Apart from the standard BPI savings bank, BPI also has two subsidiaries–BPI Family Savings Bank and BPI Direct Savings Bank, each offering its own savings products. BPI Family Savings is the largest thrift bank in the Philippines, while BPI Direct is a virtual bank that operates only on the Internet and over the phone. The list below summarizes all the features and deposit rates of different BPI account types. Update: In early 2020, BPI decided to absorb its thrift bank arm, BPI Family Savings, to create “One BPI.” However, the said merger is still subject to the stakeholders’ approval and won’t be complete until January 1, 2022. For more information, read this. Return to the main article: How to Open a BPI Savings Account: An Ultimate Guide
The BPI account types listed below are arranged according to the amount of the required initial deposit (from lowest to highest).
| BPI Savings Account | Required Initial Deposit | Interest Rate (per annum) |
| Save-Up High Automatic Savings | Php 0 | 0.0625% |
| Save-Up Automatic Savings + Insurance | Php 0 | 0.0625% |
| Padala Moneyger | Php 0 | 0.0625% |
| #Saveup | Php 1 | 0.0925% |
| Jumpstart Savings | Php 100 | 0.0625% |
| PondoKo (Under BPI Direct Banko) | Php 50 or Php 200 | 0.35% |
| Pamana Padala | Php 500 | 0.0625% |
| Regular Savings Account | Php 3,000 | 0.0625% |
| Passbook Savings | Php 10,000 | 0.0625% |
| Pamana Savings Account with ATM card | Ph 25,000 | 0.0625% |
| Pamana Savings Account with Passbook | Php 75,000 | 0.0625% |
| Maxi-Saver with ATM card | Php 2,000,000 | 0.125% |
| Maxi-Saver with Passbook | Php 2,000,000 | 0.125% |
Ideal for: Anyone who is looking for a convenient and stable way to keep their hard-earned money
Required Initial Deposit: Php 3,000 1
Required Minimum Monthly Average Daily Balance: Php 3,000
Interest Rate: 0.0625% (Daily Balance must be Php 5,000)
Key Features:
Required Initial Deposit: Php 1 2
Required Daily Balance to Earn Interest: Php 5,000
Interest Rate: 0.0925%
Required Minimum Monthly Average Daily Balance: Php 3,000
Key Features:
Ideal for: Children and teens (10 – 17 years old) whose parents want them to develop the habit of saving early.
Interest Rate: 0.0625% 3
Required Initial Deposit: Php 100
Maintaining Balance: Php 1,000
Interest Rate: 0.0625%
Interest-Earning Balance: Php 2,000
Update: All Kaya Savings Accounts have been converted to Regular Savings Accounts effective January 15, 2021 4 . Therefore, new account holders will no longer enjoy the zero maintaining balance and low initial deposit requirement that Kaya Savings used to offer. A Regular Savings Account requires an initial deposit of Php 3,000 and a minimum monthly ADB of the same amount. Suppose you’re looking for a savings account with a low maintaining balance and initial deposit requirement from the same bank. In that case, you may consider BPI Direct Express Teller Savings Account instead.
Key Features:
Ideal for:
Interest Rate: 0.25%
Required Initial Deposit: Php 200
Maintaining Balance: None
Interest-Earning Balance: Php 1,000
Update: As of June 1, 2021 5 , all BPI Maxi-Saver Savings Accounts (debit card and passbook) must now have an Average Daily Balance of Php 2,000,000 from the previous Php 50,000 and Php 75,000, respectively. Furthermore, the required balance to earn interest is also raised to Php 2,000,000.
Key Features:
Ideal for: People who want higher interest than regular savings accounts.
Interest Rate: 0.125% 6
Required Initial Deposit: Php 2,000,000
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
Update: As stated previously, all BPI Maxi-Saver Savings Accounts (debit card and passbook) must now have an Average Daily Balance of Php 2,000,000 from the previous Php 50,000 and Php 75,000, respectively. Furthermore, the required balance to earn interest is also raised to Php 2,000,000.
Key Features:
Ideal for: People who want higher interest than regular savings accounts.
Interest Rate: 0.125% 7
Required Initial Deposit: Php 2,000,000
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
Key Features:
Ideal for: Families of OFWs and others (e.g., freelancers) who regularly receive overseas remittances.
Interest Rate: 0.0625% 8
Required Initial Deposit: None
Maintaining Balance: Waived for accounts receiving at least four remittances in a year.
Interest-Earning Balance: Php 5,000
Key Features:
Ideal for: OFWs looking to manage their remittances to the Philippines easily.
Interest Rate: 0.0625% 9
Required Initial Deposit: Php 500
Maintaining Balance: Waived for accounts receiving at least four remittances in a year.
