Bank & Product Name Interest up to Initial Deposit Balance to earn Interest Fine Print Apply
Citibank Citi e-Savings Plus

2.00%

100,000 100,000 Regular e-savings account 2.50% for Citibank Savings Apply
RCBC Savings Bank Dragon Peso Savings Account

RCBC Savings Bank logo

1.75%

25,000 25,000 Regular savings account Apply
Chinabank Diamond Savings

1.50%

50,000 50,000 Regular savings account Apply
Citibank Citi e-Savings

1.50%

100,000 100,000 2.25% for Citibank Savings Apply
BDO Optimum Peso Savings Account - Corporate

1.25%

50,000 50,000 Save more with higher interest rates and withdraw from your account for free up to 3 times a month Apply
BDO Optimum Peso Savings Account - Personal

1.25%

30,000 30,000 Save more with higher interest rates and withdraw from your account for free up to 3 times a month Apply
Security Bank Build-up Savings

1.25%

5,000 5,000 A regular savings account that only let's you withdraw money for free up to three times a quarter. Apply
Equicom Savings Bank Kiddie Builders Savings Account

Equicom Savings Bank logo

1.00%

500 1,000 Free dental and medical benefits when account balance reaches P15,000 Apply
Maybank IM Teen Savings Account

1.00%

500 5,000 Savings account with a personal accident and medical reimbursement benefit for individuals aged 13 to 17 Apply
Maybank Yippie Savings Account

1.00%

500 5,000 Free Personal Accident Insurance: Up to P500,000, Savings account with a personal accident and medical reimbursement benefit for individuals aged 12 and below, Free personal accident insurance coverage with medical reimbursement benefits Apply
BPI Save-Up Automatic Savings

0.88%

5,000 Basic Life Insurance: 5x account balance up to P2 million, Savings account with option of higher interest rate or free BPI-Philam Life insurance; or A free life insurance coverage up to 10x account balance Apply
BPI Advance Savings Account

0.75%

100,000 100,000 Apply
Citibank Citi Peso High Rate Saver

0.75%

100,000 100,000 Savings account with bonus interest rate feature (0.25% p.a. for consecutive increase) Earn bonus interest rate of 0.25% p.a. Apply
BPI Direct Savings Direct Express Teller Savings

BPI Direct Savings logo

0.50%

500 500 Monitor and manage your accounts anytime, anywhere easily with superior electronic banking channels Apply
BPI Direct Savings BPInoy Savings

BPI Direct Savings logo

0.50%

0 500 Receive remittances fast and safe with your Bpinoy Savings Account Apply
BPI Direct Savings Direct Maxi-Saver Savings

BPI Direct Savings logo

0.50%

25,000 25,000 Enjoy bigger earnings from your savings account without having your funds locked up Apply
BPI Direct Savings Save-Up Automatic Savings + Insurance

BPI Direct Savings logo

0.50%

0 1,000 A savings account that comes with free life insurance coverage Apply
BPI Family Savings Maxi-Saver Savings with Passbook (Corporate)

BPI Family Savings logo

0.50%

50,000 50,000 Enjoy bigger earnings from your savings account without having your funds locked up Apply
BPI Family Savings Maxi-Saver Savings with Passbook

BPI Family Savings logo

0.50%

50,000 50,000 Enjoy bigger earnings from your savings account without having your funds locked up Apply
BPI Family Savings Maxi-Saver Savings with ATM

BPI Family Savings logo

0.50%

25,000 25,000 Enjoy bigger earnings from your savings account without having your funds locked up Apply
BPI Family Savings Save-Up Automatic High Savings

BPI Family Savings logo

0.50%

0 3,000 Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance Apply
BPI Family Savings Save-Up Automatic Savings + Insurance

BPI Family Savings logo

0.50%

0 3,000 A savings account that comes with free life insurance coverage Apply
BPI Family Savings Get Started Savings Account with Life Insurance - Passbook

BPI Family Savings logo

0.50%

50,000 50,000 Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance Apply
BPI Family Savings Get Started Savings Account with Life Insurance - ATM

BPI Family Savings logo

0.50%

5,000 10,000 Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance Apply
BPI Family Savings Jumpstart Savings

BPI Family Savings logo

0.50%

100 1,000 Savings account especially designed for children age 10-17 y/o, for them to get the best out of saving Apply
BPI Family Savings Passbook Savings

BPI Family Savings logo

0.50%

10,000 25,000 Safekeep your money and easily track your transactions with Passbook Savings Apply
BPI Family Savings Easy Saver

BPI Family Savings logo

0.50%

200 1,000 Open your own savings account for only ₱200 Apply
BPI Family Savings Express Teller Savings

