THOUGHTSKOTO

Tuesday, July 17, 2018

10 Best Banks to Open Savings Account in the Philippines

Saving money in a bank is considered to be the easiest and safest way to save money. Banks offer different types of savings accounts where you can save money while earning a small interest. Aside from this, you can be so sure that your money is safe at the bank because they are insured by the PDIC to a certain amount.

Saving money with a bank considered to be the easiest and safest way to save money. With banks, it offers a different type of savings account where you can save money at the same time earns interest. Aside from this, you can be so sure that your money is safe at the bank because they cannot be lost or stolen. But here in the Philippines, although many people save, only a few put their savings in the bank. According to the latest survey of Bangko Sentral ng Pilipinas, seven out of 10 Filipinos don't have savings in the bank. Are you one of them? If you are looking for a bank that will value your money in a savings account you may check the following comparison of savings account from 10 banks in the Philippines. 1. Tanay Rural Bank Savings Account Interest — Up to 1.75% Initial Deposit — P500 Balance to Interest — P500 High-interest savings account for as low as ₱500 initial deposit 2. Security Bank eSecure Savings Account Interest — Up to 1.20% Initial Deposit — P500 Balance to Interest — P5,000 Higher-earning savings account designed to get you more from your savings Security Bank Regular Build Up Savings Account Interest — Up to 50% Initial Deposit — P5,000 Balance to Interest — P10,000 Earn higher interest with no lock-in or fixed minimum term. 3. Equicom Savings Bank Kiddie Builders Savings Account Interest — Up to 1.00% Initial Deposit — P500 Balance to Interest — P1,000 An interest-bearing passbook savings product designed for kids with a high-interest rate. 4. Sterling Bank of Asia Bayani OFW Savings Account Interest — Up to 1.00% Initial Deposit — P0 Balance to Interest — P2,000 Account intended to support the requirement and needs of Overseas Filipino Workers (OFWs) Sterling Bank of Asia Solo Savings Account Interest — Up to 0.50% Initial Deposit — P5,000 Balance to Interest — P5,000 Sterling Bank of Asia Neo Savings Account Interest — Up to 0.38% Initial Deposit — P0 Balance to Interest — P2,000 A special savings deposit account for kids ages 17 and below. 5. BPI Direct Savings Direct Express Teller Savings Interest — Up to 0.50% Initial Deposit — P500 Balance to Interest — P500 Monitor and manage your accounts anytime, anywhere easily with superior electronic banking channels BPI Direct Savings BPInoy Savings Interest — Up to 0.50% Initial Deposit — P0 Balance to Interest — P500 Receive remittances fast and safe with your Bpinoy Savings Account BPI Direct Savings Save-Up Automatic Savings + Insurance Interest — Up to 0.50% Initial Deposit — P0 Balance to Interest — P1,000 A savings account that comes with free life insurance coverage BPI Family Savings Save-Up Automatic High Savings Interest — Up to 0.50% Initial Deposit — P0 Balance to Interest — P3,000 Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance BPI Family Savings Jumpstart Savings Interest — Up to 0.50% Initial Deposit — P100 Balance to Interest — P1,000 Savings account specially designed for children age 10-17 y/o, for them to get the best out of saving BPI Family Savings Easy Saver Interest — Up to 0.50% Initial Deposit — P200 Balance to Interest — P1,000 Open your own savings account for only ₱200 6. RCBC Savings Bank Dragon All-in-one - Personal Account Interest — Up to 0.38% Initial Deposit — P25,000 Balance to Interest — P25,000 Enjoy higher interest rates than regular savings account while enjoying unlimited access to your accounts via ATMs and RCBC branches 7. BDO Prime Savers Interest — Up to 0.25% Initial Deposit — P2,000 Balance to Interest — P5,000 Savings account for individuals 60 years old and up. who wants to enjoy special forex rates and priority service. BDO Power Teens Club Interest — Up to 0.25% Initial Deposit — P2,000 Balance to Interest — P2,000 Savings account for kids age 13-19 y/o which they can open with an ATM Card BDO Peso Passbook Savings Account Interest — Up to 0.25% Initial Deposit — P5,000 Balance to Interest — P10,000 Enjoy the security of a passbook and earn fixed interest on your savings. 8. BPI Kaya Savings Interest — Up to 0.25% Initial Deposit — P200 Balance to Interest — P1,000 Savings account with no maintaining balance and with a minimal fee for withdrawal transactions BPI Pamana Padala Interest — Up to 0.25% Initial Deposit — P500 Balance to Interest — P5,000 Savings account specially designed savings account for Overseas Filipino Remitters BPI Save-Up Automatic Savings + Insurance Interest — Up to 0.25% Initial Deposit — 0 Balance to Interest — P5,000 A savings account that comes with free life insurance coverage BPI Jumpstart Savings Interest — Up to 0.25% Initial Deposit — 100 Balance to Interest — P2,000 Savings account specially designed for children age 10-17 y/o, for them to get the best out of saving 9. Maybank Classic Savings Account Interest — Up to 0.25% Initial Deposit — 10, 000 Balance to Interest — P10,000 Regular passbook savings account that comes with a free ATM card Maybank IM Teen Savings Account Interest — Up to 0.25% Initial Deposit — P500 Balance to Interest — P5,000 Savings account with a personal accident and medical reimbursement benefit for individuals aged 13 to 17 10. Metrobank Debit/ATM Card Savings Account Interest — Up to 0.25% Initial Deposit — P2,000 Balance to Interest — P10,000 Perform your transactions at any ATM Metrobank terminal using your ATM card Metrobank OFW Debit/ATM Card Savings Account Interest — Up to 0.25% Initial Deposit — P0 Balance to Interest — P10,000 Perform your transactions at any ATM Metrobank terminal using your ATM card

Here in the Philippines, although many people save, only a few put their savings in a bank. According to the latest survey from Bangko Sentral ng Pilipinas, seven out of ten Filipinos don't have savings in a bank. Are you one of them? If so, then it's time to head to the bank.

