• BDO Savings Account

    A savings account is an interest-bearing account that you can hold with a bank and earn interest on the amount deposited. The number of withdrawals may be limited and a fee may be charged if you do not maintain the average monthly balance. It is financially advantageous to keep your funds in the savings account as it is the most liquid investment. You can easily access the funds in your account and make withdrawals when you need. BDO offers various Savings Account that meet your needs and requirements. You also earn substantial interest on the amount deposited.

    Types of BDO Peso Savings Account

    Following are the various types of Savings Account offered by BDO:

    1. Passbook Savings

      This account lets you enjoy the security of a passbook and you earn a fixed rate of interest on the amount deposited.

      Minimum initial deposit P5,000
      Minimum balance required to earn interest P10,000
      Minimum monthly average daily balance requirement P10,000

      If you choose to close the account within 30 days from opening the account, the account closure fee will be charged. You will be charged a falling below minimum balance fee if you don’t maintain the minimum balance required for 2 consecutive months. Account dormancy fee is charged if the account has not had any activity for 2 years.

    2. ATM Savings

      With this account, you can enjoy the convenience of withdrawing the amount that you have deposited through the wide network of ATMs. You can use the card to shop, dine, purchase groceries, or gas up.

      Minimum initial deposit P2,000
      Minimum balance required to earn interest P5,000
      Minimum monthly average daily balance requirement P2,000

      Account closure fee is charged if you close the account within 30 days from opening the account. If you don’t maintain the minimum balance required for 2 consecutive months, you will be charged a falling below minimum balance fee. If your account has had no activity for 2 years, you will be charged an account dormancy fee.

    3. Optimum Savings

      With this account, you will get a higher interest rate. You can debit the amount from your account or withdraw from ATMs for free up to 3 times in a month. This account can be used for personal or business purpose.

      Particulars Business Personal
      Minimum initial deposit P50,000 P30,000
      Minimum balance required to earn interest P50,000 P30,000
      Minimum monthly average daily balance requirement P50,000 P30,000

      If the account is closed within 30 days from opening the account, you will be charged an account closure fee. You will be charged a falling below minimum balance fee when you don’t maintain the minimum balance for 2 consecutive months. An account dormancy fee is charged if there is no activity for 2 years.

    4. Junior Savers

      This account is ideal if you want to teach your child to save. Children between the ages of 0 - 12 can open a passbook account. Your child will have a free Junior Savers ID card. Children between the ages of 7 - 12 can also opt for Junior Saver ATM debit card or Junior Savers ID Card. The cards can be personalized at the time of processing the application request. You can transfer funds periodically from your existing BDO Savings Account to the Junior Savers account through BDO Online Banking.

      Minimum initial deposit P100
      Minimum balance required to earn interest P2,000
      Minimum monthly average daily balance requirement P100

      You will be charged a falling below minimum balance fee if you don’t maintain the minimum balance required for 2 consecutive months. If you choose to close the account within 30 days from opening the account, the account closure fee will be charged. Account dormancy fee is charged if the account has not had any activity for 2 years.

    5. Prime Savers

      This account lets you enjoy the priority in servicing your transactions and you get special forex rates. This account is for individuals who are 60 years and above.

      Minimum initial deposit P2,000
      Minimum balance required to earn interest P5,000
      Minimum monthly average daily balance requirement P2,000

      If the account is closed within 30 days from opening the account, you will be charged an account closure fee. An account dormancy fee is charged if there is no activity for 2 years. You will be charged a falling below minimum balance fee when you don’t maintain the minimum balance for 2 consecutive months.

    6. Direct Deposit

      This account lets you get your US pension in the easiest and fasted way.

      Minimum initial deposit P0
      Minimum balance required to earn interest P5,000
      Minimum monthly average daily balance requirement P0

      If your account has had no activity for 2 years, you will be charged an account dormancy fee. If you don’t maintain the minimum balance required for 2 consecutive months, you will be charged a falling below minimum balance fee. Account closure fee is charged if you close the account within 30 days from opening the account.

    BDO Peso Savings Account Eligibility Requirements

    Children between the ages of 0 - 12 can open a passbook Junior Savers account.

    Documents Required for BDO Peso Savings Account

    You have to submit the following documents along with the application form:

    • Passport.
    • Unified ID.
    • Valid IDs issued by the government.
    • Police clearance.
    • Voter’s ID.
    • NBI Clearance.

    For opening a Junior Savers account, you will have to submit the following documents:

    • If the account is under the name of your child between the ages of 7 - 12, you will have to submit the following:
      • School ID that has been signed by the Principal.
      • Passport.
      • Birth Certificate that has been issued by NSO or the Local Civil Registry.
    • If the account is under the name of the parent or guardian, the following documents have to be submitted:
      • Child’s ID.
      • 2 ID of the parent.
      • Adoption papers, if the child was adopted.
      • Guardianship documents, if the account is opened by a legal guardian.

    The account for kids below 7 years has to be a parental account. Kids above 7 years can opt for a parental account if needed.

    BDO Peso Savings Account Interest Rates

    The interest rate offered for the various accounts are as follows:

    Types of accounts Gross interest rate per annum
    Passbook Savings 0.25%
    ATM Savings 0.25%
    Optimum Savings You can call BDO Customer center or visit the nearest BDO branch.
    Junior Savers 0.25%
    Prime Savers 0.25%
    Direct Deposit 0.25%

    Fees and Charges

    You will incur the following fees and charges:

    Account closure P300
    Account dormancy P30
    Falling below minimum balance P300
    Withholding tax for interest earned 20%
    More than 3 debit transactions or client-initiated withdrawals per month on your Optimum Savings account P110

    How to apply for a BDO Peso Savings Account

    You can apply for BDO Peso Savings Account by visiting the nearest BDO branch. You can call the customer contact center to know more about the application process.

    BDO Peso Savings Account Hotline Number

    If you have any queries regarding the BDO Peso Savings Account, you can call the BDO Customer contact center at +631-8000.

    BDO Peso Savings Account FAQs

    1. What is the minimum initial deposit required to open a Direct Deposit account?

      There is no minimum initial deposit requirement to open a Direct Deposit account.

    2. What are the fees that will be charged?

      You will be charged a dormancy fee if there is no activity in your account for 2 years. You will be charged a falling below minimum balance fee if you don’t maintain the minimum balance for 2 consecutive months. An account closure fee will be charged if you close the account within 30 days from opening the account.

    3. Can a savings account be opened for business purposes?

      Yes, you can open an Optimum Savings account for business purposes.

    4. Can a minor open a savings account?

      Yes, there is a Junior Savers account specially meant for minors. Children between the ages of 0 - 12 can open a Junior Savers account.

    5. Should the Junior Savers account be a parental account?

      If the child is between 7 - 12 years, the account can be in his or her name. Children below 7 years will need a parental account.

    6. Do they offer a debit card with Junior Savers account?

      Yes, an ATM debit card is offered to children who are between 7 - 12 years.

    7. What is the gross interest rate offered per annum for the BDO Peso Savings Account?

      The gross interest rate offered per annum for the BDO Peso Savings Account is 0.25%. You will have to call the customer contact center to find out the interest rate for the Optimum Savings account. 

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