deposit account for kids Philippines,bank account for kids Philippines,teaching kids to save
LifeMoney

Start them Young: Where to Open a Bank Account for Kids

Teach your child the value of saving for the future with these kiddie bank account offerings.

piggy bank

Photo by Chris Potter via flickr creative commons

“Banking on your Future", is a program launched by the Banko Sentral ng Pilipinas (BSP) for students as young as Grade 1. The objective is to educate the youth on the benefits of saving and to create a finance-conscious generation. The project is in partnership with Philippine financial institutions and associations as well as the Department of Education (DepEd). 

Teach your child to save his aguinaldo and plan for bigger things ahead. Instilling the habit of saving and thriftiness in your child will make him a prudent, money-wise and responsible adult. Start them young on the basics of economics and open an account for them today for as low as P100. 

Related stories:

3 Ways to Teach your Kids How to Save 

Easy, clever ways to teach your kids the value of your hard-earned peso 

 

Here are local financial institutions to help you get started:

 

Allied Bank - PNB

Banco de Oro

Bank of Makati

Bank of the Philippine Islands

Citystate Savings Bank Inc.

Development Bank of the Philippines

Eastwest Bank

Equicom Savings Bank

Insular Bank

Maybank

Metrobank

MVSM Bank

Philippine Business Bank

Philippine Savings Bank

Planters Development Bank

RCBC Savings Bank

Robinsons Bank

Security Bank Corporation

Sterling Bank of Asia

The Real Bank

watch now

United Coconut Planters Bank

 

Allied Bank - PNB

 

Product: Star Kiddie Club

Star Kiddie Club

Age requirement: 12 years old and below

Initial Deposit: P100

Maintaining Balance: P1,000

Minimum ADB (average daily balance) to earn interest: Php 1,000.00

Interest rate: 0.25%

Privileges/perks: Specially designed passbook

 

Requirements:

School ID

Birth certificate

Two (2) valid IDs of parent or guardian

Two (2) pieces 1x1 ID photo

Head office: Pres. Diosdado Macapagal Boulevard, Pasay City

List of PNB-Allied Branches: www.pnb.com.ph/index.php 

Website:  www.pnb.com.ph

Contact number: (02)816-5575 (24/7 PNB customer service)

E-mail: customercare@pnb.com.ph

 

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Banco de Oro (BDO)

Product: Junior Savers Club (JSC), Junior Savers - Banking on Your Future (JS-BOYF) and Power Teens Club (PTC)

BDO Junior Savers Club

Age requirements: 

JSC: 7 - 12 years old

JS-BOYF: 12 years old and below

PTC: 13 - 19 years old 

 

Initial Deposit: 

JSC: P500

JS-BOYF: P100

• PTC: P2,000

 

Maintaining Balance: 

• JSC: P100

• JS-BOYF: P100

• PTC: P2,000

 

Minimum ADB (average daily balance) to earn interest: 

• JSC: P500

• JS-BOYF: P500

• PTC: P2,000

 

Interest rate: 0.25% per annum

 

Privileges/perks: 

• Passbook

• Pencil case

• Shopping card that can be used in all SM Department Stores; discounts and freebies at participating establishments

• ATM card for 7 years old and up with at least P2,000 balance

• ID card for 6 years old and below

 

Requirements: 

• Parent/legal guardian should be present in opening the account

• Two (2) valid IDs of parent/s or guardian

• 1×1 ID picture of the parent/s or guardian and child

• Original and photocopy of child’s birth certificate

• School ID

Conditions: When JS-BOYF balance reaches P500.00, it will be upgraded to the regular JSC account.

Head office: 7899 Makati Avenue, Makati City

Branches: https://www.bdo.com.ph/branches-atms-locator

Website: https://www.bdo.com.ph  

Contact no: (02)631-8000 

E-mail: https://www.bdo.com.ph/contact-us

 

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Bank of Makati

Product: Kidz Savers Account

Bank of Makati Kidz Savers Account

Age requirement: 7 to 17 years old

Initial Deposit: P100

Maintaining Balance: P100

Minimum ADB (average daily balance) to earn interest: P1,000

Interest rate: 1% per annum 

Privileges/perks: Passbook

 

Requirements:

• Birth certificate

• School ID

• 2 pcs 2x2 ID photo

 

