RCBC Savings Account

You can enjoy greater convenience in managing your funds at RCBC. You get a wide range of deposit facilities to choose from. The interest rates are competitive and there are value-added features. You get a greater accessibility to your funds. The savings account helps you become financially independent. You can use the funds at times of emergencies, to accumulate funds for investments, and to save for things you want to purchase.  

Features and Benefits

The following are the various features and benefits of RCBC Savings Account:

• A higher interest rate is offered on the funds deposited.
• Free accident insurance is offered under WISE Savings Account.
• The deposits are insured up to P500,000 by the PDIC.
• The minimum balance requirement to open an account is low.
• The savings account can be opened for children and retirees.
• The withdrawals and deposits can be made over-the-counter at the RSB branch, ATMs, and RCBC Savings Bank AccessOne.
• There is no withdrawal limit per month.
• You can make withdrawals at any time.
• You can open a foreign currency account.
• You earn a tiered interest rate on certain types of Savings Account.
• You can open personal and corporate accounts.

Types of RCBC Savings Account

The following are the various types of Savings Account offered by RCBC:

1. Basic Savings Account

   This is an interest-earning product where you can deposit and withdraw money at any time with the ATM and passbook. You can also access the account through RCBC online banking. The account can be opened with Dollar, Euro, and Yen.

   Initial deposit	ATM – P500 Passbook – P5,000 Dollar – USD100 Euro – EUR500 Yen – Yen50,000
   Maintaining balance	ATM – P500 Passbook – P5,000 Dollar – USD100 Euro – EUR500 Yen – Yen50,000
   Average daily balance required to earn interest	P25,000 Dollar – USD200 Euro – EUR1,000 Yen – Yen50,000

2. Dragon Dollar Savings Account

   This is a US Dollar savings account which offers you a higher interest rate. The interest rates are tiered. The passbook can be used to monitor the transaction history. This account is meant for young executives, professionals, entrepreneurs, individuals, and high net worth individuals. The small, medium and large enterprises are the target industries. You can access the funds through ATM and RCBC online banking.

   Initial deposit	Personal – USD1,000 Corporate – USD2,500
   Maintaining balance	Personal – USD1,000 Corporate – USD2,500
   Average daily balance required to earn interest	Personal – USD1,000 Corporate – USD2,500

3. E-Passbook Savings Account

   This account lets you keep a track of your financial records which includes bill payment. The details include account and subscriber number. The account documentation is longer. The account can be accessed through RCBC online banking. This account is meant for small, medium and large enterprises. This account does not come with an ATM card.

   Initial deposit	P25,000
   Maintaining balance	P25,000
   Average daily balance required to earn interest	P50,000

4. Special Retirement Account

   This account offers a higher interest rate. The interest is credited at the end of every month. This account is for qualified retired former Filipino citizens and foreign nationals. The account is accredited under the Philippine Retirement Authority. The account can be opened in Pesos and Dollars.

   Initial deposit	Dollar – USD1,500 Pesos – P75,000
   Maintaining balance	Dollar – USD1,500 Pesos – P75,000
   Holding period	30 days

   Withholding tax for the Dollar account is 7.5%.

5. WISE Savings Account

   This account is designed for children to save and plan for their future. The minimum deposit required is low. The account holder and the parent will be entitled to free insurance coverage. The account can be accessed through AccessOne, phone banking, and mobile banking. You also get a discount at partner merchants such as Tom’s World, Fun House, Malayan Insurance, AustinLand, Zoocobia, ZooColate Thrills, Little Lamb’s Kiddie Spa, Paradizoo, Residence Inn, Zoobic, etc.

   Initial deposit	P100
   Maintaining balance	P1,000
   Average daily balance required to earn interest	P5,000
   Minimum initial deposit required to get free personal accident insurance	P1,000

   The personal accident insurance covers accidental death, disablement, or dismemberment for up to P20,000.

6. Dragon Peso Savings Account

   This account offers a tiered interest rate. It comes with passbook or an ATM card.

   Initial deposit	Personal – P25,000 Corporate – P50,000
   Maintaining balance	Personal – P25,000 Corporate – P50,000
   Average daily balance required to earn interest	Personal – P25,000 Corporate – P50,000

   The interest rate is as follows:

   Average daily balance	Personal	Corporate
   P25,000 – P100,000	0.375% p.a.	-
   P50,000 – P100,000	-	0.375% p.a.
   P100,000 – P500,000	0.5% p.a.	0.5% p.a.
   P500,000 – P1,000,000	0.625% p.a.	0.625% p.a.
   P1,00,000 – P5,000,000	0.75% p.a.	0.75% p.a.
   P5,000,000 – P10,000,000	1% p.a.	1% p.a.
   P10,000,000 and above	1.25% p.a.	1.25% p.a.

