Gone are the days when people with savings accounts are scared to go online. The fear of going to physical banks and ATMs has outweighed the technophobia of downloading their banks’ apps and exploring how to pay bills and buy things while staying home. The unbanked are also beginning to trust and enjoy the benefits of e-commerce. And hopefully, they could realize that there are many banks offering minimal to zero maintaining balance, such as these:


8 Savings Accounts with Zero to Low Maintaining Balance 

1. Maybank

Maybank iSave is fully online and doesn’t require a maintaining balance nor initial deposit! Just sign up on the Maybank2U PH app and submit the requirements. Once your digital savings account is good to go, you’ll get an ATM card with an EMV-chip that you can use across the country and Maybank AMTs in Cambodia, Malaysia, and Singapore, too!

This online account comes with an interest rate of 0.25 percent per annum; an interest-earning balance of P20,000; and a daily withdrawal limit of P50,000.

2. UnionBank

Did you know that UnionBank’s Personal Savings Account has zero maintaining balance? That’s aside from the fact that you can simply apply online and have the ATM card delivered to your address! With an interest rate of 0.10 percent per annum, an interest-earning balance of P10,000, daily withdrawal limit of P20,000, and less transfer fees, this savings account can go a long way. It also comes with a Visa debit card that you can use at any local BancNet ATMs and international Visa ATMs.

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3. ING

Another favorite bank since the pandemic started, ING is a fully digital bank with one of the highest interest rates locally—at 2.5 percent per annum—all while offering similar services as traditional banks, including check deposits. It requires no maintaining balance and you can open an account through ING’s mobile app.

4. China Bank 

The China Bank Easi-Save Basic really earns the “ease” in its name as it features zero maintaining balance and a low initial deposit of P100. This savings account has an annual interest rate of 0.25 percent per annum with a surprisingly low interest-earning balance of P1,000! How easy!


CIMB is famous for its partnership with GCash, but you can also open an online savings account with CIMB alone—in as fast as 10 minutes! And that’s where it got its Fast Account moniker. 

It has interest rates of 0.75 percent per annum and its daily withdrawal and transfer limits are similar to the CIMB Bank Upsave Account. As soon as your balance reaches P100,000, you get a debit card for easier withdrawals. The Fast Account is valid for 12 months, but you can upgrade to a Fast Plus Account later.


Upsave doesn’t require an initial deposit or minimum balance to get started, either. This all-digital savings account also has a whopping 2.5 percent interest rate per annum with withdrawal limits of P20,000 and transfer limits of P50,000.

6. DBP

Did you know that the Development Bank of the Philippines’ (DBP) EC Card Account does not require an initial deposit or a maintaining balance? I wouldn’t have believed it either but it’s true!

You can use the EC Card Account for point of sale or POS transactions as well as withdrawals. The account has an interest rate of 0.10 percent per annum, an interest-earning balance of P500, and a daily withdrawal limit of P 20,000.

7. Tonik 

Dubbed as the first neobank in the Philippines, Tonik Bank is fully digital and has been curated for Filipinos. It’s becoming famous for its Stash which works as “saving pockets” so account holders can separate and store their savings plus mark them according to purpose. 


Solo Stash users can have up to five solo stashes in their account with 4 percent interest per annum, while Group Stash offers as high as 4.5 percent interest per annum. 


Komo is another online bank that offers zero maintaining balance for their savings account. You can easily open a savings account by downloading the mobile app, and because it’s owned and operated by EastWest, you can enjoy free withdrawals at any EastWest ATM across the country! 


6 Digital Banks That Let You Open a Savings Account From Home

Pinays Share Best Digital Banks They've Used and Perks They Enjoy Most

Here's an Easy Way to Invest, Grow Your P1,000

Should You Prioritize Saving or Investing in Your 30s?

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May Dedicatoria is a freelance writer and financial advisor. For free coaching and quotation, email her at maydedicatoria@gmail.com.

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