Apart from the standard BPI savings bank, BPI also has two subsidiaries–BPI Family Savings Bank and BPI Direct Savings Bank, each of which offers 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
Table of Contents
- At a Glance: Updated List of BPI Savings Accounts
- Watch Video: How To Open BPI Savings Account Online
- 1. BPI Savings Accounts: Features and Deposit Rates
- a. Regular Savings Account
- b. #SaveUp
- c. Jumpstart Savings
- d. Kaya Savings
- e. Maxi-Saver with ATM card
- f. Maxi-Saver with Passbook
- g. Padala Moneyger
- h. Pamana Padala
- i. Pamana Savings Account with ATM card
- j. Pamana Savings Account with Passbook
- k. Passbook Savings
- l. Save-Up Automatic Savings + Insurance
- m. Save-Up High Automatic Savings
- 2. BPI Family Savings Accounts: Features and Deposit Rates
- a. Jumpstart Savings
- b. Maxi-Saver with ATM Card
- c. Maxi-Saver with Passbook
- d. Pamana Padala
- e. Pamana Savings Account with ATM Card
- f. Pamana Savings Account with Passbook
- g. Save-Up Automatic Savings + Insurance
- h. Save-Up Automatic High Savings
- 3. BPI Direct Banko Savings Accounts
- Frequently Asked Questions
- References
At a Glance: Updated List of BPI Savings Accounts
| 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% |
| 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% |
Watch Video: How To Open BPI Savings Account Online
How To Open BPI Savings Account Onl...
1. BPI Savings Accounts: Features and Deposit Rates
a. Regular Savings Account
Key features:
- Savings account that can be used to pay bills to over 200 merchants; purchase online; reload mobile phones and prepaid cards instantly, and transfer money to enrolled accounts.
Ideal for: Anyone who is looking for a convenient and stable way to keep their hard-earned money
Required Initial Deposit: Php 3,0001
Required Minimum Monthly Average Daily Balance: Php 3,000
Interest Rate: 0.0625% (Daily Balance must be Php 5,000)
b. #SaveUp
Key Features:
- All all-digital savings account
- It can be used to transfer funds, pay bills, and load e-cards online
- Provides a higher interest rate than the Regular Savings Account
- Initial account limit of Php 30,000 will be waived after the verification process
Required Initial Deposit: Php 12
Required Daily Balance to Earn Interest: Php 5,000
Interest Rate: 0.0925%
Required Minimum Monthly Average Daily Balance: Php 3,000
c. Jumpstart Savings
Key Features:
- Kiddie ATM savings account for 10 to 17-year-olds
- Allowance transfer facility for scheduled crediting of a child’s allowance to the Jumpstart account
- Debit card be used for cashless payments and cellphone reloading
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-Earning Balance: Php 2,000
d. Kaya Savings
Update: All Kaya Savings Accounts have been converted to Regular Savings Accounts effective January 15, 20214. 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 want to consider BPI Direct Express Teller Savings Account instead.
Key Features:
- No maintaining balance
- Low initial deposit requirement
- Fees apply to every ATM and OTC withdrawal
Ideal for:
- People looking for an easy way to open a savings account
- Fresh graduates, students, housewives, low-income-earners, and unemployed people
Interest Rate: 0.25%
Required Initial Deposit: Php 200
Maintaining Balance: None
Interest-Earning Balance: Php 1,000
e. Maxi-Saver with ATM card
Update: As of June 1, 20215, 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:
- High-interest-earning ATM savings account
- 0.125%
Ideal for: People who want higher interest than regular savings accounts.
Interest Rate: 0.125%
Required Initial Deposit: Php 2,000,000
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
f. Maxi-Saver with Passbook
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:
- High-interest-earning ATM savings account
- 0.125% bonus interest per annum if there is no withdrawal within a month
Ideal for: People who want higher interest than regular savings accounts.
