Bank Accounts With Low or Zero Maintaining Balance in the Philippines (2026 Guide)
The BSP Basic Deposit Account caps you at PHP 100,000 with zero maintaining balance, and digital banks like CIMB and Maya now offer better rates with no minimums. Here is what actually works in 2026.
Key takeaways
If you have been holding off opening a savings account because of maintaining-balance penalties, the 2026 landscape is friendlier than it has ever been. The Bangko Sentral ng Pilipinas (BSP) Basic Deposit Account framework forces every supervised bank to offer a no-maintaining option, and digital banks have piled on with zero-fee accounts that actually pay interest. This guide walks through what is currently available, what the catches are, and how to choose.
The BSP Basic Deposit Account: the floor every bank must offer
Under BSP Circular 992, every supervised bank in the Philippines must offer a Basic Deposit Account (BDA). The rules are uniform across institutions. You need PHP 100 or less to open, PHP 0 maintaining balance, no dormancy charges, and a running balance cap of PHP 100,000. If your balance crosses PHP 100,000 for six consecutive months, the bank can convert the account to a regular savings product (with its own maintaining requirement).
BDO, BPI, Metrobank, Landbank, and most rural banks all offer a BDA variant. BDO Basic Deposit can be opened in-app or in branch with one valid ID. It is the right choice if you want a brick-and-mortar bank, a passbook or a debit card, and no monthly fee, and you do not expect to exceed PHP 100,000.
The limitation is real. A BDA is not a savings vehicle. Interest is typically 0.0625% to 0.10% per annum, and the PHP 100,000 cap means it cannot absorb a large emergency fund. Treat it as a transactional account.
No-maintaining digital banks worth comparing
Four digital-first options dominate the no-maintaining segment in 2026. They differ sharply on interest rate, withdrawal friction, and how aggressively they market promo rates.
CIMB UpSave
CIMB Bank Philippines offers UpSave at 2.50% per annum, with PHP 0 to open and PHP 0 to maintain. Interest is credited monthly and there are no conditions tied to spend or salary credit. CIMB is a fully digital bank with no branches, so cash-in goes through partner channels (7-Eleven, Bayad Centers, InstaPay transfers in). For someone who wants a parking spot for an emergency fund without any games, UpSave is the cleanest option on the list.
Maya Savings
Maya Savings advertises rates up to 15% per annum on the first PHP 100,000, which is the loudest number in the category. Here is the honest reading. The base rate is 3.0% per annum, and the higher tiers require hitting monthly spend or transaction conditions on the Maya wallet and card. If you already use Maya for daily spend, the boost is achievable. If you do not, you will earn the base rate, which is still competitive. Maya is also PDIC-insured.
UnionBank Online Savings
UnionBank Online Savings is opened entirely in the UnionBank app with PHP 0 to open and PHP 0 to maintain. The trade-off is interest. Expect roughly 0.10% per annum, near the floor of the market. Choose this if you want a UnionBank ecosystem account (their debit card, transfers, bills) rather than a yield product.
RCBC OneAccount iSave
RCBC OneAccount iSave has PHP 0 initial deposit and PHP 0 maintaining, with tiered interest of 0.15% to 0.20% per annum. It is mainly useful as a secondary RCBC account, not as a savings driver.
How to choose
Decide on the role of the account first. For day-to-day transactional cash where you want a physical bank, use a BDA from BDO, BPI, or Metrobank. For an emergency fund or savings buffer where you want interest with no strings, use CIMB UpSave. If you live inside the Maya ecosystem, Maya Savings will pay you more than CIMB, but only if you actually hit the boost conditions; otherwise the 3.0% base is the realistic number. UnionBank and RCBC entries are for people who already bank with those institutions.
What about prepaid cards?
The PH prepaid-card landscape changed sharply in 2024 and 2025. UnionBank EON Prepaid Visa was discontinued on July 22, 2024. BPI Amore Prepaid Visa was discontinued on December 27, 2024. RCBC MyWallet was discontinued on November 11, 2024. BDO Cash Card was discontinued in March 2025. If you are reading an older guide that recommends any of these, ignore it.
Currently available prepaid cards in 2026 are Maya Mastercard (PHP 0 annual fee, free virtual and physical card), GCash Mastercard (PHP 0 annual but PHP 250 one-time issuance plus shipping), PSBank Prepaid Mastercard, and BDO Pay Card, which replaced the Cash Card.
Deposit insurance and the bottom line
All accounts mentioned here are insured by the Philippine Deposit Insurance Corporation (PDIC) up to PHP 500,000 per depositor, per bank. If you hold more than that, split across institutions. For most readers, the practical 2026 setup is a BDA at a traditional bank for transactions and a CIMB UpSave or Maya Savings account for the actual cash buffer.
One unrelated 2026 update worth noting if you are also setting up online payments: PayPal verification for PH accounts now uses a PHP 100 refundable charge (not the old USD 1.95 or PHP 110 figure floating around in older guides). The code is still 4 digits and clears in 2 to 3 business days.