The minimum balance required to open an RCBC savings account, often referred to as the minimum initial deposit, varies depending on the type of savings account you choose. For RCBC's regular savings accounts, the initial deposit can be as low as PHP 3,000.
RCBC Savings Account Minimums
Understanding the minimum balance for an RCBC savings account involves looking at two key figures: the Minimum Initial Deposit required to open the account, and the Balance to Earn Interest, which is the amount your account must maintain to start accruing interest.
Here's a breakdown of the minimum requirements for popular RCBC savings accounts:
| Account Type | Minimum Initial Deposit | Balance to Earn Interest |
|---|---|---|
| Regular Savings ATM | PHP 3,000 | PHP 25,000 |
| Regular Savings Passbook | PHP 5,000 | PHP 25,000 |
Understanding Different Minimums
It's important to distinguish between these minimums:
- Minimum Initial Deposit: This is the lowest amount you need to deposit to successfully open and activate your chosen RCBC savings account. For instance, to start saving with a Regular Savings ATM account, you'll need at least PHP 3,000.
- Balance to Earn Interest: While your account may be open with the minimum initial deposit, you need to maintain a higher average daily balance to qualify for interest earnings. For both Regular Savings ATM and Regular Savings Passbook accounts, your balance must reach at least PHP 25,000 to start earning interest.
Choosing the right RCBC savings account depends on your financial goals, whether you prioritize ease of access with an ATM card or prefer traditional record-keeping with a passbook. Always check the official RCBC website for the most current terms and conditions to ensure you have the latest information.
For more details on RCBC's savings products and to find the best fit for your financial needs, visit the official RCBC savings accounts page.
