Savings Accounts in the Philippines with the Lowest Maintaining Balances

Here are the best savings accounts in the Philippines if our basis is low maintaining balance.

If we really think about it, there should be no problem with maintaining balances, as our main purpose in opening a bank savings account should be to SAVE, but there are times when we need these low-maintaining-balance accounts.

We need them for the following:

1.   For our children in college who need to be sent allowances
2.   For our parents in the province who need to be sent support
3.   For OFW remittance purposes

Low-maintaining-balance accounts are often those accounts with ATM CARDS only, WITHOUT PASSBOOKS.

You’ll deposit over-the-counter or thru ATM machines, but you’re supposed to withdraw ONLY thru the ATM machines.

There are also accounts that impose charges on certain transactions.  Just be sure you know them.

Here are Savings Accounts Requiring a Monthly Average Maintaining Balance of Only 500 Pesos:

LANDBANK   Land Bank of the Philippines

Savings Account with ATM Access

Maintaining Balance: 500 pesos
Minimum amount to earn interest: 500 pesos

SECURITY BANK

Peso Savings  Cash Link ATM Card

Maintaining Balance: 500 pesos
Deposit and withdraw through ATM

BANK  Of  COMMERCE

ATM Savings

Maintaining balance: 500 pesos
Min bal to earn interest: Not posted
You can request for a statement for documentation

MAYBANK

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

RCBC SAVINGS BANK

Basic Savings Account with ATM Card

Maintaining Balance: 500 pesos
Min to Earn Interest: 25,000.00 pesos

CITYSTATE  SAVINGS

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
Min bal to earn interest: 1,000 pesos

GSIS FAMILY BANK

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.

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

POSTAL BANK   Philippine Postal Savings Bank

Peso Savings Account

Maintaining Balance: 500 pesos
Minimum Balance to Earn Interest: 1,000 pesos

PostalCash ATM

Maintaining Balance: 500 pesos
Minimum Balance to Earn Interest: 1,000 pesos

BANK OF MAKATI

Regular Savings Deposit

Maintaining balance: 500 pesos
Min bal to earn interest: 1,000 pesos
Below balance charge: 50 pesos per month

Savings Acccounts Requiring a Monthly Average Maintaining Balance of 1,000 pesos:

BPI FAMILY SAVINGS BANK

Express Teller Savings

Maintaining Balance: 1,000 pesos
Min Amount to Earn interest: 3,000 pesos
Charge for not maintaining balance
for two consecutive months: 150 pesos per month

CHINABANK

Statement Savings with ATM

Maintaining Balance: 1,000 pesos
Minimum Balance to Earn Interest: 1,000 pesos
Provides Monthly Statement of Account

DBP Development Bank of the Philippines

Regular Savings

Maintaining Balance: 1,000 pesos
Choice of ATM Card, Passbook Only or Both

PHILTRUST  Philippine Trust Co.

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

BANK of COMMERCE

Passbook Savings Account with ATM

Maintaining balance: 1,000 pesos
Min bal to earn interest: Not posted

PHILIPPINE VETERANS BANK

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

ASIATRUST

Cash Station Regular ATM

Maintaining balance: 1,000 pesos
Min bal to earn interest: 3,000
Offers quarterly bank statement account.

PHILIPPINE BUSINESS BANK

Passbook Savings Account

Maintaining Balance: 1,000 pesos
Minimum Balance to Earn Interest: 1,000 pesos

Common basic requirements in opening a bank savings account:

Two valid IDs
Two 1 x 1 ID pictures
Tax Identification Number

Remember, if your account is ATM-based, meaning wala kang passbook, most banks
require you to withdraw only through the ATM. You’ll pay a fee if you withdraw over the counter.

Related Articles:

Cheapest Checking Account in the Philippines
Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks
BDO Kabayan Savings, BDO Remit Cash Card for OFWs
BPI and BDO Internet Banking — Free and Quick Ways to Send Your Children’s Allowance
BPI, BDO, or Metrobank Fees — Why Keep Paying Them?
Best Savings Accounts for Students in the Philippines

60 Comments

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  1. Hi again po. Thanks for the advice po.. Can I ask What is the information about the union bank eon visa debit card? Thanks po

  2. Hi Grimme, a debit card is an atm card that you can use at a store or supermarket that has a card-swipe system. It can also be used for shopping online if it’s linked to Mastercard or Visa. It is different from a credit card because you need to put money into your debit card account before you can use it for purchase. Yes, you can save in a debit card account, and after accumulating maybe 50k, put it in a time deposit so your money will earn more. Here’s information about Union Bank EON Visa Debit Card. Be careful about your account because with this account, you can send money online to anyone with a bank account. Guard your account from hackers.

  3. Hi Grimme, yes, your savings will earn interest, but sad to say, interest rates for savings account are so small, near zero. Just think that your goal is to save, forget the interest. Save until you accumulate maybe 50k, and then put it in time deposit (auto-renewal). Just go to your bank and say “May I put into time deposit my money here in this account?”

  4. Thanks po sa advice. Mgtatanong po ulit ako, kpag po ba ngipon ako sa Bangko lalaki po b yung pera sa loob ng card?
    Thank you po..

  5. Hi I would like to open a dollar account. What bank/s can you suggest can you suggest with lowest maintaining balance or with least amount to open an account? Thank you

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