Bank & Product Name Interest up to Initial Deposit Balance to earn Interest Fine Print 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
Equicom Savings Bank Kiddie Builders Savings Account

Equicom Savings Bank logo

1.00%

500 1,000 An interest bearing passbook savings product designed for kids with high interest rate. Apply
Sterling Bank of Asia Bayani OFW Savings Account

Sterling Bank of Asia logo

1.00%

0 2,000 Account intended to support the requirement and needs of Overseas Filipino Workers (OFWs) Apply
BPI Advance Savings Account

0.75%

100,000 100,000 Apply
Citibank Citi e-Savings

0.75%

100,000 100,000 High interest earning savings account that lets you enjoy frree and unlimited Citibank Online funds transfer Apply
Citibank Peso Bonus Saver

0.70%

50,000 50,000 Savings account that increases its interest rate as your savings increase Apply
Citibank Citi Peso High Rate Saver

0.70%

100,000 100,000 Enjoy high interest rates and the convenience of checking your balance and transferring funds online 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
Equicom Savings Bank Regular Checking Account

Equicom Savings Bank logo

0.50%

5,000 5,000 Manage your payables with the convenience of check issuance Apply
Equicom Savings Bank Passbook Savings Account

Equicom Savings Bank logo

0.50%

5,000 5,000 Monitor your deposits and withdrawals with a savings plan with low opening and maintaining balance Apply
Equicom Savings Bank ATM Savings Account

Equicom Savings Bank logo

0.50%

100 5,000 A product that provides convenient withdrawals via our Equicom Key Card(ATM/debit card) Apply
Maybank Yippie Savings Account

0.50%

500 5,000 Open a savings account for your children ages 12 years old and below that comes with a personal accident insurance Apply
Planters Bank B Club Checking Account

0.50%

1,000 2,000 Interest bearing checking account that comes with ATM and passbook Apply
Planters Bank SME ATM Account

0.50%

3,000 5,000 Savings account for your children ages 13-19 y/o Apply
Planters Bank Check and Save Account

0.50%

20,000 20,000 An account which allows automatic transfer of cash from your savings to your checking account to fund your check Apply
Planters Bank Regular Checking Account

0.50%

5,000 10,000 Checking account that comes with an ATM facility Apply
Planters Bank SME Teen Club

0.50%

1,000 2,000 Savings account for your children ages 13-19 y/o Apply
Planters Bank Regular Savings Account

0.50%

3,000 5,000 Know that your money's safe with a savings passbook account Apply
Planters Bank SME Kiddie Club

0.50%

500 1,000 Savings account for your children ages 7-12 y/o Apply
PSBank Premium Checking Account

PSBank logo

0.50%

25,000 25,000 A high-earning checking account. Apply
PSBank Instant ATM Savings

PSBank logo

0.50%

2,000 2,000 A savings account that brings you the combined privileges of day and night banking access via the automated teller machines of PSBank and Metrobank Apply
PSBank PSBank Regular Passbook Savings with ATM

PSBank logo

0.50%

5,000 5,000 A passbook savings account that offers one free inter-regional transaction per day. Apply
PSBank PSBank Regular Passbook Savings

PSBank logo

0.50%

5,000 5,000 Peso-denominated deposit account that brings you the convenience of the traditional passbook for easy tracking of transactions Apply
Sterling Bank of Asia Solo Savings Account

Sterling Bank of Asia logo

0.50%

5,000 5,000 Peso savings account that you can open at any amount Apply
Sterling Bank of Asia Neo Savings Account

Sterling Bank of Asia logo

0.38%

0 2,000 A special savings deposit account for kids ages 17 and below. 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 Save-Up High Automatic Savings

0.25%

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

0.25%

0 5,000 A savings account that comes with free life insurance coverage Apply
BPI Get Started Savings Account with Life Insurance - Passbook

0.25%

75,000 75,000 Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance Apply
BPI Get Started Savings Account with Life Insurance - ATM

0.25%

25,000 25,000 Savings account that comes with a free life insurance equivalent to up to 5x your savings account balance Apply
BPI Passbook Savings

0.25%

10,000 25,000 Safekeep your money and easily track your transactions with Passbook Savings Apply
BPI Maxi-Saver Savings with Passbook (Corporate)

0.25%

250,000 250,000 Enjoy bigger earnings from your savings account without having your funds locked up Apply
BPI Maxi-Saver Savings with Passbook

0.25%

75,000 75,000 Enjoy bigger earnings from your savings account without having your funds locked up 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 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 Easy Saver

0.25%

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

0.25%

0 1,000 Savings account especially designed to facilitate OFW's and their beneficiaries in transferring remittances Apply
Chinabank ATM Savings

0.25%

2,000 5,000 Enjoy 24/7 access to your account through your ATM and receive monthly statements Apply
Chinabank Passbook Savings

0.25%

5,000 10,000 Savings account that comes with a passbook for a low initial deposit Apply
Chinabank MoneyPlus Savings

0.25%

20,000 50,000 A passbook savings account that allows ypou to withdraw twice a month while enjoying high interest rates to encourage you to save more Apply
EastWest Bank ATM Access Savings Account

0.25%

2,000 10,000 ATM savings account that allows you to have up to four (4) extension cards for your family members Apply
EastWest Bank Passbook Savings Account

0.25%

5,000 10,000 Passbook savings account lets you track your transactions easily Apply
EastWest Bank Passbook + Debit Card

0.25%

10,000 25,000 Enjoy the advantages of having both a passbook and a debit card Apply
EastWest Bank Cool Savers Kiddie Account

0.25%

2,000 2,000 Savings deposit account for kids age 0-18 y/o Apply
EastWest Bank Basic Savings Account

