This type of time deposit is ideal for short-term peso investment, is low-risk, and comes with a higher interest rate than a regular BDO peso savings account. You can choose your terms of placement, whether it's 30, 60, 90, 180, or 360 days and enjoy the interest rate (per annum as seen below). BDO Long-Term Dollar Time Deposits – Interest Rates BDO also offers higher interest rates for longer-term dollar time deposits, with the rate reaching as high as 3% for a 5-year Time Deposit for a minimum $50,000 placement. Earn, save and invest to become wealthy and financially free! Must read these other awesome posts!
Updated December 13, 2015:
Earn more from your savings accounts; deposit them in higher-interest accounts.
You can earn more from time deposits or mutual funds, but if you don't want to use these at present because of certain reasons, you can deposit your money in savings accounts with higher interest rates.
Nevertheless, when we say high interest, it's NOT really HIGH. It only means that the interest rates are a bit higher than the the interest rate for regular savings accounts, which is usually 0.25 %.
Here are higher-interest savings accounts offered by 2 of the top 3 banks in the Philippines:
BDO
BDO Optimum Savings Account
– monthly average daily balance is 30k
– for individuals and non-stock, non-profit entities
– you can withdraw or debit 3 times a month without charge
– available with passbook and ATM card for personal accounts
– service charge is 300 pesos if monthly average daily balance falls below 30k
– dormancy fee is 300
– Update: Interest rates are no longer published. Rates change frequently, so inquire about rates when you visit your branch.
BDO Super Savings Account
Update: This account is no longer in BDO's list of accounts offered.
BPI and BPI FAMILY SAVINGS BANK
BPI Maxi-Saver Savings
BPI ATM-based Maxi-saver Savings
– monthly average daily balance is 50k
– interest rates:
50,000 to 499,999 — 0.25%
500,000 to 999,999 — 0.375%
1 million and above — 1%
– bonus annual rate of 0.5% if no withdrawal within a month
BPI Passbook-Based Maxi-Saver Savings Account
– monthly average daily balance is 75k
– interest rates:
75,000 to 499,999 — 0.25%
for other amounts, it's the same as above ATM-based Maxi-Saver
Note: If you do not withdraw within a month, you get a bonus annual interest rate of 0.5% for the month.
Interest is credited monthly.
BPI Get Started Savings Account with Life Insurance
ATM-based:
– monthly average maintaining balance = 25,000
– annual interest rate = 0.25%
Passbook-based:
– monthly average maintaining balance = 75,000
– annual interest rate = 0.25%
Note on Life Insurance:
Insurance coverage is equivalent to 5 times your account's Average Daily Balance,
up to 2 million or $40,000, for dollar accounts.
Average Daily Balance here means the Average Daily Balance of the past three calendar months prior to the account owner's demise.
BPI Save-Up Automatic Savings with Free Accident and Life Insurance
– monthly average daily balance = 1,000
– monthly average daily balance to earn interest = 5,000
– free accident and life insurance from BPI-Philam Life Insurance
– amount of life insurance equals 5 times your account's average month-to-date average daily balance up to 2 million pesos and an additional accident insurance of 5 times your account's average daily balance up to 2 million
– interest is credited quarterly
– annual interest rate: 0.25%
BPI Save-Up Automatic Savings With Higher Interest but No Free Insurance
– no initial deposit required if you have an ATM savings account
– monthly average daily balance = 1k
– monthly average daily balance to earn interest = 3k
– automatic transfer of a certain amount of money weekly or monthly from your ATM savings account to your Save-Up account
– you can enroll in BPI Express Online banking
– interest is credited quarterly
– annual interest rates:
5,000 to 49,999 — 0.25 %
50,000 to 499,999 — 0.5 %
500,000 and above — 0.625 %
Above rates are for BPI accounts.
BPI Family accounts offer a bit higher interest rates.
TAX on Interest: 20 % Withholding tax
If you want to earn more from your savings within a 5-year period, check this:
PAG-IBIG II Savings Program.
