MANILA - The Bank of the Philippine Islands said Friday a new type of savings account would be available in June with a maintaining balance of P50,000.
The new BPI Saver Plus savings account will be available starting June 1, the bank said in an advisory.
This came as BPI announced that it would raise the minimum daily balance of its Maxi-Saver to P2 million from P50,000 and P75,000 for both debit card and passbook.
For the Saver Plus savings account, the average daily balance is set at P50,000. Likewise, the required daily balance to earn interest is also set at P50,000.
The new savings platform is exclusive for Debit Card only, BPI said.
There is no limit to the amount of withdrawal that can be made monthly but an P18 fee will be charged for every withdrawal or debit transaction, the lender said.
A P300 fee will be imposed if the client's balance falls below the average daily balance required by the bank, it said.