Security Bank savings accounts for may 2024

Security Bank
Open a savings account at Security Bank. On 29.05.2024 there are 3 options available to you
Offers: 3
Updated:
29.08.2022
03:39
Security Bank
Junior One 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.

₱5,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

0.12% per annum
Security Bank
Easy 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.

₱100,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

0.05% per annum
Security Bank
All Access Checking 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.

₱100,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

0.0625% per annum
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
Security Bank savings accounts for may 2024

Security Bank savings accounts are a primary type of bank account that allows you to deposit and withdraw funds.

Types of Security Bank savings accounts

The three types of savings accounts are:

All-Access Account

All-access banking is a savings and checking account all in one. It comes with a passbook, checkbook, an everyday debit/ ATM MasterCard, and free life insurance. Opening balance must be at least ₱5,000, maintaining balance must be at least ₱25,000, and balance to earn interest is at least ₱100,000. Interest rate (p.a.) is 0.0625%. It also comes with free life insurance up to 3x your ADB (up to ₱3M).

Easy Account

Security Bank's most fundamental and user-friendly type of account is an easy savings account. With this account, you can enjoy these benefits:

  • An ATM and a debit card. When you do everything you do daily, including shopping, eating out, paying bills, and more, MasterCard is your go-to partner.
  • You may enjoy special discounts from affiliate retailers.
  • You may freely conduct transactions through Security Bank online and keep an eye on your account from anywhere.
  • There is no maximum deposit.
  • When you upgrade to Gold, you'll receive exclusive benefits like free ATM transactions, waived fees, and more.

Children's Account

This account is specifically designed to support the development of a better future for your children and offers an interest rate higher than our standard savings account rate. A passbook and/or an everyday debit MasterCard are also included. Their junior one account is only available to children who are under the age of 18. This account may

  • Teach your children to save money.
  • Allow your kids to begin their future savings early.
  • Increase their wealth by earning higher than average interest rates.

How to apply?

To apply for a savings account;

  • Visit the bank website, navigate to the Accounts heading, and then choose the savings account type you want to open.

  • Download and fill out the application form, then click Submit.

  • Wait for a reference code to be sent to your mobile number.

  • Go back online and complete your application using the code.

  • Go to the nearest bank premises to pay in money to your account and have it activated.

Requirements

Residential citizens, non-residents citizens, and residential aliens

  • One valid primary ID

  • Two valid secondary IDs

Non-resident aliens

  • Alien Certification of Registration (ACR)

  • I-Card

  • Non-Resident Alien Passport

You may check the bank's website for a list of all the requirements and documents for each savings account type.

Pros and cons

Here are some advantages and disadvantages of using Security Bank's savings account services.

Pros

  • Cash deposits are accepted at bank savings accounts, so you won't have to worry about liquidating investments or taking other onerous actions to access your money.

  • You can open an account without any funds.

Cons

  • The full potential of your money may not be achieved because Security Bank's savings account interest is compounded regularly, if not annually, especially when compared to alternative investment opportunities.

  • Little rate of interest.

FAQ

Who is eligible to open an account with Security Bank?

Any Filipino with certain government-issued picture identification types, such as an appropriate driver's license or passport, a Social Security number, or an Individual Taxpayer Identification Number, is eligible to open a bank account.

Who is eligible to sign up for Security Bank all access?

As long as you meet the starting and maintaining balance requirements, anyone can open an All Access account! You can use it as a payroll account (with at least a gross monthly salary of ₱25,000).

What kind of all account, checking or savings, is the all-access one?

You can decide whether you want a passbook, checkbook, or MasterCard ATM Debit Card with the all-access account. Accordingly, depending on your needs, it can be both a savings and a checking account.