The Different RCBC Savings Accounts for You

Most Filipinos recognize the importance of saving, whether it’s for an emergency, retirement, a new house, or a business. Whatever your financial goals are, the key to success is finding the right savings accounts with high interest.

To get you started on your savings journey, here is a comparison of the different types of savings accounts from RCBC.

Savings Account Examples for Different Needs

RCBC has a savings account no matter where you are in your savings journey. See them here:

If You’re Just Starting: Regular Savings

Regular savings are perfect for those who are just starting out. These are made for maximum accessibility, coming with an ATM card for easy withdrawal. However, a disadvantage is lower interest rates.

What are my options?

If you want no initial deposit and required ADB, choose RCBC Basic Savings Account.

If you want a small interest rate for a PHP 3,000 initial deposit and ADB, you may choose between the Savings ATM or the Passbook Savings Account.

If You’re Preparing for the Unexpected: Online Accounts

Not everyone has time to go to the bank to open an account. RCBC has online accounts that offer insurance benefits while you build your emergency savings. 

We have accounts for those new to savings and women who are ready to level up their savings.

What are my options? 

iSave is a bank account with no maintaining balance. Although the interest payoff is lower at 0.15% to 0.20%, you get free Personal Accident Insurance and Hospital Benefits.

EWoman requires a PHP 15,000 initial deposit and ADB. You need PHP 25,000 to earn 0.15% interest. You also get free life insurance from Sunlife Grepa.

If You’re Growing Your Funds: High-Yield Accounts

If you’re a more experienced saver, the next logical step is to grow your money to protect it from inflation. An example of a savings account to get you started in this step is a high-yield account. 

A high-yield savings account offers higher interest rates and keeps your money accessible. 

What are my options? 

Dragon Peso Savings offers tiered interest rates from 0.15% to 0.45%. The initial deposit, ADB, and balance to earn interest is at only PHP 25,000.

RCBC One Account is an all-in-one account with high interest rates, ATM and checkbook, as well as life insurance, personal accident insurance, and/or card insurance. You can customize the add-ons based on your financial goals.

The Dragon Dollar Savings lets you take advantage of exchange rates while you save. Enjoy 0.100%-0.125% interest rates when you start saving with USD 1,000. 

In fact, you can save in other currencies with our Foreign Currency. Available currencies are EUR, CAD, AUD, JPY, GBP, CHF, and CNY.

If You’re a Kid, Teen, or Pensioner

The savings account examples we’ve mentioned so far are for earners. But we know that it’s never too early or too late to start saving. Whether you’re a student beginning to build your funds or a pensioner looking for a secure way to keep their retirement funds, there’s an account that suits your needs.

What are my options? 

GoSavers is a savings account for kids that requires only PHP 100 for initial deposit, and PHP 5,000 to earn 0.15% interest rate. It also comes with free comprehensive insurance for the parent and child.

SSS Pensioner requires a low maintenance balance and comes with an ATM card and passbook.

Do You Need Multiple Savings Accounts?

If you have multiple financial goals, often, it is best to have separate accounts for each one.

The different accounts have unique offerings designed to help each depositor achieve their specific financial goals. It is easier to stay on track with your goals when you have a concrete reminder of each one. 

Besides maximizing payoffs, having different accounts makes it easier to keep track of your funds. For example, you can limit your expenses to your emergency fund and avoid dipping into your retirement fund in case of unforeseen expenses.

Start Saving with RCBC

When you think about how to choose a savings account, you may consider which bank is better for a savings account and which accounts offer the best payoff.

Choose an account that will not only keep your money safe but also help you achieve your goals.

Get a head start on your savings with an RCBC account. Contact us today to open an account or learn more.