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LISTED: Philippines’ Best Kiddie Savings Accounts For Your Little Saver


Learning the concept of bank savings is an important milestone in children’s formative years. This is when they’ll truly learn the value of money, and how important it is to save up for the future.

If you want improve your kid’s understanding of money, opening a kiddie savings account is a good way to start.

We’ve opened up your options for best savings accounts for kids from BDO, BPI, and other leading banks in the Philippines. Your kids will surely thank you down the line, not to mention you can sleep a little easier at night knowing they have a little nest egg tucked away.

BDO Junior Savers

An initial deposit of P100 is all you need to open a BDO Junior Saver’s account . Open to kids aged 0 to 12 years old, you can choose between owning a personalized Junior Savers ATM Debit Card, or a Junior Savers ID Card.

Grow their savings by transferring funds from your own BDO Savings Account to your kid’s account using BDO’s online banking services.

To earn interest, the minimum balance for a BDO Junior Saver’s account is P2,000. The gross annual interest rate is at 0.25%.

Requirements for a BDO Junior Saver’s Account:

For an account name under your child, submit any original copies of the following:

  • Passport
  • School ID, signed by the school principal/head
  • NSO Birth Certificate

For an account name under parent/guardian:

  • Two ID’s of parent/guardian
  • Your child’s passport, NSO Birth Certificate, or School ID
  • Adoption papers, if applicable
  • Guardianship documents, if account is opened by the legal guardian

(Read: Common Questions Little Kids Ask About Money—And How To Answer Them)

BPI Jumpstart

BPI’s Jumpstart savings is not just for little kids, but also for teenagers up to the age of 17. The formative years of 10 to 17 is the best way to start learning about saving money the right way. It may even be a big help once they start going to college, as they learn to manage their allowance on their own.

Start with a P100 minimum initial deposit and encourage your kids to save more. The required daily balance to earn interest starts at P2,000, with a 0.25% annual interest rate. This account comes with a Guaranteed Savings feature to protect the account from impulsive withdrawals.

Requirements for a BPI Jumpstart Savings Account:

  • Your child’s NSO Birth Certificate
  • School ID, signed by school head
  • Two (2) 1×1 ID picture
  • Initial deposit of P100
  • Utility Bill with your permanent address

You can then opt to avail of the Allowance Transfer facility, to automatically credit your child’s allowance to his or her account.

Security Bank Junior One Account

Security Bank’s Junior One Account encourages your kids to build their future with a higher-than-usual interest rate. With only P100 opening balance, they can save up to P5,000 to start earning an interest rate of 0.5% annually.

This account also comes with a passbook and an Everyday Debit MasterCard that can be used here and abroad. This entitles account holders to perks and discounts from Security Bank partner merchants.

Bring at least one (1) photo-bearing government ID, and P100 initial deposit to apply for a Security Bank Junior One Account. Accounts for children 6 years old and below will be opened as an In-Trust-For (ITF) account.

EastWest Bank Kiddie Savings

Children from 0 to 18 years old can open an EastWest Bank Kiddie Savings account. The minimum initial deposit is P2,000, automatically earning it an annual interest of 0.125%. This already comes with a passbook, as well as internet banking and mobile facilities.

PSBank Kiddie and Teen Savers

PSBank Kiddie and Teen Savers is open for individual, joint, or ITF accounts. PSBank Kiddie Savers Account is for kids 0-12 years old, while teens aged 13-18 years old are eligible to open their own PSBank Teen Savers Account.

Kicking things up a notch, these accounts come with free personal accident insurance from Charter Ping An Insurance Corporation.

These accounts also require no minimum maintaining balance. The interest is credited monthly, with an annual interest rate of .50%.

PSBank Debit Mastercard or a regular PSBank ATM card come with opening a passbook and ATM account. They can use it to withdraw cash at any PSBank ATMs or BancNet and ExpressNet ATMs. They can also access their accounts online or through their PSBank Mobile app.

Requirements for PSBank Kiddie and Teen Savers:

  • Individual account: customer information sheet (CIS)
  • Signature card
  • Signing instructions and acknowledgement of receipt form
  • For parents or guardians who want to avail of automatic intra-bank fund transfer service : completely filled out interbank fund transfer (IBFT) enrollment form
  • PSBank Kiddie Savers and Teen Savers Accounts with PSBank Debit Mastercard: Quit Claim / Waiver signed by the parent or guardian

Additional requirements for an ITF account:

  • Photo-bearing government IDs
  • Customer Information Sheet (CIS) – for Beneficiaries and Beneficial Owners
  • Court order – required as proof of authority for guardians to open and operate an ITF account on behalf of the ward/s

Requirements for Parents or Legal Guardians:

  • Photo-bearing government IDs

Requirements for children:

  • NSO birth certificate, or certified true copy issued by the local civil registrar
  • School ID or passport–with photo, and signed by the principal or school head

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