7. E-Passbook Premium Plus Savings Account

   This account offers tiered interest rates. You can maximize the savings with longer term savings plan. The passbook can be used to monitor the transaction history. The interest is credited annually. The interest will be based on the number of days lapsed and it will be affected by any financial activity such as withdrawals or deposits. You can open a personal or corporate account.

   Initial deposit	P100,000
   Maintaining balance	P100,000
   Average daily balance required to earn interest	P100,000

   The interest rates are as follows:

   Number of days	P100,000 – P499,999	P500,000 – P5,000,000	Above P5,000,000
   0 – 29 days	0.25% p.a.	0.25% p.a.	0.25% p.a.
   30 – 59 days	0.375% p.a.	0.50% p.a.	0.625% p.a.
   60 – 179 days	0.50% p.a.	0.625% p.a.	0.75% p.a.
   180 – 364 days	0.625% p.a.	0.75% p.a.	0.875% p.a.
   365 days	0.75% p.a.	0.875% p.a.	1% p.a.

8. SSS Pensioner

   This account is for Filipino retirees who have SSS Pensions. The account holder can make deposits and withdraw the funds through passbook, ATMs, Bancnet, RCBC Savings Bank, Megalink ATMs, and ExpressNet.

   Initial deposit	P100
   Maintaining balance	P100
   Average daily balance required to earn interest	Passbook – P25,000 ATMs – P25,000

RCBC Savings Account Eligibility Requirements

The RCBC savings account can be opened by:

• Residents.
• Individuals.
• Pensioners.
• Foreigners.
• Children between the ages of 0-21 can open a WISE Savings account.

Documents Required for RCBC Savings Account

You will have to submit the following documents:

• Filipino individuals:
  • School ID.
  • Passport.
  • Driver’s License.
  • NBI clearance.
  • Professional Regulations Commission ID.
  • Voter’s ID.
  • Police clearance.
  • Social Security System ID.
  • GSIS e-Card.
  • Senior citizen’s card.
  • Phil’s Unified Multi-Purpose ID.
  • Overseas Workers Welfare Administration.
  • PhilHealth Health Insurance Card.
  • Seaman’s Book.
  • OFW ID.
  • National Council on Disability Affairs issued ID.
  • IDs issued by a government office, government-owned or controlled corporations, or government political subdivisions.
  • Integrated Bar of Phils. ID.
  • Department of Social Welfare and Development certification.
• Foreigners:
  • Alien Certificate of Registration.
  • Passport issued by the originating country.
  • Retirement ID issued by the Philippine Retirement Authority.
  • Immigrant Certificate of Registration.
  • Special Resident Retiree’s Visa.
  • DOLE ID.
• Corporate accounts:
  • Articles and By-Laws.
  • SEC Registration.
  • Company Profile.
  • Latest General Information sheet.
  • A brief resume of principal owners.
  • The latest list of stockholders and officers with corresponding shareholdings.
  • Business permits, memberships, licenses, certificates, and accreditations.

RCBC Savings Account Interest Rates

The following are the interest rates offered for the various Savings Account:

The withholding tax is 20%.

Fees and Charges

The following are the applicable fees and charges:

How to apply for RCBC Savings Account?

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

• Phone: You can call +632-555-8700, +632-555-8772, or 1-800-10-000-8772 to know more about the account and find out the process to apply and initiate it.
• Face-to-face: You can find the closest RCBC branch and visit the branch where you can meet with the bank representative and learn more about the account before applying for it.

RCBC Savings Account Hotline Number

You can reach RCBC at +632-555-8700, +632-555-8772, or 1-800-10-000-8772. You can also send an email to rsbcustomercare@rcbcsavings.com.

RCBC Savings Account FAQs

1. Can a retired individual open a savings account?

   Yes, a retired individual can open a savings account with RCBC.

2. Do I get any insurance attached to my savings account?

   Yes, you get a free accident insurance under WISE Savings Account.

3. How can I make the deposits and withdrawals?

   You can make the withdrawals and deposits can be made over-the-counter at the RSB branch, ATMs, and RCBC Savings Bank AccessOne.

4. Is there any withdrawal limit on the savings account?

   No, there is no withdrawal limit per month.

5. Can I open a foreign currency account?

   Yes, you can open a foreign currency account in Dollar, Euro, and Japanese Yen.