How to Apply for BPI Savings Account
The Bank of the Philippine Islands (BPI) is one of the most trusted banks in the Philippines. They have been around for decades.
If you want to open or apply for a BPI savings account, all you need to do is go to a BPI branch near you and bring the following requirements:
- two valid ID’s
- two 2 x 2 photos
- billing statement to verify your billing address
For your valid ID’s, you can use any of the following:
Professional Regulations Commission (PRC) ID, driver’s license, passport, postal ID, voter’s ID, National Bureau of Investigation (NBI) clearance, barangay certification, Social Security System (SSS) card, Government Service and Insurance System (GSIS) e-card, PhilHealth card, OFW ID, Overseas Workers Welfare Administration (OWWA) ID, senior citizen card, seaman’s book, or any other government-issued ID’s.
For your billing statement, you can use your recent electric bill, water bill, telephone bill, or credit card bill.
Your billing statement does not necessarily need to be in your name. It can be in anyone’s name, as long as the address indicated in the bill is the same address that you are using for your account.
Once your requirements are complete and ready, you can present them to the teller. Inform the teller that you want to open a BPI savings account.
Types of BPI Savings Accounts
There are different types of BPI savings account that you can choose from. Here are some of them:
BPI Easy Saver
The great thing about this account is that it only requires Php 200 as your initial deposit and it does not require any maintaining balance.
It works as a regular savings account and can even be enrolled in BPI online banking.
It has an ATM card that you can use anywhere.
However, you will be charged a Php 5 fee each time you withdraw from an ATM; a Php 100 fee each time you withdraw over the counter; and Php 50 for the Express Teller card.
BPI Express Teller Savings
It lets you access any BPI ATM nationwide as well as use it as a debit card whenever you go shopping or dining.
It can be enrolled in BPI online banking too.
You can use it to pay over 200 merchants and even reload your cellphones and prepaid cards.
To apply for this account, you need to make an initial deposit of Php 500 and maintain at least Php 3,000 in your account every month.
If you want to earn an interest rate of 0.250% per year, you need to maintain at least Php 5,000 in your account.
BPI Passbook Savings
This account is ideal if you prefer to have a passbook for record-keeping.
To apply for it, you need to make an initial deposit of Php10,000 and have a maintaining balance of at least Php10,000 per month.
If you want to earn an interest rate of 0.250% per year, you need to maintain at least Php 25,000 in your account.
Aside from these, you can also choose from:
- Advance Savings, which lets you have the interest of your deposit ahead of time;
- Save-Up, which automatically saves your money every month;
- Maxi-Saver, which allows you to earn more as you save more;
- Pamana Savings Account with Free Life Insurance, which lets you save money and benefit from a life insurance that is three times worth your account balance; and
- Foreign Currency, which lets your US dollars, euros, or any other foreign currency grow.
- If you have children, you can open up accounts for them under Jumpstart Savings, which is especially designed for youngsters who are 10 to 17 years old.
To help you decide on what BPI Savings Account to apply for, list down your goals first.
Where will you use it for? How often? Are you after its interest earnings? Or are you going to use it to save your hard-earned money?
Once you know the purpose of of this account, it would be easier for you to choose the type of account that will fit your needs.