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


Peso Savings  Cash Link ATM Card

Maintaining Balance: 500 pesos
Deposit and withdraw through ATM


ATM Savings

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


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


Basic Savings Account with ATM Card

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


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


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


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


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


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


Cash Station Regular ATM

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


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


Add a Comment
  1. 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!

  2. 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

  3. 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.

  4. 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.

  5. 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!!

  6. 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.

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

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

  9. 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.

  10. 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

  11. 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

  12. 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.

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

  14. 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.

  15. 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 ?

  16. 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.

  17. 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

  18. 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?

  19. 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

  20. 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.

  21. 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

  22. 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.”

  23. 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

  24. 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.

  25. 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.

  26. 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

  27. 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.

  28. 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

  29. 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.

  30. 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,

  31. 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.

  32. 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.

  33. 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).

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