver. My dad used to regularly deposit my paychecks, even though my dad wasn't listed as a member on my account. If you deposit the check into someone's account on behalf of that person, the bank should give you a receipt but they should also black-out the account balance. You need proof that you did as requested (hence them giving you a receipt), but that doesn't mean you deserve access to how many dollars are in your friend's account. About 20% of the time the bank messes up on this, and leaves the bank balance showing._____________You CANNOT deposit a check into your account that was written for someone else. That is check fraud. If your name isn't on the check, don't sign the check, and don't put it in your account. Simple enough.
I'm 16, what do I do to get a Debit Card without telling parents?
The only way you can get a debit card of your own without your parents knowing is if you have a savings account of your own. As you are 16 years of age, you are allowed to have a Savings Account without involvement of your legal guardian. However you haven't mentioned from where will you have money to put into this account to fund your use of debit card. Either you are already doing some kind of work that pays you some money, or you get some kind of pocket money from your parents. For lack of information, I'm assuming it is savings from your pocket money which you can deposit in your Savings account.Please see the following relevant excerpt from a RBI circular confirming that you are allowed to open an independent savings account:Further, with a view to promote the objective of financial inclusion and also to bring uniformity among banks in opening and operating minors’ accounts, banks are advised as under:A savings /fixed / recurring bank deposit account can be opened by a minor of any age through his/her natural or legally appointed guardian.Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping in view their risk management systems, fix limits in terms of age and amount up to which minors may be allowed to operate the deposit accounts independently. They can also decide, in their own discretion, as to what minimum documents are required for opening of accounts by minors.Full text of the circular along with a pdf version from which above is excerpted can be found at this link of RBI: Reserve Bank of IndiaHaving said above, I am not able to gather the reason why you would not want your parents to know about your having a debit card.Important Note:I hope you do understand that a debit card needs prior funds in your account and is NOT the same as a credit card which doesn't needs prior linked funds. If you need to understand the difference between these two, a reasonably good explanation can be found at Debit Card vs Credit Card - Difference and Comparison. In case you were hoping for a credit card, let me add that you can not have one without one of your other eligible earning parent co-signing for it.
Is having a savings account worth it?
We all pretty much have to have a checking or current account nowadays, but a separate savings account is not always necessary - it depends on your behaviour. Some points are relevant:Savings account(s) can be good for setting aside different pots of money for different purposes.Savings accounts tend to offer marginally higher rate of interest (although it’s all rather tiny at the moment).If you need the discipline of having your money in a savings account, rather than psychologically more accessible in your current/checking account.If you have larger sums of money, you shouldn’t keep them all in one bank - have a couple of accounts.Very long-term (20+ years), savings just about keep pace with inflation (that’s only if you get best interest rates and minimise taxes etc.), so likely to lose via inflation and huge opportunity cost of a saving account vs. investment.Sometimes cash is king - don’t invest too much money. Lots of cash puts a nice wedge between you and financial poverty. Cash can be deployed at favourable times.Hope that helps
Can I withdraw all the money in my bank account or does there need to be a minimum balance?
It is advisable to close your banking account. If you have withdrawn all your money then:The bank may start sending you reminders about minimum balance.If you attempt to withdraw from your ATM you will be penalised for a declined transactionsIf you try restarting your account after leaving it zero balance for long time, the bank might ask for penalty for not maintaining average quarterly balance.