Head office: 44 Sen. Puyat Ave., Makati City

Branches: http://www.bankofmakati.com.ph/contacts/bank-branches.html

Website:  http://www.bankofmakati.com.ph

Contact no: (02)889-0000

E-mail: customerservice@bankofmakati.com

 

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Bank of the Philippine Islands (BPI)

Name of product:  Jumpstart Savings

BPI Jumpstart Savings

Age requirement: 10 - 17 years old

Initial Deposit:  P500

Maintaining Balance: P1,000

Minimum ADB (average daily balance) to earn interest:  P2,000

Interest rate: 0.25% per annum

Privileges/perks: 

Jumpstart card

Four (4) free withdrawals a month

Discounts and privileges at affiliated establishments

Reload mobile phone via ATM with jumpstart card

 

Requirements:  

Two (2) valid IDs

Two (2) recent 1x1 colored pictures

Head office: 109 Paseo De Roxas Corner Dela Rosa Street, Makati

Branches: info.bpiexpressonline.com 

Website: http://bpiexpressonline.com/

Contact no: (02)891-0000

E-mail: https://www.mybpimag.com/form/Email:-us/contact-usa.php

 

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Citystate Savings Bank Inc.

Product: Student Savers Account

Student Savers Account

Age requirement: 7 years old to 21 years old

Initial Deposit: P 100

Maintaining Balance: P 100

Minimum ADB (average daily balance) to earn interest:  P500

Interest rate: 0.25%

Privileges/perks: 

Online signature verification

Passbook for 0-12 years old

ATM for 13 years old and above

 

Requirements:

 Birth certificate

Two (2) pieces 1x1 or 2x2 photo of child and parent

Valid IDs of child and parent

Conditions: For younger children who can not affix signature, parent or guardian can open an account under ITF (In-Trust-For).

 

Head office: Citystate Centre Building 709 Shaw Boulevard Brgy. Oranbo, Pasig City

Branches: http://www1.citystate.com.ph/location_branches.php

Website: www.citystate.com.ph  

Contact no: (02)470-3333

 

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Development Bank of the Philippines (DBP)

Product: Young Earners' Savings Account (YES), Regular Savings Account

Young Earners' Savings

Age requirements: 

YES: 6 yrs old and below

Regular: 7 yrs old and above

 

Initial Deposit: 

YES: P100 or USD 50

Regular: P500

 

Maintaining Balance: 

YES: P100

Regular: P500

 

Minimum ADB (average daily balance) to earn interest: P500 for both accounts

Interest rate: 0.25%

Privileges/perks: Philippine peso or US dollars accepted

 

Requirements: 

YES

 - Photocopy of birth certificateo

 - Parent’s two (2) valid IDs and two (2) pieces ID photo

Regular: 

 - School ID for regular account

Condition: Parents or the guardian have to open the YES account under ITF. Regular accounts will be under the child’s name.

Privilege/perks: Passbook

 

Head office: Sen. Gil J. Puyat Avenue corner Makati Avenue, Makati City, Philippines

Branches: www.dbp.ph/about.php 

Website: www.dbp.ph

Contact nos.: (02)818-9511 to 20 or (02)818-9611 to 20

E-mail: info@dbp.ph

 

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East West Bank

Product: Cool Savers Kiddie Account

East West Bank

Age requirement:  0-18 years old

Initial Deposit: P 2,000

Maintaining Balance: P2,000

Minimum ADB (average daily balance) to earn interest: P 2,000

Interest rate: 0.25% per annum

Privileges/perks:  

Passbook

Internet Banking Facility/Mobile Access

 

Requirements:

Two (2) valid IDs

Proof of billing

2x2 ID photo

 

Head office: Beaufort, 5th Avenue corner 23rd Street, Bonifacio Global City, Taguig City

Branches: http://www.eastwestbanker.com/tool/branch_list.asp

Website: http://www.eastwestbanker.com

Contact no: (02)888-1700

E-mail:  service@eastwestbanker.com

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Equicom Savings Bank

Product: Kiddie Builders Account

Kiddie Builders Account

Age requirement: 13 years old and below

Initial Deposit: P500

Maintaining Balance: P1000

Minimum ADB (average daily balance) to earn interest: P5,000

Interest rate: 1.0% interest rate per annum

Privileges/perks: Free dental and medical benefits from Maxicare and Metro Dental upon reaching an account balance of P15,000

 

Conditions: 

In a month, withdrawal must not be more than three (3) times

Account for 7 years old and below must be under ITF

 

Requirements: 

Two (2) valid ID’s of the parents or the guardian

Photocopy of the School ID of the Child (if applicable)

Photocopy of the Birth Certificate of the child

One (1) ID photo (any size) of the guardian and child

Conditions: Maximum withdrawal limit of up to three (3) times within a month

 

Head office: 219 Salcedo St., Legaspi Village, Makati City

Branches: http://www.equicomsavings.com/list-of-branches

Website: http://www.equicomsavings.com/

Contact no: Equicom 24/7 Customer Service at (02)241-5952 or (02)893-2540 to 41

E-mail: eqbcustomerservice@equicomsavings.com.ph.

