There are still a lot of Filipinos who don't have a bank account. A common misconception is due to lack of money. But did you know that it is easier to save now? There are a lot of savings account here in the Philippines that doesn't need any initial deposit.
Here are some of the savings account that don't require deposits and with the lowest maintenance balance.
GSave is the first ever bank account that you can open and maintain straight from the GCash app.
Features:
- Easily manage your account on the GCash App
- Manage your account on the CIMB Bank PH app
- Deposit money via CIMB’s extensive Partner Network
- Zero annual fees with GSave account.
- Interest rate: 3% (introductory rate)
- Initial deposit: None
- Daily withdrawal limit: PHP 50,000
CIMB Bank PH (UpSave Account)
Enjoy 24/7 safe and secure banking and seamless account opening in just 10 minutes!
Features
- High interest rate
- FREE Life Insurance coverage of up to PHP 250,000
- Zero fees
- NO initial deposit and NO minimum balance required
ING is globally known as a pioneer in branchless banking. They promise customers to make banking clear and easy, available anytime and anywhere, and to keep getting better.
Features:
- 100% Digital. No lines. No papers. No fees. Open an account via our mobile app.
- No minimum amount to open. No maintaining balance.
- Get up to 10 times higher interest rates on your savings.
Cebuana Lhuillier Micro-Savings
Cebuana Lhuillier Micro Savings aims to provide easier banking access to Filipinos. It is a regular savings account but doesn’t require maintaining balance.
Features:
- Minimum Maintaining Balance: None
- Deposit Amount: minimum of Php 50
- Deposit Fee: FREE
- Withdrawal Fee: FREE until further notice
BDO Kabayan Savings
Overseas Filipino Workers and their beneficiaries may open a BDO Kabayan Savings Account at any BDO branch in the Philippines.
Features:
- Initial deposit: P100
- Zero maintaining balance with at least one (1) remittance within two (2) years
- Remitters may qualify for free life and accident insurance.
- With passbook and ATM debit card
- Earn BDO Rewards points too from your savings and remittances!
Opening a savings account for your children makes their future more certain - whatever comes their way. Nothing secures a child's future better and, at the same time, teaches them the value of saving.
Features:
- Children age 0-12 years old can open a BDO Junior Savers account
- As low as Php100.00 in initial deposit.
Opening a savings account shouldn't be a chore. Now with a lot of options that we have, you should be able to open a savings account just by using your phone. Which one here is your savings account? Share your thoughts below.
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