Checking Accounts with Low Maintaining Balance Requirements

Here’s a list of Philippine banks offering REGULAR CHECKING ACCOUNTS for INDIVIDUALS, requiring low maintaining balances.

Banks do not say it on their websites, but in practice, they DO NOT approve all checking account applications. They need to see evidences of good personal financial handling, such as maintenance of a savings account or a time deposit, or completion of bank or car loan payments.

It also depends on the location of the bank, or on factors such as if the branch is newly opened, or there’s an on-going promotion for expansion, on the kinds of IDs or licenses you show, your aura or the way you present yourself. The banks also consider referrals or recommendations from corporate clients or bank executives.

We can presume that they’re strict with checking accounts because of the possible use of checks for fraud and possible estafa and fraud cases that can arise from bounced checks.

But don’t be discouraged if you really need checks for your business. You can open a checking account with a smaller bank. Banks are just like most persons. If they’re sikat na and big-time na, they start to get very choosy about whom to socialize with. They can already afford to feel superior and ask “Ano ba ang ROI ko rito sa client na ito?”

But if they’re just starting out, they try to be friendly with everyone. Banks are also like persons in the sense that there are people and banks which are friendly whatever their status is, friendly when they’re still small, and still friendly when they’ve become big.

Checking Accounts with Maintaining Balances of 2,500 pesos or lower

Bank Minimum Initial Deposit      Interest
and Maintaining Balance
CityState 1,500 pesos with interest
Bank of Commerce 2,000 no interest
GSIS Family Bank 2,000 no interest
Philippine Business Bank 2,000 no interest
Luzon Development Bank      2,000 no interest
RCBC Savings 2,500 no interest

Checking Accounts with Maintaining Balances of 5,000 pesos or lower

All of the following are No-Interest accounts:

Bank Minimum Initial Deposit and
Maintaining Balance
Allied Bank 5,000
BDO 5,000
BPI Family 5,000
DBP 5,000
EastWestBank 5,000
Landbank 5,000
Luzon Development 5,000
Philtrust 5,000
Planters Development        5,000
Postal Bank 5,000
Premiere Development 5,000
PS Bank 5,000
Security Bank 5,000
UCPB 5,000
Veterans Bank 5,000

Checking Accounts with Maintaining Balances of 5,000 pesos or lower and with Interest

Bank Maintaining Balance Balance to Earn Interest Interest Rate
Equicom Savings 5,000 5,000 up to 0.75%
Sterling Bank of Asia    5,000 5,000 0.50 %
ChinaBank 5,000 20,000 0.25 %
Robinsons Bank 5,000 25,000 0.25 %
CityState 5,000 10,000 rate not posted

Checking Accounts Requiring Maintaining Balances of 10,000 pesos

Bank Maintaining Balance Amount to Earn Interest Interest Rate
Bank of Commerce
Your Complete Checking Account 10,000 25,000 rate not posted
BPI Family
Ka-Negosyo 10,000 50,000 0.625 %
Chinatrust 10,000 50,000 0.50 %
DBP 10,000 10,000 rate not posted
First Consolidated Bank 10,000 no interest
Regular Peso EASY Check 10,000 10,000 0.50 %
Metrobank 10,000 no interest
Planters Bank 10,000 10,000 rate not posted
PNB 10,000 no interest
RCBC 10,000 none or not posted
RCBC Savings
Basic Checking 10,000 25,000 0.50 %
Security Bank 10,000 10,000 0.25 %
UnionBank 10,000 no interest
Veterans Bank 10,000 10,000 0.50 %

* All interest earnings subject to 20% withholding tax
* These banks have other types of checking accounts, such as those:
– which require higher maintaining balances
– with automatic transfer arrangements (ATA) from linked savings banks
– for companies

Related Articles:
Interest-Bearing Checking Account with Low Maintaining Balance
Maintain a Savings Account to Prepare for Checking Account Opening


  1. Unknown 02/15/2018
  2. Anonymous 04/16/2018
  3. Anonymous 10/18/2018

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