Teach kids the value of saving early.
This account is specially designed for young savers to develop good financial habits while earning interest. It’s a fun and easy way to start managing money from an early age.
The Young Savers Account is perfect for teaching financial responsibility early. With interest-earning deposits and easy parental monitoring, kids can start building their future today.
Php 100.00
0.625% p.a.
Php 500.00
Passbook and ATM Card (optional)
Looking to open a savings account for your child? Get in touch with us, and we’ll help you set up an account that nurtures good saving habits from an early age.
The Young Savers Account is open to minors (7 to 17 years old) with a parent or guardian as a co-account holder. A valid ID and the child’s birth certificate are required for account opening.
A valid ID of the parent or guardian and the child’s birth certificate are required. Additional documents may be requested if necessary.
Parents or guardians must provide a valid ID, proof of employment, and the child’s birth certificate or school ID.
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Learn MoreStarting a savings account as a kid in the Philippines is an excellent way to help individuals cultivate good financial habits while preparing for their future. Designed specifically for the younger generation, these accounts often come with features like no overdraft fees or monthly charges, making saving easier and more accessible.
Starting to save early helps you gradually build funds to handle unexpected expenses, invest in opportunities, or work toward bigger aspirations like education, travel, or business ventures. Early saving also allows you to take advantage of compound interest, where your money grows over time with little effort.
It also instills discipline and responsible money management, which are vital skills for navigating life’s challenges. Developing a habit of saving ensures you stay focused on your goals and steadily progress toward them. Even small contributions made early on can lead to significant results, proving that it’s never too early to start planning for a better future.
Opening a savings account for kids in the Philippines at the Bank of Makati offers benefits tailored to meet the unique financial needs of young individuals.
At Bank of Makati, we ensure that your savings account for students in the Philippines is accessible with a low initial deposit. You only need ₱100.00 to open the account, making it easy for young savers to start. To earn interest, a minimum maintaining balance of ₱500.00 is required.
A savings account for students in the Philippines provides a secure place to store money, minimizing the risks of theft or loss by keeping cash at home or carrying it around. Funds in a bank account are protected from physical loss, offering students peace of mind. Our deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) for up to ₱500,000 per depositor, providing an extra layer of security for your savings.
A savings account for kids in the Philippines is designed to meet their unique financial needs while promoting responsible money management. With our Young Savers account, we provide a dedicated savings option that helps children develop strong financial habits from an early age, teaching them valuable lessons about banking, saving, and managing money responsibly.
At the Bank of Makati, our savings accounts for students in the Philippines are designed to encourage saving among students with low initial deposits and competitive interest rates. This structure not only provides financial education but also ensures that young savers can easily access their funds while benefiting from interest earnings.
To open a student bank account at the Bank of Makati, the following documents are required:
When opening an account at the Bank of Makati, different types of accounts may have varying fees. For the Young Savers Account, the required initial deposit is ₱100.00, and to earn interest, a minimum maintaining balance of ₱500.00 is needed. This account offers an interest rate of up to 0.625% per annum.
When you turn 25, your student account, like the Young Savers Account at Bank of Makati, may change to a regular savings account. This change could come with updated requirements, such as higher maintaining balances and different fees.
You can use your ATM card at any BancNet ATM for cash withdrawals, keeping in mind daily limits and fees for out-of-network ATMs. Alternatively, visit any Bank of Makati branch with your ID and passbook or account number to withdraw over the counter. If linked to digital payment platforms, you can also make cashless transactions for purchases or payments.