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BDO savings accounts for September 2022 in the Philippines

Open a savings account at BDO. On 25.09.2022 there are 5 options available to you.

Offers: 5

Updated:
26.08.2022
07:48
BDO
Passbook Savings
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱5,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0625% gross interest rate per year
BDO
Junior Savers
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱100 minimum initial deposit
BDO
US Dollar Savings
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$200 minimum initial deposit
Rate
i

Effective interest rate on the product

contact the bank for the latest interest rates
BDO
ATM Savings
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱2,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0625% gross interest rate per year
BDO
Optimum Savings
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

₱30,000 minimum initial deposit
Rate
i

Effective interest rate on the product

contact the bank for the latest interest rates

Interest rates on loans in the Philippines

According to the guidelines for Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms, the maximum nominal interest rate for unsecured loans is 6% per month (0,2% per day), and the maximum effective interest rate is 15% per month (0,5% per day). The caps apply to unsecured loans of no more than ₱10000 and payable within four months.

Other types of savings accounts

How to open a savings account

Fill out your application
Fill out your application
On our website you can fill out a short application form for a savings account.
Send your application online to the suggested banks
Send your application online to the suggested banks
After the parameters being checked, you will be able to send your application to the appropriate companies.
Wait for a response from the bank
Wait for a response from the bank
If necessary, a bank specialist will contact you to clarify the details.
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Sign the contract and open your account online or at the bank's branch.
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BDO savings accounts for September 2022

One of the most common and simple ways to deposit and withdraw money in the Philippines is through a BDO savings account.

Types of BDO savings accounts

Passbook saves, ATM savings, optimal savings, and junior savers are the four personal savings accounts offered by BDO. A fifth remittance (US dollar savings account) is also available. As long as you qualify and meet the requirements, BDO's savings account is for everyone, and no one is excluded.

BDO Passbook Savings

The BDO Peso passbook savings account combines the protection of a passbook with the advantages of a regular interest-earning account. When you start an account, you can decide whether you want a BDO debit card for ease of access at ATMs or just a passbook.

BDO ATM Savings

The BDO ATM savings account provides the ease and convenience you require daily. You can enjoy the comfort of utilizing ATMs to withdraw money and pay bills, cashless dining and shopping, and secure fund transfers with BDO online banking.

BDO Optimum Savings

The secret to quickly reaching financial freedom is to start saving more immediately. Your interest rate increases as you put more money into BDO's optimum savings account. Three free withdrawals or debits from your account are permitted each month.

BDO Junior Savers

Nothing is more satisfying for a parent than ensuring their child has a promising future. Kids have an endless list of objectives, and every parent may assist them in achieving them. Start by routinely depositing money into a savings account created just for your child using the junior savers' plan.

US Dollars Savings

It's crucial to manage your finances when working or traveling overseas. A US dollar savings account is a practical method to save and enjoy your hard-earned US dollars. BDO online banking gives you safe, convenient access to your money from anywhere worldwide as your account with them expands. Receive inexpensive remittance rates, stable interest rates, cashless travel, and various international banking alternatives.

How to apply for a BDO savings account?

In-branch

  1. Visit the BDO website, navigate to Personal, click on Accounts, and then select Forms to download the application form.

  2. Fill out and print the form.

  3. Prepare the minimum deposit according to the type of savings account you intend to open and a valid ID.

  4. Go to a nearby BDO branch with these documents to complete the application.

Online

You can participate in a zoom video call from the convenience and safety of your home, replacing the need to visit a bank. You can pick up your BDO debit card, passbook, or checkbook at any BDO branch, which you can choose as your home branch, and conduct any future transactions there.

  1. Visit the BDO website, navigate to Personal, click on Accounts, and then select Forms to download the application form.

  2. Choose the account type, fill out and print the form.

  3. Upload the following:

    1. Valid ID with your photo and signature.

    2. A selfie of you holding your ID.

    3. Picture of your three signatures.

  4. Meet a BDO representative via zoom for account opening evaluation.

  5. Fund your account within seven days from the day it was approved; funding could be done through:

    1. Cardless deposits through any BDO cash deposit machine.

    2. Deposit at any BDO branch. Applicants that stay abroad can remit via any BDO remit office or partners.

    3. Sending money online.

Attention! After review from the BDO representative, you could be asked to submit more papers.

BDO savings account requirements

The requirements for a BDO savings account are as follows:

  1. Identification document. If you are a foreign national, you must have a passport. Any of the following IDs are recognized for Filipinos:

  • Tax Identification Number (TIN) ID

  • Postal ID

  • Government Service Insurance System (GSIS)

  • Social Security number (SSS)

  • Driver's license

  • Senior citizen ID card

  • e-Card

  • Voter ID

  • School ID (specifically for minors)

  • IDs from the Philippines Identification System (Philsys) and the Integrated Bar of the Philippines (IBP)

2. Residence address

3. Passport-size photo

4. Initial deposit

5. The account opening form should be completed.

Reference! All IDs must be legitimate and original.

Pros and cons

The advantages and disadvantages of BDO's savings account services are listed below.

Pros

  • Unlike long-term investment accounts, BDO savings accounts are simple to open and allow unlimited withdrawals and deposits (within federal limits) via ATMs or 24-hour online access.

  • To help you avoid late fees or missing payments, BDO permits bills to be paid automatically out of a savings account.

Cons

  • Compared to other types of accounts or investments, interest rates on BDO savings accounts are lower.

  • BDO may compound the interest on your savings account monthly or yearly lowering its overall returns.

FAQ

Can I start a savings account online if I'm new to BDO?

Yes, you can do so using the BDO website.

Who can I contact when I have inquiries regarding creating a BDO savings account?

Send them a note with your questions or concerns, or phone the BDO contact center at (+632) 8631-8000, which is open around the clock. You can also contact them through email via callcenter@bdo.com.ph.