Sponsored Links

To make it easy for you to choose which bank to go to, we have made a comparison among 10 banks in the Philippines starting with the highest interest. Included in the list are savings account for kids, OFWs as well as personal accounts.

1. Tanay Rural Bank Savings Account

Interest — Up to 1.75%

Initial Deposit — P500

Balance to Interest — P500

High-interest savings account for as low as ₱500 initial deposit

2. Security Bank eSecure Savings Account

Interest — Up to 1.20%
Initial Deposit — P500
Balance to Interest — P5,000
Higher-earning savings account designed to get you more from your savings

Security Bank Regular Build Up Savings Account

Interest — Up to 50%
Initial Deposit — P5,000
Balance to Interest — P10,000
Earn higher interest with no lock-in or fixed minimum term.

3. Equicom Savings Bank Kiddie Builders Savings Account

Interest — Up to 1.00%
Initial Deposit — P500
Balance to Interest — P1,000
An interest-bearing passbook savings product designed for kids with a high-interest rate.

4. Sterling Bank of Asia Bayani OFW Savings Account

Interest — Up to 1.00%
Initial Deposit — P0
Balance to Interest — P2,000
Account intended to support the requirement and needs of Overseas Filipino Workers (OFWs)

Sterling Bank of Asia Solo Savings Account

Interest — Up to 0.50%
Initial Deposit — P5,000
Balance to Interest — P5,000

Sterling Bank of Asia Neo Savings Account

Interest — Up to 0.38%
Initial Deposit — P0
Balance to Interest — P2,000
A special savings deposit account for kids ages 17 and below.

5. BPI Direct Savings Direct Express Teller Savings

Interest — Up to 0.50%
Initial Deposit — P500
Balance to Interest — P500
Monitor and manage your accounts anytime, anywhere easily with superior electronic banking channels

BPI Direct Savings BPInoy Savings

Interest — Up to 0.50%
Initial Deposit — P0
Balance to Interest — P500
Receive remittances fast and safe with your Bpinoy Savings Account

BPI Direct Savings Save-Up Automatic Savings + Insurance

Interest — Up to 0.50%
Initial Deposit — P0
Balance to Interest — P1,000
A savings account that comes with free life insurance coverage

BPI Family Savings Save-Up Automatic High Savings

Interest — Up to 0.50%
Initial Deposit — P0
Balance to Interest — P3,000
Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance

BPI Family Savings Jumpstart Savings

Interest — Up to 0.50%
Initial Deposit — P100
Balance to Interest — P1,000
Savings account specially designed for children age 10-17 y/o, for them to get the best out of saving

BPI Family Savings Easy Saver

Interest — Up to 0.50%
Initial Deposit — P200
Balance to Interest — P1,000
Open your own savings account for only ₱200

6. RCBC Savings Bank Dragon All-in-one - Personal Account

Interest — Up to 0.38%
Initial Deposit — P25,000
Balance to Interest — P25,000
Enjoy higher interest rates than regular savings account while enjoying unlimited access to your accounts via ATMs and RCBC branches

7. BDO Prime Savers

Interest — Up to 0.25%
Initial Deposit — P2,000
Balance to Interest — P5,000
Savings account for individuals 60 years old and up. who wants to enjoy special forex rates and priority service.

BDO Power Teens Club

Interest — Up to 0.25%
Initial Deposit — P2,000
Balance to Interest — P2,000
Savings account for kids age 13-19 y/o which they can open with an ATM Card

BDO Peso Passbook Savings Account

Interest — Up to 0.25%
Initial Deposit — P5,000
Balance to Interest — P10,000
Enjoy the security of a passbook and earn fixed interest on your savings.

8. BPI Kaya Savings

Interest — Up to 0.25%
Initial Deposit — P200
Balance to Interest — P1,000
Savings account with no maintaining balance and with a minimal fee for withdrawal transactions

BPI Pamana Padala

Interest — Up to 0.25%
Initial Deposit — P500
Balance to Interest — P5,000
Savings account specially designed savings account for Overseas Filipino Remitters

BPI Save-Up Automatic Savings + Insurance

Interest — Up to 0.25%
Initial Deposit — 0
Balance to Interest — P5,000
A savings account that comes with free life insurance coverage

BPI Jumpstart Savings

Interest — Up to 0.25%
Initial Deposit — 100
Balance to Interest — P2,000
Savings account specially designed for children age 10-17 y/o, for them to get the best out of saving

9. Maybank Classic Savings Account

Interest — Up to 0.25%
Initial Deposit — 10, 000
Balance to Interest — P10,000
Regular passbook savings account that comes with a free ATM card

Maybank IM Teen Savings Account

Interest — Up to 0.25%
Initial Deposit — P500
Balance to Interest — P5,000
Savings account with a personal accident and medical reimbursement benefit for individuals aged 13 to 17