Bdo Savings Bank Interest Rate
[Last updated 20 May 2020] Compare these high-interest savings accounts (peso-savings) for 2020 offered by the 10 largest banks in the Philippines to find the best one where you could deposit your hard-earned money. Consider high interest rates, initial deposits, maintaining balance, and amount to earn interest.
As I have clarified in one of my articles, maintaining savings accounts and other deposits remains far better than simply keeping a stash of cash under the mattress. Yes, many argue that these are not real investments because we allow our money to sleep in the vault (well, we know what banks do with our money) with a very low interest. However, financial gurus advise that we save and build our emergency funds – in high-interest savings accounts.
Here is a list of peso-savings accounts (2020) offered by the 10 largest banks. Annual interest rates, as indicated, range from 0.10 to 1.25 percent (usually tiered-rate accounts). To know more about interest computations, click this link: Gabay sa Pagbubukas ng Savings Account.
[1] Bank of the Philippine Islands (BPI)
- Advance Savings
- PHP100,000 (min initial deposit)
- PHP100,000 (min MADB requirement)
- PHP100,000 (min balance to earn interest)
- 0.75-1.125% (annual interest)
- Maxi Saver (High Returns)
- PHP50,000 (min initial deposit)
- PHP50,000 (min MADB requirement)
- PHP50,000 (min balance to earn interest)
- 0.25-0.625% (annual interest)
- Pamana Savings (with 3X Life Insurance)
- PHP25,000 (min initial deposit)
- PHP25,000 (min MADB requirement)
- PHP25,000 (min balance to earn interest)
- 0.25% (annual interest)
source: BPI website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[2] Security Bank Corporation (Security Bank)
- eSecure Savings
- PHP500 (min initial deposit)
- PHP500 (min MADB requirement)
- PHP5,000 (min balance to earn interest)
- 0.50-1.20% (annual interest)
- Build Up Savings
- PHP5,000/50,000 (min initial deposit)
- PHP5,000/50,000 (min MADB requirement)
- PHP10,000/50,000 (min balance to earn interest)
- 50/1.00% (annual interest)
- Money Builder
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.10-0.40% (annual interest)
source: Security Bank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[3] BDO Unibank, Inc. (BDO)
- Optimum Savings
- PHP30,000 (min initial deposit)
- PHP30,000 (min MADB requirement)
- PHP30,000 (min balance to earn interest)
- NO DATA (annual interest)
- Passbook Savings
- PHP5,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.25% (annual interest)
- ATM Savings
- PHP2,000 (min initial deposit)
- PHP2,000 (min MADB requirement)
- PHP5,000 (min balance to earn interest)
- 0.25% (annual interest)
- Junior Savers
- PHP100 (min initial deposit)
- PHP100 (min MADB requirement)
- PHP2,000 (min balance to earn interest)
- 0.25% (annual interest)
source: BDO Unibank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[4] Metropolitan Bank and Trust Company (Metrobank)
- Regular Passbook Savings
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.25% (annual interest)
- Regular Debit/ATM Savings
- PHP2,000 (min initial deposit)
- PHP2,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.25% (annual interest)
source: Metrobank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[5] Rizal Commercial Banking Corporation (RCBC)
- Dragon Peso Savings (Premium)
- PHP25,000 (min initial deposit)
- PHP25,000 (min MADB requirement)
- PHP25,000 (min balance to earn interest)
- 0.15-0.5625% (annual interest)
BDO
BDO Optimum Savings Account
– monthly average daily balance is 30k
– for individuals and non-stock, non-profit entities
– you can withdraw or debit 3 times a month without charge
– available with passbook and ATM card for personal accounts
– service charge is 300 pesos if monthly average daily balance falls below 30k
– dormancy fee is 300
– Update: Interest rates are no longer published. Rates change frequently, so inquire about rates when you visit your branch.
BDO Super Savings Account
Update: This account is no longer in BDO's list of accounts offered.
