Find the best savings account rates from top Philippine banks. Compare initial deposits, maintaining balance requirements, and interest rates.
Protected up to ₱500,000
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Showing 22 savings account products
| Bank | Product Name | Initial Deposit | Min. MADB | Interest Earning Balance | Interest Rate | Action |
|---|---|---|---|---|---|---|
| BDO | Peso Passbook Savings | ₱5,000 | ₱10,000 | ₱10,000 | 0.0625% | Learn More |
| BDO | Peso ATM Savings | ₱2,000 | ₱2,000 | ₱5,000 | 0.0625% | Learn More |
| BDO | Junior Savers | ₱100 | ₱100 | ₱2,000 | 0.0625% | Learn More |
| BDO | BDO Kabayan Savings (Peso) | ₱100 | ₱0 | ₱5,000 | 0.0625% | Learn More |
| BDO | USD Savings Account | $200 | $500 | $500 | 0.05% | Learn More |
| BPI | #SaveUp | ₱1 | ₱0 | ₱5,000 | 0.0925% | Learn More |
| BPI | #MySaveUp | ₱1 | ₱0 | ₱5,000 | 0.0925% | Learn More |
| BPI | Jumpstart Savings | ₱100 | ₱1,000 | ₱2,000 | 0.0625% | Learn More |
| BPI | Regular Savings | ₱3,000 | ₱3,000 | ₱5,000 | 0.0625% | Learn More |
| BPI | Saver-Plus | ₱50,000 | ₱50,000 | ₱50,000 | 0.15% | Learn More |
| BPI | Maxi-Saver (Peso) | ₱2,000,000 | ₱2,000,000 | ₱2,000,000 | 0.125% + 0.125% bonus | Learn More |
| BPI | Passbook Savings | ₱10,000 | ₱25,000 | ₱25,000 | 0.0625% | Learn More |
| PNB | Debit Savings | ₱3,000 | ₱3,000 | ₱10,000 | 0.10% | Learn More |
| PNB | Passbook Savings | ₱10,000 | ₱10,000 | ₱10,000 | 0.10% | Learn More |
| PNB | TAP Mastercard Savings | ₱0 | ₱3,000 | ₱10,000 | 0.10% | Learn More |
| PNB | MyFirst Savings | ₱0 | ₱0 | ₱5,000 | 0.10% | Learn More |
| PNB | Top Saver Savings | ₱30,000 | ₱30,000 | ₱30,000 | 0.125% – 0.50% | Learn More |
| RCBC | Basic Savings | ₱100 | None | None | None | Learn More |
| RCBC | GoSavers (Kids & Teens) | ₱100 | None | ₱5,000 | 0.15% | Learn More |
| RCBC | iSave (Digital Virtual) | None | None | ₱5,000 | 0.15% – 0.20% | Learn More |
| RCBC | Regular Savings (ATM) | ₱3,000 | ₱3,000 | ₱25,000 | 0.15% | Learn More |
| RCBC | Regular Savings (Passbook) | ₱5,000 | ₱5,000 | ₱25,000 | 0.15% | Learn More |
A savings account is a basic bank account that allows you to deposit money, keep it safe, and earn interest. It provides easy access to your funds while helping your money grow.
Philippine savings accounts are insured by PDIC (Philippine Deposit Insurance Corporation) up to ₱500,000 per depositor, per bank, ensuring your money is protected even if the bank fails.
Most banks offer ATM cards or passbooks for convenient access to your savings, and many now provide online and mobile banking services.
MADB stands for Monthly Average Daily Balance. It's the average amount of money in your account each day during the month.
How it's calculated: Add up your daily balance for each day of the month, then divide by the number of days in that month.
Why it matters: If your MADB falls below the required minimum, you may:
Example: If the minimum MADB is ₱3,000, you need to maintain an average of ₱3,000 throughout the month, not just at month-end.
The initial deposit is the minimum amount required to open the account. The maintaining balance (MADB) is the average daily balance you need to maintain monthly to avoid fees and earn interest. The maintaining balance is often higher than the initial deposit.
Interest is typically calculated on your daily balance and credited monthly or quarterly, depending on the bank. The interest rate shown is per annum (yearly), and the actual interest you earn is calculated based on your balance above the interest-earning threshold.
Yes, you can have multiple savings accounts at the same bank or across different banks. Having multiple accounts can help you organize your savings for different goals and maximize your PDIC insurance coverage (₱500,000 per depositor, per bank).
If your MADB falls below the required minimum, you may be charged a below-maintaining balance fee (typically ₱100-₱300 per month) and may not earn interest for that month. Some banks may also convert your account to a passbook savings account with different terms.
Philippine banks generally allow unlimited withdrawals from savings accounts, though some may charge fees for exceeding a certain number of monthly transactions. ATM withdrawals may have per-transaction and daily limits set by the bank for security purposes.
Yes, interest earned from savings accounts is subject to a 20% final withholding tax, which is automatically deducted by the bank before crediting your interest. This tax is already final, and you don't need to report it separately on your income tax return.