 

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Insular Bank

Insular Bank

Product: Youth Savers Account

Age requirements: 7-17 years old; ITF account for children 0-6 years old

Initial Deposit: P100

Maintaining Balance: P100

Minimum ADB (average daily balance) to earn interest: P1,000

Interest rate: 1.5% 

Privileges/perks: Passbook

Requirements:

Birth certificate

Two (2) pieces 1x1 or 2x2 ID photo of child and parent

School ID

Parent's 2 valid ID and proof of billing 

Head office: G/F Net Plaza 31st Street, Bonifacio Global City, Taguig, Metro Manila

Branches: http://insularbank.ph/cms/branches

Website: http://insularbank.ph/

Contact no: (02)804-1370  

E-mail: http://insularbank.ph/cms/contact-us

 

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Maybank

Product: Yippie Savings Account and IM Teen Savings Account

Maybank Yippie Savings AccountMaybank IM Teen

Age requirements: 

Yipee: 12 years old and below

IM: 13 to 17 years old

 

Initial Deposit:

Yipee: P500.00

IM: P500.00

 

Maintaining Balance: 

Yipee: P5,000

IM:  P5,000

 

Minimum ADB (average daily balance) to earn interest: 

Yipee: P5,000.00

IM: P5,000

 

Interest rates:

Yipee: 0.05% to 1% per annum

IM: 0.25% to .5 % per annum

 

Privileges/perks: 

Passbook 

ATM card free accident insurance 

 

Requirements:

2 valid IDs with photo (with at least one issued by the government) 

Proof of billing 

Birth Certificate

 

Head office: Maybank Corporate Centre 7th Avenue corner 28th Street Bonifacio High Street Central Bonifacio Global City

Branches: www.maybank2u.com.ph 

Website: http://www.maybank2u.com.ph

Contact no: (02)588-3888

E-mail: customerservice@maybank.com.ph

 

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Metrobank

Product: Fun Savers Club

Fun Savers Club

Age requirement: Teens under 18

Initial Deposit: P500

Maintaining Balance:  P500

Minimum ADB to earn interest: P4,000

Interest rate: 0.25% per annum

Privileges/perks: 

Welcome gift

Educational trust benefit worth P50,000 

Personal accident insurance

Exclusive discounts and privileges from partner establishmentsRequirements:

Two (2) pieces 1x1 recent ID photos

Two (2) photocopies of school ID 

Photocopy of birth certificate

 

Requirements for In-Trust-For (ITF) accounts:

Original birth certificate of the minor

Two (2) valid IDs of parent/guardian• 1x1 picture of the parent/guardian

One (1) photo of the minor

 

Head office: Metrobank Plaza Bldg, Sen. Gil J. Puyat Ave, Makat

Branches: http://www.metrobank.com.ph/locate_branch.asp

Website: http://www.metrobank.com.ph

Contact no: (02)870-0700

E-mail: customercare@metrobank.com.ph

 

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MVSM Bank

Product: Regular savings account

MVSM

Age requirement: For children 7 years old and below, account can opened by the parent.

Initial Deposit: P100

Maintaining Balance: P100

Minimum ADB (average daily balance) to earn interest: P500

Interest rate: 0.25% per annum 

Privileges/perks: Passbook

 

Requirements:  

Valid ID or school ID

Two (2) pieces 1x1 or 2x2 ID photo of the parent and child

Birth certificate

 

Head office: 389 J.P. Rizal St., Sto. Nino, Marikina City

Branches:  http://www.mvsmbank.com/contact2.html

Website: http://www.mvsmbank.com/

Contact no: (02)681-0075 and 681-6984

E-mail: feedback@mvsmbank.com

 

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Philippine Business Bank

Product: Campus Savers

Philippine Business Bank

Age coverage: Students from elementary to college level

Initial Deposit: P100.00

Maintaining Balance: P100

Minimum ADB (average daily balance) to earn interest: P500

Interest rate: 0.25% p.a.

