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China Bank savings accounts for february 2024

China Bank
Open a savings account at China Bank. On 22.02.2024 there are 14 options available to you.
Offers: 14
Updated:
14.10.2022
07:42
China Bank
Special US Dollar Time Deposit
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

fixed interest rate for the entire term
Term
i

Loan term for the financial product

from 3 years
China Bank
Foreign Currency Time Deposit
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.

$1,000 or €1,500 minimum initial deposit
Rate
i

Effective interest rate on the product

0.6250% - 2% for USD, 0% for Euro per year
Term
i

Loan term for the financial product

30 - 360 days
China Bank
Premium Savings Account
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.

$1,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.050% per year
China Bank
Overseas Kababayan Savings - USD
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.

$10 minimum initial deposit
Rate
i

Effective interest rate on the product

0.050% per year
China Bank
Foreign Currency 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, €1,000, 2,500 Chinese Yuan, 50,000 Japanese Yen
Rate
i

Effective interest rate on the product

0.050% for USD, 0.025% for Euro, 0.080% for Chinese Yuan, 0% for Japanese Yen
China Bank
Money Lift 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
Term
i

Loan term for the financial product

5 years and 1 day
China Bank
Diamond 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

0.5% - 2.25% per year
Term
i

Loan term for the financial product

30 - 360 days
China Bank
Regular Time Deposit
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% - 2% per year
Term
i

Loan term for the financial product

90 - 360 days
China Bank
Young Savers
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

0.125% per year
China Bank
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

0.125% per year
Savii
1
No comment yet coz im not yet approved in my application
Review
DIGIDO
5
very fast
Review
Kviku
4
Please address my concerns regarding my loan application and its processing...
Review
Kviku
1.6
Warning: This lender is predatory and extremely dangerous. Do not use this app for loans as they will trap you with impossible and maliciously high interest rates...
Review
Kviku
1.4
I was charged an excessive amount by KVIKU. My last loan was approved on November 25th, 2022 for 5000 pesos...
Review
Kviku
1.8
High Interest Rate. They approved my auto loan without discussing repayment options in full. Instead, they sent me a contract with scheduled payments, which is nowhere near the advertised 0...
Review
China Bank savings accounts for february 2024

Types of China Bank savings accounts

A China Bank savings account is a bank account held at the company that offers nominal interest rates and principal security.

China Bank offers two types of savings accounts: peso accounts and foreign currency accounts.

Peso savings accounts

A simple peso deposit accounts for your everyday banking requirements. It has different types, which could be seen below.

ATM Savings

With an account that is just as accessible as your lifestyle, you can enjoy 24/7 banking ease. This account comes with an annual interest of 0.125%, subject to a 20% withholding tax. Interest rates and amount tiers may change at any time without prior notification. The minimum initial deposit is ₱2,000, and the ADB requirement is also ₱2,000. The minimum balance to earn interest is ₱10,000.

ChinaCheck Plus

With this economic interest-bearing savings account that includes an ATM card, you may get value and convenience in one. This account comes with an annual interest of 0.125%, subject to a 20% withholding tax.

Interest rates and amount tiers may change at any time without prior notification. The minimum initial deposit is ₱5,000, and the ADB requirement is also ₱5,000. The minimum balance to earn interest is ₱50,000.

MoneyPlus Savings

Your freedom and liquidity are provided by this savings account so that you can increase the interest of your account and generate extra income. This account comes with an annual interest of 0.125%. The minimum initial deposit is ₱20,000, and the ADB requirement is also ₱20,000. The minimum balance to earn interest is ₱50,000.

Overseas Kababayan Savings

For OFWs, this account with no initial deposit and no balance maintenance enhances the security and convenience of saving money and sending and receiving remittances. The minimum balance to be eligible for interest is ₱1,000.00, and the interest rate is 0.125% p.a., which is subjected to a 20% withholding tax.

Passbook Savings

With this account, you can save money in a straightforward, easy-to-monitor savings account for when or if an emergency occurs. This account comes with an annual interest of 0.125%, subject to a 20% withholding tax. Interest rates and amount tiers may change at any time without prior notification. The minimum initial deposit is ₱5,000, and the ADB requirement is also ₱5,000. The minimum balance to earn interest is ₱10,000.

Young Savers

This is a minimum initial deposit, and minimum balance requirement for interest-bearing Peso savings accounts for children and teenagers ages 17 and under. This account comes with an annual interest of 0.125%, subject to a 20% withholding tax. Interest rates and amount tiers may change at any time without prior notification. The minimum initial deposit is ₱100, and the ADB requirement is also ₱100. The minimum balance to earn interest is ₱2,000.

Other peso accounts are:

  • Regular time deposit

  • Diamond Savings

  • Money Lift Plus

Foreign currency savings accounts

These China Bank savings accounts can assist you in managing and increasing your US dollar, euro, yuan, and yen assets, whether for investment, business/trade, or remittances. They are:

  • Foreign currency savings account

  • Overseas kababayan savings account

  • Foreign currency deposit accounts

  • Premium savings account

  • Special US dollar time deposit accounts

Attention! For a complete list of interest rates, initial deposits, monthly ADB, and minimum ADB to earn interest for each foreign currency savings account, visit the China Bank website.

How to apply for a China Bank savings account?

Application is made only at the bank’s premises, which means you must visit the bank to apply for a savings account.

  1. Make sure you pass all the eligibility and requirements criteria.

  2. Visit the nearest China Bank branch to you.

  3. State the reason for your visit, and you’ll be given an application form.

  4. Submit your filled form with all the requirements and documents.

  5. Follow the subsequent directives provided by the customer service to complete your application.

Requirements

The general requirements are:

  • Two ID photos [(1x1)].

  • At least one of the following legal identifications, both in original form and in clear copy:

    • Passport

    • Driving permit

    • ID for the professional regulations commission

    • Clearance from the national bureau of investigation

    • Police clearance

    • Mail ID

    • Voter’s ID

Attention! For a complete list of documents and requirements for each loan, visit the China Bank website.

Pros and cons

Here are some pros and cons you should consider before applying for a China Bank savings account:

Pros

  • There are several types of savings accounts available.

  • To open a savings account, not many conditions must be met.

Cons

  • There aren’t many eligibility conditions listed on the website, so you’ll need to take the pains of visiting a branch or calling a customer representative to know this.

  • Only bank branch applications are available.

FAQ

Is the money in my savings account with China Bank insured?

Yes. PDIC offers deposit insurance up to ₱500,000 per depositor.

Is there a service charge for faxing a bank statement for a China Bank savings account?

Customers in Metro Manila and the provinces can request their bank statement through fax without paying a fee. However, the bank claims that a fixed service cost will shortly be assessed.