BPI Family Savings logo

0.50%

500 3,000 Your Express Teller account comes with a partner account that allows you to automatically save every after payday Apply
Chinabank MoneyPlus Savings

0.50%

20,000 20,000 Regular savings account Apply
Equicom Savings Bank Passbook Savings Account

Equicom Savings Bank logo

0.50%

5,000 5,000 Regular savings account with a passbook Option of ATM Key Card with Debit Card function Apply
Equicom Savings Bank ATM Savings Account

Equicom Savings Bank logo

0.50%

100 5,000 Regular savings account Apply
Maybank Classic Savings Account

0.50%

10,000 10,000 Apply
Maybank Save 'n Protect Savings Account

0.50%

20,000 20,000 Average Daily Balance should be 50,000 to avail of insurance coverage, Free Life Insurance Coverage: Up to P3 million for multiple accounts, Savings account with free life insurance benefit, Free life insurance coverage if your savings reaches P50,000, Free initial inter-country access ATM card Apply
Maybank Value Savings Account

0.50%

500 10,000 Regular savings account Apply
Planters Bank SME Teen Club

0.50%

1,000 2,000 Exclusively for teens aged 13 to 19 Apply
Planters Bank Regular Savings Account

0.50%

3,000 5,000 Apply
Planters Bank SME Kiddie Club

0.50%

500 1,000 Exclusively for kids between age 12 and 17 Apply
PSBank Instant ATM Savings

PSBank logo

0.50%

2,000 2,000 Regular savings account Apply
PSBank PSBank Regular Passbook Savings with ATM

PSBank logo

0.50%

5,000 5,000 Regular savings account with a passbook Apply
PSBank PSBank Regular Passbook Savings

PSBank logo

0.50%

5,000 5,000 Regular savings account with a passbook Apply
RCBC Savings Bank WISE Savings Account

RCBC Savings Bank logo

0.50%

500 5,000 Free Personal Accident Insurance: Minimum account opening of P1,000, Exclusively for individuals aged 7 to 14 Free personal accident insurance for both parent and child Apply
RCBC Savings Bank E-Passbook

RCBC Savings Bank logo

0.50%

30,000 30,000 Regular savings account with an e-passbook Apply
RCBC Savings Bank Basic Savings Account (Passbook)

RCBC Savings Bank logo

0.50%

5,000 25,000 Regular savings account with a passbook Apply
Sterling Bank of Asia Solo Savings Account

Sterling Bank of Asia logo

0.50%

5,000 Regular savings account Apply
BDO Smart Checking Account - Commercial

0.25%

25,000 25,000 Enjoy convenience of having both a checkbook and an ATM Debit Card Apply
BDO Smart Checking Account - Personal

0.25%

15,000 15,000 Enjoy convenience of having both a checkbook and an ATM Debit Card Apply
BDO Power Teens Club

0.25%

2,000 2,000 Savings account for kids age 13-19 y/o which they can open with an ATM Card Apply
BDO Peso Passbook Savings Account

0.25%

5,000 10,000 Enjoy the security of a passbook and earn fixed interest on your savings. Apply
BDO Peso ATM

0.25%

2,000 5,000 Use your ATM to shop without having to carry cash using your ATM Debit Card. Apply
BDO Junior Savers Club

0.25%

100 2,000 Savings account for kids age 7-12 y/o which comes with an ATM Card Apply
BDO Direct Deposit Peso Savings Account

0.25%

5,000 Receive your pension through your Direct Deposit Peso Savings Account Apply
BPI Maxi-Saver Savings with ATM

0.25%

50,000 50,000 Enjoy bigger earnings from your savings account without having your funds locked up Apply
BPI Jumpstart Savings

0.25%

100 2,000 Savings account especially designed for children age 10-17 y/o, for them to get the best out of saving Apply
BPI Get Started Savings Account with Life Insurance

0.25%

25,000 25,000 Free insurance up to P2 million, Savings account with free BPI-Philam Life Insurance Free BPI-Philam Life Insurance up to 5x account balance Choose between an ATM or a passbook. Apply
BPI Express Teller Savings

0.25%

500 5,000 Juggle your day-to-day finances with an ATM Savings Account that provides 24-hour superior electronic banking convenience Apply
BPI Passbook Savings

0.25%

10,000 25,000 Regular savings account with a passbook Apply
BPI Easy Saver

0.25%

200 1,000 Saving made easy and worry-free because it has no maintaining balance Apply
Chinabank Statement of Savings

0.25%

1,000 1,000 Regular savings account Apply
Chinabank Passbook Savings

0.25%

1,000 1,000 Regular savings account with a passbook Apply
Citibank Citi Peso Bonus Saver

0.25%

50,000 50,000 Bonus Interest: Increase average balance by P5,000 per month Apply
EastWest Bank ATM Access Savings Account

