RCBC Gives Filipinos More Ways to Save

Posted June 3, 2020 by rizalcommercialbc2020

The Rizal Commercial Banking Corporation (RCBC) is one of the largest private domestic banks, with a network of nearly 500 branches and 1,500 ATMs. In 2019, RCBC merged with its Savings Bank to gain a stronger financial and asset base.

[MAKATI CITY – 06/03/2020] – RCBC now offers a more diverse range of savings accounts products for the different needs of Filipinos across varying demographics. People aged 0-21 can have an early start at banking, by opening their own savings account with RCBC’s GoSavers, a basic savings account that only requires a P100 initial deposit and no Average Daily Balance (ADB) to maintain. GoSavers even comes with free comprehensive insurance for both the accountholder and their parents, along with an ATM card and passbook. To earn interest, the GoSavers account must have an ADB of P5,000.

Flexible Savings
For the conservative saver that wants to get more out of their savings account, RCBC offers its Flexisaver savings account. This type of savings account lets depositors choose between having an ADB or a small annual fee of P300, with a smaller ADB to maintain it. By choosing the annual fee feature, the depositor can have a debit card feature and passbook, with an ADB of P3,000 to P5,000. Should depositors go the ADB route, they can choose to have an ADB between P3,000 and P33,000, depending on the features they want to add on, such as a special Card Protect feature and Personal Accident Insurance.

There’s another flexible savings product for tech-savvy millennials. This is a virtual savings account, branded as the iSave account; it requires no initial deposit nor an ADB, and yields 0.15% to 0.20% interest if the account contains a minimum of P5,000. The iSave account also comes with free personal accident insurance, as well as a hospitalization benefit.

Foreign Currency Savings
Filipinos now also have the option to buy, deposit, or invest directly in foreign currencies like the US, Australian, or Canadian dollar, Euro, British Pound, and Japanese Yen. Their initial deposits, ADB, balance to earn interest, and interest rates vary, so Filipinos earning in different currencies can choose what is best for their saving needs.

About RCBC
The company has been a pillar of the Philippine banking industry since 1960, and continues to provide a diverse portfolio of financial services, such as retail and investment banking, microfinance, leasing, foreign exchange brokering, and overseas remittances.

Contact RCBC for your savings or other banking and investment needs today.
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Issued By Hazel Pastrana
Country Philippines
Categories Finance
Last Updated June 3, 2020