Overview
- Savings accounts offer a secure place to deposit money while earning interest, helping individuals stay on track to meet financial goals such as vacations, education, or retirement.
- Some of the types of savings accounts available in the Philippines include Regular Savings Accounts, Checking Accounts plus, Power Cash ATM Accounts, Young Savers with ATMs, and Checking Accounts Premium.
- By understanding the different types of savings accounts, individuals can select the one that best aligns with their financial needs and goals.
Saving and growing your money can be easier with a savings account. It provides a secure place to deposit your money while allowing it to grow through interest over time. It benefits people from all walks of life, whether you’re a student, a working professional, or preparing for retirement.
By exploring the different types of savings accounts in the Philippines, you can choose options that offer higher interest rates, lower fees, or added perks such as rewards and insurance coverage. Understanding these options helps individuals maximize their savings potential and enjoy financial security tailored to their needs.
A regular savings account is one of the most widely used types of savings accounts in the Philippines, helping you save while earning interest. It offers a secure place for your funds with easy access.
At Bank of Makati, our Regular Savings Account requires a modest initial deposit of only ₱500, making it an ideal option for students and young professionals. With an interest rate of 0.625% per annum, based on the average daily balance (ADB), your savings will grow steadily over time.
As an account holder, you’ll receive a passbook to monitor your transactions and an ATM card to access your funds. Plus, your deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) for up to ₱1,000,000, ensuring your money’s safety.
A checking account, or current account, is designed for daily financial transactions like paying bills, making purchases, and managing expenses. Unlike regular savings accounts, it gives you instant access to your funds, making it a versatile tool for personal and business needs.
The Checking Account Plus from the Bank of Makati offers enhanced flexibility with an initial deposit of just ₱5,000 and an interest rate of 0.625% per annum on your average daily balance. It includes a checkbook, an ATM card, and free over-the-counter deposits and withdrawals.
You’ll also enjoy free interim statements and advanced online banking features, giving you control over your finances and the ability to track transactions anytime. Our Checking Account Plus provides the essential tools for everyday banking, while also offering a competitive interest rate to help your savings grow.
The Power Cash ATM Account is a convenient savings option for those who want quick access to their money while earning interest. You can easily withdraw cash, check balances, and complete other transactions at ATMs without visiting a bank branch. Additionally, your funds earn interest, helping your savings grow over time.
Opening a Power Cash ATM Account requires just a ₱500 initial deposit, making it an affordable choice for many. It offers an interest rate of 0.625% per annum on your average daily balance, provided you maintain a minimum balance of ₱2,000. This way, your savings grow while you enjoy easy access to your funds.
As an account holder, you can withdraw cash and check balances at any BancNet ATM, available 24/7. You can also make deposits and withdrawals for larger transactions over the counter at any Bank of Makati branch.
Plus, it supports cashless payments for added convenience—making it the ideal savings solution for those who value flexibility, easy access, and earning interest on their funds.
With the Young Savers with ATM account, your child can begin saving early and easily access their funds using an ATM card. Designed to promote financial literacy, it helps teach valuable saving habits, encourages responsible money management, and introduces your child to banking in a safe, secure environment.
Available to minors aged seven to 17, it provides a reliable place for your child to deposit their allowance or earnings while learning the importance of saving and developing essential financial skills.
The Young Savers with ATM account from the Bank of Makati offers several convenient features. You can open the account with just a ₱100 initial deposit, making it an affordable option for families.
To earn interest at a rate of 0.625% per annum, a minimum balance of ₱500 is required. Your child can use an ATM card to withdraw cash and check balances at any BancNet ATM. Additionally, it comes with a passbook, allowing your child to track transactions and better understand how banking works.
A checking account provides a secure and convenient way to manage daily transactions—prioritizing accessibility and liquidity.
The Checking Account Premium from the Bank of Makati offers enhanced features with an initial deposit of ₱5,000 for personal accounts and ₱10,000 for corporate accounts.
To avoid maintenance fees and earn interest, you need to maintain a minimum average daily balance (MADB) of ₱10,000. With tiered interest rates compounded daily, your earnings increase as your balance grows, starting from ₱100,000. You can easily track transactions with a passbook or record book and access funds with an optional ATM card.
While both the Checking Account Plus and Premium require similar initial deposits, the Premium account offers higher interest potential for larger balances, making it ideal for those who maintain higher balances.
With us, your money is not just safe—it will also grow. You can easily start building your savings with our low initial deposit requirements across our savings accounts. We offer competitive interest rates and flexible account options to suit your financial goals, whether you’re saving for short-term plans or long-term growth.
As a community bank, the Bank of Makati prioritizes personalized service. You can expect assistance tailored to your specific banking needs, enhancing your overall experience. We’re committed to providing solutions that help you achieve financial security and success in the Philippines.
By understanding the different types of savings accounts available, you can choose the one that best suits your needs and goals.
Start your financial journey with the Bank of Makati and enjoy the benefits of a secure and convenient savings account. Whether you’re saving for future goals or just getting started, our accounts are designed to help you grow your money with ease. Contact us today to learn more!