City Savings Bank savings account for december 2024

City Savings Bank
Open a savings account at City Savings Bank. On 07.12.2024 there are 1 options available to you.
Offers: 1
Updated:
20.10.2022
07:32
City Savings Bank
Savings account
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from ₱3,000
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Effective interest rate on the product

0.25% per annum
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City Savings Bank savings account for december 2024

You can keep your funds safe while still having access to it with a City Savings Bank savings account. Opening a savings account with the bank is easy and affordable, according to them.They require an opening balance of ₱3,000 and a maintaining balance of ₱3,000 To earn interest, you must have at least a balance of ₱3,000, and the interest rate per annum is 0.25%. There is also an option to have a passbook only, or an ATM card only, or both passbook and ATM card.

How to apply for a City Savings Bank savings account?

The City Savings Bank savings account can only be opened in person. You must ensure that you fulfill all qualifying conditions and that you have the required papers. Please, bring it to your nearest City Savings Bank branch and explain to a customer care representative that you are coming to apply for a savings banking account.

Requirements for the City Savings Bank savings account

You must fulfill all eligibility conditions and have the essential papers to be eligible for an account. They are listed below.:

For individuals

  • Have at least two valid government-issued identification cards.
  • Possess one signature card.
  • Have the account opening form, which must be obtained at any of the City Savings Bank branches.
  • Must accept the conditions and terms for an ATM card or a passbook.

For sole proprietorship

  • Have at least two valid government-issued identification cards that must have a proprietor or any authorized signatory on it.
  • Possess one signature card.
  • Have the account opening form, which must be obtained at any of the City Savings Bank branches.
  • Have a certificate of business name registration from the Department of Trade and Industry of the Philippines.

  • Have a mayor's permit.

  • Possess an application for business name registration with the Department of Trade and Industry of the Philippines, in case the certificate of registration has not yet been issued.

  • Have a current and notarized special power of attorney. This is applicable if another individual (other than the sole proprietor) is permitted to administer the business or sign on its behalf.

For partnership

  • Must be in possession of at least two genuine government-issued identity cards.
  • Required to have one signature card.
  • Must have an account opening form, which is available at any City Savings Bank branch.
  • Must have the articles or proof of co-partnership on hand.
  • Must have a certificate of registration of the articles of partnership obtained from the securities and exchange commission of the Philippines.
  • Must have a resolution of authorized signatures from the partnership.

Pros and cons of the City Savings Bank savings account

These honest perks and drawbacks will help you decide whether or not this is the right savings account for you.

Pros

  • The bank’s savings account interest rate is higher than so many competitors’.
  • The requirements are much lower than that of some competitors too.

Cons

  • The application is done only in-branch.
  • The bank offers just one savings account.

FAQ

When will my City Savings Bank account become inactive?

An account might be termed inactive after two years of no deposit or withdrawal activity.

What is the process for obtaining a copy of my City Savings Bank savings account statement?

To obtain a copy of your account statement, you can go to any City Savings Bank branch near you or reach them by phone or e-mail. You can also use your ATM card to view your transactions at any time and from any location.

How can I find out the balance of my City Savings Bank savings account?

You can check your balance at any local ATM, or even better, go to a CitySavings location near you.

Can I register a City Savings account if I live in a country other than the Philippines?

Yes. You can open an account if you are a Filipino citizen. However, keep in mind that the account must be used within two years or it will be considered inactive.