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8 Low initial deposit and maintaining balance savings account

Last updated on February 11, 2018 | by Billy

Low initial deposit and maintaining balance are one of the things people check before opening a savings account in a bank. Some Pinoys are eager to open a savings account and start saving their money but due to high initial deposit and maintaining balance of some banks, they failed. Or choose to failed. πŸ™‚

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Just in case you want to open a savings account and looking for banks that offer low initial deposit and maintaining balance, I did a little bit of research for you.

Savings account with low initial deposit and maintaining balance

8 Low initial deposit and maintaining balance savings account

1. BPI Easy Saver

BPI Easy Saver is a “worry-free” savings account offered by BPI. Know why? It has no maintaining balance! Yes you heard it right. Plus you can open an account with just P200. See additional features below.

Features

  • NO maintaining balance
  • P200 initial deposit
  • Comes with ATM/Debit card
  • Can be enrolled to BPI online banking

Fees

  • P50 for ATM/Debit card upon opening
  • P5 widthrawal fee
  • P100 for over the counter widthraw

Click here for tutorial on how to open a BPI Easy Saver savings account.

2. Eastwest Bank Basic Savings Account

EastWest Basic Savings account is the lightest savings account offering from EastWest. For an initial deposit of only P100, you can have your own EastWest Basic Savings Account. Grow it and earn interest upon reaching P500 on your deposits. See full features below (source: Eastwest bank).

eastwest basic savings account

I wrote an article how you can open a basic savings account in Eastwest bank here.

3. Equicom ATM Savings account

This is another savings account with low initial deposit and maintaining balance provided by Equicom bank. See features below.

Features

  • Php100.00 initial deposit
  • Php100.00 minimum required maintaining balance
  • Php5,000 minimum balance to earn interest 0.50% interest rate p.a.
  • Issuance of an Equicom Key Card that doubles as an ATM/debit card
  • Maximum of Php25,000.00 withdrawal per transaction and Php 50,000 withdrawal per day

4. Landbank ATM Savings account

Another savings account with low initial deposit and maintaining balance is the ATM savings account from Landbank of the Philippines. See features below.



Features

  • Initial deposit: P500
  • Required ADB (Average Daily Balance): P500
  • Balance to earn interest: P500
  • Interest rate: .250% p.a
  • ATM/Debit card

See how to open a landbank savings account here.

5. Maybank Value savings account

Maybank Philippines also offers savings account with low initial deposit and maintaining balance through their value savings account. See features below.

Features

  • Initial Deposit: P500
  • Maintaining balance: P500
  • Balance to earn interest: P10,000
  • Interest rate: .25% p.a
  • ATM card

6. BPI Direct Express Teller Savings account

This is another low initial deposit and maintaining balance savings account provided by BPI Direct. You can link you other BPI account here via BPI online banking.

Features

  • Initial deposit: P500
  • Maintaining balance: P500
  • Balance to earn interest: P500
  • Interest rate: .500% p.a

7. China Bank Easi-Save ATM

A savings account provided by Chinabank that requires only P500 of initial and maintaining balance. See features below.

Features

  • Initial deposit: P500
  • Maintaining balance: P500
  • Interest rate: .75% p.a.
  • Documentation: Easi-Save ATM Card, Monthly Statement of Account

8. Security Bank Peso Savings Cash Link ATM Card

Last but not the least in our savings account with low initial deposit and maintaining balance is the Peso savings cash link ATM card from Security bank. If Security bank is your choise, see the feaures below.

Features

  • Maintaining Balance: P500 pesos
  • Deposit and withdraw through ATM
  • Balance to earn interest: P2,000 pesos
  • Interest Rate: 0.250% p.a.
  • Online Banking through Security Bank online

*Update: As Anon shared on the comment, this savings account is not available now in Security bank.

You may also like.

  • BDO Savings account
  • BPI Savings account
  • BPI Easy saver
  • Eastwest bank savings account
  • Landbank savings account
  • PNB savings account
  • Chinabank Savings account
  • RCBC savings account
  • Comparison of Savings account in the Philippines
  • Comparison of Time deposit account in the Philippines

There you have it! The list of banks and their savings account above offer low initial deposit and maintaining balance. There may be other banks not listed above, if you know them please share on the comment section below.

I hope this post has been informative for you and I would like to thank you for visiting this blog. Start saving and budgeting your financesΒ to achieve your financial goals! Cheers!