Privileges/perks: Passbook

 

Requirements:

School ID and registration of school

Two (2) pieces 2x2 ID

Child must already be able to affix his own signature.

Conditions: Parents can open an ITF account for very young children who can not affix signature. Maintaining balance for ITF account is P1,000.

 

Head office: 350 Rizal Avenue Extension cor 8th Ave. Grace Park Caloocan City

Contact no: (02)363-3333

Branches: http://www.pbb.com.ph/metro_manila.htm

Website: http://www.pbb.com.ph

E-mail: info@pbb.com.ph

 

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Philippine Savings Bank

Products: Kiddie Savers Account and Teen Savers Account

PSBank Kiddie Savers Account

Age requirements:

• Kiddie savers: 0-12 years old

• Teen Savers Accounts: 13-18 years old

Initial Deposit: Any amount

Maintaining Balance: None

Minimum ADB (average daily balance) to earn interest: Any amount

Interest rate: 0.5%

Privileges/perks: 

• Free personal accident insurance

• Passbook

 

Requirements:

• Completely filled-out bank forms

• Additional requirements for legal guardians opening an ITF account

• Valid IDs

• Parents / legal guardian's primary ID or two (2) valid secondary IDs, one of which with photo and signature/s of child/children or ward/s

• Birth Certificate

• Passport or School ID 

Conditions: Kids / teens from 7-17 years old should be accompanied by his parent(s) or legal guardian/s during account opening. Kiddie Savers Account may be opened as an In-Trust-For (ITF) account.

 

Head office: PSBank Center, 777 Paseo de Roxas Avenue corner Sedeño Street Makati City

Branches: http://www.psbank.com.ph/psbank-branch-directory_makati.aspx

Website: http://www.psbank.com.ph

Contact no: (02)845-8888

E-mail: http://www.psbank.com.ph/psbank-contact-us.aspx

 

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Planters Development Bank

Plantersbank

Products: 

SME Kiddie Club 

SME Teen ClubAge requirements:  

SME Kiddie Club: 7 to 12 years of age

SME Teen Club: 13 to 19 years of age

 

Initial Deposit:

SME Kiddie Club: P500

• SME Teen Club: P1,000

 

Maintaining Balance:  

SME Kiddie Club: P500

SME Teen Club: P1,000

 

Minimum ADB to earn interest: 

SME Kiddie Club: P1,000

SME Teen Club: P2,000

 

Interest rate: 0.5% per annum for both accounts

Privileges/perks: Fund transfer option

 

Requirements:

Birth certificate of child

Child must be physically present upon opening of account

Two (2) pieces 1x1 ID photo of parent and child

Valid ID of parent and child (school ID)

Conditions: Children 6 years old and below can be enrolled under ITF

 

Head office: Plantersbank Building 314 Sen. Gil Puyat Avenue Makati City

Branches: http://www.plantersbank.com.ph/branches/

Website: http://www.plantersbank.com.ph/

Contact no: (02)812-5325

E-mail: customerrelations@plantersbank.com.ph

 

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RCBC Savings Bank

Product: WISE Savings Account

WISE Savings Account

Age requirements: 7 – 14 years old

Initial Deposit: P500

Maintaining Balance: P1,000

Minimum ADB (average daily balance) to earn interest: P5,000

Interest rate: 0.5% per annum 

Privileges/perks: 

Free personal accident insurance

Optional ATM / discount card with tie-up to establishments like Fully Booked, Dave's Fun House and Manila Ocean Park 

 

Requirements:

IDs 

Birth Certificate

Valid school ID/identification card

 

Head office: RCBC Savings Bank Corporate Center, 26th and 25th Streets, Bonifacio Global City, Taguig City

Branches: http://www.rcbcsavings.com/?p=39

Website: http://www.rcbcsavings.com

Contact no: (02)555 - 8772

Email: rsbcustomercare@rcbcsavings.com

 

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Robinsons Bank

Robinsons Bank

Product: Tykecoon Kiddie Savings Account

Age requirement: 18 and below

Initial Deposit: P2,000

Maintaining Balance: P2,000

Minimum ADB (average daily balance) to earn interest: 2,000

Interest rate: 0.25%

Privileges/perks: Passbook

 

Requirements: 

