Savings Accounts in the Philippines with the Lowest Maintaining Balances

Updated June 21, 2016

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 a low-maintaining-balance account not primarily for saving but for transfer of money.

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:

Savings Account with ATM Access
Maintaining Balance: 500 pesos
Minimum Average Daily Balance (ADB) to earn interest: 500 pesos

ATM Savings
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 500 pesos

Value Savings Account
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 10,000 pesos

Basic Savings Account with ATM Card
Maintaining Balance: 500 pesos
Minimum ADB to Earn Interest: 25,000.00 pesos

Peso Passbook Savings Account with ATM Card
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 1,000 pesos

Peso ATM Savings Account
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 1,000 pesos

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

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:

Express Teller Savings
Maintaining Balance: 1,000 pesos
Minimum ADB to Earn interest: 3,000 pesos

Statement Savings with ATM
Maintaining Balance: 1,000 pesos
Minimum Balance to Earn Interest: 1,000 pesos

DBP Development Bank of the Philippines
Regular ATM or Passbook Savings
Maintaining Balance: 500 pesos
Minimum ADB to earn interest: 500 pesos

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

Passbook Savings Account with ATM
Maintaining balance: 1,000 pesos
Min bal to earn interest: Not posted

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

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


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  2. Hi mam nora anu poh ba ang ma suggest mo na bank pra mg open ako ng atm savings account yung mura lang poh…

  3. At saka anu din ang mga requirements pg nag open ng atm savings account….

  4. Hi just want to ask magkano poh ba dapat ang initial deposit sa pg open ng atm savings acct sa bank of commerce or eastwest bank.
    Kailangan ko kasi for my maternity req.

  5. Hi Aldz, kelangan nila ang at least one regular valid ID, yong plastic na ID-size. Yang barangay clearance at police clearance kasi parang documents, so supporting IDs lang sila. Yong digitized postal ID (plastic, hindi yong laminated), merong bank na tumatanggap, pero around 500 pesos na yata ang cost nito.

  6. Hello poh!! Sa bid I’d puede ba ang barangay clearance at police clearance lang? Salamat

  7. hot Pinoy man Universe Barry Belda Otenatela

  8. Hi Arnold, merong hindi magkatugma, kaya hindi makuha. Saan ba nagpadala ang sender? Sa BPI account? or sa tao for cash pickup at BPI? Kung sa BPI account, dapat magkatugma yong BPI account number at account name na isinulat ng sender at sa BPI records. Makukuha ang pera through the atm ng receiver. Puede rin sa counter kung passbook account.
    Kung ang padala ay FOR CASH PICKUP, present IDs. Dapat magkatugma exactly yong name sa remittance document at name sa ID ng receiver. Kung merong mali sa account name or account number, dapat bumalik yong sender sa pinagpadalhan ng pera at gawin ang correction.

  9. Panu po ba makukuha ung pera na pindala s bangko

  10. Nagpadala po kasi ng pera bakit di po mkuha s banko

  11. bakit po ganun nman po di mkuha ng aswa ung pindala pera s bpi bank angono ano po bang problema s account number po un.

  12. Hi tanong ko po, paano po mag-open ng students savings account at maybayad po ba ito kung mag apply?! Need ko po para sa future

  13. Hi berlin, kahit hindi naka-post sa passbook mo ang padala mo, naka-post naman doon sa master records sa BDO ang pera mo, so hindi mawawala yon, basta natanggap ng BDO ang padala mo, at basta BDO remittance partner yong pinagpadalhan mo. Meron kang reference number? Try mo nga dito kung ma-track mo pa yong padala mo: BDO Remit Status Inquiry

  14. Hi mrs Nora may kabayan savings account po aq knuha q nung nag pesos aq last august 27,2016 at hinulogan q na po nung december16,2016 kaso po mam nadala q dto Kuwait ang passbook q at ATM mam dpo na update ang hinulog qng pera.kc.ngapo andito sa akin ang passbook dala q.mam dpo ba mawala ang hinulog Kong pera sa bank account q khit dpo na update?mam kylangan q po ng sagot nyo pls

