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BPI savings accounts for October 2022 in the Philippines

Open a savings account at BPI. On 02.10.2022 there are 9 options available to you.

Offers: 9

Updated:
26.08.2022
07:43
BPI
Jumpstart
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.

₱100 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0625% per year
BPI
Padala Moneyger
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.

₱0 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0625% per year
BPI
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.

$500 minimum initial deposit
Rate
i

Effective interest rate on the product

0.050% per year
BPI
Saver Plus
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.

₱50,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0925% per year
BPI
#MySaveUp
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.

₱1 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0925% per year
BPI
#SaveUp
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.

₱1 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0925% per year
BPI
Maxi Saver
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.

₱2,000,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.125% per year
BPI
Pamana 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.

₱25,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0625% per year
BPI
Regular 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.

₱3,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.0625% per year

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.
Open your account!
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Sign the contract and open your account online or at the bank's branch.
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BPI savings accounts for October 2022

A BPI savings account is one of the most popular ways you can use to deposit and withdraw money with ease in the Philippines. Some of its common characteristics include no cap on withdrawals, no check-writing or debit card capabilities, few transfer alternatives, and no overdraft protection.

Types of BPI savings accounts

BPI provides a variety of savings accounts to suit your specific requirements, allowing you to manage, grow, and save your money with the most significant amount of simplicity.

Regular savings account

A regular account offers the convenience of Internet banking, allowing you to easily manage your daily finances at any time of the day.

  • On-funds interest

  • Online and in-store cashless transactions accepted anywhere BancNet or Mastercard is accepted

  • Easy money transfers by registering recipient accounts

Deposit with insurance

This account offers life insurance worth three times your account balance and earning interest. Thus, the family also benefits from your savings.

  • On-funds interest

  • Free life insurance coverage worth up to ₱2m or $40,000, or three times your account balance

  • There are no premium payments or medical exams necessary

High returns

Saving becomes incredibly profitable when you have a savings account that increases your earnings as you save more — additionally offered as a US dollar account.

  • Greater interest rates than a typical savings account

  • 1.25% annual bonus interest is paid if no withdrawals are made throughout the month

  • Flexible and quick financial access

Other BPI savings accounts are:

#SaveUp

A savings account that is entirely digital and gives you additional earning potential.

Jumpstart

A savings account which was created especially for teenagers (10 – 17 years old) to encourage them to start saving money at a young age.

Saver Plus

A savings account that pays higher interest than a typical savings account and also increases your financial security.

US Dollar Savings

You can enjoy simplicity when monitoring your account while letting your money grow with the bank.

Pamana Padala

It was created to keep all the hard-earned money of FIlipinos working abroad safe and secure. The account makes it easier to send money home by making handling and remittance more straightforward.

Padala Moneyger

Cost-effective savings account created especially for people who receive international remittances. Additionally, managing the shipment is simple because it goes directly to the account.

How to apply for a BPI savings account?

To apply for a BPI savings account;

  1. Visit the bank website, select the Accounts heading, and then the type of savings account you want to open to open a BPI savings account.

  2. Download the application, complete it, and submit it.

  3. A reference code will eventually be provided to your cell phone and email.

  4. Use the code to finish your application.

  5. Visit the local bank location to deposit money into your account and activate it.

Requirements

  • Two valid IDs, such as a school ID, company ID, UMID, etc.

  • Two photos which should not have been taken more than six months ago

  • An electric bill is one type of proof of billing

  • Telco invoice water invoice

  • Identification number for taxes

Reference! For a complete list of all requirements and supporting documentation for each type of savings account, visit the bank's website.

Pros and cons

The following is a list of benefits and drawbacks of using BPI's savings account services.

Pros

  • You won't have to worry about liquidating investments or undertaking other onerous actions to retrieve your money because cash deposits to bank savings accounts are accepted.

  • You can open an account without any large initial deposit.

Cons

  • BPI's savings account interest is compounded annually, which is slower when compared to alternative investment alternatives. So, your money may not grow to its full potential.

  • Nominal interest rate.

FAQ

How do I open a BPI savings account?

You can do that following the below steps:

  1. Open the app, select Create a new account, and then select Open a new account.

  2. Take a selfie, enter your personal information and account settings, and attach a photo of a valid ID that has received BPI approval. Complete the remaining information.

  3. Check your application for mistakes. To create an account, click Confirm.

  4. To activate, you must fund your account within seven days.

Can I start a deposit account online if I'm new to BPI?

Yes, you can do so using the BPI Mobile app.

Who can I contact when I have inquiries regarding creating an online BPI savings account?

Send them a note with your questions or concerns, or phone the BPI contact center at (+632) 889-10000, which is open around the clock.