0.25%

100 500 Open your own savings account for only ₱100 and earn interest when you reach at least ₱500 Apply
Maybank Classic Savings Account

0.25%

10,000 10,000 Apply
Maybank IM Teen Savings Account

0.25%

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

0.25%

20,000 50,000 Open a savings account and get a free life insurance for account holders ages 18-60 y/o Apply
Maybank Value Savings Account

0.25%

500 10,000 An affordable and easy-to use ATM-based savings account Apply
Metrobank US Pensioner Savings Account

0.25%

500 10,000 Keep track of your savings account with a personal passbook Apply
Metrobank SSS Pensioner Savings Account

0.25%

500 10,000 Keep track of your savings account with a personal passbook Apply
Metrobank Passbook Savings Account

0.25%

10,000 10,000 Keep track of your savings account with a personal passbook Apply
Metrobank OFW Savings Account

0.25%

0 10,000 Keep track of your savings account with a personal passbook Apply
Metrobank ET SSS Pensioner Savings Account

0.25%

100 10,000 Perform your transactions at any ATM Metrobank terminal using your ATM card Apply
Metrobank ET Savings Account

0.25%

2,000 10,000 Perform your transactions at any ATM Metrobank terminal using your ATM card Apply
Metrobank ET OFW Savings Account

0.25%

0 10,000 Perform your transactions at any ATM Metrobank terminal using your ATM card Apply
Metrobank Fun Savers Club

0.25%

500 4,000 Savings account for kids and teens under 18 y/o that comes with free insurance and educational benefit with min. ADB requirement Apply
RCBC iSave Account

0.25%

5,000 5,000 Savings account that earns higher interest rate plus get a free insurance and hospitalization benefit from Malayan Insurance Apply
RCBC Super Earner Savings Account

0.25%

25,000 25,000 Account that encourages you to save more by limiting your withdrawals to one per month Apply
RCBC Dragon Peso Savings Account (ATM)

0.25%

50,000 50,000 A tiered interest rate savings account that maximizes returns to your deposits. Apply
RCBC Dragon Peso Savings Account (Passbook)

0.25%

25,000 25,000 A tiered interest rate savings account that maximizes returns to your deposits. Apply
RCBC e.Woman Savings Account

0.25%

15,000 15,000 Lets you enjoy the perks and privileges of the e.WOMAN savings account with a lower initial deposit! Apply
RCBC SSS Pensioner Account

0.25%

100 10,000 Savings account designed fo Filipino retirees with SSS pensions Apply
RCBC Regular Savings Account with Passbook

0.25%

10,000 10,000 RCBC savings account that comes with a passbook Apply
RCBC Regular Savings Account with ATM

0.25%

3,000 3,000 RCBC savings account that comes with an ATM Apply
Sterling Bank of Asia Duo Checking Account

Sterling Bank of Asia logo

0.25%

0 5,000 Enjoy the convenience of having a Visa Debit Card and a checkbook Apply
UCPB U-remit Peso Checking Account

0.25%

2,000 5,000 Checking account especially made to cater to OFW's Apply
UCPB U-remit Passbook Savings Account

0.25%

100 500 Passbook account especially made to cater to OFW's Apply
UCPB U-remit ATM Savings Account

0.25%

0 500 ATM account especially made to cater to OFW's Apply
UCPB Regular Peso Savings Account (Passbook)

0.25%

10,000 10,000 Easily monitor your bank transactions with a passbook savings account Apply
UCPB Regular Peso Savings Account (ATM)

0.25%

2,000 10,000 Enjoy the convenience of having an ATM savings account Apply
UCPB Multi One

0.25%

25,000 25,000 Savings account tailored to fit your needs Apply
UCPB Kiddie Max Account

0.25%

500 10,000 Savings account tailored to fit your children's needs Apply
Security Bank All-access Account

0.20%

5,000 100,000 Have everything in one account: passbook, checkbook, Everyday MasterCard, and access to alternative channels Apply
Chinabank

0.13%

5,000 20,000 Checking account that has a low balance requirement and earns interest. Apply
Malayan Bank Peso Savings Account

Malayan Savings and Mortgage Bank logo

0.10%

1,000 1,000 An interest bearing savings account that comes with a passbook for easy tracking of your transactions Apply
Malayan Bank ATM Savings Account

Malayan Savings and Mortgage Bank logo

0.10%

1,000 1,000 An interest bearing savings account that comes with a passbook for easy tracking of your transactions Apply
Security Bank Easy Account

0.10%

5,000 100,000 The most convenient and hassle-free way to do your banking needs Apply
Union Bank Regular Savings Account

0.10%

30,000 50,000 Open a UnionBank Regular Savings Account for transactions anytime, anywhere. Apply
BDO Peso Checking Account

0.00%

5,000 0 Enjoy convenience of having both a checkbook and an ATM Debit Card Apply
EastWest Bank Cheque Max Account

0.00%

20,000 20,000 A premium account that offers unlimited check-writing convenience and multiple fund access anytime, anywhere Apply
Maybank Classic Checking Account

0.00%

10,000 0 Enjoy a safe way to make payments with a checking account Apply
Maybank Classic Checking Account

0.00%

10,000 0 Enjoy a safe way to make payments with a checking account Apply
PSBank Regular Checking Account

PSBank logo

0.00%

5,000 0 An account that provides you check-writing flexibility for worry-free financial transactions. Apply
UCPB Regular Current Account

0.00%

5,000 0 Enjoy the convenience of having a checkbook with a UCPB current account Apply
Union Bank Regular Checking Account

0.00%

35,000 0 Open a UnionBank Regular Checking Account for transactions anytime, anywhere. 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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