  15. Hi tanong KO lang po, pano po kapag student like me is a lang hung valid Id which is my school Id?

  16. Hi Lolita, I emailed you, kasi late yong sagot ko.

  17. Hello po mrs nora,maganda rin po ba ang a.t.m iremit visa card?

  18. Hi Rejane, I’m glad that you asked and you want to start saving. Kelangan talaga mag-save. Ang kelangan lang naman is valid ID. Minsan gusto nila 2 IDs, pero puede namang 1 valid ID lang kung ang meron ka is SSS ID, driver’s license or passport or PRC ID. Kung wala ka pa, apply for a digitized postal ID sa post office nio (yong new card, hindi yong nilalaminate). Magdala ka rin ng 2 1×1 or 2×2 ID pictures. Yong iba gusto rin nila ng bill like Meralco or water bill in your name to prove your address. Minsan they also ask your TIN no. Kung wala ka pa, sabihin mo lang, mag-a-apply ka pa lang for your TIN ID. Bring these requirements, then punta ka lang sa new accounts teller (usually yong mga nasa lower tables), ask lang the guard. Then sabihin mo lang sa teller “puede pong mag-apply ng atm savings account?” as you present your requirements.
    Para madali lang magdeposit, choose a bank near your house or your work place. Any BSP-licensed bank is okay, kahit rural bank. Itanong mo lang dito kung may duda ka about a certain bank. Ngayon naman, insured by PDIC ang bank savings, up to 500,000 pesos.
    Start ka muna sa mga mabababa ang maintaining balance, like BPI Family atm savings (1,000 pesos to maintain, meaning dapat laging 1,000 or more ang nasa account mo everyday, hindi mo winiwidro). Oks lang to be below 1,000 sometimes, pero dapat in other days, much more than 1k ang laman para mahabol na 1k or more ang average daily balance for the month. Yong BDO, maintaining balance ng atm savings nila is 2k. Yong sa Landbank, 500 pesos. Yong sa BPI, 3k. Tanong ka lang uli if you have other questions. May post ako dito: Tips for opening a bank account

  19. Gusto ko po mag open ng savings account paano po mag paopen ng savings ? First time ko po kasi para po sa future po namin

  20. Hi Ehzhie, yes, because they are savings accounts. Ang hindi lang puede for checks ay yong cash card — walang account no., cash card no. lang

  21. Pwede ba magdeposit ng cheke sa account na may maintaining bal na 500 pesos? Sa rcbc landbank or maybank? Thanks

  22. Hi geo, here’s a list of banks that offer dollar accounts with a $100- to $500-maintaining balance. OFWs who send dollars frequently can open zero-maintaining dollar accounts.

  23. 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

  24. Salamat po

  25. 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..

  26. 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?”

  27. Hi po thanks po for your advice. If I save in a bank, will my savings earn interest? thanks po

  28. 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.

  29. Thanks for the advice po. What is a debit card? If I save in a bank, can I gain a lot after a time? Thanks po

  30. Hi po again .. Can I ask po what is a debit card? Thank you po

  31. 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

  32. Hi Grimme, that’s called credit card. But there are requirements for application. You need to have a stable source of income. You should have been employed for at least a year. Credit card issuers require certificate of employment, tax return, valid photo IDs and a landline phone. Others require a bill like Meralco or Smart or Globe for proof of address. As a parent, my advice is that it’s not good to have a credit card at a young age. You should be saving, not borrowing. 🙂

  33. Hi po. I’m 19 and a college student. which card can I use. the card by which I can borrow money and then I will pay it monthly po? and which bank can I apply? thanks po

  34. / Thanks, Allan, for this opportunity to share with your felwolors. I just want to add that for Filipinos residing/living permanently abroad, the requirements are still the same IF they have retained their Filipino citizenship. If not, then that’s when they’d have to comply with the additional requirement of document/ID authentication.And also, my site address is now, though the blogger account remains (, so they could visit either site.Once again, thanks and more power to you!

  35. Hi glady, yes, the BPI Easy Saver account is good for students because it has no maintaining balance requirement. Instead, it charges 5 pesos for every atm withdrawal and every inquiry. No, you can’t use Easy Saver to buy goods online. To buy goods online, you can apply for a Smart Money account (if your SIM is Smart) and GCash card (if your SIM is Globe). These are not savings account cards, these are reloadable electronic cards. You can use to withdraw money at atms and to buy goods online. You can go to their websites and apply online. If you like a savings account card and at the same time a card that can be used online, apply for a Union Bank Eon Visa debit card (350 pesos annual fee).

  36. Hello po, i just want to ask which account should I apply for since I’m still a student. Can I use the BPI savers account to withdraw thru atm machines and to purchase some stuff online? Thanks po.

  37. Hi John, no, it’s not a separate amount. Your initial deposit will be part of your maintaining balance. For example, if the maintaining balance requirement is 3k, and your first deposit is 3k, maintain this 3k in your account so your account does not fall below the maintaining balance requirement. Some banks allow you to open with an amount less than the maintaining balance, but instructs you to deposit asap to reach the maintaining balance requirement.

