12 Best Kiddie Savings Accounts in the Philippines 2020

Learning the concept of bank savings is an important milestone in children’s formative years. During these years, you can teach them the value of money and how important it is to save up for the future. To improve your kid’s understanding of money, opening a kiddie savings account for them is a good way to start. 

Start the year right by encouraging your kids to save with any of these best savings account for kids in the Philippines.  

  1. BDO Junior Savers
  2. BPI Jumpstart
  3. Equicom Kiddie Builders Savings Account
  4. Security Bank Junior One Account
  5. China Bank Savings Easi-Save For Kids
  6. EastWest Bank Kiddie Savings
  7. PSBank Kiddie and Teen Savers
  8. Sterling Bank of Asia Neo Savings Account
  9. Metrobank Fun Savers Club
  10. RCBC Wise Savings Account
  11. UCPB Start2Save Junior Savings
  12. Maybank Yippie Savings Account 

1. BDO Junior Savers

Initial deposit: P100  

Required balance to earn interest: P2,000  

Interest: 0.25% 

Start securing your child’s future with just an initial deposit of P100 when you open a BDO Junior Saver’s account. This kiddie account is open to kids aged 0 to 12 years old.  For ages seven to 12 years old, they can get their BDO EMV Debit Card once their account reaches P2,000.  

You can grow their savings by transferring funds from your own BDO Savings Account to your kid’s account using BDO’s online banking services.  

Requirements for a BDO Junior Saver’s Account:

For an account name under your child: 

    • P100 initial deposit 
    • Copy of Passport
    • Copy of School ID, signed by the school principal/head 
    • Copy of NSO Birth Certificate 

For an account name under parent/guardian: 

    • Copy of two ID’s of parent/guardian 
    • Copy of your child’s passport, NSO Birth Certificate, or School ID 
    • Copy of adoption papers, if applicable 
    • Copy of guardianship documents, if the account is opened by the legal guardian 

(Read: Common Questions Little Kids Ask About Money—And How To Answer Them)

2. BPI Jumpstart

Initial deposit: P100  

Required balance to earn interest: P2,000 

Interest: 0.250%  

Unlike other kiddie savings account, BPI Jumpstart caters to kids and teenagers up to 17 years old. Since  the formative years of 10 to 17 are the best times to start learning about saving money, it is the perfect time to open an account that will aid your kids in developing good saving habits.  

You may opt to avail of the Allowance Transfer facility that automatically credits your child’s allowance to his or her account. Also, this account comes with a Guaranteed Savings feature to protect the account from impulsive withdrawals.  

Requirements for a BPI Jumpstart Savings Account:

    • P100 initial deposit 
    • Copy of your child’s NSO Birth Certificate
    • Copy of School ID, signed by the school head
    • Two 1×1 ID picture 
    • Copy of Utility Bill with your permanent address 

    3. Equicom Kiddie Builders Savings Account  

    Initial deposit: P500  

    Required balance to earn interest: P1,000  

    Interest: 1% 

    Compared to its counterparts, Equicom Kiddie Builders Savings Account offers a higher interest rate at 1%. This is open to ages 0 to 13 years old only.   

    Account holders are also eligible for dental and health benefits when their savings account reaches P15,000.  

    Take note that Equicom only allows three withdrawals in a month.  

    4. Security Bank Junior One Account

    Initial deposit: P100  

    Maintaining balance: P5,000  

    Required balance to earn interest: P5,000  

    Interest: 0.5%  

    Build your kids’ future with a higher-than-usual interest rate when you opt for Security Bank’s Junior One Account.  

    This account comes with a passbook and an Everyday Debit MasterCard that can be used here and abroad. This also entitles account holders to perks and discounts from Security Bank partner merchants. 

     Requirements for a Security Bank Junior One Account: 

      • P100 initial deposit 
      • One photo-bearing government ID  
      • For non-resident Alien, copy of Passport or Alien Certification of Registration  

    The accounts for children six years old and below will be opened as an In-Trust-For (ITF) account. Bottom of Form 

    5. China Bank Savings Easi-Save for Kids

    Maintaining balance: P500  

    Required balance to earn interest: P500  

    Interest: 0.25% 

    With no initial deposit required, you can begin managing your child’s finances with China Bank Savings Easi-Save for Kids. This account comes with a passbook, so you can easily see the progress of your kid’s saving journey.  

    Requirements for a China Bank Savings Easi-Save for Kids Account: 

      • Accomplished application form 
      • One 1×1 picture 
      • Copy of client’s valid ID  

    6. EastWest Bank Kiddie Savings

    Initial deposit: P2,000  

    Required balance to earn interest: P2,000  

    Interest: 0.125%  

    An initial deposit of P2,000 is all you need to open an account for your child with EastWest Bank Kiddie Savings. This already comes with a passbook, as well as internet banking and mobile facilities, so you can easily monitor your bank transactions.  

