Are you looking to level up your savings game this year? Why not open a savings account with Security Bank?
If you have 5,000 PHP or 50,000 PHP to spare, you can go and open a Regular or Premium Build Up Savings Account. Read on to find out more.
Build Up Savings at a glance
- No lock-in period or fixed minimum terms
- Almost 10x higher interest rates compared to other regular savings accounts
- No limit to number of deposits
- Up to 3x withdrawals per quarter
- Access to your funds without any lock-in period
Build Up Savings Rates
|Regular Build Up Savings||Premium Build Up Savings|
|Opening Balance||5,000 PHP||50,000 PHP|
|Maintaining Balance||5,000 PHP||50,000 PHP|
|Balance to Earn Interest||10,000 PHP||50,000 PHP|
|Base Interest Rate||.50%||1.00%|
With the Build Up Savings Account, you can also easily manage your account with the Security Bank mobile app and Security Bank Online.
This comes with an Everyday Card which you will receive on the same day you open your account.
It’s an ATM Debit Mastercard that you can use for ATM withdrawals, online purchases here and abroad, and POS transactions.
There’s no annual fee, and you can renew the card for free when it expires, usually after 3 years of receiving it.
If you open a Premium Build Up Savings Account, you can also choose to avail just the passbook, or just the ATM, or both.
Other fees and charges
To give you an idea of other fees and charges applicable to your Build Up Savings Account, you can refer to this table below:
|Dormancy per month (starts on the 25th month)||30 PHP|
|Fall below minimum balance||300 PHP per month after 2 consecutive months|
|Lost passbook||200 PHP|
|Early closure (within 90 days)||200 PHP|
|Card replacement||150 PHP|
|Interbank withdrawal||10 PHP (BancNet or Megalink)|
Requirements to open a Build Up Savings Account
You only need to present a valid ID if you wish to open a Build Up Savings Account. Check the list of accepted IDs here.
For foreigners residing in the Philippines, a passport or the Alien Certification of Registration (ACR) I-Card must be presented.
Opening an account
To open a Build Up Savings Account, you can always visit a Security Bank branch with the required valid IDs.
Your Build Up Savings Account will be opened the next banking day after you meet with the Human Switch Kit.
The Build Up Savings Account has a low maintaining balance that’s easy on the pocket, making it easy for you to manage your account and hit your money-saving goals.
It’s recommended if you want to grow your money faster for your long-term financial goals.
The Build Up Savings Account is also perfect for people who are looking for higher interest rates without any lock-in periods.
Does this sound like a savings account that will work for you and your savings goals this year? Share us your thoughts in the comments!