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Different Bank Accounts for Children & Youngsters Under Eighteen

Here are some savings accounts designed by banks especially for children & teens under the age of eighteen…

BANCO DE ORO BDO

BDO Junior Savers Club

  • Minimum initial deposit is 500 pesos
  • Maintaining average daily balance is 100
  • Minimum balance to earn interest is 500
  • Annual interest rate is 0.5%, subject to withholding tax
  • Specially designed passbook
  • buying card to be used at SM Department Stores and online stores
  • ATM card to get children 7 years to 12 years older, with equilibrium of 2,000 pesos or more
  • ID card to get children 6 years of age and younger

BDO Power Teens Club

  • For children older than 12 years aged around 19 years older
  • Minimum initial deposit is 2,000 pesos
  • Minimum average daily balance is 2,000
  • Minimum balance to earn interest is 2,000
  • Annual interest rate is 0.5%, subject to withholding tax
  • Specially designed passbook
  • ATM card, that may likewise be utilized as purchasing card in SM Department Stores and online stores
  • Particular discounts at chosen affiliate stores
BANK OF THE PHILIPPINE ISLANDS and BPI FAMILY

BPI Family Jumpstart Savings

  • For kids 10 to 17 years old
  • That can be an ATM savings accounts
  • Minimum initial deposit is 500 pesos
  • Maintaining average daily balance is
    • 500 to get a BPI Family accounts – 1,000 to get a BPI accounts
  • Minimum average daily balance to earn interest will be:
    • 1,000 to get a BPI Family accounts – 2,000 to get a BPI accounts

Annual interest rate is currently 0.625% to get BPI Household and 0.5% to get BPI

  • Free 4 withdrawals per month (for regulated paying )
  • Could set aside a Secured Savings sum, which you cannoteasily draw and you’re able to utilize only when actually necessary
  • Can place regular automated fund transfer in parents’ BPI accounts
  • ATM may be utilized as purchasing card in BPI Express Payment System (EPS) shops
  • Particular discounts at chosen EPS stores
  • may be utilized to reload cellphones through BPI ATM, BPI telephone 89-100, BPI Express Mobile, or even BPI Online Banking.
METROBANK

Metrobank Fun Savers Club

  • For children under 18 years old
  • Minimum initial deposit is 500 pesos
  • Maintaining average daily balance is 500 pesos
  • Minimum ADB to make attention is 4,000
  • Welcome present given at launch of consideration
  • Free instructional trust advantage worth 50,000 for account attaining minimum average daily balance (ADB)
  • Free private injury insurance value double the average daily balance for balances attaining
  • minimal ADB (around 1 million pesos)

Special discounts at online affiliate stores

For parents, grandparents, other relatives, friends, ninongs and ninangs:

– You also are able to promote saving in a kid you love.

– You now can buy a more Fun Savers Club present check in any Metrobank branch afresh to get no less than 500 pesos. This present test is available to everybody whether Metrobank depositor or never.

– Your planned receiver ought to be more than 18.

– This present check is going to be employed by your receiver to start an Metrobank Fun Savers Club or add to his/her present Fun Savers Club account.

RCBC SAVINGS BANK

RCBC WISE Savings Account

WISE signifies Wise Investors Save Historical

  • For kids 7 to 14 years old
  • For children younger than seven, parents could start a smart accounts within a In-Trust-For (ITF) accounts
  • Minimum initial deposit is 500 pesos
  • Maintaining equilibrium is 1,000
  • Balance to earn interest is 5,000
  • Annual rate of interest of 0.5%, subject to the 20% withholding taxation
  • Could be only a passbook accounts, or a passbook accounts with ATM
  • Complimentary one-piece private injury insurance value 20,000 pesos per for child and parent upon
  • opening a smart account with an initial deposit of 1,000 pesos and together with all the parent 65
  • years old or under
  • Could be set for automatic fund transfer in parents’ present RCBC Savings Bank accounts.
EASTWESTBANK

