A digital savings account has removed its maintaining balance requirement, allowing customers to keep their accounts active without worrying about penalties when their balance falls below a set amount.
The update comes as many Filipinos continue to manage rising living costs. According to Ramon del Rosario, head of consumer banking, the change gives customers greater flexibility to use their funds when needed while continuing to build their savings at their own pace. First-time deposit clients can open the account through the bank’s mobile app using one valid ID and receive four free monthly InstaPay transfers through rebates.
The account is designed to make saving more accessible by eliminating one of the common barriers faced by depositors. Customers looking to grow their funds further may also open an online time deposit account through the bank’s digital platforms. The eSavings product is currently available to first-time deposit clients.