PNB savings accounts for december 2024

The Philippine National Bank savings accounts offer their users convenient and straightforward banking, which allows them to manage their savings and daily financial requirements easily.

Types of Philippine National Bank savings accounts

• PNB Debit Savings Account. This regular savings account comes with a PNB-PAL Mabuhay Miles Debit Mastercard. It requires an initial deposit of ₱3,000, a minimum maintaining a balance of ₱3,000, and a minimal ADB of ₱10,000 to earn interest. The interest rate is 0.1% per annum.
• PNB Passbook Savings Account. This allows its users to earn interest and monitor accounts by updating their passbook, deposit, and withdrawal at any branch. It requires an Initial deposit of ₱10,000, a minimum maintaining balance, and an ADB of ₱10,000. The interest rate is 0.1% per annum.
• PNB TAP MasterCard Account. This is a savings account with zero maintenance balance. It allows for earning interest and points from selected merchants, which can be redeemed for Mabuhay Miles. The only requirement is a minimal ADB of ₱10,000 to earn interest.
• PNB Top Saver Account. This account allows you to earn more as you save. You can grow the interest rate up to a maximum of 0.5%. Your PNB top saver account comes with a passbook and a debit card. It requires an initial deposit of ₱30,000.
• PNB MyFirst Savings Account. This is a savings account meant for students who are seven or above. MyFirst Savings Account comes with a PNB-PAL Mabuhay Miles Debit Mastercard or a PNB passbook. The balance requirements are an initial deposit of ₱0, a minimum maintaining a balance of ₱0, ₱5,000 minimal ADB to earn interest, and an interest rate of 0.100% per annum.
• PNB Pensioner Savings Account. This is an interest-bearing savings account that is designed explicitly for SSS pensioners. It offers secured access to their monthly pensions. It comes with a debit card. The balance requirements are an initial deposit of ₱100, a minimum maintaining a balance of ₱100, ₱5,000 minimal ADB to earn interest, and an interest rate of 0.100% per annum.
• PNB U.S. Direct Deposit Pensioner Account. This is an interest-earning savings account with a lower maintenance balance and service charges for U.S. pensioners. Their balance requirements are an initial deposit of either ₱100 or $200 minimal maintaining balance of ₱100 or $200. The interest rate for peso deposits is 0.1% per annum, and the interest rate for USD deposits is 0%.

How to apply for a Philippine National Bank savings account?

To apply for a Philippine National Bank savings account, follow the steps below:

1. Visit the PNB website

2. Then click on Personal banking.

3. After that you will see some drop down options on the screen, click on Save and grow your money

4. On the deposit accounts box, click on View all accounts.

5. Under the savings account box, click on Learn more.

6. Select the account you want to apply for and click on Learn more written next to it.

7. You have two options, either download the application form or continue applying online.

8. If you decide to download the form, fill it and keep all the required documents ready. After that, create a softcopy of each document and send all the softcopies to the bank at [email protected].

9. You can also choose to apply online, by clicking Click here to apply online.

10. After that, read all the terms and requirements, and tap on Click here get started.

11. Follow all the on screen directions, and complete your application form online.

12. After you have submitted the application form, you will receive an email confirmation for successful registration. After that, you can visit any PNB branch of your choice to pick up your passbook and Visa debit card.

Requirements

Below are the requirements for opening a PNB savings account.

General requirements

• A minimum of one valid identification document with the applicant's photo and signature hasn't expired.
• Affidavit of tax exemption notarized by the depositor.
• RDO from the revenue district office.

• Identification papers, , like:

  • SSS/GSIS cards

  • Driver's license

  • Passport

  • Company ID cards etc.

For OFW applicants

• Minimum of one valid government-issued ID card.
• Consularized certificate of employment compensation.
• COEC with an original six-month payslip and remittance.

For sole proprietorship

• At least one genuine/original ID with a photo issued by a government agency.
• Registration of a business name with the DTI
• .Mayor's permit for the city.

For minors

• Guardian and authentic copy of the court order designating them.
• Authentic/legible copy of NSO birth certificate.

For partnership

• Partnership articles.
• A notarized resolution states each partner's authority level in dealings with the depository bank.
• Registration certificate from the SEC.

For corporation

• Constitutional documents.
• By-laws.
• Permission to open a PNB account.
• SEC certificate of registration.

Pros and cons

Some of the benefits and drawbacks of a PNB savings account are as follows.

Pros

• All the requirements are listed online.

• The application can be completed in a day if all the needs are met.

• The application process is entirely online.

• There are not many eligibility criteria for a savings account.

Cons

• You have to visit the bank to get your debit card or passbook.

• You have to visit the bank to get your passbook and debit card.