EastWest Cool Savers Kiddie Account

  • For youngsters day-old to 18 years old
  • A passbook account
  • Minimum initial deposit is 2,000 pesos
  • Maintaining average daily balance is 2,000
  • Minimum ADB to make attention is 2,000
  • Annual interest rate is 0.5%, subjec to 20% withholding tax
  • Charge for below maintaining balance is 500 pesos per monthinternet shopping, nline shopping, Online Purchasing, Internet buying, Online banking, debit card, credit card,online banking, shopping, www.shopbycards.com, globe banko, banko, banko account
  • Charge for two-year dormancy is 500 pesos per month

UCPB

UCPB Kiddie Max Account

  • For children 0 to 18 years old
  • Passbook or ATM card
  • Minimum initial deposit is 500 pesos
  • Minimum ADB to earn interest is 10,000 pesos
  • Annual interest rate is 0.25%
  • Fund transfers from parents’ UCPB accounts via Internet or phone banking
  • DEVELOPMENT BANK OF THE PHILIPPINES DBP
DBP Young Earners’ Savings Accounts (YES)
  • for Children ages 12 Decades and below
  • Minimum initial deposit of 500 pesos

DBP In Trust For (ITF) Savings

Opened by parents in behalf of their children younger than 18 years old

MAYBANK PHILIPPINES

Maybank IM Teen Savings Account

  • For teenagers between the ages of 13 to 17 years old
  • (below 18 years old, as posted in their other ads
  • Minimum ADB is 500 pesos
  • Minimum ADB to earn interest is 5,000
  • Annual interest rate is

-0.5% for ADB from 5k to 199,999 – 1% for ADB 200k and above – subject to 20% withholding tax

  • Choice to Have a free ATM card
  • With personal accident insurance and medical reimbursement benefit

Maybank Yippie Savings Account

  • For kids 12 years old and younger
  • Same requirements and benefits as above IM Teen Savings Account
STANDARD CHARTERED BANK

Standard Chartered DreamSavers Account

For Kids

Annual interest rates of:

– 1.4% for balances 25k to 500k

– 1.6% for 500k to 1M

– 2.2% for 1M to 5M

– 2.3% for 5M to 10M

– 2.5% for 10M and above

Requirements are:

– one valid unexpired Main photo ID, original and clear xerox copy

– student ID should bear signature of school head

– proof of address like bill, mail, subdivision ID or barangay certificate with seal

– birth certificate

ROBINSONSBANK

RobinsonsBank Tykecoon Kiddie Savings Account

  • Minimum initial deposit is 2,000 pesos
  • Maintaining average daily balance is 2,000
  • Minimum ADB to earn interest is 2,000
  • Annual interest rate is 0.5%, credited monthly, subject to 20% withholding tax
CITYSTATE SAVINGS BANK

Citystate Student Savers Account

  • For children 7 to 21 years old
  • Minimum initial deposit is 100 pesos
  • Maintaining average daily balance is 100
  • Minimum ADB to earn interest is 500
  • Interest credited monthly
PHILIPPINE BUSINESS BANK

Philippine Business Bank Campus Savers

For students from elementary to college

  • Passbook account
  • Minimum initial deposit is 100 pesos
  • Maintaining average daily balance is 100 pesos
  • Minimum ADB to earn interest is 500
  • Annual interest rate is 0.25%, credited quarterly
PREMIERE DEVELOPMENT BANK

Premiere Young Savers

  • for Kids from 7 to 17 years old
  • Passbook or ATM account
  • Minimum initial deposit is 500 pesos
  • Maintaining average daily balance is 500
  • ATM card customized with the child’s photo or memorable event
  • Fund transfers from parents’ Premiere accounts
Basic requirements for openning the above-mention kiddy accounts

Kids from the Philippines that are 7 years old and that can write and read can lawfully open economies and time deposit accounts, deposit and draw, with their own signatures and names, based on Presidential Decree No. 734, issued in 1975.

The most usual requirements required to start savings account for your kids are just one or more of the next. In case you’ve got them, simply bring all them, in the event the bank officers request them.

  • Occupational certification of your kid (That really is the Number One necessity, and may be the only real requirement in certain banks)
  • School ID or registration card, for pupils
  • Pictures of kid, typically two 1×1 photos, just if
  • Parent’s IDs and photographs to get In-Trust-For accounts for younger kids
  • Baptismal certificate, only if
  • Proof of speech, just if could be a current utility bill or credit card invoice

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