• Filled up documents

• Two (2) valid IDs of signatory

• One (1) photo/picture per signatory

• Proof of billing

 

Head office: Ground Floor Galleria Corporate Center, EDSA corner Ortigas Avenue, Quezon City

Branches: www.robinsonsbank.com.ph/atmlocator.do 

Website:  http://www.robinsonsbank.com.ph

Contact no: 637-2273

E-mail: c3@robinsonsbank.com.ph

 

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Security Bank Corporation

Security Bank

Product: Jr One Savings

Age requirement: 7 to 18 years old, ITF (In-Trust-For) account for 6 years old and below

Initial Deposit: P100

Maintaining balance:  P100

Minimum ADB (average daily balance) to earn interest: P4,000

Interest rate:  0.50%

Privileges/perks: ATM card

 

Requirements:

• Valid ID of parent and child

• Birth certificate of child if without an ID

• Two (2) pieces 1x1 or 2x2 ID photo

 

Head office: Security Bank Centre 6776 Ayala Avenue, Makati City

Branches: http://www.securitybank.com/branchatm/

Website:  http://www.securitybank.com/personal/

Contact no: 887-9188

E-mail: http://www.securitybank.com/contactus/ 

 

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Sterling Bank of Asia

Product: Neo Savings Account

Neo Savings Account

Age requirement: 7 to 17 years old, ITF (In-Trust-For) if child is 6 years old and below

Initial Deposit: Any amount

Maintaining Balance: None

Minimum ADB (average daily balance) to earn interest: Php 2,000

Interest rate: 0.375% per annum

Privileges/perks: 

Passbook 

ATM/Visa debit card

 

Requirements: Valid ID (school ID) or birth certificate of the child. If ITF, birth certificate of child, valid ID of parent.

 

Head office: Sterling Bank Corporate Center, Ortigas Avenue, Greenhills, San Juan City

Branches: http://www.sterlingbankasia.com/Branches.aspx

Website:  http://www.sterlingbankasia.com/

Contact no: (02)721-6000

E-mail: customer.service@sterlingbankasia.com

 

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The Real Bank

Product: Real Kiddie Savers’ Club

The Real Bankl

Age requirement: 7 - 12 years old 

Initial Deposit: P100

Maintaining Balance: P500

Minimum ADB (average daily balance) to earn interest: P500

Interest rate: 0.5% per annum with interest credited monthly

Privileges/perks: Passbook

 

Requirements:

Filled-out application form

Two (2) Valid IDs of signatory (original & photocopy)

Two (2) pieces 1x1 ID photo of signatory and child

Birth certificate of child

P100 initial cash deposit

Conditions: Parents can open an In-Trust-For (ITF) account if their child is under 7 years old. The account can be transferred to the child's name once he/she reach 7 years old.

 

Head office: 7th Floor, President Tower, #81 Timog Avenue, Diliman, Quezon City

Branches: http://www.realbank.com.ph/branch-network

Website:  http://www.realbank.com.ph/

Contact nos.: (02)990-7325 local 880 to 883

E-mail: http://www.realbank.com.ph/contact-us

 

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United Coconut Planters Bank (UCPB)

UCPB

Products: Kiddie Max Account and In-Trust-For Accounts (ITF) in behalf of children 0-6 years old

Age requirements: 0-17 years old

Initial deposit: P500

Maintaining Balance: P1,000

Minimum ADB to earn interest: P10,000

Interest rate: 0.25%

Privileges/perks: 

Passbook

ATM card 

Accountholders 16-17 years old shall be issued ATMs and allowed to enroll to UCPB Connect, Mobile Phone Banking Service or Telebanking.

 

Requirements: 

Birth Certificate

2x2 ID picture 

Proof of billing for utilities or ccredit card bills of parent/guardian

Two (2) valid IDs of parents/guardian

School ID of children and teens 7 to 17 years old

Conditions: With written parental conformity if account holder is less than 16 years old. ITF accounts shall be converted to a Kiddie Max when the child turns 7 years old, Kiddie Max accounts shall be converted to UCPB Regular ATM accounts on the child's 18th birthday.

 

Head office: UCPB Corporate Offices, 7907 Makati Avenue, Makati City

Branches: http://www.ucpb.com/lzBlank_Network_index.php

Website:  http://www.ucpb.com/UCPB_Product&Services_Accounts.php

Contact no: (02)811-9111

E-mail: crc@ucpb.com

 

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