Thinking of opening a bank account but not sure which to choose from? If you are a pensioner, a student, a person who regularly receives money through bank remittances or just starting out to save, you may consider opening a bank account with low initial deposit and low maintaining balance requirement. With this, you can keep your savings accounts without fear of having your account closed. In case you needed money, you can withdraw a bigger amount and leave a zero or small amount for the maintaining balance required. I searched and made a list of Philippine banks with the lowest initial deposit and maintaining balance requirement, which you can find below:


Bank Account Initial Deposit Maintaining Balance Balance to Earn Interest Interest
BDO Direct Deposit 0 0 5,000 0.25%
China Bank Easi-Save Basic 0 0 1,000 0.50%
East West Basic Savings 100 100 500 0.25%
PNB Direct Deposit 100 100 500 0.25%
Equicom ATM Savings 100 100 5,000 0.50%
BPI Easy Saver 200 0 1,000 0.25%
Landbank ATM Savings 500 500 500 0.25%
China Bank Easi-Save 500 500 1,000 0.50%

BDO Peso Direct Deposit

BDO Peso Direct Deposit requires no initial deposit required and no maintaining balance. However, for the account to earn interest an average daily balance of P5,000 is required. If the account is closed within 30 days, P300 is charged.

China Bank Easi-Save Basic

Easi-Save Basic is a peso-denominated ATM savings account with no initial deposit and balance requirement. It comes with an ATM card and statement of account (SOA) for account monitoring. The account may be accessed through China Bank Savings’ electronic banking channels: ATM, Phone Banking, Online Internet and Mobile Banking, as well as Bancnet Online and Bancnet POS terminals. There is no initial deposit and maintaining balance for Easi-Save Basic. However, there is a one hundred pesos (P100.00) activation fee. Also, if you are able to maintain a minimum monthly average daily balance (ADB) of one thousand pesos (P1,000.00), your money earns interest. The minimum withdrawal amount is one hundred pesos (P100.00) and maximum withdrawal amount is twenty thousand pesos (P20,000.00).

East West Basic Savings Account

EastWest Basic Savings account is the lightest savings account offering from EastWest. You can open an account for an initial deposit of only P100. It will earn interest upon reaching P500 on your deposits. It also comes with a Visa Debit Card which gives you access to your account, 24/7 with any Bancnet partner ATM or VISA accepted POS terminal. This can also be used to make online purchases.

BPI Easy Saver Savings Account (ATM)

Initial deposit required is Php200. There is no monthly maintaining balance required but to earn interest an average daily balance of P1,000 is required. Withdrawal fees are as follows:

     - PHP  5* per withdrawal in any BPI Express Teller ATMs.
     - PHP 50 for the Express Teller Card fee.
     - PHP 100  for withdrawals done over-the-counter in any BPI Branch.
     *other customer-initiated debits (OTC, EPS, and/or 24/7 banking channels)

PNB Direct Deposit Program (Passbook)

The PNB Direct Deposit Program is a service wherein the pension/benefit payments of the pensioners/beneficiaries of the US Federal Agencies are directly credited to their accounts maintained with any PNB domestic branch nationwide. Available in Peso or Dollar currency. Initial deposit as well as maintaining balance required is P500. Minimum balance to earn interest is P5,000.00.

Equicom ATM Savings Account

Equicom ATM Savings Account requires an initial deposit and maintaining balance of P100 only. Minimum balance to earn interest is P5,000.00 with interest of 0.50% per annum. Withdraw as much as Php5,000 per transaction, and up to Php50,000 withdrawal per day. The ATM card can also be used to shop, dine and pay bills at Visa establishments worldwide.

Landbank ATM Savings Account 

An interest bearing peso savings account wherein deposits transactions are done over the counter, while withdrawal transaction are done via Automated Teller Machines (ATM) 24 hours a day, seven days a week. Deposit and withdrawal transactions may also be done over-the-counter but only during official banking hours/days. ATM withdrawals may also be made at any Expressnet, Megalink and Bancnet ATMs. Maximum withdrawable amount per day is P50,000.

China Bank Easi-Save (ATM or Passbook)

Easi-Save ATM Account is a peso-denominated, deposit account with an ATM card. The account may be accessed through China Bank Savings’ electronic banking channels: ATM, Phone Banking, Online Internet and Mobile Banking as well as Bancnet Online and Bancnet POS terminals. Easi-Save Passbook is a basic, peso-denominated, deposit account for clients who want to document daily transactions. It comes with a passbook for easy monitoring. The Easi-Save passbook should be presented when making a deposit or withdrawal. Both China Bank Easi-Save ATM or Passbook account requires an initial deposit and maintaining balance of P500 and P1,000 average daily balance to earn interest.