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Sterling Bank of Asia savings accounts for October 2022 in the Philippines

Open a savings account at Sterling Bank of Asia. On 02.10.2022 there are 4 options available to you.

Offers: 4

Updated:
29.08.2022
05:21
Sterling Bank of Asia
Bayani OFW 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.

₱2,000 minimum balance to earn interest
Rate
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Effective interest rate on the product

1% per annum
Sterling Bank of Asia
Solo Yuan 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.

¥2,500 interest earning balance
Rate
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Effective interest rate on the product

0.15% per annum
Sterling Bank of Asia
Solo basic 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.

₱2,000 minimum balance to earn interest
Rate
i

Effective interest rate on the product

0.50% per annum
Sterling Bank of Asia
Solo dollar 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.

$500 interest earning balance
Rate
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Effective interest rate on the product

0.125% per annim

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!
Open your account!

Sign the contract and open your account online or at the bank's branch.

Apply Your data is securely protected
Sterling Bank of Asia savings accounts for October 2022

Sterling Bank savings accounts are a primary type of bank account that allows you to deposit funds and withdraw them; the bank pays compounded interest on the balances of these accounts. A savings account is intended to be a safe place to store money you do not use for regular spending.

Types of Sterling Bank of Asia savings account

Solo savings account

This savings account gives you the convenience you want. You can access your online account with this account and it comes with the ShopNPay Visa debit card. Interest is credited monthly.

Solo Dollar Savings Account

This account lets you own a dollar account. With this account, USD notes with a low initial deposit are immediately available on request. Interest is paid monthly.

Solo Basic Savings Account

This interest-bearing savings account option is considered the best choice for new bank account openings because of its ease of use and its competitive price. In addition to ShopNPay Visa Debit Card, customers can also earn high interest rates by setting up a Neo Savings Account - a saving account for those under the age of 25. Any amount can be deposited in the initial deposit, and interest rates are high. Passbook and Neo Visa debit Card are included.

Solo Yuan Savings Account

This account is the latest addition to the bank's portfolio of deposit options for both individual and business customers. Easy-to-store RMB notes are available on request immediately. Interest is credited monthly.

Bayani OFW Savings Account

Bayani OFW Savings Account is a bank savings account for overseas Filipino workers that can be accessed through an ATM. No initial deposit is required. Comes with a Bayani OFW Visa Debit card.

How to apply?

The application could be made both online and offline, but in the online one, you may be required to go to a bank branch close to you to activate your account.

To open a savings account online;

  • Visit the Sterling Bank website and Navigate to the Savings bank.

  • Click on Open account and fill out the downloaded form.

  • Wait for the reference number to be sent to you through SMS

  • Visit your closest branch and deposit the specified opening balance to activate your account.

Requirements

  • The minimum ADB requirement is ₱5,000.00

  • Can be opened with any amount

  • Must be a Filipino citizen.

  • Your current employer must provide you with an employment certificate (EC), which should include both your information and the information of the company. Since this is a requirement for opening an account with any bank or firm in the Philippines, ensure you have it with you whenever you go to open an account.

Pros and cons

Here are some pros and cons of using the savings account services offered by Sterling bank.

Pros

  • Sterling Bank savings accounts accept cash deposits, so you don't need to worry about selling investments or making other complicated moves to access your money.

  • You can open an account with no money in it.

Cons

  • Sterling Bank's savings account interest is compounded monthly, if not even annually, so the full potential of your money may not be realized, particularly when compared to other investment opportunities.

  • They offer low interest rates.

FAQ

Who can open a Sterling Bank savings account?

Any Filipino that has some types of government-issued photo identification required for opening a bank account, including an appropriate driving license or passport, a Social Security number, or an Individual Taxpayer Identification Number.

What do I need to open a Sterling Bank savings account?

You only need to present a valid ID and an initial deposit of ₱100 to open a Solo Basic savings account.

What do I get when I open a Sterling Bank Solo savings account?

You will get a free passbook that you can use in your over-the-counter bank transactions. This is what you can use to monitor your savings.

Do I need to maintain a balance to use my Sterling Bank Solo Savings Account?

There is no need to maintain a balance for your Solo Basic Savings Account, so aging only depends on what you can afford.