Are you planning to open a savings account but don’t know what bank and what type of account to choose?
Why don’t you try this new BPI Kaya Savings Account?
BPI Kaya Savings Account is one of the newest products of the Bank of the Philippine Islands that gives clients a worry-free option when it comes to saving.
One of the things we need to consider when opening a savings account is the accessibility of the bank. And BPI certainly answers this.
BPI has several branches nationwide that makes it easier for us do our banking transactions. In Metro Manila alone, BPI branches are located in almost every corner of the city.
Another thing is the online banking features of the savings account.
BPI has its own BPI Express Online facility which allows us to do our banking transaction online, at the comfort of our home or anywhere we are, without having to go personally to the bank anymore.
So, if you want to experience the convenience of having a reliable and accessible savings account, check out the features of BPI Kaya Savings and see if it fits your needs and lifestyle.
What are the Features of the BPI Kaya Savings Account?
- Initial Deposit – You only need ₱200 to open a BPI Kaya Savings Account.
- NO Maintaining Balance
- Minimal Fees for withdrawal transactions
- ₱5* per withdrawal at any BPI Express Teller ATMs and other customer-initiated debits such as OTC, EPS, and/or 24/7 banking channels
- Prevailing Debit Card fees apply
- Php 100 for withdrawals done over-the-counter
- Required Daily Balance to Earn Interest is only ₱1,000
- Interest Rate per Annum is 0.25%
The features are similar to the BPI Easy Saver Account, which is no longer on the list of accounts at the BPI website. They changed the name from BPI Easy Saver to BPI Kaya Savings.
How to Open a BPI Kaya Savings Account?
Applying for a BPI Kaya Savings Account is as easy as 1, 2, 3. Here are the steps…
Step 1 – Prepare the following requirements:
- 2 valid IDs
- Proof of Billing
- TIN or Tax Identification Number
- Php 200 for your Initial Deposit
Step 2 – Go to the nearest BPI branch.
If possible open an account that’s within the area of your residence.
Step 3 – Once you’re at the bank, approach the BPI Personnel or go to the Customer Information table and inform them that you are going to open a BPI Kaya Savings Account.
Submit all the required documents and the Initial Deposit.
They will give you an account opening form which you have to fill out. You’ll have to affix your signature in the bank form and signature cards.
It’s important that your signatures match with what you have on your valid IDs to avoid issues in the future.
I remember, when my brother was supposed to withdraw over-the-counter at the BPI branch, they could not release the money because his signature on his ID does not match with the signature in the bank records.
They asked him to provide other valid IDs with the same signature. And because he didn’t have other IDs, he went back to the house to get another one.
Good thing he has another ID with the same signature. Otherwise, he would have to go back to his branch of account (which is far from where he lives now) to update his bank information and signature.
Activate your BPI Kaya Savings Account
Once your applicants for BPI Kaya Savings Account is approved and processed, you will receive your ATM card on the same day.
After that, you’ll have to change the PIN (Personal Identification Number) at the ATM machine. The ATM card shall be activated and ready to use within or after 24 hours.
Why Open Kaya Savings with BPI?
Having your own savings account will motivate you to save your extra money for the future. Instead of keeping your money in your wallet or in a piggy bank, it would be wiser to save it in a bank instead. It’s safer, plus it earns interest even if it’s only minimal.
If you want to earn higher or better interest, you may inquire at the bank for their other products and choose the one that fits your needs.
Other BPI Deposit Accounts
Aside from BPI Kaya Savings Account, you may open other account types with BPI based on your needs and lifestyle. You can choose from any of the following accounts:
- BPI Advance Savings – an account that allows you to enjoy the interest of your deposit ahead of time.
- BPI Padala Moneyger – an affordable savings account specially designed for those who receive remittances from abroad.
- BPI Express Teller – an account that helps you simplify your finances through 24-hour superior electronic banking.
- BPI Save-up – an account that helps you set aside money from your ATM account to your Save-Up account regularly (every month, twice a month, etc).
- BPI Jumpstart – an account that is specially designed for the youth, ages 10 to 17 years old. It’s a tool to form the habit of saving at an early age.
- BPI Maxi-Saver – an account that lets you EARN MORE as you SAVE MORE.
- BPI Pamana Savings Account with FREE Life Insurance – an account that lets you earn interest on your savings and it comes with a FREE Life Insurance that’s worth 3x your account balance.
- BPI Pamana Padala – an account that is specially designed savings account for Overseas Filipino Remitters.
- BPI Passbook Account – an account that helps you keep your money while you earn interest and allows you to monitor your banking transactions in an easy and sensible way.
- BPI Foreign Currency Accounts – an account that allows you to save and grow your foreign currency with BPI.
For more info about BPI accounts, products, and services, you may visit BPI website, call BPI Hotline 89-100 or visit the nearest BPI branch.
BPI Kaya Savings Review
Saving money in the bank doesn’t always require a lot of money and it also doesn’t need a lot of requirements.
With BPI Kaya Savings, you can open your account with just ₱200 and start saving your extra funds for your future.
When you have your own savings account, you will be more motivated to save up than when you just keep your money in your wallet or in a piggy bank.
So, start the habit now of saving and you will reap the benefits of having savings in the future especially when you need it the most.
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