Do not rely merely on the bank’s brand. Most of the time, those that are not so popular can give more advantage. Opening a bank savings account? You may now compare banks in the Philippines and see which one has a low maintaining balance.
The following are the maintaining balance requirements per bank.
BDO
| Bank | Maintaining Balance (Php) | Required Balance to Earn (Php) |
|---|---|---|
| Passbook | 10,000 | 10,000 |
| ATM | 2,000 | 5,000 |
| Optimum Savings | 30,000 | 30,000 |
| Kabayan (OFW) | 0 | 5,000 |
Source: https://www.bdo.com.ph
RCBC
| Bank | Maintaining Balance (Php) | Required Balance to Earn (Php) |
|---|---|---|
| RCBC One Account | 0 | 25,000 |
| RCBC iSave | 0 | 5,000 |
| RCBC Basic Savings | 0 | 0 |
| Go Savers (kids) | 0 | 5,000 |
Source: https://www.rcbc.com
- Asia United Bank
- BPI – Php 3,000 ATM account
- Bank of Commerce – Php 500
- Eastwest Bank – Php 2,000
- Chinabank – Php 2,000 for an ATM.
- Metrobank – Php 3,000
- PNB – Php 3,000
- UCPB – Php 2,000
Digital Banks Minimum Balance
I haven’t found a digital bank that has a maintaining balance. In their advertisements, the main catch is that they do not set a minimum on the deposit that clients make. This is good news to those who can’t reach the minimum among traditional banks.
Will I Earn Interest?
Yes, banks offer low maintaining balances but your account will not earn interest. This means your daily average should at least be Php 5,000 while some even go as high as Php 10,000.
No Maintaining Balance
Have you heard about banks that do not require a minimum amount to stay with them? Yes they exist. But I noticed that in order to avail it, you must sacrifice something.
For example, a bank offers no minimum amount but you can only withdraw twice a month. Otherwise, you will be charged a fee.
So think about the catch first, usually there is.
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