8 Banks That Allow You To Open An Account Online

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Opening a savings account is much easier as banks now allow applications without stepping into one of their branches. Don't have time to go and queue in the bank and fill out some application forms? Check out the list below of banks where you can open a savings account online.

Unionbank of the Philippines (UBP)

How-Tos:

Online account opening must be done through the Unionbank mobile app.


Download the app in Google Playstore, Apple App Store, or Huawei AppGallery.


Must-Knows:

Minimum Initial Deposit        None
Minimum MADB Requirement        Php 0.00 - Php 25,000*
Minimum Balance to Earn Interest        Php 10,000.00 - Php 100,000*
Gross Interest Rate Per Annum        0.10%

*maintaining balance and balance to earn interest may vary depending on the type of savings/account you apply for.


Bank of the Philippine Islands (BPI)

How-Tos

Online account opening must be done through the BPI mobile app.


Download the app in Google Playstore, or Apple App Store.


Must-Knows:

You can apply for the following savings account through the BPI app:

Regular Savings with Debit Card or Saver Plus with Debit Card


Regular Savings with Debit Card

Minimum Initial Deposit        Php 3,000.00
Minimum MADB Requirement        Php 3,000.00
Minimum Balance to Earn Interest        Php 5,000.00


Saver Plus with Debit Card

Minimum Initial Deposit        Php 50,000.00
Minimum MADB Requirement        Php 50,000.00
Minimum Balance to Earn Interest        Php 50,000.00
Two (2) Free withdrawals per month and a Php18 fee on the third and succeeding withdrawals within a month.

Banco de Oro (BDO)

How-Tos

The online application requires that you fill out an online form and upload two valid IDs. You need to meet with a BDO customer representative for profile verification and make an initial deposit to your account.


Start your application here.


Must-Knows:

Minimum Initial Deposit        Php 2,000.00
Minimum MADB Requirement        Php 2,000.00
Minimum Balance to Earn Interest        Php 5,000.00
Gross Interest Rate Per Annum        0.0625%
Account Closure        Php 300
Falling Below Minimum Balance         Php 300
Account Dormancy         Php 30
Withholding Tax for Interest Earned        20%

Landbank

How-Tos

Filling out of the application form must be done through the Landbank website, however, you must visit the branch to make your initial deposit and present your Valid ID to complete the application.


Start your application here.


Must-Knows:

Minimum Initial Deposit        Php 500.00
Minimum MADB Requirement        Php 500.00
Minimum Balance to Earn Interest        Php 2,000.00
Gross Interest Rate Per Annum        0.05%
Account Closure        Php 300
Falling Below Minimum Balance         Php 200/month
Account Dormancy         Php 30/month


Eastwest Bank 

How-Tos

You must fill out an application form and email it to Eastwest Bank with a copy of your valid ID and a proof of billing under your name and address to easyway@eastwestbanker.com. Wait for their reply confirming that your debit/savings card is ready to be claimed. 


Must-Knows

Minimum Initial Deposit        Php 2,000.00
Minimum MADB Requirement        Php 2,000.00
Minimum Balance to Earn Interest        Php 10,000.00
Gross Interest Rate Per Annum        0.125%
Account Dormancy         Php 30* per month


*Applied to dormant accounts 5 years and above AND balance falls below the minimum monthly ADB)


Philippine National Bank (PNB)

How-Tos

You must complete the online application through the PNB website.


Must-Knows:

Minimum Initial Deposit        Php 3,000.00
Minimum MADB Requirement        Php 3,000.00
Minimum Balance to Earn Interest        Php 10,000.00
Gross Interest Rate Per Annum        0.100%
Maximum Account Balance        Php 100,000 to be lifted upon the claim of debit card


Security Bank

How-Tos

You must complete the online application through the Security Bank website. Depending on which savings product you decide to get, initial deposit amount and monthly minimum maintaining balance will vary. You may check all features of Security savings accounts and high-interest accounts on the Security Bank website. TIN is required during the online application.


Must-Knows:

Minimum Initial Deposit        Php 5,000.00 to Php 50,000
Minimum MADB Requirement        Php 5,000.00 to Php 25,000
Minimum Balance to Earn Interest        Php 10,000.00
Gross Interest Rate Per Annum        0.10%


Philippine Savings Bank (PSBank)

How-Tos:

PSBank account holders and non-account holders can open an account through the PSBank mobile app. 

Must-Knows:

Minimum Initial Deposit        Php 2,000.00
Minimum MADB Requirement        Php 2,000.00
Minimum Balance to Earn Interest        Php 5,000.00
Gross Interest Rate Per Annum        based on prevailing interest rates
Withdrawal Fee                                      Free in PSBank ATMs ; Php 7.50 in Metrobank ATMs

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