0.25%

2,000 10,000 Regular savings account with a passbook Apply
EastWest Bank Passbook Savings Account

0.25%

5,000 10,000 Regular savings account with a debit card Apply
EastWest Bank Passbook + Debit Card

0.25%

10,000 25,000 Regular savings account with a passbook and debit card Apply
EastWest Bank Cool Savers Kiddie Account

0.25%

2,000 2,000 Exclusively for individuals aged 18 and below Apply
EastWest Bank Basic Savings Account

0.25%

100 500 Regular savings account with a debit card Apply
Metrobank US Pensioner Savings Account

0.25%

500 10,000 Pensioner savings account Apply
Metrobank SSS Pensioner Savings Account

0.25%

100 10,000 Pensioner savings account Apply
Metrobank Passbook Savings Account

0.25%

10,000 10,000 Regular savings account with a passbook Apply
Metrobank OFW Savings Account

0.25%

10,000 Regular savings account Apply
Metrobank ET SSS Pensioner Savings Account

0.25%

100 10,000 Pensioner savings account Apply
Metrobank ET Savings Account

0.25%

2,000 10,000 Regular savings account Apply
Metrobank ET OFW Savings Account

0.25%

10,000 Regular savings account Apply
Metrobank Fun Savers Club

0.25%

500 4,000 Exclusively for kids and teens under 18 Apply
Security Bank Peso Savings

0.25%

500 500 Regular savings account either you get an ATM or a Passbook Apply
UCPB Multi One

0.25%

20,000 20,000 Savings account with current account features Apply
UCPB Regular Peso Savings Account

0.25%

2,000 10,000 Regular savings account You can either get an ATM or a Passbook. Apply
UCPB Kiddie Max Account

0.25%

500 10,000 Regular savings account Apply
Malayan Bank Peso Savings Account

Malayan Savings and Mortgage Bank logo

0.10%

1,000 500 Regular savings account with a passbook Apply
Malayan Bank ATM Savings Account

Malayan Savings and Mortgage Bank logo

0.10%

1,000 500 Regular savings account Apply
Union Bank UnionBank Savings Account

0.10%

100,000 25,000 Regular savings account Apply
BDO Peso Checking Account

0.00%

5,000 0 Enjoy convenience of having both a checkbook and an ATM Debit Card Apply

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Frequently Asked Questions

What is a Savings Account?

Available on demand, a savings account allows you to save money depending on a consumer’s pace. Also known as passbook savings in the Philippines, it is available on a wide range of currencies, peso and dollar being the most popular. The savings account is considered as highly-liquid cash with limits dictated by a financial institution’s standard procedure.

What is a Checking Account?

Checking account is a form of deposit that allows the depositor to withdraw an unlimited amount of deposit amount thru numerous withdrawals, checks and electronic debits being the popular methods. Typically, checking accounts do not offer interest rates in exchange for its liquidity.

What is a Debit Card?

A debit card is a plastic card issued by banks to its depositors to access their deposits. It is for convenience because it is an accessory used in ATMs for depositors to debit or credit money from their accounts. Because it is electronic, a debit card’s strength is also secure, it is protected by a Personal Identification Number or PIN only known by the depositor. Debit cards are also used to pay for good and services through a use of a POS Terminal.

How to Open a Savings Account?

Opening a savings account in the Philippines requires the depositor to visit their desired bank. This requires the depositor to carry a specific sum of money, and identification to open a savings account.

What are Savings Account Requirements?

Opening a savings account typically asks the customer to bring identification such as school IDs, government issued IDs, an ID photo and the required initial deposit for the savings account.

Should I get a Passbook Savings Account or a Debit card?

It depends on the consumer. Some prefer getting a passbook savings account for better discipline in saving money. Withdrawing money from passbook savings require the depositor to visit a bank branch, wait for the bank tellers call out their names and perform the transaction. Whereas in a debit card, the consumer can visit any ATM (which has more accessibility) and more often than not, saves the depositor, time.

Got a question about Saving Account? Ask us in the comment box below.





Bank Accounts Comparison

Why is it necessary to compare bank accounts? The mere fact that a depositor is entrusting a bank of its hard earned money is already a valid reason. Savings account, like most products in the market differs by the provider, factors like interest rates, branches near the consumer, initial deposit and balance to earn interest are important for consumers to consider to make bank accounts helpful.

Best Bank to Open a Savings Account

The best bank to open a savings account will depend on the consumer’s judgement of what best is. Most of the time, a savings account is rated depending on the number of branches or ATMs that bank services and the interest rate. But for some, the initial deposit is more important, because it is ease of maintenance. Use our savings account comparison table for a better reference of all the savings account available in the Philippines.

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