Bank of the Philippine Islands said it was offering a new deposit account with P50,000 average daily balance requirement, after it raised the provision to P2 million for one of its popular savings products.
The Saver Plus Savings Account will be offered starting June 1, 2021, the same day the ADB for the Peso Maxi Saver Savings will be raised to P 2 million from P50,000 to P75,000.
How is the ADB computed? Add up all the daily end-of-day balances in a month and divide it by the number of days in that month.
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What happens if the account falls below the ADB? According to BPI, a P300 monthly service charge applies if the ADB falls below the requirement for two consecutive months.
Saver Plus is accessible via debit card only. A fee of P18 will be charged for every withdrawal or debit transaction, BPI said.
Hare are more details on Saver Plus Savings Account:
Here are the new terms for Peso Maxi Savings starting June 1:
