Product Features
Minimum Initial Deposit
₱ 5,000
Maintaining Balance
₱ 5,000
Interest Earning Balance
₱ 10,000
Interest Rate
0.125% p.a
Banking Fees and Charges
Withholding Tax
20%
Dormancy Charge
₱ 30.00 per month
(Applied to dormant accounts 5 years and above and balance falls bellow the minimum monthly ADB)
Other Features
Fund Access
- EastWest Online and Mobile Banking
- Local ATMs and VIsa Plus ATMs Worldwide
- Visa-accredited online merchants worldwide
- Visa-accepting online merchants globally
- Over-The-Counter
Transaction Record
- Online Bank Statement
At least one (1) un-expired Identification Document (ID) with photo and signature
List of Accepted IDs
- Philippine Identification – PhilID
- Passport
- Driver’s License
- Professional Regulations Commission (PRC) ID
- National Bureau of Investigation (NBI) Clearance (Digitized)
- Postal ID (Digitized)
- Tax Identification Number (TIN) (Digitized)
- Government Service Insurance System (GSIS) e-Card
- Social Security System (SSS) Card
- Senior Citizen Card
- Overseas Workers Welfare Administration (OWWA) ID
- OFW ID
- Seaman’s Book
- Professional ID cards issued by the Maritime Industry Authority (MARINA)
- Government Office and GOCC ID e.g. Armed Forces of the Philippines (AF ID), Home Development Mutual Fund (HDMF ID)
- Certificate from the National Council for the Welfare of Disabled Persons (NCWDP)
- ID issued by the National Council on Disability Affairs (NCDA)
- Unified Multi-Purpose ID Department of Social Welfare and Development (DSWD) Certification
- Integrated Bar of the Philippines
- Company IDs issued by private entities for institutions registered with or supervised or regulated either by the BSP, SEC or IC
- Other identification document that can be verified using reliable, independent source documents, data, or information
- Proof of billing (under your name & home address)
- Presentation of additional documents for:
Minors
- Original and clear copy of NSO Birth Certificate
- For Guardian or Administrator, or original and clear copy of the Court Order appointing them
Tax-Exempt Individuals
- Notarized Tax Exemption Affidavit executed by the applicant/depositor
- Certification of Tax Exemption issued by Revenue District Office (RDO)
Non-Resident individual and OFW
- Passport
- Alien Certificate of Registration (ACR), Immigrant Certificate of Registration (ICR) for non-citizen of the Philippines
- Contract of Employment for Philippine citizens
Frequently Asked Questions
It's a basic account for storing money and earning minimal interest for short-term goals.
Visit a bank branch or apply online with personal identification and an initial deposit.
Typically, banks require a small balance, such as Php1250, to maintain the account.
Some accoutns have maintenance fees; check with the bank for specific details.
Yes, most savings accounts allow withdrawals, but there might be limits or penalties for excessive withdrawals.
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