Best Kiddie Savings Account in Philippines

Your child or teenager may "upgrade" from the piggy bank in their room and into the real world of banking with the help of the many savings and checking accounts tailored specifically to youngsters that are now available at banks and credit unions.

A kids savings account gives your children the chance to earn interest while also learning how to do their own banking and developing a savings habit, whether you want to help raise their own savings account or they require an account to save up their money from an allowance or a part-time job.

In doing so, you have to consider the interest rate, fees, minimum amount, how quickly you and your kid can get your hands on the funds, and whether or not the account can be adapted as the child becomes older when deciding on a savings account.

With this in mind, we've put in the time and effort to compile a curated list of the best savings account available in the Philippines, so you can select one that works for your family and your kid.

What are the Top Children Savings Account to Consider

Children should reach a significant developmental milestone when they grasp the idea of saving money in a bank. They're at the perfect age to start learning from you about financial responsibility and planning ahead.

Considering this, opening children's savings accounts is a great approach to introducing them to the concept of saving and helping them develop a positive attitude toward saving.

BPI Jumpstart Savings

When children open a Jumpstart Savings account with BPI, they are introduced to the concept of saving money at a young age. The Jumpstart Savings Account was designed with various innovative features that might aid parents in teaching youngsters the value of saving money.

Kiddie Features

A part of the savings may be shielded against the possibility of premature withdrawal thanks to the Guaranteed Savings function. Your child's allowance may also be automatically sent to their Jumpstart Account using the Allowance Transfer Facility. The BPI Express Teller ATM, BPI Phone Banking, BPI Mobile Banking Menu, and the BPI Online Banking all provide cellular top-ups for this kid's savings account.

Age requirement: 10 to 17 years old | Initial deposit: Php 100 | Interest rate: 0.0625% | Maintaining balance to earn interest: Php 2, 000 | Minimum maintaining balance: Php 1, 000

China Bank Savings Easi-Save for Kids

China Bank Savings Easi-Save for Kids is a savings account that pays interest to children aged 7 to 12. Unfortunately, there is no debit card associated with this account. Instead, a passbook is included, which is convenient if you plan on leaving the money at the bank.

Kiddie Features

This account may be created with an In-Trust-For (ITF) arrangement and comes with a passbook.

Age requirement: 7 to 12 years old | Initial deposit: Php 500 | Interest rate: 0.125% | Maintaining balance to earn interest: Php 500 | Minimum maintaining balance: Php 500

PNB MyFirst Savings Account

PNB's MyFirst Savings Account makes it simple to start saving for your child's future. You may earn rewards just by making purchases with the included debit card, and there's no minimum balance or opening deposit necessary.

Kiddie Features

The PNB Mabuhay Miles Debit Mastercard is included in a passbook and may be used at participating stores to earn points toward travel rewards with no minimum initial deposit or minimum balance required.

Age requirement: 19 years old and below | Initial deposit: None | Interest rate: 0.100% | Maintaining balance to earn interest: Php 5,000 | Minimum maintaining balance: None

Security Bank Junior One Account

With the Security Bank Junior One, young savers may benefit from interest rates that are greater than those offered by regular savings account.

Kiddie Features

A passbook and an optional debit card are included. It's simple to create an account with Security Bank, and customers may obtain their Everyday Debit Mastercard and SB Online Access on the exact same day.

Age requirement: 18 years old and below | Initial deposit: Php 100 | Interest rate: 0.0675% | Maintaining balance to earn interest: Php 5,000 | Minimum maintaining balance: Php 5,000

Metrobank Fun Savers Club

Children account holders are immediately enrolled in the Metrobank Fun Savers Club, which gives them a sense of belonging and responsibility in their savings endeavors.

Kiddie Features

In the case of the untimely passing of a parent or legal guardian, the kid will be eligible to receive educational trust benefits in addition to the initial deposit and free personal accident insurance. This Metrobank kiddie bank account does not provide access to ATMs.

Age requirement: 0 to 17 years old | Initial deposit: Php 100 | Interest rate: 0.0625% | Maintaining balance to earn interest: Php 4,000 | Minimum maintaining balance: Php 500 

Sterling Bank Asia Neo Savings Account 

In order to get young people started on the path to financial independence, Neo Savings Account was created. There is no minimum initial deposit needed for your children to start earning interest. The Neo Savings Account may be accessed in person, over the phone, at an ATM, or through Sterling Bank Online or BancNet Online.

Kiddie Features

There is no minimum opening deposit or required minimum amount to get monthly interest crediting. A Visa debit card and accompanying passbook are included.

Age requirement: 19 years old and below | Initial deposit: Any amount | Interest rate: 0.375% | Maintaining balance to earn interest: Php 2,000 | Minimum maintaining balance: None 

EastWest Kiddie Savings

EastWest Kiddie Savings is another great alternative for a young person's first bank account. With convenient online and smartphone access, you can effortlessly deposit money into your child's account and keep tabs on their spending.

Kiddie Features

To begin collecting interest on your account, you just need to deposit Php 2, 000, and with the bank's convenient online statement and passbook, you can keep track of your account balance and activities at any time. EastWest also offers convenient in-person, over-the-counter, and remote banking options, including a website and a smartphone app.

Age requirement: 0 to 18 years old | Initial deposit: Php 2,000 | Interest rate: 0.125% | Maintaining balance to earn interest: Php 2,000 | Minimum maintaining balance: Php 2,000

Maybank Yippie Savings Account

If you are a parent wishing to save and feel secure, the Maybank Yippie Savings Account is for you. It's one of the few savings accounts for minors that includes things like accident insurance and reimbursement for medical expenses.

Kiddie Features

In addition to Singapore and Malaysia, you may use your free ATM card in Cambodia and Brunei. A personal accident insurance policy covering up to Php 500, 000 (five times the preceding month's average daily balance) and a medical reimbursement benefit covering up to 10% of the personal accident insurance policy are also included at no additional cost.

Age requirement: 0 to 12 years old | Initial deposit: Php 500 | Interest rate: 0.25% | Maintaining balance to earn interest: Php 5,000 | Minimum maintaining balance: Php 500

Other kiddie savings account to consider:

• PSBank Kiddie and Teen Savers Account
• RCBC Wise Savings Account
• UCPB Start2Save Junior Savings Account

Build Your Child's Confidence with Savings Accounts and A Kid-Friendly Home Investment

Teaching your kids to handle bank accounts by opening a savings account helps mold their financial independence at an early age. But you can boost their confidence more if you can also raise them in a community that is safe, secure, and enjoyable for kids.

Invest in a house and lot in the Philippines with Lumina Homes now, and enjoy all the benefits of living near services and attractions designed with children of all ages in mind.

Our affordable house and lot for sale all over the country are built in strategic locations, making them near to schools, colleges, and other educational institutions as well as to tourist attractions that your whole family will surely enjoy without the hassle of a few hours travel.

This affordable house and lot investment also include amenities for kids such as our mini gardens and playground, e-Spacio, multipurpose hall, and a covered basketball court. You can also ensure the safety and security of your whole family including your children with our 24/7 guard house, perimeter fence, and CCTV cameras installed all over the neighborhood.

Hurry and choose a smart home investment for your kids this year and make your home reservations with Lumina Homes!