Savings Accounts with Low Maintaining Balance Requirements

Updated February 3, 2018

You need to maintain a certain minimum amount in your bank account so that your bank will continue to manage your account. This certain minimum is called Maintaining Balance.

Maintaining Balance is also called Monthly Average Daily Balance (MADB).

If you fail to maintain your MADB for 2 consecutive months (dalawang magkasunod na buwan), your account will be deducted with 300 pesos to 500 pesos at the end of the second month. The deduction will continue from month to month until you are able to maintain your ADB for the month.

Here are Bank Savings Accounts Requiring an MADB of Only 500 Pesos:

CHINABANK Savings (CBS)
Easi-Save ATM Account
Opening Balance: 500 Pesos
Minimum Maintaining balance: 500 pesos
Minimum ADB to earn interest: 1,000 pesos

Easi-Save Passbook
Opening Balance: 500 Pesos
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 1,000 pesos
Service charge if you close within 90 days: 200 pesos

LANDBANK 
Savings Account with ATM Access
Minimum Initial Deposit: 500 pesos
Maintaining Balance: 500 pesos
Required daily balance to earn interest: 500 pesos
Maximum ATM Withdrawal Amount Per day: 50,000 pesos
Penalty for Below Minimum MADB for 2 consecutive months: 300 pesos

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BANK  Of  COMMERCE
ATM Savings
Minimum Initial Deposit: 500 pesos
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 5,000 pesos
Interest credited monthly


RCBC SAVINGS BANK
Basic Savings Account with ATM Card
Minimum Initial deposit: 500 pesos
Maintaining Balance: 500 pesos
MADB to Earn Interest: 25,000.00 pesos
Dormancy Fee: 500 pesos
Below MADB Fee: 500 pesos
Early Closure Fee: 500 pesos

DBP   Development Bank of the Philippines
Peso ATM or Passbook Account
Minimum initial deposit: 500 pesos
Maintaining Balance: 500 pesos
Minimum ADB to earn interest: 500 pesos

CITYSTATE  SAVINGS
Peso ATM Savings Account
Minimum initial deposit: 500 pesos
Maintaining balance: 500 pesos
Min bal to earn interest: 1,000 pesos
Interest credited monthly


Peso Passbook Savings Account with ATM Card 
Minimum initial deposit: 500 pesos
Maintaining balance: 500 pesos
Minimum ADB to earn interest: 1,000 pesos
Interest credited monthly
Can be used to transfer funds to other BancNet-member bank accounts

BANK OF MAKATI
Regular Savings Account
Initial deposit: 500 pesos
Maintaining balance: 500 pesos
Min ADB to earn interest: 1,000 pesos

Power Build-Up Savings Account
Initial deposit: 500 pesos
Maintaining balance: 500 pesos
You earn interest if you withdraw only up to 2 times a month.

*For both accounts, a service fee of 50 pesos per month is charged if you fall below the required ADB

POSTAL BANK   Philippine Postal Savings Bank
PostalCash ATM Account
Maintaining Balance: 500 pesos
Minimum ADB to Earn Interest: 1,000 pesos
Interest compounded monthly, credited quarterly


Peso Passbook Savings Account
Maintaining Balance: 500 pesos
Minimum ADB to Earn Interest: 1,000 pesos
Interest compounded monthly, credited quarterly

Service fee for falling below MADB for 2 consecutive months: 100 pesos

Savings Accounts with an MADB of Only 1,000 Pesos:

BPI FAMILY SAVINGS BANK
Express Teller ATM Savings
Maintaining Balance: 1,000 pesos
Min Amount to Earn interest: 3,000 pesos

PHILIPPINE VETERANS BANK
Regular Peso Savings for Non-Veterans
Opening deposit: 1,000 pesos
Maintaining balance: 1,000 pesos
Minimum ADB to earn Interest: 10,000 pesos
Choice of passbook and/or ATM

PHILIPPINE BUSINESS BANK
Passbook Savings Account

Opening deposit: 1,000 pesos
Maintaining Balance: 1,000 pesos
Minimum ADB to Earn Interest: 1,000 pesos


Common requirements in opening a bank savings account:

Two valid IDs
       – Some banks are satisfied with just 1 valid ID
         if it’s a passport, unexpired driver’s license, SSS or GSIS ID.
Two 1×1 ID pictures
       – Some banks require 2×2 ID pictures
Tax Identification Number (TIN)
        – TIN is needed because account owners pay tax on interests earned kahit super liit.
        – not required for students
Plus
Proof of home address
     (Some banks require this. If you have a Meralco, PLDT, Globe, Smart or other utility bill in your name, bring it in case it’s required.)


For Students:
Latest School ID (with photo, signed by school head)
Birth Certificate

For In-Trust-For (ITF) Accounts (for kids who are not yet able to sign):
Birth certificate
School ID (with photo and school head’s signature)
Parent needs to present valid ID

Remember, if your account is ATM-based, and you do not have a passbook,
most banks require you to withdraw only through the ATM.
You’ll pay a fee if you withdraw over the counter.

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