• Eastwest Bank Savings Account

    Opening a savings account is the first step towards becoming financially independent. You can open a savings account to start building wealth, for easy accessibility of funds, to use the funds in times of emergencies, to accumulate funds for investment, and to save for things you wish to purchase. EastWest Bank offers various types of savings account. You can earn a bonus interest in case you are not making any withdrawals. You can also open a savings account in 9 different currencies.

    Features and Benefits

    Following are the various features and benefits of EastWest Bank Savings Account:

    • Minimum balance required to open a savings account is low.
    • You earn a higher rate of interest.
    • You can also earn bonus interest with Super Saver account if you don’t make any withdrawals.
    • You can open a foreign currency savings account. You can open an account in 9 different currencies.
    • You get PDIC coverage of up to P500,000.
    • Children are allowed to open a savings account as well.
    • You can track your savings through the passbook.
    • Most accounts offer you debit card.

    Types of EastWest Bank Savings Account

    Following are the various types of Savings Account offered by EastWest Bank:

    1. Basic Savings Account

      This account is the most affordable interest earning account. You require a low balance to open the account and you also get a debit card.

      Minimum initial deposit

      P100

      Minimum account deposit balance

      P100

      Balance required to earn interest

      P500

      Documentation

      Electronic statement

      Fund access

      Philippine ATMs

      EastWest Online

      Over-the-counter

      Visa accepting online merchants

      Visa accredited merchants

    2. Kiddie Savings Account

      This account is for children between the ages of 0 and 18. This account comes with a passbook.

      Minimum initial deposit

      P2,000

      Minimum account deposit balance

      P2,000

      Balance required to earn interest

      P2,000

      Transaction record

      Passbook

      Fund access

      EastWest Online

      Over-the-counter

    3. Passbook Savings Account

      This is an interest bearing Peso savings account. You can deposit and withdraw money at any time by presenting your passbook.

      Minimum initial deposit

      P5,000

      Minimum account deposit balance

      P5,000

      Balance required to earn interest

      P10,000

      Transaction record

      Passbook

      Fund access

      EastWest Online

      Over-the-counter

    4. Passbook Savings with Debit Card

      This account comes with a passbook and a debit card. All your transactions will be documented in the passbook and you can enjoy the benefits of modern banking as well.

      Minimum initial deposit

      P10,000

      Minimum account deposit balance

      P10,000

      Balance required to earn interest

      P25,000

      Fund access

      Philippine ATMs

      EastWest Online

      Over-the-counter

      Visa accepting online merchants

      Visa accredited merchants

    5. Regular Savings with Debit Card

      This is a regular savings account that comes with a debit card. You can access the funds at any time with your debit card.

      Minimum initial deposit

      P2,000

      Minimum account deposit balance

      P2,000

      Balance required to earn interest

      P10,000

      Fund access

      Philippine ATMs

      EastWest Online

      Over-the-counter

      Visa accepting online merchants

      Visa accredited merchants

    6. Super Saver

      This account pays a higher rate of interest as the balance increases. You get a bonus interest if you don’t make any withdrawals.

      Minimum initial deposit

      P500,000

      Minimum account deposit balance

      P500,000

      Balance required to earn interest

      P500,000

      Bonus interest

      0.75% pa.

      Fund access

      Philippine ATMs

      EastWest Online

      Over-the-counter

      Visa accepting online merchants

      Visa accredited merchants

    7. Foreign Currency Savings Account

      You can open a savings account in US Dollar, Euro, Chinese Yuan, Singapore Dollar, Japanese Yen, Australian Dollar, British Pound, New Zealand Dollar, and Hong Kong Dollar.

      Currency

      Minimum initial deposit

      Minimum maintaining balance required to earn interest

      US Dollar

      USD100

      USD500

      Chinese Yuan

      CNY500

      CNY500

      Euro

      EUR250

      EUR250

      Japanese Yen

      JPY25,000

      JPY25,000

      Singapore Dollar

      SGD100

      SGD100

      British Pound

      GBP100

      GBP100

      Australian Dollar

      AUD250

      AUD250

      Hong Kong Dollar

      HKD250

      HKD250

      New Zealand Dollar

      NZD250

      NZD250

    EastWest Bank Savings Account Eligibility Requirements

    The EastWest Bank savings account can be opened by:

    • Resident.
    • Individual.
    • Children between the ages of 0-18 can open a Kiddie Savings account.

    Documents Required for EastWest Bank Savings Account

    You will have to submit the following documents:

    • The Government issued valid ID card.
    • 3 copies of pictures.
    • Proof of billing.
    • Initial deposit.

    EastWest Bank Savings Account Interest Rates

    Following are the interest rates offered for the various Savings Account:

    Basic Savings account

    0.125% p.a.

    Kiddie Savings account

    0.125% p.a.

    Passbook Savings account

    0.125% p.a.

    Passbook Savings with Debit card

    0.125% p.a.

    Regular Savings with Debit card

    0.125% p.a.

    Super Saver

    P500,000 – P999,999 – 0.125% p.a.

    P1,000,000 – P4,999,999 – 0.375% p.a.

    P5,000,000 – P9,999,999 – 0.50% p.a.

    P10 million and up – 0.75% p.a.

    Foreign currency Savings account

    US Dollar – 0.25% p.a.

    Chinese Yuan – 1% p.a.

    Euro – 0.10% p.a.

    Japanese Yen – 0.005% p.a.

    Singapore Dollar – 0.10% p.a.

    British Pound – 0.25% p.a.

    Australian Dollar – 1% p.a.

    Hong Kong Dollar – 0.15% p.a.

    New Zealand Dollar – 0.50% p.a.

    The withholding tax is 20%.

    Fees and Charges

    Following are the applicable fees and charges:

    Early account closure

    P500

    Below maintaining balance

    P500

    OTC withdrawal

    P50

    OTC Withdrawal and Fund Transfer

    P100

    How to apply for EastWest Bank Savings Account

    You can apply for an EastWest Bank Savings Account through the following ways:

    • Phone: You can call 575-3888 and 870-3500 to know more about the account and find out the process to apply and initiate it.
    • Face-to-face: You can find the closest EastWest Bank branch online. You can visit the branch and meet with the bank representative and learn more about the account before applying for it.

    EastWest Bank Savings Account Hotline Number

    You can reach EastWest Bank at 575-3888 and 870-3500. You can also send an email to service@EastWestbanker.com.

    EastWest Bank Savings Account FAQs

    1. Will my funds in the savings account be safe?

      Yes, your funds will be covered for up to P500,000 by PDIC.

    2. How can I access my funds?

      You can access your funds through Philippine ATMs, EastWest Online, over-the-counter, Visa accepting online merchants, and Visa accredited merchants.

    3. What is the bonus interest I can earn with my Super Saver account?

      You can earn a bonus interest of 0.75% p.a. if you don’t make any withdrawals.

    4. What are the currencies with which I can open a Foreign Currency Savings account?

      You can open a savings account in US Dollar, Euro, Singapore Dollar, Chinese Yuan, Japanese Yen, New Zealand Dollar, Australian Dollar, British Pound, and Hong Kong Dollar.

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