Saving money can seem like a grown-up task, but building a savings habit early on can set teens on the path to financial independence. In the journey of managing money, a dedicated savings account can be the perfect start. Here, we’ll explore the best teen-friendly savings accounts from major banks in the Philippines, each offering unique benefits that make saving as a teen easier, more rewarding, and genuinely empowering.
Why Open a Savings Account as a Teen?
Savings accounts designed for teens offer perks like lower minimum deposits, lower fees, and educational tools. These accounts aren’t just about putting money away; they’re about learning to set goals, understand interest, and value financial independence. It’s about laying down a strong foundation for the future.
Top Savings Accounts for Teens in the Philippines: Best Options for Young Savers
Each of these accounts brings something special to the table. Here’s a closer look:
1. RCBC GoSavers
Apply here: RCBC GoSavers
Initial Deposit: PHP 100
Monthly Maintenance Fee: None
Interest Earning Balance: PHP 5000
Interest Rate (per annum): 0.15%
Age Requirement: 0-21 years old
2. Security Bank Junior One Savings
Apply here: Security Bank Junior One Savings
Initial Deposit: PHP 100
Monthly Maintenance Fee: PHP 5000
Interest Rate (per annum): 0.0675%
Age Requirement: 7 to 18 years old
3. PSBank Kiddie and Teens Savings
Apply here: PSBank Kiddie and Teens Savings
Initial Deposit: PHP 500
Monthly Maintenance Fee: None
Interest Earning Balance: PHP 2000
Age Requirement: Kiddie: 0 to 12 years old, Teen: 13-17 years old
4. BPI Jumpstart Savings
Apply here: BPI Jumpstart Savings
Initial Deposit: PHP 100
Monthly Maintenance Fee: PHP 1000
Interest Earning Balance: PHP 2000
Interest Rate (per annum): 0.0625%
Age Requirement: 10-17 years old
5. Chinabank Easi-Save for Kids
Apply here: Chinabank Easi-Save for Kids
Initial Deposit: PHP 500
Monthly Maintenance Fee: PHP 500
Interest Earning Balance: PHP 500
Interest Rate (per annum): 0.125%
Age Requirement: 7-12 years old
6. Metrobank Fun Savers Club
Apply here: Metrobank Fun Savers Club
Initial Deposit: PHP 100
Monthly Maintenance Fee: PHP 500
Interest Earning Balance: PHP 4000
Interest Rate (per annum): 0.0625%
Age Requirement: 0-17 years old