  38. Is the maintaining balance the same amount to open an account or is that a separate payment?

  39. hi, good day! Do you know the interest rate for DBP saving Account and the minimum deposit that earns interest? I’ll be glad to hear from you. regards,

  40. Hi Sheila, sorry I don’t know if DBP writes the account no. at the back of the atm card, like BPI. But most cards like BDO do not have the account no. at the back. See your account no. at the first deposit slip when you opened your account. You can also ask DBP over the counter; just give your atm card and your ID.

  41. Hi! How woUld i know my acct num on my dbp atm card?

  42. Hi heidi, both BPI and BPI Family offer Easy Saver.

  43. hi! im intetested in bpi easy saver acct since it has no maintaining balance..where can my daughter open an acct? bpi or bpi family..thank you

  44. Hi janel, if you’re sure you’re the type of person who can save money, choose any account above at a bank near your school or your house. Easy access to the bank is important. If you’re not sure you can maintain a balance, open the BPI Easy Saver account — this has no maintaining balance requirement but you pay a 5-peso fee for every atm withdrawal or balance inquiry. Paying a 5-peso fee for withdrawal is better than paying 300 pesos every month if you’re not able to maintain the required balance.

  45. hi im a student and i just wanna ask what type of bank account i need to open.. so that i can earn even a minimum deposit only.. thank u for ur reply

  46. Hi shaira, you can apply for a postal ID (might cost 400 plus pesos; you need barangay certificate). Or you can try presenting your school ID and barangay certificate to Landbank.

  47. How can I open an atm account at landbank if I only have school id as my valid id? Thanks.

  48. Hi Joana, is your current balance still the same as your balance for the previous months? If it’s still the same, then that means your account is not being penalized and that it’s still being treated as a payroll account. About penalty for regular accounts: Starting from the 2nd month an account is below maintaining balance, the 300-peso penalty is deducted every end of the month, from month to month, until the balance is wiped out or closed.

  49. hi. I have a bpi account and it’s been months it’s below maintaining balance. Previously, it was a company payroll account so zero maintaining, but I’m no longer with the company. Does it revert to regular savings? if yes, is the 300 penalty cumulative? thank you

  50. Hi po. Balak ko po mag open ng saving atm account sa bpi. Ask ko lang po kung yung BPI Easy Saver at BPI Direct Express Teller Savings ay pwedeng over the counter mag deposit at pwede rin mag deposit sa ibang branch? Na-confused po kasi ako nung nabasa ko ito, does it mean di ako makaka-deposit sa ibang bpi branch? please help po..
    “Like when you opened your BPI Direct account, you were requested to nominate your Branch of convenience. This is the branch where you will present your identification papers, sign your account opening documents and pick-up your BPI Direct Express Teller ATM Card. This branch will also service your over-the-counter transactions like deposits and withdrawals when amounts exceed the ATM withdrawal limits.”

  51. may i ask what’s the minimum that land bank card holders can withdraw at other express net atm machines? Previously 500 can be withdrawn; now that amount cannot be withdrawn. I still have a balance of 600 balance; it appears that I should withdraw 1000. thank you

  52. Hopefully po but its really hard. Maybe tita you can also right something about investment in mutual fund.we really need to help our country men the importance of insurance and investment. The risk involve etc.

  53. Hi ian, I hope you’re able to help more people secure their family’s finances.

  54. Cubao branch po beside gateway

  55. Not that well but im trying my best to help people learn the importance of insurance and at the same time contribute on there financial literacy

  56. Hi ian, so glad you’re doing well with Philam. I linked with you at Google+. Thanks again for visiting. Which Philam branch are you connected with?

  57. Hi tita its been a while po its nice that your blog is still active.i have also wrote some topics on my blog.especially now that we are promoting our VUL product

  58. Hi meralenly, BPI is Bank of Philippine Islands. It’s a universal bank, and the parent bank of BPI Family and BPI Direct. Technically, walang bank na BPI Island — ginagamit lang ng iba ang “BPI Island” as short word for Bank of Philippine Islands (BPI), para maiba siya sa BPI Family or BPI Direct. Ang BPI Family ay savings bank or thrift bank; subsidiary ng BPI. Ang BPI Direct ay Internet bank ng BPI. Puede kang mag-open ng Express Teller savings sa BPI Direct sa 500 pesos lang ang maintaining balance. You will choose a branch where you will present your IDs and get your atm card. If you like to open immediately, open an atm savings account at BPI Family — maintaining balance is only 1k.

  59. hi po.. just want to ask , im a beginner po.. just want to know the difference bet. BPI,BPI family savings account, BPI direct savings and BPI Island?? nalilito po kase ako.. and ano po masasuggest nyo na bank for me.. when it comes to highest interest, low maintaining balance at walang charge pag magchecheck ng balance o magwiwithdraw ?

