Why Do Having A Savings Is A Must? [Affordable Bank Savings for Every Juan]

Dear Some-Juan,

You are commended for every hard work and effort you’ve made. For waking up every day, thinking it’s a new day to jumpstart some productivity. For being so courageous to face any difficulties at the workplace, with your family always in your mind.



For every Nanay (Mother) who selfishly give themselves to support the family. For every Tatay (Father) who tirelessly work to provide for the family. And for every Anak (Child) who always hope someday to give back to their parents.

We do it all to support our daily food consumption, for electricity bills, water bills, home expenses, rentals etc. Since then, we try to provide for our needs, and then we’re only left with questions running on our head: “What if one of my family gets sick, where would I get some money? “ “My son/ daughter would take up college soon, how could I support his/ her education?”

 

Affordable banks to open in the Philippines for every Juan

 

Financial security is not a “want” anymore, it’s a need in these times. So while you still have your jobs, or still earning at your “sari-sari store”, and or before any calamity strikes – you need to save up. Well, you can save up on your “alkansya” / bamboo bank/ piggy bank or you may try opening a bank account so your money could earn an interest.

 

Take A Lesson With The Ants

We have always taught this saying since then, I guess it’s time take this now seriously. They’re just small creatures yet they’re prepared for the drought and have their food stored before the flood came.

Went back in the history, ancient civilizations have a habit to store enough food that’s why they’re prepared before any drought came. Well, unlike those times they can read prophecies. Today, we only have weather forecast and inflation rate updates.

Opening a bank account is easy with so many many banks to choose from, you will not be left out. But what’s hassle is if you try to dive into a pool of banks offering some random types of savings without having any idea.

We’ll be happy to give you some list for startups. A list of affordable initial deposits, ranging from no maintaining balance and with interest rates.

 

BPI  (Kaya Savings)

Features : No maintaining balance

Initial Deposit: ₱200

Interest rate: 0.25%

Balance to earn interest: ₱1,000

 

BPI  (Easy Saver)

Features : No maintaining balance

Initial Deposit: ₱200

Interest rate: 0.25%

Balance to earn interest: ₱1,000

 

BPI Direct Savings  (Save-Up Automatic Savings plus Insurance)

Features: Life Insurance

Initial Deposit: ₱0.00

Interest rates: 0.50%

Balance to earn interest: ₱1,000

 

BPI  (Save-Up Automatic Savings plus Insurance)

Features: Life insurance coverage

Initial Deposit: ₱0.00

Interest rates: 0.25%

Balance to earn interest: ₱5,000

 

BPI Family Savings (Express Teller Savings)

Features: 24Hour withdrawal / transaction ATM

Initial Deposit: ₱500

Interest rates: 0.50%

Balance to earn interest: ₱3,000

 

BPI Family Savings (Easy Saver)

Features:

Initial Deposit: ₱200

Interest rates: 0.50%

Balance to earn interest: ₱1,000

 

BPI Family Savings (Jumpstart Savings)

Features:Especially designed for children 10-17y/o

Initial Deposit: ₱100

Interest rates: 0.50%

Balance to earn interest: ₱1,000

 

BPI Family Savings ( Save-Up Automatic Savings plus Insurance)

Features : Life Insurance

Initial Deposit: ₱0.00

Interest rates: 0.50%

Balance to earn interest: ₱3,000

 

BPI Family Savings (Save-Up Automatic High Savings)

Features: Life Insurance up to 5× your savings account balance

Initial Deposit: ₱0.00

Interest rates: 0.50%

Balance to earn: ₱3,000

 

EQUICOM Savings Bank (Kiddie Builders Savings Account)

Initial Deposit: ₱500

Interest rates: 1.00%

Balance to earn interest: ₱1,000

 

Sterling Bank of Asia (Bayanihan OFW Savings Account)

Features: Especially designed for OFW’s

Initial Deposit: ₱0.00

Interest rates: 1.00%

Balance to earn interest: ₱2,000

 

Sterling Bank of Asia (Neo Savings)

Features: for 17 y/o and below

Initial Deposit: ₱0.00

Interest rates: 0.38%

Balance to earn interest: ₱2,000

 

BDO (Junior Savers Club)

Features: For 17y/o and below with ATM Card

Initial Deposit: ₱100

Interest rates: 0.25%

Balance to earn interest: ₱2,000

 

RCBC Savings Bank (Basic Saving ATM)

Features: with ATM Card

Initial Deposit: ₱3,000

Interest rates: 0.25%

Balance to earn interest: ₱3,000

 

Maybank (Yippie Savings Account)

Features: 12 y/o and below , with personal accident insurance

Initial Deposit: ₱500

Interest rates: 0.25%

Balance to earn interest: ₱5,000

 

EastWest Bank (Savings Account)

Initial Deposit: ₱200

Interest rates: 0.13%

Balance to earn interest: ₱500

 

Land Bank of the Philippines

Initial Deposit: ₱500

Interest rates: 0.10%

Balance to earn interest: ₱500

 

Well, the interest offered is not that so high promising rates but let’s take the gist here. Take a habit of saving up.

“Ang taong masinop, pag gipit may madudukot.”

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Junelyn Sarona

Junelyn Sarona is Self-Help's regular contributor! She finds writing as a great adventure and it is her passion. She joined Self-Help Pinoy Team because of her natural love to spread positivity to all Filipinos and Filipinos at heart.

2 thoughts on “Why Do Having A Savings Is A Must? [Affordable Bank Savings for Every Juan]”

    • Hello Jemuel, thanks for dropping by. Yes, tama kayo diyan… this 2019 — saving is a good start… Mahirap talaga pag hindi ka magsi-save, lalo na sa panahon natin ngayon!

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