Interest Rate: 0.125%
Required Initial Deposit: Php 2,000,000
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
g. Padala Moneyger
Key Features:
- Allows receiving remittances directly to the bank account
- No required initial deposit and maintaining balance
- Easy to open and maintain
- Required Minimum Monthly Average Daily Balance is Php 0 as long as there are four remittances per year
- No withdrawal fees
Ideal for: Families of OFWs and others (e.g., freelancers) who regularly receive overseas remittances.
Interest Rate: 0.0625%6
Required Initial Deposit: None
Maintaining Balance: Waived for accounts receiving at least four remittances in a year.
Interest-Earning Balance: Php 5,000
h. Pamana Padala
Key Features:
- ATM savings account
- Direct crediting of remittances to Pamana Padala account allows saving on remittance fees
- Allows OFWs to transfer funds to their families BPI account in the Philippines
- Available in Peso or US dollar accounts
- Free Accident Insurance worth Php 100,00 for 90 days
- Free Life Insurance Coverage up to Php 300,000
Ideal for: OFWs looking to manage their remittances to the Philippines easily.
Interest Rate: 0.0625%7
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)
i. Pamana Savings Account with ATM card
Key Features:
- ATM or passbook savings account with complimentary life insurance worth up to Php 2 million
Ideal for: Parents who want to save for their children’s future.
Interest Rate: 0.0625%8
Required Initial Deposit: Php 25,000
Maintaining Balance: Php 25,000
Interest-Earning Balance: Php 25,000
j. Pamana Savings Account with Passbook
Key Features:
- ATM or passbook savings account with complimentary life insurance worth up to Php 2 million
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
k. Passbook Savings
Key Features:
- Easy record-keeping and account monitoring through a passbook
Ideal for: People who want to open a savings account for saving rather than spending.
Interest Rate: 0.0625%9
Required Initial Deposit: Php 10,000
Maintaining Balance: Php 10,000
Interest-Earning Balance: Php 25,000
l. Save-Up Automatic Savings + Insurance
Key Features:
- Automatically transfers a certain amount from an ATM account to Save-Up account monthly
- No initial deposit requirement
- Free accident and life insurance, which are worth five times your average account balance (maximum of Php 2 million).
Ideal for:
- Depositors who want to automate savings from their salary/payroll account
- People who tend to overspend and struggle with saving money
Interest Rate: 0.0625%10
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
m. Save-Up High Automatic Savings
Key Features:
- Automatically transfers a certain amount from an ATM account to Save-Up account monthly
- No initial deposit requirement
Ideal for:
- Depositors who want to automate savings from their salary/payroll account
- People who tend to overspend and struggle with saving money
Interest Rate: 0.0625%
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
2. BPI Family Savings Accounts: Features and Deposit Rates
Update: Effective January 2022, BPI and BPI Family Savings accounts will be merged into a single entity under the name “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.
a. Jumpstart Savings
Interest Rate: 0.50%
Required Initial Deposit: Php 100
Maintaining Balance: Php 500
Interest-Earning Balance: Php 1,000
b. Maxi-Saver with ATM Card
Interest Rate:
- 0.50% (Php 25,000 – Php 499,999)
- 0.625% (Php 500,000 – Php 999,999)
- 1% (Php 1 million and above)
Required Initial Deposit: Php 2,000,000
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
c. Maxi-Saver with Passbook
Interest Rate:
- 0.50% (Php 50,000 – Php 499,999)
- 0.625% (Php 500,000 – Php 999,999)
- 1% (Php 1 million and above)
Required Initial Deposit: Php 2,000,00011
Maintaining Balance: Php 2,000,000
Interest-Earning Balance: Php 2,000,000
d. Pamana Padala
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
e. Pamana Savings Account with ATM Card
Interest Rate: 0.50%
Required Initial Deposit: Php 5,000
Maintaining Balance: Php 5,000
Interest-Earning Balance: Php 10,000
f. Pamana Savings Account with Passbook
Interest Rate: 0.50%
Required Initial Deposit: Php 50,000
Maintaining Balance: Php 50,000
Interest-Earning Balance: Php 50,000
g. Save-Up Automatic Savings + Insurance
Interest Rate: 0.0625%
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
h. Save-Up Automatic High Savings
Interest Rate: 0.0625% per annum
Required Initial Deposit: None
Maintaining Balance: Php 1,000
Interest-Earning Balance: Php 5,000
3. BPI Direct Banko Savings Accounts
BPI Direct BanKo (or BPI BanKo) was formed from the merger12 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 which 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.
