Important Customer Advisory on Maxi-Saver Savings Accounts
Effective July 1, 2021, there will be changes in the Terms and Conditions governing all Peso Retail Maxi-Saver Savings Accounts.
Changes in the Terms and Conditions of Peso Retail Maxi-Saver Savings Accounts are as follows:
|ADB1 Requirement||Php 50,000 / Php 75,0002||Php 2 Mn|
|Required Daily Balance3 To Earn Interest||Php 50,000 / Php 75,000||Php 2 Mn|
|Applicable Interest Rates Per Annum||ADB||Base||Bonus||ADB||Base||Bonus|
|Less than Php 50,000 / Php 75,000||N/A||Less than Php 2 Mn||N/A|
|Php 50,000 / Php 75,000 < Php 5 Mn||0.125%||0.125%|
|Php 5 Mn and up||0.250%||0.125%||Php 2 Mn and up||0.125%||0.125%|
|Withdrawal Limit Per Month||6 withdrawals; lowest interest-bearing tier applies beyond 6 withdrawals||Not applicable|
|Monthly Service Charge4 for Falling Below ADB||Php 300||Php 300|
All other Terms and Conditions shall remain unchanged and in full force and effect.
We will be communicating to customers with Peso Retail Maxi-Saver Savings Accounts in the coming weeks about these changes to the above-stated deposit product. Kindly ensure that your contact details with the bank are updated.
1 ADB refers to Average Daily Balance, which is defined as the sum of the daily end-of-day balances in the account for a month divided by the number of days in that month. The formula for computing ADB is as follows:
ADB = (Day 1 ending balance + Day 2 ending balance …+ Day 30/31 ending balance)
Number of days in the month (i.e. 30/31 days)
2ADB requirement for Debit card is Php 50,000, while ADB requirement for Passbook is Php 75,000
3Daily Balance is equivalent to end-of-day balance
4Monthly Service Charge applies if account falls below the required minimum average daily balance for two consecutive months.
Updated as of June 1, 2021
- Maxi Saver Change in T&Cs