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Comments

  1. Francis Antonio Castro says

    August 10, 2015 at 3:44 PM

    Good day Sir! I would like to ask what are the Philippine banks that offers the best US dollar savings account and time deposit rate? Thank you very much!

    Reply
    • Billy says

      August 11, 2015 at 10:59 AM

      hello sir francis, unfornately i don’t have that info for now. I’ll get back to you once I have. Thank you!

      Reply
  2. Dang Futalan says

    September 27, 2015 at 2:01 AM

    Thank you so much for this. I’ve been trying to look for cards with low costs. Which card can be used to verify AND withdraw funds in paypal?

    Reply
    • Billy says

      September 27, 2015 at 10:07 AM

      BPI easy can do but there is a charge of P150(not sure it it still P150 today). πŸ™‚

      Reply
    • Zick Bercasio says

      October 9, 2015 at 4:24 AM

      I use Unionbank’s EON to verify my PayPal account.

      http://www.unionbankph.com/personal/debitcards/cards/84-personal/eon/eon-and-paypal

      Reply
    • Daisy says

      September 9, 2016 at 9:54 AM

      All u need is an international chip atm from any bank . I can suggest BDO works fine and PayPal withdrawals takes 2 days .. if u want u can do it as PayPal to Gcash ..texts me up I can help u with info

      Reply
  3. Anon says

    October 15, 2015 at 9:36 PM

    Hi! I’d just like to say that security bank no longer offers the cashlink account. As in wala na po. The lowest account you can open is the jr. One savings account which is for kids. Other than that, 5k na ang pangopen and maintaining balance ng pinakamurang account.

    Reply
    • Billy says

      October 16, 2015 at 8:16 AM

      Thanks Anon! We’ll update the article. Godbless!

      Reply
  4. Mark tang says

    January 23, 2016 at 1:27 AM

    Hi, is the an cash link was 500 maintains balance? Because right now I have a problem. The bank increased their maintains balance. Then they charge me monthly.

    Reply
    • Lynn says

      February 11, 2016 at 12:25 AM

      Is that the one from security bank? If yes, please read the update. It’s no longer existing .. So if your having issues with your maintaining balance, it would be best for you to transfer to another bank .. I suggest bpi easy saver. Because they don’t have any maintaining balance πŸ˜‰

      Reply
  5. Irving says

    April 1, 2016 at 5:04 PM

    China Bank Savings also has an Easi-Save passbook account as well, if you want to exercise some self control on spending.

    Reply
  6. Riecely Esguerra says

    May 13, 2016 at 12:08 PM

    How about those banks for saving account with atm and passbook that are also low initial deposit and maintaining balance? ?

    Reply
    • Erna Lou Llagas says

      June 10, 2016 at 1:48 PM

      I need this also.

      Reply
  7. elvin says

    October 25, 2016 at 7:25 PM

    hello please help its that checking bank..help to withdraw from paypal account ?

    Reply
  8. lud says

    March 16, 2017 at 1:34 AM

    Good day. May I know which of these 8 low maintaining balance account can be used as a receiving and sending of any money any in the world?

    Reply
  9. Dale Flurad says

    May 8, 2017 at 6:45 PM

    Hello I would like to ask? if there any bank that has no maintaining balance but have a VISA and MASTERCARD Lisences

    Reply
  10. Justine says

    June 29, 2017 at 7:41 PM

    How do i open a BPI Direct Express Teller Savings account? Thank you. πŸ™‚

    Reply
    • Billy says

      July 4, 2017 at 7:16 AM

      Read this article about BPI savings account, Justine. Thanks!

      Reply
  11. Jn says

    November 15, 2017 at 11:27 AM

    I have inquired to eastwest about saving accounts, unfortunately to open a savings account sa eastwest requires initial depo of 2k na dito sa eastwest Malabon acacia branch…

    Reply
  12. Anon says

    April 25, 2018 at 6:50 PM

    maybank hasn’t offered the value savings account for years already. you can check with them as well.

    Reply
  13. Nowyouknow says

    April 13, 2019 at 5:46 AM

    Yung bpi easy savers na yan, for students nalang pde mag.open niyan… Yung sa eastwest basic savings account wala na din… I.update mo to πŸ™ sayang lang oras pagpunta namin sa banko napagod lang kami…

    Reply

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