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UnionBank savings accounts for September 2022 in the Philippines

Open a savings account at UnionBank. On 25.09.2022 there are 7 options available to you

Offers: 7

Updated:
29.08.2022
09:08
UnionBank
Dollar Access 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.

$10,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.050% per year
UnionBank
US 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 minimum initial deposit
Rate
i

Effective interest rate on the product

0.05% per year
UnionBank
Third Currency 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.

EUR 3,000, GBP 2,000, JPY 400,000, AUD 3,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0% for EUR and JPY, 0.05% per year for GBR and AUD
UnionBank
Regular 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.

₱10,000 minimum initial deposit
Rate
i

Effective interest rate on the product

0.10% per year
UnionBank
Personal 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.

no initial deposit required
Rate
i

Effective interest rate on the product

0.10% per year
UnionBank
First 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.

₱100 minimum initial deposit
Rate
i

Effective interest rate on the product

0.10% per year
UnionBank
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.

no initial deposit required
Rate
i

Effective interest rate on the product

0.10% per year

Other types of savings accounts

How to open a savings account

Fill out your application
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On our website you can fill out a short application form for a savings account.
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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.
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UnionBank savings accounts for September 2022

With a UnionBank Savings Account, you can keep your money safe while still having access to it when needed.

Types of UnionBank savings bank accounts

The bank offers numerous savings accounts. We will look at them in this section:

  • Savings+ account. You may build your savings while receiving free group life insurance, and you can start an online account with UnionBank. The initial deposit is ₱0, the minimum ADB requirement is ₱25,000, the ADB required to earn interest is ₱100,000, and the interest rate is 0.10%.
  • First Savings. With this account, you may teach your children to save from an early age. The initial deposit is ₱100, the minimum ADB requirement is ₱100, the ADB required to earn interest is ₱5,000, and the interest rate is 0.10%.
  • Personal Savings account. With a Visa EMV debit card, you may enjoy the benefits of a savings account without worrying about keeping a particular amount of money in your account. The initial deposit is ₱0, the minimum ADB requirement is ₱0, the ADB required to earn interest is ₱10,000, and the interest rate is 0.10%.
  • Regular Savings account. If you require quick access to your money, create a UnionBank ordinary savings account, and you can transact anytime, anywhere. The initial deposit is ₱10,000, the minimum ADB requirement is ₱10,000, the ADB required to earn interest is ₱25,000, and the interest rate is 0.10%.
  • US Dollar Savings account. Traveling overseas with a US dollar debit card may earn interest on your dollars while also enjoying the ease of cashless transactions. The initial deposit is $500, the minimum ADB requirement is $500, the ADB required to earn interest is $1,000, and the interest rate is 0.05%.
  • Dollar Access account. If you have funds that give you more limits than benefits, a UnionBank Dollar Access account can help you have more access to your money. The initial deposit is $10,000, the minimum ADB requirement is $10,000, the ADB required to earn interest is $25,000, and the interest rate is 0.05%.
  • Third currency Savings account. You can keep your foreign currency safe while also earning interest on it. The initial deposits are £2,000, €3,000, ¥400,000, and A$3,000. The minimum ADB requirements are £2,000, €3,000, ¥400,000, and A$3,000. The minimum ADB to earn interest is £2,000, €3,000, ¥400,000, and A$3,000. The Interest rates are:

    • £ = 0.05%
    • € = 0.0%
    • ¥ = 0.0%
    • A$ = 0.05%

      How to apply for a UnionBank savings bank account?

      You can apply for peso savings accounts using the Unionbank mobile app, but you can only apply in branches for dollar accounts. To apply using the app, follow the steps below:

      1. Download the UnionBank mobile app for your preferred operating system following the steps in this article.

      2. Select the peso savings account you wish to open.

      3. Fill out the forms that will be shown and follow the onscreen steps, providing your IDs, to complete your application.

      Requirements

      Below are the requirements to open a savings bank account:

      General requirements

      • At least one valid identification document (ID) with the applicant's photo and signature that is not expired.

      • Affidavit of tax exemption notarized by the applicant/depositor.

      • Tax exemption certification (RDO) from the revenue district office.

      • Identification papers, for example:

        • Driver's license

        • SSS/GSIS cards

        • Company ID cards

        • Passport, etc.

      For OFW applicants

      • ​At least one government-issued valid ID card.
      • Consularized certificate of employment compensation, COEC with original six-month remittances.
      • Consularized certificate of employment compensation, COEC with an original six-month payslip.

      For sole proprietorship

      • Registration of a business name with the Department of Trade and Industry (DTI).

      • Mayor's permit for the city or municipality.

      • A minimum of one genuine, original ID with a photo issued by a government agency.

      For partnership

      • Partnership articles.

      • Registration certificate from the Securities and Exchange Commission (SEC).

      For corporation

      • Constitutional documents.

      • SEC certificate of registration or a similar document from another suitable agency.

      • By-laws.

      For minors

      • Authentic and legible copy of NSO birth certificate.

      • Guardian or supervisor, or an original and readable copy of the court order designating them.

      Pros and cons

      If you are interested in opening a UnionBank savings account, read through the pros and cons.

      Pros

      • There are a variety of savings accounts to choose from.

      • There's an account for all major currencies.

      Cons

      • The interest rates are lower compared to competitors.

      • UnionBank's savings account interest is compounded on a regular, if not annual, basis, the full potential of your money may not be realized, especially when compared to alternative investment alternatives.

      FAQ

      How do I obtain a copy of my UnionBank savings account statement?

      You can visit any branch near you or contact them by phone or e-mail to acquire a copy of your account statement. Download UnionBank app and join your account to view your transactions whenever and wherever you choose.

      What options do I have for checking the balance of my UnionBank savings account?

      Download UnionBank app to access your accounts while you're on the road. You can also check your balance at the nearby ATM.