You can open this BPI savings account for OFWs — Pamana Padala — for only 500 pesos. Why is this a good savings account? It comes with free accident and life insurance. Basta regular ka lang na mag-ipon sa account na ito. This is good for your family just in case you are called to […]
Category: Savings Accounts
Best Bank in the Philippines for Savings
The best bank in the Philippines for savings is a well-established bank that offers the biggest interest rate for savings accounts and is located near where you work or live. But since the interest rates for savings account deposits are now negligible, like 0.25% annually, the best savings account would be an account with incentives […]
Best Savings Account, Philippines
What’s the best savings account in the Philippines? We will have different answers and most of us will all be correct. It’s because “the best” means which savings account will fulfill our needs and which gives us the most convenience. For me, the best savings accounts are: BPI Family atm savings account and BDO atm […]
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 […]
OFWs Can Open This Landbank Savings Account While Abroad
Updated January 14, 2018 You can open this special Landbank savings account for OFWs while abroad, if you are in a city or country where there is a Landbank Overseas Representative Officer. This account was previously called Overseas Filipino ATM Account, offered to OFWs. Now it is called Bagong Bayani ATM Account. It’s an atm […]
Is Your BDO Kabayan Savings Account Active?
10,000 Pesos — this is now the maintaining balance requirement for a regular BDO passbook savings account. This change was put into effect on May 1, 2014. If you’re not able to maintain your account for 2 consecutive months, 300 pesos will be deducted from your account on the last day of the 2nd month. […]
Is This How to Compute Savings Account Interest?
This QUESTION about how to compute savings account interest was posted in our Comments section: Hi Admin, let’s say I have P10,000 in my savings account, is the interest based on what is saved in my account? So my interest is 10,000 x 0.25% = 2,500, so now I have 12,500 because of the interest? […]
How to Compute Monthly Average Daily Balance (MADB)
How Can I Know If My Bank Account Is Below the Maintaining Balance Requirement? Deposit the required maintaining balance, do not touch it, so you don’t have to worry about the maintaining balance requirement. But in case you withdraw more than what you should, deposit higher amounts over the next days so your Monthly Average […]
OFW Savings Accounts in Pesos
Updated March 18, 2018 Here are OFW savings accounts offered by different banks in the Philippines: Advantages of getting an OFW savings account instead of a regular account: – No maintaining balance – No initial deposit or low amount of initial deposit Common requirements in opening an OFW account: Requirements vary from bank to bank, […]
BDO Kabayan Savings Account — BDO Passbook Lost
Here are the rules that you need to know in case you lose your BDO Kabayan Passbook: Submit to your BDO branch a notarized Affidavit of Loss of Passbook. Excerpts from BDO Kabayan Passbook’s Rules and Regulations: 2. DEPOSIT PASSBOOK — Upon opening of a savings account, the Bank will furnish the depositor a deposit […]