Interest-Earning Balance: Php 5,000 (for US Dollar accounts: USD 500)
Key Features:
Ideal for: Parents who want to save for their children’s future.
Interest Rate: 0.0625% 10
Required Initial Deposit: Php 25,000
Maintaining Balance: Php 25,000
Interest-Earning Balance: Php 25,000
Key Features:
Ideal for: Parents who want to save for their children’s future.
Interest Rate: 0.0625%
Required Initial Deposit: Php 75,000
Maintaining Balance: Php 75,000
Interest-Earning Balance: Php 75,000
Key Features:
Ideal for: People who want to open a savings account for saving rather than spending.
Interest Rate: 0.0625% 12
Required Initial Deposit: Php 10,000
Maintaining Balance: Php 10,000
Interest-Earning Balance: Php 25,000
Key Features:
Ideal for:
Interest Rate: 0.0625% 13
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
Key Features:
Ideal for:
Interest Rate: 0.0625%
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
Update: Effective January 2022, BPI and BPI Family Savings accounts will be merged into a single entity named “One BPI,” with BPI as the surviving entity. All BPI Family Savings bank deposit accounts will be subject to the same terms and conditions applicable to similar BPI deposit accounts. For instance, if you have a BPI Family Savings Bank Maxi-Saver account, the terms and conditions will be similar to that of the BPI Maxi-Saver account.
Interest Rate: 0.50%
Required Initial Deposit: Php 100
Maintaining Balance: Php 500
Interest-Earning Balance: Php 1,000
Interest Rate:
Required Initial Deposit: Php 2,000,000
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
Interest Rate:
Required Initial Deposit: Php 2,000,000 15
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
Interest Rate: 0.50%
Required Initial Deposit: Php 500
Maintaining Balance: Waived for accounts receiving at least four remittances in a year.
Interest-Earning Balance: Php 3,000
Interest Rate: 0.50%
Required Initial Deposit: Php 5,000
Maintaining Balance: Php 5,000
Interest-Earning Balance: Php 10,000
Interest Rate: 0.50%
Required Initial Deposit: Php 50,000
Maintaining Balance: Php 50,000
Interest-Earning Balance: Php 50,000
Interest Rate: 0.0625%
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
Interest Rate: 0.0625% per annum
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
BPI Direct BanKo (or BPI BanKo) was formed from the merger 16 between two thrift banks of BPI, namely BPI Direct Savings Bank and BPI (Globe) BanKo.
As of this writing, the only active savings account product of BPI Direct Banko is the PondoKo. You can use a savings account to save money, load prepaid cards, pay bills, and transfer funds through the PondoKo mobile app.
Opening a PondoKo savings account comes with a debit card you can use at any ATM nationwide.
To open a PondoKo account, you need one valid ID (yes, Barangay Certificate is accepted for PondoKO), Php 200 initial deposit, a smartphone, and a stable internet connection.
Opening a PondoKO account is as easy as 1,2,3. Here are the steps:
For more information about the BPI BanKo’s PondoKo savings account, kindly refer here.
Technically, you can open a BPI #SaveUp Account for as low as Php 1 (as shown on their website). However, it doesn’t mean your #SaveUp account must only have a Php 1 balance. BPI #SaveUp requires a minimum Minimum Monthly ADB (Average Daily Balance). You must immediately put funds into your account after creating it. Hence, it would be best to have at least Php 3,000 ready when opening a BPI savings account.
Furthermore, note that the initial deposit requirement for a regular savings account is Php 3,000.
BPI Direct Savings is a former specialized thrift bank of BPI. In 2016, BPI Direct Savings and BPI Globe BanKo were merged, forming what is currently known as BPI Direct BanKo.
As of this writing, BPI Direct BanKo offers PondoKo as a savings account. For more information, kindly visit their official Facebook page or website.
For most BPI Savings accounts, Barangay Certificate is not accepted as a valid ID for opening an account. Getting a passport, driver’s license, or National ID instead of a Barangay Certificate is advisable. However, Barangay Certificate will do if you are opening a PondoKo account (a BPI Direct BanKo savings account and not a BPI savings account).
It depends on what type of BPI Savings account you want to open. For instance, a regular BPI Savings account will cost you at least Php 3,000 (excluding expenses in getting a valid ID for application).
All materials contained on this site are protected by the Republic of the Philippines copyright law and may not be reproduced, distributed, transmitted, displayed, published, or broadcast without the prior written permission of filipiknow.net or in the case of third party materials, the owner of that content. You may not alter or remove any trademark, copyright, or other notice from copies of the content. Be warned that we have already reported and helped terminate several websites and YouTube channels for blatantly stealing our content. If you wish to use filipiknow.net content for commercial purposes, such as for content syndication, etc., please contact us at legal(at)filipiknow(dot)net