BPI and BPI FAMILY SAVINGS BANK
BPI Maxi-Saver Savings
BPI ATM-based Maxi-saver Savings
– monthly average daily balance is 50k
– interest rates:
50,000 to 499,999 — 0.25%
500,000 to 999,999 — 0.375%
1 million and above — 1%
– bonus annual rate of 0.5% if no withdrawal within a month
BPI Passbook-Based Maxi-Saver Savings Account
– monthly average daily balance is 75k
– interest rates:
75,000 to 499,999 — 0.25%
for other amounts, it's the same as above ATM-based Maxi-Saver
Note: If you do not withdraw within a month, you get a bonus annual interest rate of 0.5% for the month.
Interest is credited monthly.
BPI Get Started Savings Account with Life Insurance
ATM-based:
– monthly average maintaining balance = 25,000
– annual interest rate = 0.25%
Passbook-based:
– monthly average maintaining balance = 75,000
– annual interest rate = 0.25%
Note on Life Insurance:
Insurance coverage is equivalent to 5 times your account's Average Daily Balance,
up to 2 million or $40,000, for dollar accounts.
Average Daily Balance here means the Average Daily Balance of the past three calendar months prior to the account owner's demise.
BPI Save-Up Automatic Savings with Free Accident and Life Insurance
– monthly average daily balance = 1,000
– monthly average daily balance to earn interest = 5,000
– free accident and life insurance from BPI-Philam Life Insurance
– amount of life insurance equals 5 times your account's average month-to-date average daily balance up to 2 million pesos and an additional accident insurance of 5 times your account's average daily balance up to 2 million
– interest is credited quarterly
– annual interest rate: 0.25%
BPI Save-Up Automatic Savings With Higher Interest but No Free Insurance
– no initial deposit required if you have an ATM savings account
– monthly average daily balance = 1k
– monthly average daily balance to earn interest = 3k
– automatic transfer of a certain amount of money weekly or monthly from your ATM savings account to your Save-Up account
– you can enroll in BPI Express Online banking
– interest is credited quarterly
– annual interest rates:
5,000 to 49,999 — 0.25 %
50,000 to 499,999 — 0.5 %
500,000 and above — 0.625 %
Above rates are for BPI accounts.
BPI Family accounts offer a bit higher interest rates.
TAX on Interest: 20 % Withholding tax
If you want to earn more from your savings within a 5-year period, check this:
PAG-IBIG II Savings Program.
Bdo Savings Bank Interest Rate
[Last updated 20 May 2020] Compare these high-interest savings accounts (peso-savings) for 2020 offered by the 10 largest banks in the Philippines to find the best one where you could deposit your hard-earned money. Consider high interest rates, initial deposits, maintaining balance, and amount to earn interest.
As I have clarified in one of my articles, maintaining savings accounts and other deposits remains far better than simply keeping a stash of cash under the mattress. Yes, many argue that these are not real investments because we allow our money to sleep in the vault (well, we know what banks do with our money) with a very low interest. However, financial gurus advise that we save and build our emergency funds – in high-interest savings accounts.
Here is a list of peso-savings accounts (2020) offered by the 10 largest banks. Annual interest rates, as indicated, range from 0.10 to 1.25 percent (usually tiered-rate accounts). To know more about interest computations, click this link: Gabay sa Pagbubukas ng Savings Account.
