Savings Account with Low Maintaining Balance - Philippines

     Most Filipinos wants to save money but some are hesitant due to lack of knowledge. I myself was a bit apprehensive since I had an experience before opening a savings account but ended up closing it since I was not able to meet the required maintaining balance.

     Below are list of banks in the Philippines that have very low maintaining balance and initial deposit.

1. BPI Family Bank

Account name: Easy savers account

• Maintaining Balance: "none" zero pesos

• Will earn Interest

• Easy to acquire, at only P200 Pesos Initial deposit

• With online banking facility, through BPI Online

• Pay bills from the comfort of your home.

• Requires only one I.D. to acquire one

2. BPI Direct (BPI Online Banking Family)

Account name: BPI Direct ATM Savings account

• Maintaining Balance: P500 pesos

• Earn high interest on all your funds

• Enjoy higher ATM withdrawal limit  bitof Php 50,000 a day.

• Transfer funds anytime, anywhere.

• Pay bills from the comfort of your home.

• Easy to acquire through internet

• Requires only one I.D. to claim the card

3. LANDBANK Land Bank of the Philippines

Account name: Basic Savings Account with ATM Access

• Maintaining Balance: 500 pesos

• Minimum amount to earn interest: 500 pesos

• Required Daily Balance to Earn Interest: P500 Pesos

• Interest Rate: 0.250% p.a.

• Maximum withdrawable amount/day: P50,000 Pesos

• Maximum EPS (card shopping) transactions/day: P100,000 Pesos

4. Security Bank

Account name: Peso Savings Cash Link ATM Card

• Maintaining Balance: 500 pesos

• Deposit and withdraw through ATM

• Minimum amount to earn interest: P2,000 pesos

• Interest Rate: 0.250% p.a.

• Online Banking through Security Bank online

5. China Bank Savings (CBS)

Account name: Easi-Save ATM

• Interest Rate: 0.75% p.a.

• Maintaining Balance: 500 pesos

• Initial Opening deposit: only P500 pesos

• Minimum Balance to earn interest: P1,000 Pesos

• Easi-Save ATM Card, Monthly Statement of Account

6. Bank of Commerce

Account name: Basic ATM Savings

• Maintaining balance: 500 pesos

• Min bal to earn interest: Not posted

• You can request for a statement for documentation

7. Maybank Philippines

Account name: Value Savings Account

• Maintaining balance: 500 pesos

• Min bal to earn interest: 10,000 pesos

• Over the counter withdrawal fee: 20 pesos

• Initial ATM card fee: 100 pesos

8. RCBC Savings Bank

Account name: Basic Savings Account with ATM Card

• Maintaining Balance: 500 pesos

• Min to Earn Interest: 25,000.00 pesos

• Account documentation is through an ATM or a Passbook

• Interest Rate: 0.5% p.a.

• Minimum balance to earn interest: P25,000 pesos

9. Citystate Savings Bank

Account name: Peso Passbook Savings Account with ATM Card

• Maintaining balance: 500 pesos

• Min bal to earn interest: 1,000 pesos

• Peso ATM Savings Account

• Maintaining balance: 500 pesos

• Minimum balance to earn interest: 1,000 pesos

10. GSIS Family Bank

Account name: Passbook Savings Account No ATM Card

• Maintaining balance: 500 pesos

• Min bal to earn interest: 1,000 pesos

• Deposit at any GSIS Family Bank branch, but withdraw only, over-the-counter, at the branch   where you opened your account.

Account name: ATM Savings Account

• Maintaining balance: 500 pesos

• Min bal to earn interest: 1,000 pesos

• You can withdraw up to 40,000 pesos per day

• You can request for a statement of account

11. Postal Bank ( Philippine Postal Savings Bank)

Account name: Peso Savings Account

• Maintaining Balance: 500 pesos

• Minimum Balance to Earn Interest: 1,000 pesos

Account name: PostalCash ATM

• Maintaining Balance: 500 pesos

• Minimum Balance to Earn Interest: 1,000 pesos

12. Bank of Makati

Account name: Regular Savings Deposit

• Maintaining balance: 500 pesos

• Min bal to earn interest: 1,000 pesos

• Below balance charge: 50 pesos per month

13. BPI Family Savings Bank

Account name: Express Teller Savings

• Maintaining Balance: 1,000 pesos

• Min Amount to Earn interest: 3,000 pesos

• International ATM Card through Cirrus International

• Enjoy higher ATM withdrawal limit of PhP 50,000 a day

• Go cashless, worry-free shopping via the Express Payment System (EPS)

• Withdraw cash from over 1 million Cirrus-affiliated ATMs in over 210 countries worlwide in the    currency of the country you are in.

• Charge for not maintaining balance

   for two consecutive months: 150 pesos per month

14. Chinabank Corp.

Account name: Statement Savings with ATM

• Maintaining Balance: 1,000 pesos

• Minimum Balance to Earn Interest: 1,000 pesos

• Choices between ATM or Passbook, same account

• Provides Monthly Statement of Account to your address

• Min Amount to Earn interest: P5,000 pesos

• Interest Rate: 0.25% per anum

• Initial deposit for opening the account: only P1,000 Pesos

• With Online Banking Facility through Chinabank Online

15. DBP Development Bank of the Philippines

Account name: Regular Savings

• Maintaining Balance: 1,000 pesos

• Choice of ATM Card, Passbook Only or Both

16. PHILTRUST Philippine Trust Co.

Account name: Peso Savings Account – Passbook Only, No ATM Card

• Maintaining Balance: 1,000 pesos

• Minimum Balance to Earn Interest: 1,000 pesos

• Charge for below balance: 100 per month after 2 months of falling below balance

• Charge for lost passbook: 100 pesos

17. Bank of Commerce

Account name: Passbook Savings Account with ATM

• Maintaining balance: 1,000 pesos

• Min bal to earn interest: Not posted

18. Philippine Veterans Bank

Account name: Regular Peso Savings for Non-Veterans

• Maintaining balance: 1,000 pesos

• Min Amt to Earn Interest: 1,000 pesos

• Choice of passbook and/or ATM

19. Asia Trust Bank

Account name: Cash Station Regular ATM

• Maintaining balance: 1,000 pesos

• Min bal to earn interest: 3,000

• Offers quarterly bank statement account.

20. Philippine Business Bank

Account name: Passbook Savings Account

• Maintaining Balance: 1,000 pesos

• Minimum Balance to Earn Interest: 1,000 pesos