  60. Hi Nika, merong BDO Power Teens Club passbook and ATM account for 13 to 19 years old teens, with a required maintaining balance of 2,000 pesos. Penalty for falling below maintaining balance and for closure within 30 days after opening is 300 pesos. BPI offers Jumpstart Savings for 10 to 17 years old teens. Required maintaining balance at BPI Family is 500 pesos and 1,000 pesos at Bank of Philippine Islands. Yong BPI Easy Saver, walang maintaining balance, pero merong 5-peso atm withdrawal/balance inquiry fee. Bring your school ID, 2 id pictures, and other IDs that you have, plus NSO birth cert if you have.

  61. hello .16 years old po ako . ano pong mgandang bank pra skin since yung ibang bank po ata pang 18 years and up ?

  62. Hi whina, BDO Kabayan is for OFWs, so present a receipt of a recent remittance from abroad (any remittance firm) plus your valid IDs and 2 ID pictures. If you don’t have a remittance receipt, try opening a BPI Easy Saver account at BPI — this is a zero-maintaining account, but there’s a 5-peso fee for every atm withdrawal or balance inquiry.

  63. anu po bang bank ang maganda for savings ? ung 0 maintaining balance . and low initial deposit ?

  64. hello , gusto ko lng po malaman kung anu mga requirements to have a BDO kabayan ? tnx godbless

  65. Hi Xi, that’s great! Thanks for sharing. Sige I’ll add ONB to the list later. Or maybe I’ll just make a similar post for rural banks. best regards

  66. To add to the info, the maintaining balance of One Network Bank is only P100.00

  67. Hi Ian, thanks a lot for the info. Will update. best regards

  68. Fyi chinabank ha increase its monthly maintaining balance to earn interest from 1k its now 5k

  69. Yes tita thank you. Soon ill include real estate in the meantime ill first concentrate on philamlife any ways there stable with solid track record both life n non life plans. There even good on there educational plan

  70. Hi Ian, yes, I’ll refer if I encounter someone online. Emphasize the name Philam because many prospective customers have been discouraged by the failure of National Insurance and several pre-need firms. I hope you also explore real estate; it’s easier to sell something that’s concrete.

  71. Im still looking for clients bothe life products n unit link plans its hard to find

  72. I hope so tita if you know someone who interested on getting insurance and investement at the same time feel free. Still looking f

  73. Hi Ian, that’s great, getting your license. I wish you the best in that profession

  74. Hi tita its been awhile i just have my license po im not a financial adviser of philamlife hopefully i can stay long

  75. Hi andei, I think one remittance receipt is enough. Bring 2; yes, even if they’re from last year. About the effect of closed accounts: I think it would depend on the officer serving you. But usually they allow as long as you have valid IDs. Go to a different branch.

  76. Hi,just wanna know how many reciept from remittance needed to show to open account at bdo?i have many reciept from western but they are of last year pa.will it affects if you had two previous account closed from bdo?would like to hear your swift reply.Thank you very much,more power!!

  77. Hi Jerome, BDO Kabayan lang ang passbook account na zero maintaining balance, pero dapat meron kang foreign remittance receipt to present, and you need to have at least 1 foreign remittance in a year. All passbook accounts have higher maintaining balances because of the passbook, posting, etc. Merong mga 500-peso or 1k-maintaining-balance accounts sa mga smaller savings banks like CityState.

  78. Hi po gusto ko po sanang mag open ng savings account yung di atm then with lower maintaining balance and at most 500- 1000 po yung opening ng account. ano po ba massasuggest nyo. nagtry po kasi ako sa allied kasi yung cash card ko is allied peru mahal kasi ng passbook account opening nila.

  79. Hi jed, is this a payroll account? I asked because the maintaining balance requirement is only 100 pesos. In other banks, there’s no balance requirement for payroll accounts — it would be the company that will maintain an amount for the main corporate account. I’m surprised that Landbank has this requirement, as per a DECs circular that I came upon online — or maybe because DECS is not required to maintain a corporate account with them?
    The instruction given in the circular I’ve read was for you to deposit 100 pesos in your account — you might be required to pay 200 pesos for reactivation, depending on the branch, or the length of time your account has fallen below 100k. If you have time, would you please tell us if this is a payroll account for a government institution? Thanks

  80. Sir Ian, may I ask about Landbank? What is the penalty if your LANDBANK(current)account falls below its 100 maintaining balance? And what should I do? Should I go to the bank and report this right away? Does it take time to process this? Is there any consequence aside from giving the penalty the bank requires? Thank you so much, Sir!

  81. updated info on the Savings account of Bank of Commerce

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