Do you want to know which are the best banks with low initial deposit in the Philippines?
Every time payday comes, a great money habit is to pay yourself by depositing money into your bank account.
But a lot of Filipinos don’t have bank accounts under their names because they think they need to deposit a huge amount of money just to get started.
The good news?
There are actually lots of banks with no maintaining balance in the Philippines!
This means you can start opening a bank account so you can get into the habit of saving for yourself first.
Here are five Philippine banks with the lowest initial deposit requirement. Choose one and get started with opening an account for your future:
1. Equicom Savings Bank
Account name: ATM Savings Account
Lowest Initial Deposit: P100
Required minimum maintaining balance: P100
- With ATM/debit card you can use at BancNet, Expressnet, Megalink and VisaPlus ATMs
- Maximum of Php10,000.00 withdrawal per transaction and Php 50,000 withdrawal per day
- Easy Access to your funds via the Equicom Internet and Mobile Banking Facilities
2. EastWest Bank
Account name: Basic Savings Account
Lowest Initial Deposit: P100
Required minimum maintaining balance: P100
- With ATM and VISA debit card you can use at BancNet, Expressnet, Megalink and VisaPlus ATMs
- You can also use your VISA Debit Card to make online purchases.
3. BPI Direct
Account name: Express Teller Savings
Lowest Initial Deposit: P500
Required minimum maintaining balance: P500
When I was still a fresh college graduate, this is the bank account that I opened. I still have it now for my emergency fund.
The best part about BPI Direct is that it’s just like a BPI ATM card, only it’s better because it has lower initial deposit and you do paperless transactions because it’s purely online!
4. Landbank
Account name: ATM Savings Account
Lowest Initial Deposit: P500
Required minimum maintaining balance: P500
With ATM card at any Expressnet, Megalink and Bancnet ATMs
5. BPI Family Savings Bank
Account name: Express Teller Savings
Lowest Initial Deposit: P500
Required minimum maintaining balance: P1,000
Interested in bank accounts with NO maintaining balance? Here are the best savings accounts with no maintaining balance in the Philippines.
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