[1] Bank of the Philippine Islands (BPI)
- Advance Savings
- PHP100,000 (min initial deposit)
- PHP100,000 (min MADB requirement)
- PHP100,000 (min balance to earn interest)
- 0.75-1.125% (annual interest)
- Maxi Saver (High Returns)
- PHP50,000 (min initial deposit)
- PHP50,000 (min MADB requirement)
- PHP50,000 (min balance to earn interest)
- 0.25-0.625% (annual interest)
- Pamana Savings (with 3X Life Insurance)
- PHP25,000 (min initial deposit)
- PHP25,000 (min MADB requirement)
- PHP25,000 (min balance to earn interest)
- 0.25% (annual interest)
source: BPI website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[2] Security Bank Corporation (Security Bank)
- eSecure Savings
- PHP500 (min initial deposit)
- PHP500 (min MADB requirement)
- PHP5,000 (min balance to earn interest)
- 0.50-1.20% (annual interest)
- Build Up Savings
- PHP5,000/50,000 (min initial deposit)
- PHP5,000/50,000 (min MADB requirement)
- PHP10,000/50,000 (min balance to earn interest)
- 50/1.00% (annual interest)
- Money Builder
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.10-0.40% (annual interest)
source: Security Bank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[3] BDO Unibank, Inc. (BDO)
- Optimum Savings
- PHP30,000 (min initial deposit)
- PHP30,000 (min MADB requirement)
- PHP30,000 (min balance to earn interest)
- NO DATA (annual interest)
- Passbook Savings
- PHP5,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.25% (annual interest)
- ATM Savings
- PHP2,000 (min initial deposit)
- PHP2,000 (min MADB requirement)
- PHP5,000 (min balance to earn interest)
- 0.25% (annual interest)
- Junior Savers
- PHP100 (min initial deposit)
- PHP100 (min MADB requirement)
- PHP2,000 (min balance to earn interest)
- 0.25% (annual interest)
source: BDO Unibank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[4] Metropolitan Bank and Trust Company (Metrobank)
- Regular Passbook Savings
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.25% (annual interest)
- Regular Debit/ATM Savings
- PHP2,000 (min initial deposit)
- PHP2,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.25% (annual interest)
source: Metrobank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[5] Rizal Commercial Banking Corporation (RCBC)
- Dragon Peso Savings (Premium)
- PHP25,000 (min initial deposit)
- PHP25,000 (min MADB requirement)
- PHP25,000 (min balance to earn interest)
- 0.15-0.5625% (annual interest)
- iSave
- NONE (min initial deposit)
- NONE (min MADB requirement)
- PHP5,000 (min balance to earn interest)
- 0.15-0.20% (annual interest)
source: RCBC website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[6] China Banking Corporation (Chinabank)
- Money Plus Savings
- PHP20,000 (min initial deposit)
- PHP20,000 (min MADB requirement)
- PHP50,000 (min balance to earn interest)
- 0.125% (annual interest)
- ChinaCheck Plus
- PHP5,000 (min initial deposit)
- PHP5,000 (min MADB requirement)
- PHP50,000 (min balance to earn interest)
- 0.125% (annual interest)
- Passbook Savings
- PHP5,000 (min initial deposit)
- PHP5,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.125% (annual interest)
source: Chinabank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[7] Philippine National Bank (PNB)
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- Passbook Savings
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP15,000 (min balance to earn interest)
- 0.10% (annual interest)
- Debit Savings Account
- PHP3,000 (min initial deposit)
- PHP3,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.10% (annual interest)
source: PNB website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[8] Union Bank of the Philippines (Unionbank)
- Regular Savings Account
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP25,000 (min balance to earn interest)
- 0.10% (annual interest)
- Personal Savings Account
- NONE (min initial deposit)
- NONE (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.10% (annual interest)
Source: Unionbank official website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[9] Land Bank of the Philippines (Landbank)
- Easy Savings Plus (ESP)
- PHP20,000 (min initial deposit)
- PHP20,000 (min MADB requirement)
- PHP20,000 (min balance to earn interest)
- NO DATA (annual interest)
- Regular Passbook Savings
- PHP10,000 (min initial deposit)
- PHP10,000 (min MADB requirement)
- PHP10,000 (min balance to earn interest)
- 0.10% (annual interest)
source: Landbank website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
[10] Development Bank of the Philippines (DBP)
- ATM or Passbook
- PHP500 (min initial deposit)
- PHP500 (min MADB requirement)
- PHP500 (min balance to earn interest)
- NO DATA (annual interest)
- Wisdom Account
- PHP5,000 (min initial deposit)
- PHP5,000 (min MADB requirement)
- PHP5,000 (min balance to earn interest)
- NO DATA (annual interest)
Bdo Savings Account
source: DBP website (data as of 20 May 2020). Visit their official website or the nearest servicing branches to check for possible updates on high-interest savings accounts and current rates.
Bdo Time Deposit Rate
Disclaimer: The author is not directly affiliated with any of these 10 largest banks in the Philippines, however maintains peso-savings accounts with some of them. Please take this article providing helpful information about high-interest savings accounts as a personal guide upon opening a savings account; hence, visiting the official websites and servicing branches of these banks is highly advised. Columbus deluxe.