    7. PSBank Kiddie and Teen Savers

    Initial deposit: No initial deposit required  

    Maintaining balance: No minimum maintaining balance required  

    Required balance to earn interest: P2,000  

    Interest: .50%  

    PSBank offers a savings account for both children and teens with their PSBank Kiddie and Teen Savers account.  

    The PSBank Kiddie Savers Account is for kids 0-12 years old, while teens aged 13-18 years old are eligible to open their own PSBank Teen Savers Account. 

    PSBank made it easier for you to open an account for your offspring as they do not require an initial deposit or a maintaining balance. Kicking things up a notch, these accounts come with free personal accident insurance from Charter Ping An Insurance Corporation. 

    Furthermore, account holders can access their accounts online or through their PSBank Mobile app.  

    Requirements for PSBank Kiddie and Teen Savers: 

      • Copy of Individual account: customer information sheet (CIS)
      • Signature card
      • Signing instructions and acknowledgment of receipt form 
      • For parents or guardians who want to avail of automatic intra-bank fund transfer service, filled out interbank fund transfer (IBFT) enrollment form 
      • PSBank Kiddie Savers and Teen Savers Accounts with PSBank Debit Mastercard, Quit Claim / Waiver signed by the parent or guardian 

    Additional requirements for an ITF account:  

      • Photo-bearing government IDs 
      • Customer Information Sheet (CIS) – for Beneficiaries and Beneficial Owners 
      • Court order – required as proof of authority for guardians to open and operate an ITF account on behalf of the ward/s 

     Requirements for Parents or Legal Guardians: 

    • Photo-bearing government IDs 

     Requirements for children: 

      • NSO birth certificate, or certified true copy issued by the local civil registrar 
      • School ID or passport–with photo, and signed by the principal or school head 

    8. Sterling Bank of Asia Neo Savings Account 

    Initial deposit: No minimum initial deposit required  

    Maintaining balance: No maintaining balance required  

    Required balance to earn interest: P2,000  

    Interest: 0.375% 

    You can start with any amount you want to save for your kids when you choose Sterling Bank of Asia Neo Savings Account. The bank issues both passbook and a debit card, so you can simply monitor the progress of your kid’s savings account.   

    Requirements of Sterling Bank of Asia Neo Savings Account: 

      • One original government ID 
      • If Resident Alien, Passport and Alien Certification of Registration  
      • Card or Alien Employment Permit (AEP) 

    9. Metrobank Fun Savers Club  

    Initial deposit: P100  

    Required balance to earn interest: P4,000  

    Interest: 0.25%  

    Manage your kid’s savings with ease when you open a Metrobank Fun Savers Club account. You just need a small of P100 to start your saving journey. Maintain at least P4,000 monthly to enjoy a free education benefit worth P50,000.  

    10.  RCBC Wise Savings Account

    Initial deposit: P100  

    Required balance to earn interest: P5,000  

    Interest: 0.150%  

    With only a P100 initial deposit, secure your kid’s future with an RCBC Wise Savings Account. Also, you can enroll your teens in this account since this is applicable up to 21 years old. You can easily monitor the funds and make transactions since it comes with a debit card and passbook. This account also comes with a comprehensive Sunlife Grepa insurance package.  

    Requirements of RCBC Wise Savings Account: 

      • P100 initial deposit  
      • One government ID  
      • Proof of address  

    11. UCPB Start2Save Junior Savings  

    Initial deposit: P100  

    Required balance to earn interest: P1,000  

    Interest: 0.250%  

    Start the future right with the UCPB Start2Save Junior Savings. For ages 0-19 years old, it will open as an ITF account, while for kids ages 7-19 years old, they can be the principal owner of the savings account. When the kids turn 20 years old, the Junior Savings Account will be converted to a regular UCPB account 

    Requirements of UCBC Start2Save Savings Account: 

    For ITF account:  

      • P100 initial deposit  
      • One valid ID of the parent  
      • Original copy of Child’s birth certificate  
      • One 1×1 ID picture  

     For Principal Account:  

      • One valid ID of the child  
      • One 1×1 ID picture  

    12. Maybank Yippie Savings Account 

    Interest: 0.250% and 0.500%  

    Initial deposit: 

    Maintaining balance: P500  

    Required balance to earn interest: P5,000  

    Encourage your children to start the habit of saving by opening a Maybank Yippie Savings Account for them. Maintain an amount of P5,000 and you can start earning interest monthly. Apart from making the savings grow, opening this account comes with a free medical reimbursement benefit.  

    (This article was written on August 19, 2017, and updated on Feb 6, 2020.)