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Opening a PondoKO account is as easy as 1,2,3. Here are the steps:
- Download the BPI BanKo Mobile App via Google Playstore.
- Click Not yet registered? Register now and select the I am a new customer button.
- Read the agree with the Terms and Conditions.
- Upload a valid ID and take a selfie.
- Nominate a username and password.
- Verify your application and submit it for approval. Afterward, nominate a 6-digit MPIN that you will use every time you log in to your account.
- You will receive a text message containing your KYC Reference Number. Proceed to the nearest BPI BanKo branch and present your KYC Reference Number and ID for verification.
- Deposit at least Php 50 or Php 200 to get a PondoKo debit card.
For more information about the BPI BanKo’s PondoKo savings account, kindly refer here.
Frequently Asked Questions
1. I’ve read that a BPI account only has an initial deposit requirement of Php 1. However, BPI also said that I must have at least a maintaining balance of Php 3000. What does it mean?
Technically, you can open a BPI #SaveUp Account for as low as Php 1 (as shown on their website). However, it doesn’t mean that 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.
2. Is BPI Direct Savings the same as BPI Direct BanKo Savings?
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.
3. Can I use a Barangay Certificate to open a BPI Savings account?
For most BPI Savings accounts, Barangay Certificate is not accepted as a valid ID for opening an account. It is advisable to get a passport, driver’s license, or National ID instead of a Barangay Certificate. However, if you are opening a PondoKo account (a BPI Direct BanKo savings account and not a BPI savings account), Barangay Certificate will do.
4. How much will it cost to open 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).
Go back to the main article: How to Open a BPI Savings Account: An Ultimate Guide
References
- Regular Savings. Retrieved 23 November 2021, from https://www.bpi.com.ph/bank/savings/regular-savings
- #SaveUp. Retrieved 23 November 2021, from https://www.bpi.com.ph/bank/savings/digital-saveup
- Jumpstart. Retrieved 23 November 2021, from https://www.bpi.com.ph/bank/savings/jumpstart
- Advisory on Kaya Savings. (2020). Retrieved 23 November 2021, from https://www.bpi.com.ph/announcements/kaya-savings
- Enrolled in BPI Maxi-Saver? By June, your minimum balance should be P2 million. (2021). Retrieved 23 November 2021, from https://news.abs-cbn.com/business/04/15/21/bpi-bank-maxi-savers-minimum-daily-balance-2-million-effective-june-1-2021
- Padala Moneyger. Retrieved 23 November 2021, from https://www.bpi.com.ph/padalamoneyger
- Padala Moneyger. Retrieved 23 November 2021, from https://www.bpi.com.ph/padalamoneyger
- Deposit Updates. (2021). Retrieved 23 November 2021, from https://www.bpi.com.ph/announcements/deposit-updates
- Passbook. Retrieved 23 November 2021, from https://www.bpi.com.ph/bank/savings/passbook
- Save-Up. Retrieved 23 November 2021, from https://www.bpi.com.ph/bank/savings/save-up
- BPI Family Deposit Accounts – Savings Accounts. Retrieved 23 November 2021, from https://www.bpiloans.com/pages?page=bpi-family-deposit-accounts-savings-accounts
- About Us (BPI BanKo). Retrieved 23 November 2021, from http://www.banko.com.ph/about-us/
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